PUBLIC PENSION GOVERNANCE AND ASSET ALLOCATION

Matt Dobra

No 14/08, Monash Economics Working Papers from Monash University, Department of Economics

Abstract: This paper analyses the relationship between governance, asset allocation, and risk among state and local government-operated pension systems in the United States. It is argued that governance influences investment decisions and risk profiles of public sector pension systems, creating the potential for agency problems to exist between decision makers, plan members, and taxpayers.

Keywords: public pension governance; portfolio management. (search for similar items in EconPapers)
JEL-codes: D7 G2 H7 J2 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2008-06-02
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Citations: View citations in EconPapers (1)

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