The Enron Pension Jigsaw: Assembling Accountable Corporate Governance by Fiduciaries
University of British Columbia Law Review
Pension funds; corporate governance; conflict of interest
This article explores the extent to which the potential and actual conflicts of interest that pervade pension fund administration and investment have influenced the corporate governance activities of these funds. The exploration of these issues is situated in the context of the events surrounding the collapse of Enron and the devastating effects of that collapse on the pension rights of Enron's employees. The ability of conflicts of interest to influence outcomes in respect of corporate governance activity, as well as the degree of imprudence exhibited in the permitted investment choices of certain retirement plans, raises concerns about the efficiency of fiduciary duty as a means to control these conflicts.
Ronald B Davis, "The Enron Pension Jigsaw: Assembling Accountable Corporate Governance by Fiduciaries" (2003) 36:3 UBC L Rev 541-574.