Democratizing Pension Funds: Corporate Governance and Accountability

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UBC Press, Jan 1, 2009 - Law - 268 pages
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This book will spark a debate concerning the need for democracy and accountability in the governance of trillions of dollars of plan members' pension plan assets and the legitimacy of the present, mostly unaccountable, corporate governance decisions made by these plans. The author analyzes the reasons for this passivity, pointing to conflicts of interest with respect to corporate governance activity in pension plans and also to limitations in corporate, securities, and pension law. He argues that plan members should be given a voice in pension plan governance and the plans made accountable, and he outlines the legal reforms necessary.

 

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Contents

Introduction
3
A Deal with the Devil?
13
A Question of Ownership?
35
3 The Duties of Pension Fund Managers towards Plan Members with Respect to the Governance of Investee Corporations
53
4 Corporate Laws Opportunities and Limitations for Pension Fund Corporate Governance Activity
73
5 The Enhancing and Constraining Effects of Securities Regulation on Corporate Governance by Pension Funds
106
6 Designing Democratic Corporate Governance Accountability Options
140
Pension Funds Must Be Accountable to Plan Members for Using Corporate Governance to Enhance Corporate Environmental Social and Governance...
174
Notes
180
Bibliography
223
Index
238
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About the author (2009)

Ronald B. Davis is an associate professor in the Faculty of Law at the University of British Columbia.

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