Toggle Main Menu Toggle Search

Open Access padlockePrints

The Newcastle University research output collection, currently available on ePrints, will shortly be moving to a new open repository platform, Figshare. To prepare for the data migration we have paused adding new content to ePrints, and will resume once the new repository is launched. During this time you will continue to have access to ePrints (but no new content will appear). We will share updates here when available.

Stewardship and Fiduciary Duties: The Spectrum of Pension Fund Engagement

Lookup NU author(s): Dr Anna Tilba

Downloads

Licence

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY-NC-ND).

Abstract

A critical issue for the future growth of institutional investor Stewardship and engagement over investee companies is whether it is compatible with the fiduciary duties of pension fund trustees. This study examines how a range of interpretations of fiduciary duties informs approaches to corporate governance. Using the data from thirty-five in-depth interviews with key decision-makers I reveal that trustees understand their fiduciary duties in a variety of ways, which underpins the intensity and methods of engagement. Four distinct approaches emerge: Disengagement, Employer Engagement, Fund Manager Engagement and Corporate Engagement. I provide novel and empirically grounded explanations of much theorized but little understood concept of fiduciary duty in relation to corporate governance. The paper also has significant policy implications in that it raises scepticism about realising aspirations for shareowner Stewardship and fiduciary standards within the investment chain.

Publication metadata

Author(s): Tilba A

Publication type: Conference Proceedings (inc. Abstract)

Publication status: Published

Conference Name: British Academy of Management Conference (BAM2014)

Year of Conference: 2014

Date deposited: 22/05/2014

Publisher: British Academy of Management

URL: http://www.bam.ac.uk/civicrm/event/info?id=1971

Share