Global Pension Fund Activism

20 Pages Posted: 7 Mar 2012

See all articles by Siona Robin Listokin

Siona Robin Listokin

George Mason University - Schar School of Policy and Government; George Mason University - School of Policy, Government, and International Affairs

Date Written: June 30, 2011

Abstract

Public pension funds, as some of the world’s largest institutional investors, can command substantial ownership and influence over corporate governance and strategy. This influence can extend to shareholder activism, and can be at odds with other corporate owners. This study analyzes the role of the largest public pension systems in corporate activism in North America, Western Europe and Asia. The paper compares formal fund guidelines for socially responsible investing and ownership, along with shareholder actions such as proxy proposals, class action lawsuits and communication with corporate management. In addition, the study considers possible contradictions between public pension activism and the retirement funds’ dependence from the government sponsor. Implications for India’s civil service pension funds are considered.

Keywords: Pension funds, shareholder activism, corporate governance

Suggested Citation

Listokin, Siona Robin, Global Pension Fund Activism (June 30, 2011). Available at SSRN: https://ssrn.com/abstract=1480964 or http://dx.doi.org/10.2139/ssrn.1480964

Siona Robin Listokin (Contact Author)

George Mason University - Schar School of Policy and Government ( email )

Founders Hall, Fifth Floor
3351 Fairfax Drive, MS 3B1
Arlington, VA 22201
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George Mason University - School of Policy, Government, and International Affairs ( email )

Founders Hall
3351 Fairfax Dr.
Arlington, VA 22201
United States

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