000			02610cam a22002418i 4500
020			_a9781108641838
082	0	0	_aK1116 .W58 2022
100	1		_aWitney, Simon R,
245	1	0	_aCorporate governance and responsible investment in private equity / _cSimon R. Witney, London School of Economics and Political Science.
264		1	_aCambridge, United Kingdom; _aNew York, NY : _bCambridge University Press, _c2021.
300			_axi,228 pages
490	0		_aInternational corporate law and financial market regulation
505	0		_aMapping 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.
520			_a"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"--
650		0	_aPrivate equity
650		0	_aPrivate equity funds
650		0	_aStock holders
650		0	_aVenture capital
650		0	_aCapital investments
650		0	_aAgency (Law)
650		0	_aCorporate governance
942			_2lcc _cBK
999			_c13819 _d13819