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The Environmental, Social, and Governance (ESG) impact on the Private Investment Policies: A Qualitative Multi-Case Study of Malaysia's Private Equity and Venture Capital Industry

Abstract
The study aims to understand how Malaysia's Private Equity and Venture Capital (PEVC) industry navigates the ESG phenomenon's challenges. ESG is considered complex and filled with ambiguity, making it difficult to make an informed decision to integrate into practice. This paper explores the underpinning corporate governance theory that fuses institutional and stakeholder theory to study the impact on private investment policies that lead to a deeper understanding of investment selection and investment portfolio design.
As an explorative inquiry, this paper uses a qualitative multi-case study to understand the industry executives and leaders by engaging the Malaysia Venture Capital Association as the population under study. This study proposes to address the following research objectives. Firstly, to understand how PEVC firms manage the complexity and ambiguity of ESG criteria. Secondly, it comprehends how PEVC firms use ESG criteria as a risk mitigation process for ESG investment portfolio design and rationalizes how PEVC firms select investee ventures with ESG criteria.
Keywords: Environmental, Social and Governance (ESG), Private Investment Policies, Investment Portfolio Design, Investee Selection Criteria, and Malaysia Private Equity & Venture Capital Industry

Daniel KS Chang
DBA Candidatures, (IPE School of Management, Pole Paris Alternance), MBA E-Commerce, Charles Sturt University, Australia, | IAA New York | [email protected]
Ian Mackechnie, Ph.D., Bulacan State University | Master of Commerce, University of Southern Queensland, Australia | BA (Hons), Charles Sturt University, Australia
European International University - Paris