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ICPM Research Award
Call For Papers

The International Centre for Pension Management (ICPM) is a global research-based network of pension organizations that stimulates leading-edge thinking and practice in pension management. Each year, ICPM awards a number of prizes for research with potential to make a material contribution to the topics of interest of the ICPM Research Partners (http://www.icpmnetwork.com/about-icpm/research-partners). To be considered, research should be completed or close to completion but not published. Prizes will seek to reward innovation, practical applicability and research excellence.

BENEFITS: Several prizes of CAD$10,000 will be awarded each year to high-quality submissions meeting the criteria of the ICPM. The prize winners will be invited to present their research at an ICPM Discussion Forum (http://www.icpmnetwork.com/icpm-events/discussion-forums), which typically occur in June and October of each year (locations vary globally). ICPM may also invite the authors to participate in a webinar within the ICPM Research Partner network on the topic. Completed papers will receive timely distribution amongst the ICPM Research Partners, as part of ICPM's research program. This distribution does not preclude subsequent publication of the paper in a journal of the researcher's choice.

AWARD PAYMENTS: Payments are made directly to the submitting author and the distribution of the prize monies amongst the researcher(s) is at the discretion of the submitting author, unless otherwise requested in writing as part of the submission process.

RESEARCH TOPICS: The ICPM Research Committee encourages submissions on topics with practical relevance for pension organizations. Papers and case studies with implications for fund management, engagement of plan participants, pension design, governance, risk, and investment-related topics are strongly encouraged. The following two pages provide detailed description of the topics and list selected prior award recipients.

PAPER SUBMISSION PROCEDURE: Send an email to icpm@icpmnetwork.com with the subject line: "ICPM Research Award: Last Name of the Submitting Author".
1. Paper,
2. Completed application form,
3. Short bios on the researcher(s), and
4. Contact information for the submitting author.

Please visit our application form online for full information: http://www.icpmnetwork.com/wp-content/uploads/2017/11/ICPM-Call-for-Research-2017.pdf

APPLICATION DEADLINE AND TIMELINE: The deadline for submissions is January 15, 2018. The ICPM Research Committee, composed of both practitioners and academics, will evaluate all submissions, recognizing novel insights, practical applicability and research excellence. Decisions will be shared directly with the submitting author no later than February 28, 2018.

SUGGESTED RESEARCH TOPICS: ICPM will consider submissions on any pension- and investment-related research topic that supports effective management in pension and investment organizations. Topics of particular interest include:

Pension Fund Investment: Investment challenges for pension fund investors with long-term liabilities remain central to the interests of the ICPM Research Partners. The range of relevant topics is broad, but the following issues are of particular interest:
- the importance of illiquidity premiums,
- the question how regulators and supervisors should deal with pension funds as opposed to investors with a shorter-term orientation, such as mutual funds, and
- the potential added value and the effectiveness of collaboration of large investment organizations in various domains (such as engagement with companies, asset managers and investing in alternative assets).

Engagement of Plan Participants: Raising pension awareness among pension plan participants is a relevant research topic in a DC environment. This topic becomes increasingly important in DB schemes in which participants have fewer degrees of freedom. Effective ways to raise awareness and to communicate with pension plan participants and other stakeholders are central research questions on the agenda of most pension organizations (both DB and DC).

Pension Design: Most pension organizations are reforming their pension design to cope with current challenges, such as financial market volatility, aging populations, changing labor markets, and so on. Optimizing pension design is a topic of central interest for many pension organizations, including the ICPM Research Partners. Studies showing how pension system design may yield macro-economic benefits are also welcome.

Governance: Governance of pension organizations, in their broadest definition, is another area of interest and importance to the ICPM Research Partners. Papers that offer practical suggestions on how to influence and change existing organizations (both investments and pensions), are welcome.

Risk: In the context of pension provision, risk encompasses multiple topics. We are interested in projects that would help practitioners define appropriate metrics for risk and uncertainty, especially as they may relate to funding status or regarding investments in alternative assets. In addition, topics related to longevity risk, climate change and practical application of macro risk factors on the total portfolio level and balance sheet are welcome.

SELECTED ICPM FUNDED RESEARCH:
"A Protocol for Factor Identification", by Kuntara Pukthuanthong, Richard Roll

"Asset Allocation and Bad Habits", by Andrew Ang, Amit Goyal, Antti Ilmanen

"Can Institutional Investors Improve Corporate Governance Through Collective Action?", by Craig Doidge, Alexander Dyck, Hamed Mahmundi, Aazam Virani

"Connections and Conflicts of Interest: Investment Consultants Recommendations", by Shikha Jaiswal

"Does Corporate Social Responsibility Create Shareholder Value? The Importance of Long-Term Investors", by Ambrus Kecske´s, Sattar Mansi and Phuong-Anh Nguyen

"Fee Disclosure to Pension Participants: Establishing Minimum Requirements", by John A. Turner, Hazel A. Witte

"How Accurately does 70% Final Earnings Replacement Measure Retirement Income (In)Adequacy?", by Lars Osberg, Kevin D. Moore, Bonnie-Jeanne MacDonald

"International Diversification and Labor Income Risk", by Carolina Fugazza, Maela Giofre, Giovanna Nicodano

"Optimal Decentralized ALM", by Jules van Binsbergen, Michael Brandt, Ralph Koijen "Pension Fund Performance and Risk-Taking Under Decentalized Investment Management", by David Blake, Allan Timmerman, Ian Tonks, Russell Wermers

"Pension Fund Asset Allocation And Liability Discount Rates", by Rob Bauer, Aleksandar Andonov, Martijn Cremers

"Pension Reform, Ownership Structure and Corporate Governance: Evidence from Sweden", by Mariassunta Giannetti, Luc Laeven

"The Freezing of Corporate Pension Plans", by Joshua Rauh, Irina Stefanescu "When Do Derivatives Add Value in Asset Allocation Problems for Pension Funds?", by Jiajia Cui, Bart Oldenkamp, Michel Vellekoop

"Why Do Investors Favor Active Management - To the Extent They Do?", by Ron Bird, Jack Gray, Massimo Scotti

The ICPM website lists other funded research and ICPM Discussion Forum papers on topics of interest to the Research Partners.

APPLICATIONS/FURTHER INFORMATION: Please visit our application form online for full information: http://www.icpmnetwork.com/wp-content/uploads/2017/11/ICPM-Call-for-Research-2017.pdf

Posted: 29 Nov 2017