دانلود مقاله ISI انگلیسی شماره 49459
عنوان فارسی مقاله

ساختار عملکردی و فضایی از صنعت مدیریت سرمایه گذاری

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
49459 2000 16 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
The functional and spatial structure of the investment management industry
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Geoforum, Volume 31, Issue 1, February 2000, Pages 71–86

کلمات کلیدی
صندوق های بازنشستگی - مدیریت سرمایه گذاری - توابع - ساختار
پیش نمایش مقاله
پیش نمایش مقاله ساختار عملکردی و فضایی از صنعت مدیریت سرمایه گذاری

چکیده انگلیسی

Most pension funds use an extensive array of service providers to administer and manage their financial assets. In this paper, I sketch a `map' of the functional structure of service provision and the apparent spatial configuration of those elements. Theoretically, the paper could be thought inspired by Richardson, Coase and Williamson, but goes on to consider three substantive issues particular to pension fund management: uncertainty, trustees' fiduciary duty, and managing within cost constraints. While it is apparent that service providers are allocated assets to manage on the basis of their relative costs and performance, it is also argued that the pattern of service provision in the industry reflects an on-going and unresolved tension between the economics of distrust (implying short-term contracts) and the virtues of commitment (implying long-term relationships). As part of this argument, I consider the role and responsibilities of consultants and advisers to pension fund trustees. Having established four basic models which describe the principal ways of managing the investment process, the paper then deals with the spatial and network related implications of these models. The paper draws upon recent research on pension fund investment in the US, Canada, the UK, and Australia reported in previous papers.

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