Political Embeddedness of Public Pension Governance
An Event History Analysis of Discount Rate Changes
Bibliographic Data
| ID | 6359773 |
|---|---|
| Authors | Qiushi Wang (0000-0001-5196-5011, Sun Yat‐Sen University China), Jun Peng (0000-0001-7536-3613, University of Arizona) |
| Year | 2018 |
| Volume | 78 |
| Issue | 5 |
| Pages | 785-794 |
| Publication date | 2018-07-11 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Public Administration Review (JOURNAL) |
| Journal identifiers | ISSN: 0033-3352 • E-ISSN: 1540-6210 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/puar.12968 |
| OpenAlex | W2833667811 |
| Language | EN |
| Citations received | 5 |
| References cited | 31 |
State governments are frequently said to manipulate the discount rate assumption to make pension funding look better, reduce employers' and employees' pension contributions, or relieve fiscal stress. Building a model from the political embeddedness perspective and applying an event history analysis to the 81 largest state‐administered pension plans in the United States, the authors found that more politically embedded pension boards were actually more likely to reduce their plan's discount rate. Public union coverage and government political ideology, however, had no significant impact on discount rate changes. These findings reveal the effect of political embeddedness on pension planning decisions and provide useful insights into the intricate process of setting pension discount rates in a new era of more muted investment return expectations. This article points to both political and financial pressures facing pension boards and state governments for many years to come
Corporate governance · Discounting · Economics · Embeddedness · Government (linguistics · Ideology · Labour economics · Pension · Political science · Politics · Rate of return · Sociology · State (computer science · Finance · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism · Law
Event History and Survival Analysis
Economic Action and Social Structure
The Sources and Consequences of Embeddedness for the Economic Performance of Organizations
An Empirical Analysis of State and Local Public Pension Plan Funded Ratio Change, 2001-2009
Understanding Decisions in State Pension Systems
The Drivers of Public Sector Pension Reform Across the U.S. States
Public Pension Funds and Assumed Rates of Return
The political economy of unfunded public pension liabilities
Competitors and Cooperators
Institutional Collective Action and Economic Development Joint Ventures
State and Local Fiscal Sustainability
Variability in State Policy Priorities
Political Responsiveness and Equity in Public Education Finance
Public Sector Unions and the Costs of Government
Public Pensions and Collective Bargaining Rights
Embedded Government Control and Nonprofit Revenue Growth
Trouble Keeping Promises? An Analysis of Underfunding in State Retiree Benefits
Politics, Fiscal Necessity, or Both? Factors Driving the Enactment of Defined Contribution Accounts for Public Employees
Polarization and Policy
Board on the job
Does Pension Plan Structure Affect Turnover Patterns
Governing the Hollow State
The Smart-Seller Challenge
Regulatory Performance and Presidential Administration
Measuring Citizen and Government Ideology in the American States, 1960-93
Control and Feedback in Economic Regulation
Lawyers, Political Embeddedness, and Institutional Continuity in China's Transition from Socialism
| Unique citing works | 5 |
|---|---|
| Citations per year | 0,63 |
| Citation span | 2018 - 2026 (9) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 5 |