On the back of a continuing shift in corporate pension plans away from defined benefit to defined contribution, Northwestern University’s Joshua Rauh and Indiana University’s Irina Stefanescu look at what causes the resultant freezing of these corporate plans. The paper takes the further step of looking at the consequences for both employees and plan sponsors,
Authors Christopher Armstrong from The Wharton School University of Pennsylvania, Ian Gow of Harvard Business School and David Larcker from the Graduate School of Business Rock Center for Corporate Governance, Stanford University, look at the efficacy of shareholder voting. The study examines the effects of shareholder support for equity compensation plans on subsequent chief executive
EDHEC-Risk Institute research associate Hilary Till looks at the risk management of commodity derivatives trading and the lessons that can be learned from recent high profile trading debacles. Till, a principal, at Premia Capital Management, LLC, analysed several case studies and looks at risk management at large institutions, proprietary trading firms and at hedge funds.
Monday 21 May 9:00 – 11:30 am The Codrington Room, Corinthia Hotel London Whitehall Place, London SW1A 2BD United Kingdom Over the next several years, it is estimated that European banks need to dispose of approximately €2.5 trillion of non-core assets. The €800 billion “firewall” against sovereign debt default in Europe and long-term
MSCI looks at why investors may have a limited small cap representation in their equity portfolios and how this may potentially impact on both risk and returns. The researchers find that investors may be making an unintentional decision to minimise their exposure to small caps that could have cost 60 basis points of annual performance
Managing surplus risk enables pension plans and endowments to align their asset allocations with their future obligations. Market Insight:Analyzing Hedges for Liability-Driven Investors seeks to better understand the drivers of surplus risk and to analyse the potentially subtle impact of specific hedges. In Goldberg and Kim’s case study, a term-structure hedge using an interest-rate swap
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