Employee Representation and the Risk of Corporate Pension Plans

43 Pages Posted: 2 Mar 2020

See all articles by Nicola Heusel

Nicola Heusel

EBS Universität für Wirtschaft und Recht

Date Written: January 01, 2020

Abstract

We analyze the effect of direct labour representation in supervisory boards on the risk of corporate pension plans.We exploit employee representation requirements mandated by German labour law and find that firms with parity employee representation reduce pension plan risk both in terms of funding as well as in terms of investment risk.

Keywords: Employee representation, Risk shifting, defined benefit pensions

JEL Classification: G20, G30

Suggested Citation

Heusel, Nicola, Employee Representation and the Risk of Corporate Pension Plans (January 01, 2020). Available at SSRN: https://ssrn.com/abstract=3529278 or http://dx.doi.org/10.2139/ssrn.3529278

Nicola Heusel (Contact Author)

EBS Universität für Wirtschaft und Recht ( email )

Gustav-Stresemann-Ring 3
Wiesbaden, Hessen 65189
Germany

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