Faculty
Prof.Dr. Randall Morck, Department of Finance and Management Science, University of Alberta

Course Coordinator
Center for Corporate Governance, CBS

The course covers gaps in our understanding of financial economics, and is partitioned into three blocks of lectures. These are:

1. Finance and Long-run Economic Growth: The proposed role of financial markets and institutions in the long run; finance and creative destruction, finance and political economy, behavioral finance and business cycles, manias and panics, etc.

2. Finance and the Economics of Information. Thinking about costly information; information flow into stock markets, costly arbitrage, herding and information cascades, the information industry, information institutions, etc.

3. Finance and the New Institutional Economics. Firms, corporate executives and investors as information processors, agency problems very broadly interpreted, market failures and government failures in financial history, what pressures shape institutions, how institutions evolve, behavioral finance and institutions, etc.

Each of the three sets of topics will include a review of the stylized facts surrounding key holes in our knowledge of the area, the historical development of thinking about the various holes, empirical and theoretical progress towards filling them, and why the work is not yet complete. After completing the course, students should be better able to identify useful research projects.

Each lecture comprises six questions, and one reading is indicated as the main for each question. Day 1 we deal with questions 1-6, Day 2 we deal with questions 7-12, and so on.

Class participation and presentation.

Below you will find a link for the course syllabus:

This is a list of thirty important and incompletely resolved questions in corporate finance. Other problems may be more important, but these are the ones we will consider. Beneath each question is a main reading, used to highlight the question, plus a list of other works relevant to the question. Other articles or books may be more important, but these are the ones we will consider.

The Thirty Unanswered Questions

For registration send an email to ccg@cbs.dk

Students are accepted on first come, first serve basis untill the course is full.

Application deadline is open untill the course is full.