{"product_id":"9781349948628","title":"Finance and Occupational Pensions: Theories and International Evidence","description":"\u003ch1\u003eFinance and Occupational Pensions: Theories and International Evidence\u003c\/h1\u003e \u003ch2\u003eSutcliffe, Charles\u003c\/h2\u003e \u003cp\u003e\u003c\/p\u003e\u003cp\u003eOccupational pensions are major participants in\nglobal financial markets with assets of well over $30 trillion, representing\nmore than 40% of the assets of institutional investors. Some occupational\npension funds control assets of over $400 billion, and the largest 300\noccupational pension funds each have average assets of over $50 billion. The\nassets of UK pension funds are equivalent to UK GDP, and US pension fund assets\nare 83% of US GDP. These statistics highlight the importance of pension funds\nas major players in financial markets, and the need to understand the behaviour\nof these large institutional investors. Occupational pensions also play an\nimportant, but neglected, role in corporate finance. For example, US company\npension schemes account for over 60% of company market value, and yet they are\noften ignored when analysing companies.\u003c\/p\u003e\n\nThis book is based on the substantial body of\nevidence available from around the world on a topic that has become\nincreasingly importantand controversial in recent years. Written for\npractitioners, students and academics, this book brings together and\nsystematizes a very large international literature from financial economists,\nactuaries, practitioners, professional organizations, official documents and\nreports. The underlying focus is the application of the principles of financial\neconomics to occupational pensions, including the work of  Nobel laureates such as Merton, Markowitz,\nModigliani, Miller and Sharpe, as well as Black.\n\nThis book will give readers an up-to-date\nunderstanding of occupational pensions, the economic issues they face, and some\nsuggestions of how these issues can be tackled. The first section explains the\noperation of defined benefit and defined contribution pensions, along with some\ndescriptive statistics. The second section covers selected aspects of\noccupational pensions. The focus of these first two sections is on the economic\nand financial aspects of pensions, accompanied by some basic information on how\nthey operate. This is followed by three further sections that analyse the\ninvestment of pension funds, the corporate finance implications of firms\nproviding pensions for their employees, and annuities.  \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Palgrave Macmillan\u003c\/p\u003e \u003cp\u003ePublication Date: 2016-12-29\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003eISBN-13: 9781349948628\u003c\/p\u003e \u003cp\u003eDOI: 10.1057\/978-1-349-94863-5\u003c\/p\u003e \u003cp\u003eDimensions: 235cm x155cm\u003c\/p\u003e \u003cp\u003ePages: 317\u003c\/p\u003e ","brand":"Palgrave Macmillan UK","offers":[{"title":"Default Title","offer_id":45662517493900,"sku":"9781349948628","price":49.49,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9781349948628.jpg?v=1775964157","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9781349948628","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}