USD $84.00
The Investment Game in Private Equity
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The Investment Game in Private Equity, Mika Lehtimäki discusses the legal and contractual relationship between investors and managers of private equity funds as well as the economic incentives governing their relationship. Based on this analysis he sets out a game-theoretical framework for evaluating the role of regulation and contract in asset management.
He argues that the contractual ‘investment game’ between the parties, noting their outcome maximisation objective, results in much of the current fund regulation being non-optimal from the investor perspective. This means that the parties are able to control, subject to qualifications relating to the bargaining process, their relationship and the protect their interests contractually instead of resorting to extensive regulation.
He argues that the contractual ‘investment game’ between the parties, noting their outcome maximisation objective, results in much of the current fund regulation being non-optimal from the investor perspective. This means that the parties are able to control, subject to qualifications relating to the bargaining process, their relationship and the protect their interests contractually instead of resorting to extensive regulation.
Mika J. Lehtimäki, DPhil (Oxford) 2021, is a financial law and game theory researcher and a law firm partner. He has published articles especially on financial law, corporate restructuring and legal theory.
Asset management professionals and attorneys, researchers active in financial law and corporate governance as well professionals and researchers of financial data analytics.