메뉴 건너뛰기




Volumn 4, Issue 3, 2000, Pages 207-237

When financial intermediaries are corporate owners: An agency model of institutional ownership

Author keywords

Agency theory; Governance; Institutional ownership; Mutual funds; Pension plans

Indexed keywords


EID: 0011238720     PISSN: 13853457     EISSN: None     Source Type: Journal    
DOI: 10.1023/A:1026586429071     Document Type: Article
Times cited : (17)

References (138)
  • 2
    • 0011177857 scopus 로고
    • Employee Benefits and Retirement Income Adequacy: Data, Research, and Policy Issues
    • in Z. Bodie and A. H. Munnell (eds.), (Philadelphia, PA: Pension Research Council, Wharton School of The University of Pennsylvania)
    • Andrews, E.S. and Hurd, M.D.: 1992, Employee Benefits and Retirement Income Adequacy: Data, Research, and Policy Issues, in Z. Bodie and A. H. Munnell (eds.), Pension and the Economy: Sources, Uses, and Limitations of Data (Philadelphia, PA: Pension Research Council, Wharton School of The University of Pennsylvania), pp. 1-30.
    • (1992) Pension and the Economy: Sources, Uses, and Limitations of Data , pp. 1-30
    • Andrews, E.S.1    Hurd, M.D.2
  • 3
    • 0001049795 scopus 로고
    • Agency Research in Managerial Accounting: A Survey
    • Baiman, S.: 1982, Agency Research in Managerial Accounting: A Survey, Journal of Accounting Literature 1: 154-121.
    • (1982) Journal of Accounting Literature , vol.1 , pp. 154-121
    • Baiman, S.1
  • 4
    • 69649100576 scopus 로고
    • (Rochester, NY: University of Rochester, William E. Simon Graduate School of Business Administration, Bradley Policy Research Center. FR 95-25)
    • Barclay, M.J., Pearson, N.D. and Weisbach, M.S.: 1995, Open- End Mutual Funds and Capital-Gains Taxes (Rochester, NY: University of Rochester, William E. Simon Graduate School of Business Administration, Bradley Policy Research Center. FR 95-25).
    • (1995) Open- End Mutual Funds and Capital-Gains Taxes
    • Barclay, M.J.1    Pearson, N.D.2    Weisbach, M.S.3
  • 7
    • 84928842106 scopus 로고
    • Pension Plans vs. Mutual Funds: Is the Client Victim or Culprit?
    • (Spring)
    • Berkowitz, S.A., Finney, L.D. and Logue, D.E.: 1988, Pension Plans vs. Mutual Funds: Is the Client Victim or Culprit?, California Management Review 24(Spring): 74-91.
    • (1988) California Management Review , vol.24 , pp. 74-91
    • Berkowitz, S.A.1    Finney, L.D.2    Logue, D.E.3
  • 8
  • 10
    • 0000119713 scopus 로고
    • Agents Watching Agents: The Promise of Institutional Investor Voice
    • Black, B.S.: 1992, Agents Watching Agents: The Promise of Institutional Investor Voice, UCLA Law Review 39: 811-894.
    • (1992) UCLA Law Review , vol.39 , pp. 811-894
    • Black, B.S.1
  • 11
    • 0004278997 scopus 로고
    • (Washington, D.C: The Brookings Institution)
    • Blair, M.M.: 1995, Ownership and Control (Washington, D.C: The Brookings Institution).
    • (1995) Ownership and Control
    • Blair, M.M.1
  • 12
    • 0002495876 scopus 로고
    • Conflict of Interest: An Agency Analysis
    • in N.E. Bowie and R.E. Freeman (eds.), (New York: Oxford University Press)
    • Boatright, J.R.: 1992, Conflict of Interest: An Agency Analysis, in N.E. Bowie and R.E. Freeman (eds.), Ethics and Agency Theory (New York: Oxford University Press), pp. 187-203.
    • (1992) Ethics and Agency Theory , pp. 187-203
    • Boatright, J.R.1
  • 13
    • 0002935954 scopus 로고
    • Defined Benefit Versus Defined Contribution Pension Plans: What are the Real Trade- Offs?
    • in Z. Bodie, J.B. Shoven and D.A. Wise (eds.), (Chicago, IL: The University of Chicago Press)
    • Bodie, Z., Marcus, A.J. and Merton, R.C.: 1988, Defined Benefit Versus Defined Contribution Pension Plans: What are the Real Trade- Offs?, in Z. Bodie, J.B. Shoven and D.A. Wise (eds.), Pensions and the US Economy (Chicago, IL: The University of Chicago Press), pp. 139-160.
    • (1988) Pensions and the US Economy , pp. 139-160
    • Bodie, Z.1    Marcus, A.J.2    Merton, R.C.3
  • 14
    • 0011222973 scopus 로고
    • Pension Fund Finance
    • in Z. Bodie and A.H. Munnell (eds.), (Philadelphia, PA: Pension Research Council, The Wharton School of the University of Pennsylvania)
    • Bodie, Z. and Papke, L.E.: 1992, Pension Fund Finance, in Z. Bodie and A.H. Munnell (eds.), Pensions and the Economy: Sources, Uses, and Limitations of Data (Philadelphia, PA: Pension Research Council, The Wharton School of the University of Pennsylvania), pp. 149-172.
    • (1992) Pensions and the Economy: Sources, Uses, and Limitations of Data , pp. 149-172
    • Bodie, Z.1    Papke, L.E.2
  • 15
    • 0011695130 scopus 로고
    • The Pivotal Role of Institutional Investors in Capital Markets
    • in A.W. Sametz and J.L. Bicksler (eds.), (Homewood, IL: Business One Irwin)
    • Brancato, C.K.: 1991, The Pivotal Role of Institutional Investors in Capital Markets, in A.W. Sametz and J.L. Bicksler (eds.), Institutional Investing: Challenges and Responsibilities of the 21st Century (Homewood, IL: Business One Irwin), pp. 1-33.
    • (1991) Institutional Investing: Challenges and Responsibilities of the 21st Century , pp. 1-33
    • Brancato, C.K.1
  • 19
    • 0032363131 scopus 로고    scopus 로고
    • Rise of the Institutional Equity Funds: Implications for Managerialism
    • Brown, C.: 1998, Rise of the Institutional Equity Funds: Implications for Managerialism, Journal of Economic Issues 32(3): 803-821.
    • (1998) Journal of Economic Issues , vol.32 , Issue.3 , pp. 803-821
    • Brown, C.1
  • 21
    • 84989045650 scopus 로고
    • Institutional Ownership, Capital Structure, and Firm Performance
    • Chaganti, R. and Damanpour, F.: 1991, Institutional Ownership, Capital Structure, and Firm Performance, Strategic Management Journal 12: 479-491.
    • (1991) Strategic Management Journal , vol.12 , pp. 479-491
    • Chaganti, R.1    Damanpour, F.2
  • 22
    • 0041442122 scopus 로고
    • The Investment, Financing and Control of the Firm: A Long-Run Survival View
    • Chamberlain, T.W. and Gordon, M.J.: 1991, The Investment, Financing and Control of the Firm: A Long-Run Survival View, Cambridge Journal of Economics 15: 393-403.
    • (1991) Cambridge Journal of Economics , vol.15 , pp. 393-403
    • Chamberlain, T.W.1    Gordon, M.J.2
  • 25
    • 0038212663 scopus 로고
    • Are Public Funds Mortgaging Their Future?
    • Clark, S.: 1991, Are Public Funds Mortgaging Their Future?, Institutional Investor 25(8): 59-62.
    • (1991) Institutional Investor , vol.25 , Issue.8 , pp. 59-62
    • Clark, S.1
  • 26
    • 21844434254 scopus 로고
    • A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance
    • Clarkson, M.B.E.: 1995, A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance, Academy of Management Review 20(1): 92-117.
    • (1995) Academy of Management Review , vol.20 , Issue.1 , pp. 92-117
    • Clarkson, M.B.E.1
  • 28
    • 0030269310 scopus 로고    scopus 로고
    • Barriers to Effective Corporate Governance by Institutional Investors: Implications for Theory and Practice
    • David, P. and Kochhar, R.: 1996, Barriers to Effective Corporate Governance by Institutional Investors: Implications for Theory and Practice, European Management Journal 14(5): 457-466.
    • (1996) European Management Journal , vol.14 , Issue.5 , pp. 457-466
    • David, P.1    Kochhar, R.2
  • 30
    • 84904915848 scopus 로고
    • Organization Theory and the Market for Corporate Control: A Dynamic Analysis of the Characteristics of large Takeover Targets: 1980-1990
    • Davis, G.F. and Stout, S.K.: 1992, Organization Theory and the Market for Corporate Control: A Dynamic Analysis of the Characteristics of large Takeover Targets: 1980-1990, Administrative Science Quarterly 37: 605-633.
    • (1992) Administrative Science Quarterly , vol.37 , pp. 605-633
    • Davis, G.F.1    Stout, S.K.2
  • 31
    • 0029715608 scopus 로고    scopus 로고
    • The Distorting Effect of the Prudent-Man Laws on Institutional Equity Investments
    • Del Guerico, D.: 1996, The Distorting Effect of the Prudent-Man Laws on Institutional Equity Investments, Journal of Financial Economics 40: 31-62.
    • (1996) Journal of Financial Economics , vol.40 , pp. 31-62
    • Del Guerico, D.1
  • 32
    • 0042377866 scopus 로고    scopus 로고
    • The Motivation and Impact of Pension Fund Activism
    • Del Guercio, D. and Hawkins, J.: 1999, The Motivation and Impact of Pension Fund Activism, Journal of Financial Economics 52: 293-340.
    • (1999) Journal of Financial Economics , vol.52 , pp. 293-340
    • Del Guerico, D.1    Hawkins, J.2
  • 33
    • 43949157744 scopus 로고
    • Defining Responsible Ownership
    • Demb, A. and Richey, B.: 1994, Defining Responsible Ownership, European Management Journal 12(3): 287-297.
    • (1994) European Management Journal , vol.12 , Issue.3 , pp. 287-297
    • Demb, A.1    Richey, B.2
  • 34
    • 47749120440 scopus 로고
    • Financial Intermediation and Delegated Monitoring
    • Diamond, D.W.: 1984, Financial Intermediation and Delegated Monitoring, Review of Economic Studies 51: 393-414.
    • (1984) Review of Economic Studies , vol.51 , pp. 393-414
    • Diamond, D.W.1
  • 35
    • 0041095437 scopus 로고    scopus 로고
    • Financial Intermediation as Delegated Monitoring: A Simple Example
    • Diamond, D.W.: 1996, Financial Intermediation as Delegated Monitoring: A Simple Example, Economic Quarterly 82(3): 51-66.
    • (1996) Economic Quarterly , vol.82 , Issue.3 , pp. 51-66
    • Diamond, D.W.1
  • 36
    • 0000953669 scopus 로고
    • The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields
    • DiMaggio, P.J. and Powell, W.W.: 1983, The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields, American Sociological Review 48(4): 147-160.
    • (1983) American Sociological Review , vol.48 , Issue.4 , pp. 147-160
    • DiMaggio, P.J.1    Powell, W.W.2
  • 38
    • 0001887812 scopus 로고
    • Fiduciary Responsibilities of Investment Managers and Trustees
    • Droms, W.G.: 1992, Fiduciary Responsibilities of Investment Managers and Trustees, Financial Analysts Journal 48(4): 58-64.
    • (1992) Financial Analysts Journal , vol.48 , Issue.4 , pp. 58-64
    • Droms, W.G.1
  • 40
    • 0001336426 scopus 로고
    • Agency Theory: An Assessment and Review
    • Eisenhardt, K.M.: 1989, Agency Theory: An Assessment and Review, Academy of Management Review 14(1): 57-74.
    • (1989) Academy of Management Review , vol.14 , Issue.1 , pp. 57-74
    • Eisenhardt, K.M.1
  • 41
    • 0000962919 scopus 로고
    • A Stakeholder Theory of the Modern Corporation: Kantian Capitalism
    • in T.L. Beauchamp and N.E. Bowie (eds.), (Englewood Cliffs, NJ: Prentice Hall)
    • Evan, W.M. and Freeman, R.E.: 1988, A Stakeholder Theory of the Modern Corporation: Kantian Capitalism, in T.L. Beauchamp and N.E. Bowie (eds.), Ethical Theory and Business (Englewood Cliffs, NJ: Prentice Hall), pp. 97-106.
    • (1988) Ethical Theory and Business , pp. 97-106
    • Evan, W.M.1    Freeman, R.E.2
  • 42
    • 0000806744 scopus 로고
    • Agency Problems and the Theory of the Firm
    • Fama, E.F.: 1980, Agency Problems and the Theory of the Firm, Journal of Political Economy 88(2): 288-307.
    • (1980) Journal of Political Economy , vol.88 , Issue.2 , pp. 288-307
    • Fama, E.F.1
  • 44
    • 0039000856 scopus 로고
    • Unionism in the Public Sector: The Joy of Protected Markets
    • Feuille, P.: 1991, Unionism in the Public Sector: The Joy of Protected Markets, Journal of Labor Research 12(4): 351-368.
    • (1991) Journal of Labor Research , vol.12 , Issue.4 , pp. 351-368
    • Feuille, P.1
  • 45
    • 9744256370 scopus 로고    scopus 로고
    • Explaining the Union Gap: Public-Private Sector Differences in Preferences for Unionization
    • Fiorito, J. and Stepina, L.P.: 1996, Explaining the Union Gap: Public-Private Sector Differences in Preferences for Unionization, Journal of Labor Research 17(3): 463-479.
    • (1996) Journal of Labor Research , vol.17 , Issue.3 , pp. 463-479
    • Fiorito, J.1    Stepina, L.P.2
  • 47
    • 0001973012 scopus 로고
    • Stockholders and Stakeholders: A New Perspective on Corporate Governance
    • Freeman, R.E. and Reed, D.L.: 1983, Stockholders and Stakeholders: A New Perspective on Corporate Governance, California Management Review 19(4): 337-359.
    • (1983) California Management Review , vol.19 , Issue.4 , pp. 337-359
    • Freeman, R.E.1    Reed, D.L.2
  • 48
    • 79957550341 scopus 로고
    • Institutional Investors and the New Financial Order
    • Garten, H.: 1992, Institutional Investors and the New Financial Order, Rutgers Law Review 44(3): 585-674.
    • (1992) Rutgers Law Review , vol.44 , Issue.3 , pp. 585-674
    • Garten, H.1
  • 49
    • 84965455419 scopus 로고
    • Ownership, Strategy and Performance: Is the Dichotomy Sufficient?
    • Gedajlovic, E.: 1993, Ownership, Strategy and Performance: Is the Dichotomy Sufficient?, Organization Studies 15(5): 731-752.
    • (1993) Organization Studies , vol.15 , Issue.5 , pp. 731-752
    • Gedajlovic, E.1
  • 50
    • 67149107196 scopus 로고
    • Institutions as Relational Investors: A New Look at Cumulative Voting
    • (March)
    • Gordon, J.N.: 1994, Institutions as Relational Investors: A New Look at Cumulative Voting, Columbia Law Review 94(March): 124-192.
    • (1994) Columbia Law Review , vol.94 , pp. 124-192
    • Gordon, J.N.1
  • 51
    • 69649099362 scopus 로고    scopus 로고
    • Who's Watching Out For the Shareholders?
    • June 8
    • Gould, C.: 1997, Who's Watching Out For the Shareholders?, The New York Times June 8: 6.
    • (1997) The New York Times , pp. 6
    • Gould, C.1
  • 52
    • 0002876619 scopus 로고
    • Institutional Ownership and Control: Implications for Long-Term Corporate Strategy
    • Graves, S.B. and Waddock, S.A.: 1990, Institutional Ownership and Control: Implications for Long- Term Corporate Strategy, Academy of Management Executive 4(1): 75-83.
    • (1990) Academy of Management Executive , vol.4 , Issue.1 , pp. 75-83
    • Graves, S.B.1    Waddock, S.A.2
  • 53
    • 0037875102 scopus 로고    scopus 로고
    • Greenwich Associates:, (Greenwich, CT: Greenwich Associates)
    • Greenwich Associates: 1996, Investment Management 1996 (Greenwich, CT: Greenwich Associates).
    • (1996) Investment Management 1996
  • 54
    • 0002269365 scopus 로고
    • Incentive Fees: Who Wins? Who Loses?
    • Grinold, R. and Rudd, A.: 1987, Incentive Fees: Who Wins? Who Loses?, Financial Analysts Journal 43(1): 27-38.
    • (1987) Financial Analysts Journal , vol.43 , Issue.1 , pp. 27-38
    • Grinold, R.1    Rudd, A.2
  • 56
    • 84989039931 scopus 로고
    • Are Institutional Owners Myopic? A Time-Series Study of Four Technology-Driven Companies
    • Hansen, G.S. and Hill, S.W.L.: 1991, Are Institutional Owners Myopic? A Time-Series Study of Four Technology-Driven Companies, Strategic Management Journal 12: 1-16.
    • (1991) Strategic Management Journal , vol.12 , pp. 1-16
    • Hansen, G.S.1    Hill, S.W.L.2
  • 62
    • 0037875155 scopus 로고    scopus 로고
    • Public Pension Plan Efficiency
    • in M.S. Gordon, O.S. Mitchell and M.M. Twinney (eds.), (Philadelphia, PA: The Pension Research Council, Wharton School of The University of Pennsylvania)
    • Hsin, P.-L. and Mitchell, O.S.: 1997, Public Pension Plan Efficiency, in M.S. Gordon, O.S. Mitchell and M.M. Twinney (eds.), Positioning Pensions for the Twenty-First Century (Philadelphia, PA: The Pension Research Council, Wharton School of The University of Pennsylvania), pp. 187-208.
    • (1997) Positioning Pensions for the Twenty-First Century , pp. 187-208
    • Hsin, P.-L.1    Mitchell, O.S.2
  • 63
    • 0011182760 scopus 로고
    • ERISA Turns 20
    • Institutional Investor
    • Institutional Investor: 1994, ERISA Turns 20, Institutional Investor 28(8): 67-71.
    • (1994) Institutional Investor , vol.28 , Issue.8 , pp. 67-71
  • 64
    • 77952459888 scopus 로고    scopus 로고
    • Investor Company Institute:, (Washington, D.C.: Investment Company Institute)
    • Investor Company Institute: 1996, 1996 Mutual Funds Fact Book (Washington, D.C.: Investment Company Institute).
    • (1996) 1996 Mutual Funds Fact Book
  • 66
    • 0001987624 scopus 로고
    • On Studies of Mutual Fund Performance, 1962-1991
    • (January-February)
    • Ippolito, R.A.: 1993, On Studies of Mutual Fund Performance, 1962-1991, Financial Analysts Journal 49(January-February): 42-50.
    • (1993) Financial Analysts Journal , vol.49 , pp. 42-50
    • Ippolito, R.A.1
  • 67
    • 0000486548 scopus 로고
    • The Performance of Mutual Funds in the Period 1945-1964
    • Jensen, M.C.: 1968, The Performance of Mutual Funds in the Period 1945-1964, Journal of Finance 23: 16-26.
    • (1968) Journal of Finance , vol.23 , pp. 16-26
    • Jensen, M.C.1
  • 68
    • 44649197264 scopus 로고
    • Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure
    • Jensen, M.C. and Meckling, W.H.: 1976, Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, The Journal of Financial Economics 3(4): 305-360.
    • (1976) The Journal of Financial Economics , vol.3 , Issue.4 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 69
    • 84936016411 scopus 로고
    • Performance Pay and Top-Management Incentives
    • Jensen, M.C. and Murphy, K.J.: 1990, Performance Pay and Top-Management Incentives, Journal of Political Economy 98(2): 225-264.
    • (1990) Journal of Political Economy , vol.98 , Issue.2 , pp. 225-264
    • Jensen, M.C.1    Murphy, K.J.2
  • 74
    • 4244000637 scopus 로고
    • 3rd ed. (Miami, FL: Kolb Publishing Co.)
    • Kolb, R.W.: 1994, Investments, 3rd ed. (Miami, FL: Kolb Publishing Co.).
    • (1994) Investments
    • Kolb, R.W.1
  • 75
    • 84992824576 scopus 로고
    • A Note on the Separation of Ownership and Control
    • Koshal, R.K. and Pejovich, S.: 1992, A Note on the Separation of Ownership and Control, Management International Review 32(Special Issue): 103-198.
    • (1992) Management International Review , vol.32 , Issue.SPEC. ISSUE , pp. 103-198
    • Koshal, R.K.1    Pejovich, S.2
  • 76
    • 0001105013 scopus 로고
    • Monitoring the Monitor: An Incentive Structure for a Financial Intermediary
    • Krasa, S. and Villamil, A.P.: 1992, Monitoring the Monitor: An Incentive Structure for a Financial Intermediary, Journal of Economic Theory 57: 197-221.
    • (1992) Journal of Economic Theory , vol.57 , pp. 197-221
    • Krasa, S.1    Villamil, A.P.2
  • 77
    • 84989114139 scopus 로고
    • Co-Evolution of Capabilities and Industry: The Evolution of Mutual Fund Processing
    • Levinthal, D. and Myatt, J.: 1994, Co-Evolution of Capabilities and Industry: The Evolution of Mutual Fund Processing, Strategic Management Journal 15: 45-62.
    • (1994) Strategic Management Journal , vol.15 , pp. 45-62
    • Levinthal, D.1    Myatt, J.2
  • 78
    • 69649104096 scopus 로고
    • Pension Funds and Economic Renewal
    • in M. Barker (ed.), (Durham, North Carolina: Duke Press Policy Studies)
    • Litvak, L.: 1983, Pension Funds and Economic Renewal, in M. Barker (ed.), Financing State and Local Development (Durham, North Carolina: Duke Press Policy Studies).
    • (1983) Financing State and Local Development
    • Litvak, L.1
  • 80
    • 84886331212 scopus 로고
    • Corporate Activists set up on the Web
    • Lux, H.: 1995, Corporate Activists set up on the Web, Investment Dealers Digest 61(49): 8.
    • (1995) Investment Dealers Digest , vol.61 , Issue.49 , pp. 8
    • Lux, H.1
  • 81
    • 0038551552 scopus 로고
    • (Lexington, MA: Lexington Books)
    • Lynn, R.J.: 1983, The Pension Crisis (Lexington, MA: Lexington Books).
    • (1983) The Pension Crisis
    • Lynn, R.J.1
  • 82
    • 0000297803 scopus 로고
    • Mergers and the Market for Corporate Control
    • Manne, H.G.: 1965, Mergers and the Market for Corporate Control, Journal of Political Economy 73(4): 110-120.
    • (1965) Journal of Political Economy , vol.73 , Issue.4 , pp. 110-120
    • Manne, H.G.1
  • 87
    • 0031529953 scopus 로고    scopus 로고
    • Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts
    • Mitchell, R.K., Agle, B.R. and Wood, D.J.: 1997, Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts, Academy of Management Review 22(4): 853-886.
    • (1997) Academy of Management Review , vol.22 , Issue.4 , pp. 853-886
    • Mitchell, R.K.1    Agle, B.R.2    Wood, D.J.3
  • 88
    • 4243840388 scopus 로고    scopus 로고
    • Corporate Governance and Pension Plans
    • in M.S. Gordon, O.S. Mitchell and M.M. Twinney (eds.), (Philadelphia, PA: Pension Research Council, Wharton School of The University of Pennsylvania)
    • Monks, R.A.G.: 1997, Corporate Governance and Pension Plans, in M.S. Gordon, O.S. Mitchell and M.M. Twinney (eds.), Positioning Pensions for the Twenty-First Century (Philadelphia, PA: Pension Research Council, Wharton School of The University of Pennsylvania), pp. 139-158.
    • (1997) Positioning Pensions for the Twenty-First Century , pp. 139-158
    • Monks, R.A.G.1
  • 91
    • 84886354749 scopus 로고    scopus 로고
    • The "CalPERS Effect" on Targeted Company Share Prices
    • Paper presented at New York University Salomon Center, Conference on The Power and Influence of Pension and Mutual Funds, February 1997
    • Nesbitt, S.L.: 1997, The "CalPERS Effect" on Targeted Company Share Prices. Paper presented at New York University Salomon Center, Conference on The Power and Influence of Pension and Mutual Funds, February 1997.
    • (1997)
    • Nesbitt, S.L.1
  • 92
    • 84965716269 scopus 로고
    • Agency Theory and Uncertainty in Organizations: An Evaluation
    • Nilakant, V. and Rao, H.: 1994, Agency Theory and Uncertainty in Organizations: An Evaluation, Organization Studies 15(5): 649-672.
    • (1994) Organization Studies , vol.15 , Issue.5 , pp. 649-672
    • Nilakant, V.1    Rao, H.2
  • 93
    • 84970122664 scopus 로고
    • The Problem of Contract Enforcement in Economic Organization Theory
    • Noorderhaven, N.G.: 1992, The Problem of Contract Enforcement in Economic Organization Theory, Organization Studies 13(2): 229-243.
    • (1992) Organization Studies , vol.13 , Issue.2 , pp. 229-243
    • Noorderhaven, N.G.1
  • 94
    • 4243510654 scopus 로고    scopus 로고
    • Those Wild Swings, Examined
    • February
    • Norris, F.: 1996, Those Wild Swings, Examined, The New York Times February 29: D1+.
    • (1996) The New York Times , vol.29
    • Norris, F.1
  • 96
    • 84989104593 scopus 로고
    • The Influence of Ownership on Performance: An Empirical Study
    • Oswald, S.L. and Jahera, J.S. Jr.: 1991, The Influence of Ownership on Performance: An Empirical Study, Strategic Management Journal 12: 321-326.
    • (1991) Strategic Management Journal , vol.12 , pp. 321-326
    • Oswald, S.L.1    Jahera Jr., J.S.2
  • 97
    • 0031311992 scopus 로고    scopus 로고
    • European Patterns of Corporate Ownership: A Twelve-Country Study
    • Pedersen, T. and Thomsen, S.: 1997, European Patterns of Corporate Ownership: A Twelve-Country Study, Journal of International Business Studies 28(4): 759-778.
    • (1997) Journal of International Business Studies , vol.28 , Issue.4 , pp. 759-778
    • Pedersen, T.1    Thomsen, S.2
  • 99
    • 0001057797 scopus 로고
    • The Public-Private Distinction in Organization Theory: A Critique and Research Agenda
    • Perry, J.L. and Rainey, H.G.: 1988, The Public-Private Distinction in Organization Theory: A Critique and Research Agenda, Academy of Management Review 13(2): 182-210.
    • (1988) Academy of Management Review , vol.13 , Issue.2 , pp. 182-210
    • Perry, J.L.1    Rainey, H.G.2
  • 100
    • 0004246770 scopus 로고
    • (Cambridge, MA: Ballinger Publishing Co.)
    • Pfeffer, J.: 1981, Power in Organizations (Cambridge, MA: Ballinger Publishing Co.).
    • (1981) Power in Organizations
    • Pfeffer, J.1
  • 102
    • 1542735911 scopus 로고    scopus 로고
    • Corporate Governance: Opportunity for Institutions
    • Pomeranz, F.: 1998, Corporate Governance: Opportunity for Institutions, Journal of Investing 7(3): 25-29.
    • (1998) Journal of Investing , vol.7 , Issue.3 , pp. 25-29
    • Pomeranz, F.1
  • 103
    • 0002633694 scopus 로고
    • Principals and Agents: An Overview
    • in J.W. Pratt and R.J. Zeckhauser (eds.), (Boston, MA: Harvard Business School Press)
    • Pratt, J.W. and Zeckhauser, R.J.: 1985, Principals and Agents: An Overview, in J.W. Pratt and R.J. Zeckhauser (eds.), Principals and Agents: The Structure of Business (Boston, MA: Harvard Business School Press), pp. 1-35.
    • (1985) Principals and Agents: The Structure of Business , pp. 1-35
    • Pratt, J.W.1    Zeckhauser, R.J.2
  • 104
    • 0011184778 scopus 로고
    • (Glenview, IL: Scott Foresman)
    • Radcliffe, R.C.: 1990, Investments (Glenview, IL: Scott Foresman).
    • (1990) Investments
    • Radcliffe, R.C.1
  • 106
    • 0003631618 scopus 로고
    • (Cambridge: Cambridge University Press)
    • Rasmusen, E.: 1989, Games and Information (Cambridge: Cambridge University Press).
    • (1989) Games and Information
    • Rasmusen, E.1
  • 107
    • 69649091865 scopus 로고    scopus 로고
    • Tapping new Riches in the Old World
    • Feburary
    • Reed, S.: 1998, Tapping new Riches in the Old World, Business Week Feburary 9: 130.
    • (1998) Business Week , vol.9 , pp. 130
    • Reed, S.1
  • 108
    • 0000043150 scopus 로고
    • Strategic Management in Public and Private Organizations: Implications of Distinctive Contexts and Constraints
    • Ring, P.S. and Perry, J.L.: 1985, Strategic Management in Public and Private Organizations: Implications of Distinctive Contexts and Constraints, Academy of Management Review 10(2): 276-286.
    • (1985) Academy of Management Review , vol.10 , Issue.2 , pp. 276-286
    • Ring, P.S.1    Perry, J.L.2
  • 110
    • 84920431829 scopus 로고
    • Public Pension Fund Activism in Corporate Governance Reconsidered
    • Romano, R.: 1993, Public Pension Fund Activism in Corporate Governance Reconsidered, Columbia Law Review 93(4): 795-853.
    • (1993) Columbia Law Review , vol.93 , Issue.4 , pp. 795-853
    • Romano, R.1
  • 111
    • 0011253914 scopus 로고
    • Institutionalization of the Equity Markets
    • (Winter)
    • Schwartz, R.A.: 1991, Institutionalization of the Equity Markets, Journal of Portfolio Management 17(Winter): 44-49.
    • (1991) Journal of Portfolio Management , vol.17 , pp. 44-49
    • Schwartz, R.A.1
  • 112
    • 0006930127 scopus 로고    scopus 로고
    • Securities Industry Association, (New York: Securities Industry Association)
    • Securities Industry Association: 1999, Securities Industry Fact Book (New York: Securities Industry Association).
    • (1999) Securities Industry Fact Book
  • 113
    • 4243421986 scopus 로고
    • Changes in Financial Intermediation: The Role of Pension and Mutual Funds
    • in S. Rose (ed.), 6th ed. (Burr Ridge, IL: Irwin)
    • Sellon, G.H., Jr.: 1994, Changes in Financial Intermediation: The Role of Pension and Mutual Funds, in S. Rose (ed.), Readings in Financial Institutions and Markets, 6th ed. (Burr Ridge, IL: Irwin), pp. 129-145.
    • (1994) Readings in Financial Institutions and Markets , pp. 129-145
    • Sellon Jr., G.H.1
  • 114
    • 0031522373 scopus 로고    scopus 로고
    • Professional as Agent: Knowledge Asymmetry in Agency Exchange
    • Sharma, A.: 1997, Professional as Agent: Knowledge Asymmetry in Agency Exchange, Academy of Management Review 22(3): 758-798.
    • (1997) Academy of Management Review , vol.22 , Issue.3 , pp. 758-798
    • Sharma, A.1
  • 115
    • 0001752951 scopus 로고
    • Mutual Fund Performance
    • Sharpe, W.F.: 1966, Mutual Fund Performance, Journal of Business 39: 119-138.
    • (1966) Journal of Business , vol.39 , pp. 119-138
    • Sharpe, W.F.1
  • 116
    • 84936823587 scopus 로고
    • Large Shareholders and Corporate Control
    • Shleifer, A. and Vishny, R.W.: 1986, Large Shareholders and Corporate Control, Journal of Political Economy 94(3): 461-488.
    • (1986) Journal of Political Economy , vol.94 , Issue.3 , pp. 461-488
    • Shleifer, A.1    Vishny, R.W.2
  • 117
    • 0001026456 scopus 로고    scopus 로고
    • A Survey of Corporate Governance
    • Shleifer, A. and Vishny, R.W.: 1997, A Survey of Corporate Governance, Journal of Finance LII(2): 737-783.
    • (1997) Journal of Finance , vol.LII , Issue.2 , pp. 737-783
    • Shleifer, A.1    Vishny, R.W.2
  • 118
    • 0039120739 scopus 로고    scopus 로고
    • Shareholder Activism by Institutional Investors: Evidence from CalPERS
    • Smith, M.P.: 1996, Shareholder Activism by Institutional Investors: Evidence from CalPERS, The Journal of Finance LI(1): 227-252.
    • (1996) The Journal of Finance , vol.LI , Issue.1 , pp. 227-252
    • Smith, M.P.1
  • 119
    • 0038272226 scopus 로고    scopus 로고
    • Conflicting Shareholder Interests: An Empirical Analysis of Fair Price Provisions
    • Sundaramurthy, C. and Rechner, P.L.: 1997, Conflicting Shareholder Interests: An Empirical Analysis of Fair Price Provisions, Business & Society 36(1): 73-87.
    • (1997) Business & Society , vol.36 , Issue.1 , pp. 73-87
    • Sundaramurthy, C.1    Rechner, P.L.2
  • 120
    • 69649090977 scopus 로고    scopus 로고
    • A Fresh Look at Defined Benefit Plans: An Employer Perspective
    • in M.S. Gordon, O.S. Mitchell and M.M. Twinney (eds.), (Philadelphia, PA: The Pension Research Council,Wharton School of The University of Pennsylvania)
    • Twinney, M.M.: 1997, A Fresh Look at Defined Benefit Plans: An Employer Perspective, in M.S. Gordon, O.S. Mitchell and M.M. Twinney (eds.), Positioning Pensions for the Twenty-First Century (Philadelphia, PA: The Pension Research Council,Wharton School of The University of Pennsylvania), pp. 15-28.
    • (1997) Positioning Pensions for the Twenty-First Century , pp. 15-28
    • Twinney, M.M.1
  • 121
    • 69649087938 scopus 로고    scopus 로고
    • U.S. General Accounting Office, U.S. General Accounting Office, GAO/AIMD-96-6, Washington, D.C
    • U.S. General Accounting Office: 1996, Public Pension Plans: Summary of Federal Data. U.S. General Accounting Office, GAO/AIMD-96-6, Washington, D.C.
    • (1996) Public Pension Plans: Summary of Federal Data
  • 122
    • 0004194355 scopus 로고
    • (Cambridge, MA: Harvard University Press)
    • Useem, M.: 1993, Executive Defense (Cambridge, MA: Harvard University Press).
    • (1993) Executive Defense
    • Useem, M.1
  • 123
  • 124
    • 0037875163 scopus 로고    scopus 로고
    • Holders of the Public Pension Strings: Governance and Performance of Public Retirement Systems
    • Wharton School of The University of Pennsylvania Working Paper
    • Useem, M. and Mitchell, O.S.: 1998, Holders of the Public Pension Strings: Governance and Performance of Public Retirement Systems,Wharton School of The University of Pennsylvania Working Paper.
    • (1998)
    • Useem, M.1    Mitchell, O.S.2
  • 125
    • 38249003171 scopus 로고
    • US Institutional Investors Look at Corporate Governance in the 1990s
    • Useem, M., Bowman, E.H., Myatt, J. and Irvine, C.W.: 1993, US Institutional Investors Look at Corporate Governance in the 1990s, European Management Journal 11(2): 175-189.
    • (1993) European Management Journal , vol.11 , Issue.2 , pp. 175-189
    • Useem, M.1    Bowman, E.H.2    Myatt, J.3    Irvine, C.W.4
  • 126
    • 84973815425 scopus 로고
    • Role Conflict and Role Ambiguity: Integration of the Literature and Directions for Future Research
    • Van Sell, M., Brief, A.P. and Schuler, R.S.: 1981, Role Conflict and Role Ambiguity: Integration of the Literature and Directions for Future Research, Human Relations 34(1): 43-71.
    • (1981) Human Relations , vol.34 , Issue.1 , pp. 43-71
    • van Sell, M.1    Brief, A.P.2    Schuler, R.S.3
  • 129
    • 69649087024 scopus 로고
    • Some Variables Affecting a Constituent's Evaluation of and Behavior Toward a Boundary Role Occupant
    • in D. Katz, R.L. Kahn and J.S. Adams (eds.), (San Francisco, CA: Jossey-Bass Publishers)
    • Wall, J.A. Jr. and Adams, J.S.: 1980, Some Variables Affecting a Constituent's Evaluation of and Behavior Toward a Boundary Role Occupant, in D. Katz, R.L. Kahn and J.S. Adams (eds.), The Study of Organizations (San Francisco, CA: Jossey-Bass Publishers), pp. 157-171.
    • (1980) The Study of Organizations , pp. 157-171
    • Wall Jr., J.A.1    Adams, J.S.2
  • 130
    • 0000837829 scopus 로고
    • On the Efficiency of Internal and External Corporate Control Mechanisms
    • Walsh, J.P. and Seward, J.K.: 1990, On the Efficiency of Internal and External Corporate Control Mechanisms, Academy of Management Review 15(3): 421-458.
    • (1990) Academy of Management Review , vol.15 , Issue.3 , pp. 421-458
    • Walsh, J.P.1    Seward, J.K.2
  • 131
    • 0011183801 scopus 로고    scopus 로고
    • Corporate Governance - An International Comparison
    • Woods, J.E.: 1996, Corporate Governance-An International Comparison, Benefits and Compensation International 25(9): 2-9.
    • (1996) Benefits and Compensation International , vol.25 , Issue.9 , pp. 2-9
    • Woods, J.E.1
  • 132
    • 0038551479 scopus 로고    scopus 로고
    • Public Pension Plans
    • Woods, J.O.: 1996, Public Pension Plans, Benefits Quarterly 12(3): 69-74.
    • (1996) Benefits Quarterly , vol.12 , Issue.3 , pp. 69-74
    • Woods, J.O.1
  • 133
    • 69649105738 scopus 로고    scopus 로고
    • SEC Proposal Would Revamp Mutual Funds' Sales Policies
    • March
    • Wyatt, E.: 1996, SEC Proposal Would Revamp Mutual Funds' Sales Policies, The New York Times March 29: D1+.
    • (1996) The New York Times , vol.29
    • Wyatt, E.1
  • 134
    • 24844460869 scopus 로고    scopus 로고
    • The Not-So-Invisible Hand in the Great Dow Climb
    • February
    • Wyatt, E.: 1997a, The Not-So-Invisible Hand in the Great Dow Climb, The New York Times February 16: F3.
    • (1997) The New York Times , vol.16
    • Wyatt, E.1
  • 135
    • 69649103570 scopus 로고    scopus 로고
    • Asset Growth of Mutual Funds Doesn't Reduce Fees, a Study Says
    • September
    • Wyatt, E.: 1997b, Asset Growth of Mutual Funds Doesn't Reduce Fees, a Study Says, The New York Times September 25: D2.
    • (1997) The New York Times , vol.25
    • Wyatt, E.1
  • 136
    • 84886315605 scopus 로고
    • PPCC 1993 Survey Results
    • Zorn, P.: 1994, PPCC 1993 Survey Results, Government Finance Review 10(8): 33-35.
    • (1994) Government Finance Review , vol.10 , Issue.8 , pp. 33-35
    • Zorn, P.1
  • 137


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.