Effect of Corporate Governance, Investment Strategy and Macroeconomic Factors on Financial Performance of Pension Schemes in Kenya - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Effect of Corporate Governance, Investment Strategy and Macroeconomic Factors on Financial Performance of Pension Schemes in Kenya write by William Akwimbi. This book was released on 2020. Effect of Corporate Governance, Investment Strategy and Macroeconomic Factors on Financial Performance of Pension Schemes in Kenya available in PDF, EPUB and Kindle. Pension schemes form a significant part of the global investment portfolio. In Kenya, they hold over 13% of the country's GDP (OECD, 2018). Their importance is underscored by the fact that they contribute significantly to growth and development of world economies (Kakwani, Davis, 2005; Heijdra, Ligthart & Jency, 2006). Their financial performance is critical to the provision of retirement benefits. Khan, Nouman & Imran (2015) observed that the financial performance indicates measures to which economic goals of an organisation has been accomplished over particular time period. Pension schemes however, face numerous challenges that can render the generation of retirement benefits inadequate. A number of studies have been undertaken to evaluate the impact of factors that influence performance of pension funds resulting in mixed and sometimes inconclusive findings. This study sought to assess the effect of corporate governance, investment strategy, interest rate, inflation rate, exchange rate and GDP growth rate on performance of pension funds in Kenya. The study was done using annual data on pension funds and economic indicators spanning the period 1997 to 2018. In addition, it used questionnaires to gather data on corporate governance and investment strategy indices.Quantitative and correlational research design using Linear regression model was used to assess the effect of corporate governance, investment strategy, interest rate, inflation rates, GDP growth rates and exchange rate on pension performance. The study findings show that these factors had significant impact on pension funding. They however, varied on their individual contribution to the prediction of funding level of each pension fund.The study concludes that pension fund management and policy makers should take into consideration the effects of macroeconomic factors, corporate governance and investment strategy in decision making on investment plans to ensure generation of adequate funds to fulfill their key objective of providing retirement benefits to the members.
Assessment of Financial Sustainability of Pension Funds in Kenya
Assessment of Financial Sustainability of Pension Funds in Kenya - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Assessment of Financial Sustainability of Pension Funds in Kenya write by Vincent Amurono. This book was released on 2024-05-16. Assessment of Financial Sustainability of Pension Funds in Kenya available in PDF, EPUB and Kindle. Bachelor Thesis from the year 2024 in the subject Business economics - Investment and Finance, grade: 1, , course: Department of mathematics and Computer Science, language: English, abstract: Pension funds are integral to ensuring financial security in retirement and fostering economic stability. In Kenya, the sustainability of these funds is crucial for supporting aging populations and facilitating long-term investment. This research project undertakes a comprehensive assessment of the financial sustainability of pension funds in Kenya, examining key factors influencing their viability and effectiveness. The study evaluates the current financial status of pension funds, analyzing asset-liability dynamics, investment strategies, and regulatory frameworks. It also investigates demographic trends. The study employs actuarial techniques and methodologies to analyze data, model future scenarios, and evaluate the risks and opportunities facing pension funds in Kenya. By examining demographic trends, inflation rates, Investment portfolio and regulatory requirements, the research aims to provide insights into the factors influencing the financial sustainability of pension funds. The findings highlight the importance of enhancing regulatory oversight, optimizing investment strategies, and addressing demographic shifts to ensure the long-term sustainability of pension funds in Kenya. The research concludes with actionable recommendations aimed at strengthening the pension system and supporting the financial well-being of retirees and the broader economy. Ultimately, this research contributes valuable insights to policymakers, regulators, and pension fund stakeholders, guiding efforts to enhance the resilience and effectiveness of Kenya's pension system in the face of evolving demographic and economic challenges.
In Whose Interests? [microform] : Democracy and Accountability for Corporate Governance Activity by Pension Funds
In Whose Interests? [microform] : Democracy and Accountability for Corporate Governance Activity by Pension Funds - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook In Whose Interests? [microform] : Democracy and Accountability for Corporate Governance Activity by Pension Funds write by Ronald B. (Ronald Book) Davis. This book was released on 2004. In Whose Interests? [microform] : Democracy and Accountability for Corporate Governance Activity by Pension Funds available in PDF, EPUB and Kindle. Pension funds in North America and the United Kingdom are substantial shareholders in corporations. For the most part, these shares are the result of the investment of pension plan contributions made by or on behalf of the sponsoring employer's employees. As substantial shareholders, pension funds have the ability to exercise voting and other rights attached to their shares to influence or control certain corporate decisions. Collectively, pension funds often have legal or de facto voting control of the corporation. My thesis is that the corporate governance decisions of pension funds ought to be made by the beneficiaries of those funds and/or their directly elected representatives because the beneficiaries' interests are not being served by the present decision-making structure. The present structure rests these decisions in the hands of the employer's management or those answerable directly to that management. The investment and corporate governance decisions of pension fund managers affect the interests of the beneficiaries through their impact on their future retirement security and the social, economic and political environment in which they will live. Thus, the grant of this power to pension fund managers by widely dispersed beneficiaries raises issues of legitimacy and the legitimate use of this power, and in particular, how the interests of the beneficiaries and the society in which they live are defined and taken account of in the decision-making process. My claim is that the present system fails to adequately define these interests and take them into account because it does not provide appropriate mechanisms of accountability to the beneficiaries. Both normative and prudential grounds are offered for my thesis. The normative grounds are rooted in the collectivization of property in the pension fund allowing beneficiaries to democratically determine the process by which their bonds with the community will be defined and agreed on in the context of corporate policy. The prudential grounds combine two factors: first, fund managers' conflicts of interest where corporate governance activity critical of corporate management is involved; second, the increasingly contested connections between long-term shareholder interests or the fundamental value of a corporation and share prices in securities markets. These factors provide justification for treating a pension fund's corporate governance policies as matters for democratic determination by the beneficiaries, rather than as matters of managerial expertise, especially since that expertise can also be provided as advice. After reviewing the implications of the thesis for pension and trust law, corporation law and securities regulation, the thesis presents a number of recommendations for changes in the law in order to empower pension plan beneficiaries with respect to the corporate governance policy of their pension fund.
Corporate Governance and Pension Fund Performance
Corporate Governance and Pension Fund Performance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Corporate Governance and Pension Fund Performance write by Oskar Kowalewski. This book was released on 2015. Corporate Governance and Pension Fund Performance available in PDF, EPUB and Kindle. 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 beneficiaries and the fund's owner, which depends on who bears the investment risk in the pension plan. Hence, different governance factors are found to be important for pension fund return on invested assets and also for its economic performance. Consequently, the overall policy conclusion is that more focus should be put on the governance of the pension funds, taking into account the different interests of the beneficiaries and owners as it may determine their performance.
Do Investment Regulations Compromise Pension Fund Performance?
Do Investment Regulations Compromise Pension Fund Performance? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Do Investment Regulations Compromise Pension Fund Performance? write by Pulle Subrahmanya Srinivas. This book was released on 1999. Do Investment Regulations Compromise Pension Fund Performance? available in PDF, EPUB and Kindle. 'Draconian' regulations have created distortions in asset management, limited opportunities for diversification, and, as a consequence have hampered, the performance of pension funds. This volume shows that the return to retirement assets, expected replacement rates, and, hence, the net welfare gain from pension reform is lower under a draconian regulatory framework than under a more liberal pension fund investment regime. Important policy conclusions of the paper are that existing regulatory regimes should be liberalized as soon as possible to allow pension fund investments in a wider array of financial instruments and that regulations should require evaluation of pension fund performance against market benchmarks as opposed to exclusive focus on comparisons with industry averages. The paper also suggests a review of the current structure of the private pension fund industry in Latin America and an evaluation against alternatives in the light of actual performance experience.
