Professor Gordon L. Clark
- Director of the Smith School of Enterprise and the Environment
- Fellow of St Edmund Hall, Oxford
- Sir Louis Matheson Distinguished Visiting Professor, Faculty of Business and Economics, Monash University, Melbourne.
- Tel: +44 (0)1865 285197
- PA: Amanda Diener
- Tel: +44 (0)1865 285067
- Email: email@example.com
Gordon L Clark DSc (Oxon) FBA is the Director of the Smith School of Enterprise and the Environment with cross-appointments in the Saïd Business School and the School of Geography and the Environment at Oxford University and holds a Professorial Fellowship at St Edmund Hall, Oxford. He is also Sir Louis Matheson Distinguished Visiting Professor at Monash University's Faculty of Business and Economics (Melbourne). Previous academic appointments have been at Harvard's Kennedy School of Government, Harvard Law School (Senior Research Associate), the University of Chicago, Carnegie Mellon's Heinz School and Monash University. Other honours include being Andrew Mellon Fellow at the US National Academy of Sciences and Visiting Scholar Deutscher Akademischer Austausch Dienst at the University of Marburg.
He has held a number of senior administrative posts including Associate Dean (Finance, Graduate Studies) and Dean of the Faculty of Arts at Monash University (Melbourne), Chair of the Faculty Board of Anthropology and Geography (Oxford), and most recently Director and Head of the Oxford University Centre for the Environment. Professor Clark has served on the Social Science Committee of the British Academy, is an elected member of the Oxford University's Socially Responsible Investment Committee, is an employer-nominated trustee of the Oxford Staff Pension Scheme, is a consultant to MetallRente GmbH, is a Founding Governor of the UK Pension Policy Institute, and is a consultant to the Swedish Government's Buffer-fund inquiry. He also advised The Kay Review on Equity Markets and Long-Term Decision Making.
An economic geographer, he is interested in the responsibilities and behaviour of investors as regards long-term sustainable investment. This has involved research on institutions' proxy-voting behaviour (Environment and Planning A 2008), the strategies of corporate engagement given concerns about environmental liabilities and the sensitivity of firms to brand image and reputation (Environment and Planning A 2005), the UK regulation of corporate disclosure on issues related to environment and social responsibility (University of Pennsylvania Journal of Business Law 2009), and the governance of investment strategy which has an explicit long-term mandate (Asian Journal of International Law 2011). His current research focuses upon the governance of investment decision-making in the context of market volatility and long-term obligations. In part, this project has developed in collaboration with Oxford colleagues and graduate students as well as the UNPRI, Mercer, the Telos Project, Towers Watson, and the project led by Professor Tessa Hebb at Carleton University (Ottawa) funded by the Social Science and Humanities Research Council of Canada.
Related research is focused on the design and management of investment institutions including reference to insourcing, out-sourcing, and off-shoring activities and the demand and supply of financial services relevant to pension funds, endowments, and sovereign wealth funds. Papers on this topic have been published in the Journal of Pension Economics and Finance (2004, 2006, 2007), the Rotman International Journal of Pension Management (2008, 2010, 2011), the Journal of Asset Management (2008), Risk Management and Insurance Review (2009), and Pensions: An International Journal (2010, 2012). With Adam Dixon and Ashby Monk, their monograph on the governance and investment strategies of sovereign wealth funds is scheduled for publication by Princeton University Press in 2013.
His research on household financial decision-making has focused on long-term saving utilising theories and methods from the behavioural and social sciences in the context of risk and uncertainty. Papers on this topic have been published in the Transactions IBG (2007), Ageing and Society (2008), Environment and Planning A (2009), Pensions: An International Journal (2009), the Journal of Economic Geography (2010) and Urban Studies (2011) supported, in part, by the ESRC, Mercer and Towers Wyatt. With Kendra Strauss and Janelle Knox-Hayes, he is co-author of Saving for Retirement (OUP, 2012). Recent related books include the co-edited Managing Financial Risks: From the Global to the Local (OUP 2009) (with Ashby Monk and Adam Dixon), The Geography of Finance (OUP 2007) (with Dariusz Wójcik), Pension Fund Capitalism (OUP 2000), and European Pensions & Global Finance (OUP 2003).
MSc in Nature, Society and Environmental Policy
Current graduate students include:
- Thomas Ashfold
Realising the potential of work-time reduction in the 'developed' world; overcoming the perverse employer and employee incentives that encourage long work hours
- Dorothee Franzen
Impact of regulation on the asset investment of defined benefit pension funds
- Heather Hachigian
Governance frameworks for responsible investing: the case of sovereign sponsored funds.
- Irem Kok
Transparency and corporate governance: a comparative study of shale gas controversies in the US and UK
- Sarah McGill
The economic governance of global commodity markets
- Alex Money
Corporate water risk: a concept in search of consensus
- Dane Rook
Sustainable investment beliefs: behavioural ecologies of expectation and long-term decision making
- Aisha Saad
Contesting neoliberalism through the corporate social responsibility regime
- Yukie Saito
Corporate engagement for sustainable business in development
- Yin Yang
Assessment and governance of urban infrastructure for meeting the challenges of climate change - case studies of London and Beijing
D.Phil. students successfully completing since 2002:
- Nicholas Howarth (2012)
An integrated theory of economic and political change: including four papers on the shift to a low carbon economy
- Caitlin McElroy (2012)
Corporate social responsibility in the extractive and energy industries: effects on resource use and indigenous development
- Rajiv Sharma (2012)
The role of private institutional investors in developing urban infrastructure assets
- Csaba Burger (2011)
Occupational pensions in Germany - an economic geography
- Taylor Gray (2011)
A corporate geography of Canada: governance and networks
- Claire Woods (2011)
Legal frameworks for sustainable investment
- Eric Knight (2010)
The finance of climate change
- Leng Lee (2010)
Rural-urban migration in China
- Ville-Pekka Sorsa (2010)
Pension fund capitalism in Europe: institutional organisation and governance of investment in Finnish pension insurance companies
- Adam Dixon (2009)
The geography of European financial integration and long-term asset management
- Janelle Knox-Hayes (2009)
Constructing an international market for carbon trading: an institutional perspective.
- Lisa Hagerman (2008)
Public pension fund investment in urban revitalization.
- Ashby Monk (2008)
The burden of corporate pension liabilities in the emerging global economy.
- Kendra Strauss (2008)
Choice, risk and the context of decision making in UK pensions.
- Emiko Caerlewy-Smith (2007)
Investment decision-making: attitudes and actions of UK defined benefit pension fund trustees.
- James Salo (2006)
Corporate environmental performance: governance, intangible assets, and financial markets.
- Morag Torrance (2006)
The financialisation of the urban infrastructure landscape: unravelling financial flows into urban geographies.
- Terry Babcock-Lumish (2004)
Communities of trust: decision making and innovation
- Tessa Hebb (2004)
Pension fund corporate engagement: causes and consequences.
- Dariusz Wójcik (2002)
Corporate governance and capital market integration in Europe: an economic geography perspective.
Books (since 2001)
- Clark, G.L., Strauss, K. and Knox-Hayes, J. (2012) Saving for Retirement. Oxford University Press, Oxford. 224 pp. ISBN: 978-0-19-960085-4.
- Clark, G.L., Dixon, A.D. and A.H.B. Monk (2009) Managing Financial Risks: From Global to Local. Oxford University Press, Oxford. 352 pp. ISBN: 978-0-19-955743-1.
- Clark, G.L. and D. Wójcik (2007) The Geography of Finance: Corporate Governance in the Global Marketplace. Oxford University Press, Oxford. 272 pp. ISBN: 978-0-19-921336-8.
- Clark, G.L., A. Munnell and M. Orszag (eds.) (2006) The Oxford Handbook of Pensions and Retirement Income. Oxford University Press, Oxford. 936 pp. ISBN: 978-0-19-927246-4.
- Clark, G.L. and P. Tracey (2004) Global Competitiveness and Innovation. Palgrave Macmillan, Basingstoke and New York.
- Clark, G.L. (2003) European Pensions and Global Finance. Oxford University Press, Oxford.
- Clark, G.L. and N. Whiteside (eds.) (2003) Pension Security in the 21st Century. Oxford University Press, Oxford.
Papers and Articles (since 2008)
Recent papers with colleagues can be found at the Working Papers in Employment, Work and Finance website.
- Clark, G.L. and Woods, C. (2012) The impossible planetary trust: intergenerational equity, long-term investment and water governance and regulation. Chapter 10 in, Godfrey, J.M. and Chalmers, K. (eds.) Water Accounting: International Approaches to Policy and Decision-making. Edward Elgar. pp. 189-202. ISBN: 9781849807494.
- Clark, G.L. (2012) From corporatism to public utilities: workplace pensions in the 21st Century. Geographical Research, 50(1): 31-46.
- Clark, G.L. and Monk, A.H.B. (2012) Sovereign Wealth Funds: Form and functions in the 21st Century. CAPCO Journal, 33: 17-27.
- Clark, G.L. and Knight, E.R.W. (2011) Temptation and the virtues of long-term commitment: the governance of sovereign wealth fund investment. Asian Journal of International Law, 1: 321-348.
- Clark, G.L. and Monk, A.H.B. (2011) Pension reserve funds: aligning form and function. Rotman International Journal of Pension Management, 4(2): 18-25.
- Clark, G.L. and Monk, A.H.B. (2011) The political economy of US-China trade and investment: the role of the China Investment Corporation. Competition and Change, 15(2): 97-115.
- Clark, G.L. and Urwin, R. (2011) DC pension fund best-practice design and governance. Benefits Quarterly, Fourth Quarter 2011: 36-49.
- Burger, C. and Clark, G.L. (2011) The German model of risk distribution in supplementary occupational pensions. The Journal of Risk, 13(3).
- Clark, G.L. (2011) Myopia and the global financial crisis: Context-specific reasoning, market structure, and institutional governance. Dialogues in Human Geography, 1(1): 4-25.
- Clark, G.L. (2010) Human nature, the environment, and behaviour: explaining the scope and geographical scale of financial decision-making. Geografiska Annaler: B, Human Geography, 92(2): 159-173.
- Clark, G.L. and Monk, A.H.B. (2010) The Norwegian government pension fund: ethics over efficiency. Rotman International Journal of Pension Management, 3(1): 14-19.
- Clark, G.L. and Monk, A.H.B. (2010)The legitimacy and governance of Norway's Sovereign Wealth Fund: The ethics of global investment. Environment and Planning, A, 42(7): 1723-1738.
- Clark, G.L. and Monk, A.H.B. (2010) Government of Singapore Investment Corporation (GIC): insurer of last resort and bulwark of nation-state legitimacy. The Pacific Review, 23(4): 429-451.
- Clark, G.L., Durán-Fernández, R. and Strauss, K. (2010) 'Being in the market': the UK house-price bubble and the intended structure of individual pension investment portfolios. Journal of Economic Geography, 10: 331-359.
- Clark, G.L. and Urwin, R. (2010) Innovative models of pension fund governance in the context of the global financial crisis. Pensions, 15(1): 62-77.
- Clark, G.L., Knox-Hayes, J. and Strauss, K. (2009) Financial sophistication, salience, and the scale of deliberation in UK retirement planning. Environment and Planning A, 41: 2496-2515.
- Lee, R., Clark, G.L., Pollard, J. and Leyshon, A. (2009) The remit of financial geography – before and after the crisis. Journal of Economic Geography, 9: 723-727.
- Clark, G.L. and Knight, E.R.W. (2009) Implications of the UK Companies Act 2006 for Institutional Investors and the Market for Corporate Social Responsibility. University of Pennsylvania Journal of Business Law, 11(2): 259-96.
- Clark, G.L. and Knox-Hayes, J. (2009) The 'new' paternalism, consultation and consent: Expectations of UK participants in defined contribution and self-directed retirement savings schemes. Pensions, 14(1): 58-74.
- Clark, G.L. and Urwin, R. (2008) Making Pensions Boards Work: The Critical Role of Leadership. Rotman International Journal of Pension Management, 1(1): 38-45.
- Clark, G.L. (2008) Governing finance: Global imperatives and the challenge of reconciling community representation with expertise. Economic Geography, 84: 281-302.
- Bauer, R., Braun, R. and Clark, G.L. (2008) The emerging market for European corporate governance: the relationship between governance and capital expenditures, 1997–2005. Journal of Economic Geography, 8(4): 441-469.
- Clark, G.L. and Strauss, K. (2008) Individual pension related risk propensities: the effects of socio-demographic characteristics and a spousal pension entitlement on risk attitudes. Ageing and Society, 28: 847-874.
- Clark, G.L. and Salo, J. (2008) Corporate governance and environmental risk management: a quantitative analysis of 'New Paradigm' firms. Ch. 5 in, Quarter, J., Carmichael, I. and Ryan, S. (eds) Pensions at Work: Socially Responsible Investment of Union-Based Pension Funds. University of Toronto Press.
- Clark, G.L., Salo, J. and Hebb, T. (2008) Social and environmental shareholder activism in the public spotlight: US corporate annual meetings, campaign strategies, and environmental performance, 2001-04. Environment and Planning A, 40: 1370-1390.
- Clark, G.L. and Urwin, R. (2008) Best-practice pension fund governance. Journal of Asset Management, 9(1): 12-21.
- Clark, G.L. and Monk, A.H.B. (2008) Conceptualizing the Defined Benefit Pension Promise: Implications From a Survey of Expert Opinion. Benefits Quarterly, First Quarter: 7-31.