Long-term investing

Working paper

30 May 2016

The literature on investment horizon is reviewed in order to enhance the understanding of potential influences on long-term investing by institutional investors. Investment horizon reflects an inter-connected web of influences related to an investor’s circumstances, the design of the investing environment, and the choices that...

Working paper

30 Jun 2015

The agency problems that pervade delegated investment management are exacerbated when investing for the long term, where the payoff is distant and often highly uncertain. These conditions compound the difficulty of aligning and monitoring the agents (managers) responsible for making investment decisions, particularly across multi-layered...

Working paper

28 Feb 2015

A performance evaluation approach is developed to support long-term investment programs, where asset selection is based on the internal rate of return estimated with reference to long-term cash flows. Returns are attributed into three components reflecting expected return, changes in discount rates, and changes in...

Working paper

31 Oct 2014

We address how investment management organizations might be built to successfully pursue long-term investing. A variety of recommendations and suggestions are put forward that address four building blocks: organizational; incentives; investment approach; and discretion over trading. A key message is the need to manage the...

Working paper

31 Oct 2014

The literature on investment horizon is reviewed in order to enhance the understanding of potential influences on long-term investing by institutional investors. Investment horizon reflects an inter-connected web of influences related to an investor’s circumstances, the design of the investing environment, and the choices that...

Overview

 

Items: 5