I have a question about the selectivity of m-CPBA in this reaction. In my experience, I have used m-CPBA for epoxidation of alkenes. It surprised me that in this reaction, the ketone reacts to give an ester and the alkene remains unchanged? Is it due to the presence of the overhanging ether group? Does this provide a sort of steric crowding so that the peroxyacid can't get in? Cheers.
The transformation taking place in your question is a name reaction known as a Baeyer-Villiger.
The Baeyer-Villager transforms ketones into esters/lactones (cyclic esters) via an alkyl migration in which the group most able to stabilise a positive charge is observed to migrate.
A general mechanism is presented below (taken from the wonderful name reactions book cited). The key steps are (1) attack of the peroxide into the carbonyl followed by (2) the alkyl migration to form the ester grouping.