This study provides new evidence on the impact of governance on the performance of privately defined contribution … pension plans. Using a hand collected data set on governance factors, the study shows that the external and internal … governance mechanisms in pension plans are weak. One explanation for this weakness is the potential conflict between the pension …

agency conflicts are largely due to differences in firm-level governance, ownership concentration, and other firm … characteristics, including intangibles and cash. The origin of law is more relevant for curtailing governance excesses than for …