Corporate Governance and Responsible Investment in Private Equity

Inbunden, Engelska, 2021

Av Simon Witney, Simon (London School of Economics and Political Science) Witney, Simon R. Witney, Simon R Witney

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Private equity-backed companies are ubiquitous and economically significant. Consequently, the corporate governance of these companies matters to all of us, and - not surprisingly - is coming under increasing scrutiny. Simon Witney, a practicing private equity lawyer, positions private equity portfolio companies within existing academic theory and examines the laws that apply to them in the UK. He analyses the actual governance frameworks that are put in place and identifies problems created by the legal rules - as well as the market's solutions to them. This book not only explains why these governance mechanisms are established, but also what they are expected to achieve. Witney suggests that private equity owners have both the incentives and the capability to focus on responsible investment practices. Good governance, he argues, is a critical success factor for the private equity industry.

Produktinformation

Utgivningsdatum2021-01-07
Mått160 x 240 x 26 mm
Vikt600 g
FormatInbunden
SpråkEngelska
SerieInternational Corporate Law and Financial Market Regulation
Antal sidor242
FörlagCambridge University Press
ISBN9781108485883

Tillhör följande kategorier

Introduction; Part I. How Should Private Equity Governance Systems Look?: 1. Mapping an analytical framework; 2. Private ordering in private equity and its implications; Part II. What Actually Happens?: 3. Agency cost mitigation; 4. Improving decision-making and protecting wider interests; Part III. Corporate Governance Regulation in the UK and Private Equity's Response: 5. The relevance of business judgement regulation; 6. Dealing with the duties to avoid and disclose conflicts of interest; 7. Rules affecting the exercise of power by shareholders and their nominated directors; 8. Recent corporate governance reforms, best practice codes and their impact; Part IV. How Governance Can Affect Corporate Performance: 9. How do academics explain private equity outperformance? 10. Improving governance to improve performance; Conclusion. Corporate governance and responsible investment; Bibliography; Index.

'At long last, we have an academic work that analyses private equity within a specifically legal frame of reference. This book provides a highly illuminating exposition of the contractual and governance dynamics of private equity ownership structures and incentives, set against the backdrop of established company law doctrines and corporate governance theories. Combining theoretical sophistication with a hard-nosed commercial pragmatism borne from extensive professional experience in the field, Witney's work is a monumental scholarly achievement. It will also be an indispensable guide for academics, legal practitioners and private equity investors alike as they seek to navigate the complex and shifting parameters of an ESG-focused, post-Covid investment and business landscape.' Marc Moore, Professor of Corporate/Financial Law, University College London and author of Corporate Governance in the Shadow of the State