volume 3, issue 4, P835-966 1997
DOI: 10.1017/s135732170000516x
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C.J. Exley, S.J.B. Mehta, A.D. Smith

Abstract: ABSTRACTIncreasingly, modern business and investment management techniques are founded on approaches to measurement of profit and risk developed by financial economists. This paper begins by analysing corporate pension provision from the perspective of such financial theory. The results of this analysis are then reconciled with the sometimes contradictory messages from traditional actuarial valuation approaches and the alternative market-based valuation paradigm is introduced. The paper then proposes a success…

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