Pension Fund Investment Policy

Pension Fund Investment Policy
  • Author : Zvi Bodie
  • Publisher :
  • Pages : 26
  • Relase : 1988
  • ISBN : IND:30000113459949

Pension Fund Investment Policy Book Review:

The purpose of this paper is to survey what is known about the investment policy of pension funds. Pension fund investment policy depends critically on the type of plan: defined contribution versus defined benefit. For defined contribution plans investment policy is not much different than it is for an individual deciding how to invest the money in an Individual Retirement Account (IRA). The guiding principle is efficient diversification, that is, achieving the maximum expected return for any given level of risk exposure. The special feature is the fact that investment earnings are not taxed as long as the money is held in the pension fund. This consideration should cause the investor to tilt the asset mix of the pension fund towards the least tax-advantaged securities such as corporate bonds. For defined benefit plans the practitioner literature seems to advocate immunization strategies to hedge benefits owed to retired employees and portfolio insurance strategies to hedge benefits accruing to active employees. Academic research into the theory of optimal funding and asset allocation rules for corporate defined benefit plans concludes that if their objective is shareholder wealth maximization then these plans should pursue extreme policies. For healthy plans, the optimum is full funding and investment exclusively in taxable fixed-income securities. For very underfunded plans, the optimum is minimum funding and investment in the riskiest assets. Empirical research so far has failed to decisively confirm or reject the predictions of this theory of corporate pension policy. Recent rule changes adopted by the Financial Accounting Standards Board regarding corporate reporting of defined benefit plan assets and liabilities may lead to a significant shift into fixed-income securities. The recent introduction of price-level indexed securities in u.s. financial markets may lead to significant changes in pension fund asset allocation. By giving plan sponsors a simple way to hedge inflation risk, these securities make it possible to offer plan participants inflation protection both before and after retirement.

Middle East and North Africa Investment Policy Perspectives

Middle East and North Africa Investment Policy Perspectives
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 240
  • Relase : 2021-03-30
  • ISBN : 9789264473041

Middle East and North Africa Investment Policy Perspectives Book Review:

Middle East and North Africa Investment Policy Perspectives highlights the considerable progress in investment policies made by the region’s governments over the past decade. Yet, the reform momentum needs to be sustained and deepened for the benefits of investment to be shared with society at large and for growth to be sustainable, particularly in the context of the COVID-19 pandemic and resulting global economic upheaval.

Trade and Investment Policy

Trade and Investment Policy
  • Author : Thomas L. Brewer
  • Publisher : Edward Elgar Pub
  • Pages : 522
  • Relase : 1999
  • ISBN : UCSD:31822033402736

Trade and Investment Policy Book Review:

This two-volume set collects previously published journal articles and book excerpts to provide an extensive array of readings in the economics and politics of international trade and investment policy. Volume I (25 articles) discusses policy in the context of globalization, theory, firms' strategies, governments' policies, and domestic politics. Volume II (22 articles) covers multilateral institutions and agreements, regional institutions and agreements, and inter-policy linkages. Brewer is the editor of the Journal of International Business Studies, Georgetown U. Business School. There is no subject index. Annotation copyrighted by Book News, Inc., Portland, OR

Investment Policy Analysis and the Nigerian Economic System

Investment Policy Analysis and the Nigerian Economic System
  • Author : Nwabueze H. Achime
  • Publisher :
  • Pages : 372
  • Relase : 1996
  • ISBN : STANFORD:36105070607705

Investment Policy Analysis and the Nigerian Economic System Book Review:

OECD Investment Policy Reviews OECD Investment Policy Reviews: China 2006

OECD Investment Policy Reviews OECD Investment Policy Reviews: China 2006
  • Author : OECD Publishing,Organisation for Economic Co-operation and Development
  • Publisher : OECD
  • Pages : 108
  • Relase : 2006-04-21
  • ISBN : STANFORD:36105122272045

OECD Investment Policy Reviews OECD Investment Policy Reviews: China 2006 Book Review:

China has become one of the world's leading destinations for foreign direct investment (FDI). However, while cross-border mergers and acquisitions (M&A) have become the dominant form of global FDI flows, they remain a relatively small part of FDI flows into China. Cross-border M&A can play an important part in the restructuring of state-owned industries, especially in China's old industrial heartland in the North East. The Chinese government has enacted legislation to open the economy to cross-border M&A but the regulatory framework could be more open and transparent. In reviewing developments since 2003, the Investment Policy review of China 2006 evaluates the progress made in developing an effective institutional framework for cross-border M&A in China, takes stock of remaining obstacles, and offers policy options to address them. This review is part of the OECD's ongoing co-operation with non-member economies around the world.

Global Investment Competitiveness Report 2017/2018

Global Investment Competitiveness Report 2017/2018
  • Author : World Bank Group
  • Publisher : World Bank Publications
  • Pages : 182
  • Relase : 2017-10-25
  • ISBN : 9781464811852

Global Investment Competitiveness Report 2017/2018 Book Review:

The Global Investment Competitiveness report presents new insights and evidence on drivers of foreign direct investment (FDI) in developing countries, and FDI’s role in development. The report’s survey of 750 executives of multinational corporations finds that a business-friendly legal and regulatory environment is a key driver of investment decisions in developing countries, along with political stability, security, and macroeconomic conditions. The report’s topic-specific chapters explore the potential of FDI to create new growth opportunities for local firms, assess the power of tax holidays and other fiscal incentives to attract FDI, analyze characteristics of FDI originating in developing countries, and examine the experience of foreign investors in countries affected by conflict and fragility. Three key features of this Global Investment Competitiveness report distinguish it from other publications on FDI. First, its insights are based on a combination of first-hand perspectives of investors, extensive analysis of available data and evidence, and international good practices in investment policy design and implementation. Secondly, rather than exploring broad FDI trends, the report provides detailed and unique analysis of FDI depending on its motivation, sector, geographic origin and destination, and phase of investment. Thirdly, the report offers practical and actionable recommendations to policymakers in developing countries wishing to reform their business climates for increased investment competitiveness. As such, the report is meant to complement other knowledge products of the World Bank Group focused even more explicitly on country-level data, detailed reform diagnostics, and presentation of best practices. We are confident this report will bring value and fresh perspectives to a variety of audiences. To governments and policymakers, including investment promotion professionals, the report offers direct insights into the role of government policies and actions in investors’ decision-making. To foreign investors and site location consultants, the report provides information on FDI trends and drivers across sectors and geographies. For academic audiences, the new datasets on investment incentives and FDI motivations enables opportunities for additional research and analysis. Lastly, for development assistance providers and other stakeholders, the report highlights key approaches for maximizing FDI’s benefits for development.

OECD Investment Policy Reviews: China 2006 Open Policies towards Mergers and Acquisitions

OECD Investment Policy Reviews: China 2006 Open Policies towards Mergers and Acquisitions
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 61
  • Relase : 2006-04-17
  • ISBN : 9789264021945

OECD Investment Policy Reviews: China 2006 Open Policies towards Mergers and Acquisitions Book Review:

In reviewing developments since 2003, the this review evaluates the progress made in developing an effective institutional framework for cross-border M&A in China, takes stock of remaining obstacles, and offers policy options to address them.

OECD Investment Policy Reviews: Nigeria 2015

OECD Investment Policy Reviews: Nigeria 2015
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 312
  • Relase : 2015-05-21
  • ISBN : 9789264208407

OECD Investment Policy Reviews: Nigeria 2015 Book Review:

This Investment Policy Review examines Nigeria’s investment policies in light of the OECD Policy Framework for Investment (PFI), a tool to mobilise investment in support of economic growth and sustainable development.

OECD Investment Policy Reviews: Ukraine 2016

OECD Investment Policy Reviews: Ukraine 2016
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 224
  • Relase : 2016-09-27
  • ISBN : 9789264257368

OECD Investment Policy Reviews: Ukraine 2016 Book Review:

This review, which was prepared in close co-operation with the Ukrainian authorities, analyses Ukraine’s general framework for investment, as well as recent reforms, and shows where further efforts are necessary.

OECD Investment Policy Reviews: Mozambique 2013

OECD Investment Policy Reviews: Mozambique 2013
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 156
  • Relase : 2013-11-13
  • ISBN : 9789264203310

OECD Investment Policy Reviews: Mozambique 2013 Book Review:

OECD's comprehensive review of investment policy in Mozambique. After a country overview, this report examines investment policy, investment promotion and facilitation as well as infrastructure in Mozambique.

OECD Investment Policy Reviews: Kazakhstan 2012

OECD Investment Policy Reviews: Kazakhstan 2012
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 136
  • Relase : 2012-04-10
  • ISBN : 9789264121812

OECD Investment Policy Reviews: Kazakhstan 2012 Book Review:

This review assesses Kazakhstan's ability to comply with the principles of liberalisation, transparency and non-discrimination and to bring its investment policy closer to recognised international standards such as the OECD Declaration on International Investment and Multinational Enterprises.

OECD Investment Policy Reviews: Russian Federation 2008 Strengthening the Policy Framework for Investment

OECD Investment Policy Reviews: Russian Federation 2008 Strengthening the Policy Framework for Investment
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 88
  • Relase : 2008-08-20
  • ISBN : 9789264045989

OECD Investment Policy Reviews: Russian Federation 2008 Strengthening the Policy Framework for Investment Book Review:

Reviews recent trends in international investment and related policy in Russia and, in a special chapter, addresses policies critical for coping with the country's huge energy investment needs.

OECD Investment Policy Reviews: Uruguay

OECD Investment Policy Reviews: Uruguay
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 225
  • Relase : 2021-07-12
  • ISBN : 9789264489455

OECD Investment Policy Reviews: Uruguay Book Review:

In July 2020, the Investment Committee recommended to Council to invite Uruguay to become the 50th adherent to the OECD Declaration on International Investment and Multinational Enterprises. This OECD Investment Policy Review of Uruguay documents the progress made in recent years to align investment policies with the national development strategy in pursuit of the Sustainable Development Goals (SDGs).

OECD Investment Policy Reviews: Indonesia 2010

OECD Investment Policy Reviews: Indonesia 2010
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 252
  • Relase : 2010-11-01
  • ISBN : 9789264087019

OECD Investment Policy Reviews: Indonesia 2010 Book Review:

OECD Investment Policy Reviews: Indonesia charts Indonesia’s progress in developing an effective policy framework to promote investment for development.

OECD Investment Policy Reviews: Zambia 2012

OECD Investment Policy Reviews: Zambia 2012
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 196
  • Relase : 2012-03-20
  • ISBN : 9789264169050

OECD Investment Policy Reviews: Zambia 2012 Book Review:

OECD's review of investment policy in Zambia reviews the country's investment policy, investment promotion and facilitation, trade and competition policy, tax policy, corporate governance, policies for promoting responsible business conduct, infrastructure development and other aspects.

U.S. Trade and Investment Policy

U.S. Trade and Investment Policy
  • Author : Andrew H. Card,Edward H. Alden,Matthew Jon Slaughter
  • Publisher : Council on Foreign Relations
  • Pages : 119
  • Relase : 2011
  • ISBN : 9780876094419

U.S. Trade and Investment Policy Book Review:

"The Council on Foreign Relations sponsors Independent Task Forces to assess issues of current and critical importance to U.S. foreign policy and provide policy makers with concrete judgments and recommendations. diverse in backgrounds and perspectives, Task Force members aim to reach a meaningful consensus on policy through private and non-partisan deliberations. Once launched, Task Forces are independent of CFR and solely responsible for the content of their reports. Task Forces members are asked to join a consensus signifying that they endorse 'the general policy thrust and judgments reached by the group. though not necessarily every finding and recommendation'. Each Task Force member also has the option of putting forward an additional or dissenting view. Members' affiliations are listed for identification purposes only and do not imply institutional endorsement. Task Force observers participate in discussions, but are not asked to join the consensus."--Publisher's website.

OECD Investment Policy Reviews: Colombia 2012

OECD Investment Policy Reviews: Colombia 2012
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 150
  • Relase : 2012-04-11
  • ISBN : 9789264167742

OECD Investment Policy Reviews: Colombia 2012 Book Review:

This Investment Policy Review examines Colombia's achievements in developing an open and transparent investment regime and its efforts to reduce restrictions on international investment.

OECD Energy Investment Policy Review of Ukraine

OECD Energy Investment Policy Review of Ukraine
  • Author : OECD
  • Publisher : OECD Publishing
  • Pages : 190
  • Relase : 2021-12-15
  • ISBN : 9789264679733

OECD Energy Investment Policy Review of Ukraine Book Review:

This Review assesses Ukraine’s investment climate vis-à-vis the country’s energy sector reforms and discusses challenges and opportunities in this context. Capitalising on the OECD Policy Framework for Investment and other relevant instruments and guidance, the Review takes a broad approach to investment climate challenges facing Ukraine’s energy sector.

How to Write an Investment Policy Statement

How to Write an Investment Policy Statement
  • Author : Rocco DiBruno
  • Publisher : John Wiley & Sons
  • Pages : 80
  • Relase : 2013-05-21
  • ISBN : 9781118680124

How to Write an Investment Policy Statement Book Review:

An indispensable resource for every financial serviceprofessionals developing an IPS The Investment Policy Statement (IPS) is one of the mostcritical documents fiduciaries must draft. For years, ERISA andother industry regulations have governed the guidelines allfiduciaries must comply with when drafting one. But the currentclimate of corporate scandal and the 2008 global banking crisishave led to increased scrutiny by regulators, prompting firms totake a closer look at the quality and integrity of their IPSs andto take steps to have a rigorous formal process in place fordrafting them. Endorsed by the Foundation of Fiduciary Studies,this concise guide provides a rigorous framework and the expertinsight, information and guidance you need to guarantee that yourIPS is in complete compliance with all ERISA-directedrequirements. Provides a step-by-step plan for creating a uniform IPS thatevery advisor in the office can follow Defines the duties and responsibilities of all partiesinvolved, while clarifying diversification guidelines and providingmethods for keeping costs under control Packed with ready-to-use templates, sample forms, letters andother documents, diagrams and other valuable tools, includingsample Policy Statement downloadable at the companion website Designed to get you quickly up to speed on what you need toknow to confidently serve your clients with the highest standardsof care and protection

Investment Policy Act of 1976

Investment Policy Act of 1976
  • Author : United States. Congress. Senate. Committee on Banking, Housing and Urban Affairs
  • Publisher :
  • Pages : 88
  • Relase : 1977
  • ISBN : LOC:00100790452

Investment Policy Act of 1976 Book Review: