Managerial Finance


Accounting and Finance

Table Of Contents: Volume 23 Issue 8


Edward J. Zychowicz

This issue of Managerial Finance brings together five papers that explore the manifold dimensions of pension issues. The papers document and explain the dynamic changes…

Mutual Fund Investing Through Employer‐Sponsored Pension Plans: Investor Knowledge and Policy Implications

Gordon J. Alexander, Jonathan D. Jones, Peter J. Nigro

The flow of cash funds from employer‐sponsored pension plans into mutual funds has been an important driving force behind the mutual fund industry's unprecedented recent…

The Effect of Regulatory Change on Pension Funding Determinants

Jeffrey A. Manzi, Richard J. Curcio

Pension theory suggests and empirical tests indicate that optimal funding levels for defined benefit plans are determined on the basis of risk, taxes, and capital…

Pension Choice: An Analysis of U.S. Corporate Financial Characteristics and Post‐Reversion Pension Plan Formation

Edward J. Zychowicz

This paper examines the formation of pension plans from a corporate finance perspective. The theoretical underpinnings for selecting a defined‐benefit or…

Managerial Ownership and Termination of Overfunded Pension Plans associated with Financial Weakness

Zahid Iqbal, Shekar Shetty, Joseph Haley, Maliyakkal Jayakumar

Terminations of overfunded pension plans may strengthen a financially‐weak firm. When manager's interests are aligned with shareholder's, either through high levels of…

Survey on the Privatization of Social Security in Latin America: Pension Funds à la Chile?

Harvey Arbeláaez, Claudio D. Milman

This paper surveys the social security system in several Latin American countries. Specifically, the cases of Bolivia and Brazil are documented in order to determine if…



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  • Professor Don Johnson