In recent years, there has been a dramatic increase in institutional ownership of publicly listed companies across the OECD area. In fact, pension funds and other institutional investors have become the dominant owners of public equity.
Along with this development, there has been a growing interest in ownership engagement. How, and to what extent, do pension funds exercise active ownership? And what are the key factors that influence the nature and degree of ownership engagement by pension funds?
It is important to understand what determines the incentives for ownership engagement in pension funds. One would expect these determinants to include characteristics such as the purpose of the fund, the liability structure, the regulatory framework, etc.
In order to shed light on these and related issues, PeRCent and Copenhagen Economics organized a joint seminar on active ownership in pension funds. The event was held at Copenhagen Economics on January 23, 2017.
The seminar had two main speakers: Professor Egil Matsen, Deputy Governor in Norges Bank and responsible for the Norwegian oil fund; and my CBS colleague, Professor Ken L. Bechmann, an expert on issues related to corporate finance and corporate governance.
Each presentation by the two keynote speakers was followed by a panel discussion as well as a floor discussion. After the formal part of the event, CE hosted a reception.
You can read more about the event
here. And my opening remarks can be found
A record of other conferences I have organized recently can be seen here.