Publications
Publications
- July 1991 (Revised August 2000)
- HBS Case Collection
California PERS (A)
By: Jay O. Light, Jay W. Lorsch and James O. Sailer
Abstract
Examines California Public Employees Retirement System (CalPERS), the world's fourth largest pension fund. Dale Hanson, CEO of CalPERS, has a problem; how does he use CalPERS' influence as the holder of a small percentage of 1,300 American companies to put pressure on corporate America to achieve better returns for shareholders? The case discusses the constraints which confront CalPERS as a quasi-state agency and describes their efforts to improve corporate governance to date.
Keywords
Employees; Retirement; System; Asset Pricing; Performance Improvement; Corporate Governance; Investment Funds; Investment Return; California
Citation
Light, Jay O., Jay W. Lorsch, and James O. Sailer. "California PERS (A)." Harvard Business School Case 291-045, July 1991. (Revised August 2000.)