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Structural analysis based on transparency and accountability towards achieving intergenerational justice in Iranian pension funds
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Hosein Seyfighobadi *   , Vahid Shadyar |
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Abstract: (203 Views) |
Objective: This study aims to analyze the relationship between governance (with the components of financial transparency and institutional accountability) and the realization of intergenerational justice in Iranian pension funds.
Method: The present study is descriptive-analytical and a secondary study. The statistical population includes 21 important pension funds in the country, which cover more than 79 percent of the population coverage of the pension system. Data were collected from financial statements, upstream and governance documents, and official statistics from the Statistics Center and the Central Bank and were tested using multivariate linear regression analysis. The intergenerational justice index was considered as the dependent variable.
Findings: The findings showed that both financial transparency and institutional accountability variables have a positive and significant effect on increasing intergenerational justice. Also, the moderating role of accountability in strengthening the relationship between transparency and justice was confirmed. Among the control variables, the asset-liability ratio and the employed-to-retired ratio showed the strongest positive effect. In contrast, dependence on government budget and institutional concentration (number of managerial appointments) had a significant and negative effect on intergenerational justice. The low average of institutional transparency and accountability indicates a deep gap between these funds and good governance standards.
Conclusion:. The sustainable solution lies not in ad hoc injections, but in three structural reforms: 1) mandatory transparency and publication of independent actuarial reports, 2) governance transformation by strengthening institutional independence and expert oversight, and 3) implementation of a time-bound program to reform financial and demographic parameters. These reforms are essential to regain the trust of the younger generation and achieve intergenerational justice.
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| Keywords: Institutional Accountability, Good Governance in Public Institutions, Financial Transparency, Pension Funds, Intergenerational Justice. |
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Full-Text [PDF 825 kb]
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Type of Study: Research |
Subject:
Special
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