State-owned investors (SOIs), including sovereign wealth funds and public pension funds, have $27 trillion in assets under management in 2020, making these funds the third largest group of asset owners globally. SOIs have become the largest and are among the most important private equity investors, and they are key investors in other alternative asset investments such as real estate, infrastructure, and hedge funds. SOIs are also leaders in promoting environmental, social, and governance policies and corporate social responsibility policies in investee companies. We document the rise of SOIs, assess their current investment policies, and describe how their state ownership both constrains and enhances their investment opportunity sets. We survey the most impactful recent academic research on sovereign wealth funds, public pension funds, and their closest financial analogs, private pension funds. We also introduce a new Governance-Sustainability-Resilience Scoreboard for SOIs and survey research examining their role in promoting good corporate governance.
LABURPENA: Unibertsitateetako zerbitzuen eta kudeaketaren kalitatea kudeatzeko eredu bat ezarri da duela nahiko gutxi, eta kalitate horrek, oraingoan bai, unibertsitateek eman beharreko goi-mailako hezkuntzako zerbitzu publiko osoa barne hartzen du. Kultura burokratikoan lan egitera ohituta zeudenez, normala den eran, kosta egiten da aldaketa onartzea, eta, beraz, langile publikoek inplikazio gutxi eta motibazio falta garbia dute. Eredu kultural batetik bestera pasatzeko (hau ere bistakoa da), zerbitzu horiek emango dituzten langile publikoen laguntza behar da. Aldiz, ez da horren bistakoa, aldaketa hori ezartzeko orduan eredu berriarekin konprometituta dauden pertsonen lidergoari emandako garrantzia; pertsona horiek kalitatearen kulturak dakartzan balioak eta sinesmenak zabalduko dituzte. Antolaketa-kultura, lidergoa eta parte-hartzea dira aldaketa onartzeko oztopoak gainditzen lagunduko duten oinarrizko parametroak eta elementu motibatzaileak; horrela, gauzak egiteko eredu berri bat ezarri ahal izango da unibertsitateko kudeaketan. RESUMEN: La implantación de un modelo para la gestión de la calidad en los servicios y gestión de las Universidades, es un hecho relativamente reciente con el que la calidad abarca, ahora sí, a la totalidad del servicio público de la educación superior que corresponde prestar a las Universidades. Acostumbrados a funcionar dentro de una cultura más o menos burocrática, existe como es normal, una resistencia al cambio, que se traduce en una baja adhesión y en una clara desmotivación de los empleados públicos. Pasar de un modelo cultural a otro (como también parece es de manual) debe de hacerse contando con los empleados públicos que van a prestar esos servicios. Lo que no parece tan obvio es que se haya puesto, a la hora de su implementación, el énfasis en el liderazgo de personas comprometidas con el nuevo modelo, que transmitan los valores y creencias que la cultura de la calidad conlleva. Cultura organizacional, liderazgo y participación, son los parámetros básicos, elementos motivadores, que contribuyen a conseguir eliminar las resistencias, y así implantar un nuevo modelo de hacer las cosas dentro de la gestión universitaria. ABSTRACT: The implementation of a model for the management of service quality and management of the Universities, is a relatively recent development in the quality covers, now, to the entire public service of higher education to provide corresponding universities. Accustomed to working in a more or less bureaucratic culture, as usual there is a resistance to change, resulting in a low commitment and a clear motivation of public employees. Moving from one cultural model to another (as it seems is also manual) must be counting on public employees who will provide those services. What seems obvious is that has been made, at the time of its implementation, the emphasis on leadership of people committed to the new model, to transmit the values and beliefs that the culture of quality leads. Organizational culture, leadership and participation, are the basic parameters, motivators, which help get rid of resistance, and thus introduce a new model of doing things within the university management.
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