Institutional Investors in Global Markets

Gordon L Clark DSc (Oxon) FBA is the Director of the Smith School of Enterprise and the Environment with cross-appointments in the Said Business School and the School of Geography and the Environment at Oxford University. He holds a Professorial Fellowship at St Edmund Hall, Oxford. He is as well, Sir Louis Matheson Distinguished Visiting Professor at Monash University's Faculty of Business and Economics (Melbourne) and a Visiting Professor at Stanford University. Previous academic appointments have been at Harvard's Kennedy School of Government, Harvard Law School (Senior Research Associate), the University of Chicago, Carnegie Mellon's Heinz School and Monash University. Other honours include being Andrew Mellon Fellow at the US National Academy of Sciences and Visiting Scholar Deutscher Akademischer Austausch Dienst at the University of Marburg. Ashby Monk is the Executive and Research Director of the Stanford Global Projects Center. He is also an Honorary Research Associate at the University of Oxford and a Senior Advisor to the Chief Investment Officer of the University of California. His current research focus is on the design and governance of institutional investors, with particular specialization on pension and sovereign wealth funds. He published several articles and op-eds on institutional co-investing, pension funds and ethical investment. His research and writing has been featured in The Economist, New York Times, Wall Street Journal, Financial Times, Institutional Investor, Reuters, Forbes, and on National Public Radio among a variety of other media.

1: Introduction 2: Institutions and Organizations 3: The Architecture of Information 4: Production of Investment Returns 5: Scope of Financial Institutions 6: Investment Management Contracts 7: Public Sector Contracting for Investment Services 8: Ambiguity, Contract, and Innovation 9: Outsourcing and the Principal-Agent Problem 10: Cooperation and Collaboration 11: Reframing Finance