University of British Columbia Press
Democratizing Pension Funds
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Ronald B. Davis
About this book
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.
Author / Editor information
Reviews
Ronald Davis has a rare combination of expertise – labor law, corporate law, trust law, securities law, and pension law … His book provides a clear explanation of many important legal concepts from vastly different fields and brings them together in a way that is compelling … It will be read and discussed by many scholars, policymakers, and practitioners not only in Canada and the United States but around the world.
Topics
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Front Matter
i -
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Contents
v -
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Acknowledgments
vii -
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Introduction
3 -
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Corporate Investment by Employee Pension Funds: A Deal with the Devil?
13 -
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Pension Fund Assets and Plan Members: A Question of Ownership?
35 -
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The Duties of Pension Fund Managers towards Plan Members with Respect to the Governance of Investee Corporations
53 -
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Corporate Law’s Opportunities and Limitations for Pension Fund Corporate Governance Activity
73 -
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The Enhancing and Constraining Effects of Securities Regulation on Corporate Governance by Pension Funds
106 -
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Designing Democratic Corporate Governance Accountability Options
140 -
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Conclusion: Pension Funds Must Be Accountable to Plan Members for Using Corporate Governance to Enhance Corporate Environmental, Social, and Governance Performance
174 -
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Notes
180 -
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Bibliography
223 -
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Index
238
