Corporate governance in private equity : do boards really matter? : an empirical study of Norwegian private equity
Master thesis
Permanent lenke
http://hdl.handle.net/11250/2383051Utgivelsesdato
2015Metadata
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Sammendrag
We examine how private equity funds a↵ect corporate governance in Norwegian portfolio
companies. We find that general partners do not prioritize the board as long as everything
is going according to plan. We also find that when a company is taken private CEO
turnover during the first year after the buyout is a matter of control change. Key factors
of keeping the sitting CEO is thus highly based on information not directly tied to performance.
Moving past this period into the monitoring period we find that performance
becomes important. However, general partners do not seem to influence decisions about
the CEO directly from the board. Furthermore, our findings suggest that the board is
being neglected and interaction between general partners and management is conducted
in alternative ways.