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Cambridge Handbook of Institutional Investment and Fiduciary Duty

Cambridge Handbook of Institutional Investment and Fiduciary Duty

Author: James P. Hawley
Publisher: Cambridge University Press
ISBN: 9781107035874

Published In: April 2015
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Paperback Edition ISBN: 9781107562080

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Description
Contents

Details

The Cambridge Handbook of Institutional Investment and Fiduciary Duty is a comprehensive reference work exploring recent changes and future trends in the principles that govern institutional investors and fiduciaries.

A wide range of contributors offer new perspectives on dynamics that drive the current emphasis on short-term investment returns. Moreover, they analyze the forces at work in markets around the world which are bringing into sharper focus the systemic effects that investment practices have on the long-term stability of the economy and the interests of beneficiaries in financial, social and environmental sustainability.

This volume provides a global and multi-faceted commentary on the evolving standards governing institutional investment, offering guidance for students, researchers and policy-makers interested in finance, governance and other aspects of the contemporary investment world.

It also provides investment, business, financial media and legal professionals with the tools they need to better understand and respond to new financial market challenges of the twenty-first century.

1. Introduction

Part I. Fiduciary Duty: A Global Outlook:

2. The public fiduciary - a Canadian perspective

3. The basis of fiduciary duty in investment in the United States

4. Governance and accountability in UK pension schemes

5. Institutional investment and fiduciary duty in Australia

6. The regulation of institutional investment in Sweden: a role-model for the promotion of responsible investment?

7. The Dutch pension system

Part II. Fiduciary Duty and the Landscape of Institutional Investment:

8. The philanthropic fiduciary

9. Paradigm lost: employment-based defined benefit plans and the current understanding of fiduciary duty

10. Economically targeted investing: changing of the guard

11. Institutional investment in the European Union Emissions Trading Scheme

12. Have institutional fiduciaries improved securities class actions? A review of the empirical literature on the PSLRA's Lead Plaintiff Provision

13. The future of fiduciary obligation for institutional investors

Part III. Challenging Conventional Wisdom on Fiduciary Duty:

14. Is the search for excessive alpha a breach of fiduciary duty?

15. Fiduciary duty and sin stocks: is vice really nice?

16. Whose risk counts?

17. Sustainability, financial markets and systemic risk

18. Uncertain times, plural rationalities and the pension fiduciary

19. Emotional finance and the fiduciary responsibility of asset managers

Part IV. Towards a Broader Interpretation of Fiduciary Duty: 20. Fiduciary duty and the search for a shared conception of sustainable investment

21. Pension fund fiduciary duty and its impacts on sustainable investing

22. Reason, rationality and fiduciary duty

23. Socially responsible investment and the conceptual limits of fiduciary duty

24. Fiduciary duty at the intersection of business and society

25. Challenging conventional wisdom: the role of investment tools, investment beliefs and industry conventions in changing our interpretation of fiduciary duty

Part V. Beneficiaries' Roles and Viewpoints:

26. The voice of the beneficiary

27. Understanding the attitudes of beneficiaries: should fiduciary duty include social, ethical and environmental concerns?

28. Operationalizing socially responsible investment: a non-financial fiduciary duty problem

29. The preferences of beneficiaries: what can we learn from research on retail investors?

Part VI. Fiduciary Duty and Governance:

30. Investors and global governance frameworks: broadening the multi-stakeholder paradigm

31. Investment fiduciaries, the role of the public corporation, and greater commitments to sustainability: signals from the corporate board

32. Reporting and standards: tools for stewardship

33. US corporate governance, fiduciary success and stable economic growth

34. Fulfilling fiduciary duties in an imperfect world - governance recommendations from the Stanford Institutional Investor Forum

35. Addressing the participation gap in institutional investment: an assessment framework and preliminary results