In an ideal world, the financial interests of asset managers would be perfectly aligned with those of their investors via optimal incentive contracts. In the real world, this is often not the case. It is worthwhile investigating how to improve the current…
Keyword: Alignment
Performance-Based Fees and Moral Hazard: Aligning the Interests of Investors and Managers
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May 12, 2010 ยท Pension Institutions in the 21st Century: Structure, Governance & Stakeholder Relations Volume 3, Issue 1 /2010
Keywords:
Alignment, Delegated Management, Moral Hazard, Pension Fund, Performance Fee, Principal-Agent
DOI: 10.3138/rijpm.3.1.68
Pages: 68 - 74