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Corporate governance and responsible investment in private equity

Title
Corporate governance and responsible investment in private equity / Simon Witney.
ISBN
9781108485883
110848588X
9781108725316
1108725317
9781108641838
9781108639699
Publication
Cambridge, United Kingdom; New York, NY : Cambridge University Press, 2021.
Copyright Notice Date
©2021.
Physical Description
xii, 228 pages ; 24 cm.
Summary
"Private equity investors are an integral part of the financial ecosystem, and they play an important role in the governance of businesses of all sizes across the real economy. As active owners, the governance processes they put in place are not widely understood, and some outsiders are suspicious of the motivations and reward structures that drive the key decision-makers. This book evaluates the mechanisms that private equity fund managers employ to ensure effective oversight of their portfolio companies and the legal rules that regulate their behaviour. It suggests that most private equity fund managers have powerful incentives to ensure that investee companies behave responsibly, take account of relevant environmental, social and governance (ESG) issues, and work to build sustainable businesses in the long term. The author suggests that legal rules in the UK are not well-adapted for the private equity ownership model, but are not in practice a significant determinant of behaviour. At the same time, there is evidence that private equity-backed companies perform better than their peers, and the author suggests that superior governance may be one explanatory factor"-- Provided by publisher.
Other formats
Online version: Witney, Simon R. Corporate governance and responsible investment in private equity Cambridge, United Kingdom; New York, NY : Cambridge University Press, 2021
Format
Books
Language
English
Added to Catalog
March 08, 2021
Series
International corporate law and financial market regulation.
Bibliography
Includes bibliographical references and index.
Contents
Mapping an analytical framework
Private ordering in private equity and its implications
Agency cost mitigation
Improving decision-making and protecting wider interests
The relevance of business judgement regulation
Dealing with the duties to avoid and disclose conflicts of interest
Rules affecting the exercise of power by shareholders and their nominated directors
Recent corporate governance reforms, best practice codes and their impact
How do academics explain private equity outperformance?
Improving governance to improve performance
Conclusion : Corporate governance and responsible investment.
Citation

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