INVESTMENT PERFORMANCE AND DISCLOSURE QUALITY OF AUSTRALIAN SUPERANNUATION FUNDS
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Abstract
Sebagaimana cadangan pensiun publik hanya setara dengan sekitar lima persen dari Produk Domestik Bruto (PDB), sementara aset dana pensiun sekitar total PDB, dana pensiun memainkan peran penting dalam memastikan keberlanjutan sistem pendapatan pensiun. Sebagaimana aset dana pensiun telah berkembang cepat selama 20 tahun terakhir, tingkat pengembalian investasi yang stabil dan pengungkapan kegiatan wali menjadi sangat penting. Dalam konteks ini, penelitian ini menguji apakah ada hubungan antara tingkat pengembalian investasi (ROR) dan pengungkapan sukarela yang dilakukan oleh dana pensiun Australia. Penelitian ini menemukan sejumlah temuan. Pertama, dana keseluruhan sampel menerima nilai rendah untuk praktik pengungkapan di bidang kegiatan pemerintah dan operasi, seperti struktur dewan, informasi direksi, dana cadangan, biaya operasional, biaya investasi, dan kegiatan investasi yang diwakili oleh BSI, DDI, FRDI, OFDI, IFDI, dan IDI masing-masing. Kedua, BSI dan DDI tidak memiliki hubungan dengan ROR. Ketiga, FRDI dan OFDI memiliki hubungan negatif dengan ROR, sementara IFDI dan IDI memiliki hubungan positif dengan ROR. Akhirnya, penelitian ini memberikan kontribusi pada literatur, regulasi, dan praktek dalam pelaporan dan pengungkapan dana pensiun.
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