Corporate governance - at MBA
AIMS AND OBJECTIVES
Corporate Governance is “the control and direction of companies” by owners, boards, regulators and stakeholders. This course introduces course participants to the mechanisms of governance: finding the best owner of a company, exercising active ownership, composing a competent board, balancing management and board work, designing a sound and long term oriented incentive program and so on. Participants learn to assess the costs and benefits of alternative governance mechanisms – law, ownership, boards, incentives etc. - and how they can be applied in individual companies. The course not only seeks to provide participants with a thorough theoretical understanding of corporate governance, but also with insights that are highly relevant for a more practical perspective.
The course covers the theory and mechanisms of corporate governance as well as comparative systems of governance. We focus on agency problems in listed firms, how they can be mitigated by ownership, boards and other mechanisms, and how alternative governance models handle their problems. In- particular the course focuses on board dynamics, including board diversity - the way boards make decisions concerning key issues like corporate strategy, CEO succession, risk management or M&A. Students learn do appreciate what a board is, how board members are selected, and how the board interacts with shareholders, company management and other constituencies. The course will deal with the issue of investor protection and international financial development, including how one may quantify investor protection. The market for corporate control will be introduced as well as the impact of takeover defences. The course ends with a discussion of the principle of comply and explain in national code – illustrated with the latest Danish evidence on corporate governance compliance. - The course builds on and extends a basic understanding of management, strategy, accounting, law and finance.
The aim of this course is to gain an in-depth understanding and working knowledge of corporate governance. The course will introduce the students to corporate governance issues and teach them to analyse how different corporate governance mechanisms – like ownership and board structure, legal systems and incentives – contribute to the solution of agency problems and influence corporate economic performance. Using this framework the course will then study the impact of corporate governance on corporate performance depending on company specific factors. The course will enable students to undertake a corporate governance review of an individual company including an assessment of how ownership, board structure, managerial incentives and system characteristics influence company performance.
More specifically students will (within the practical limitations of a single course):
- Learn how to identify and analyse corporate governance (agency) problems.
- Learn to analyse how the corporate governance of a particular company is likely to influence its economic performance.
- Learn to appreciate how the governance, behaviour and performance of individual companies are shaped by the governance system, in which they operate.
Participants will learn through a combination of pedagogic methods. Lectures combined with in-class discussion of company case studies will be based on assigned readings, i.e. a textbook and some research papers. The course will consist of lectures, classroom discussion, a case discussion, and Q&A sessions with experts from the business community. Participants will give case presentations and interact with experts from the business community.
|MODULE TYPE||Elective module|
|COORDINATOR||Professor Caspar Rose, Center for Corporate Governance at Department of Accounting, CBS|
May 14, 15 and 16, 2020
|LOCATION||Copenhagen Business School|
|EXAM||Individual written exam assignment. Max. 10 pages (+ appendices) to be handed in to CBS Digital Exam
Hand-in of exam assignment: June 25, 2020 at 12 noon
|PRICE||10.000 kr. + expenses for materials|