Corporate Governance and Entrepreneurship

About the course

Emner

Mikroøkonomi Makroøkonomi International økonomi

Course content

Corporate governance is a system of rules, practices and procedures that balance the interests of the various stakeholders in the corporation, directing their behavior towards the company's objectives. The course is a topic course, covering various issues in corporate governance. We begin with a general introduction to the agency problems in modern firms and the governance solutions to these problems. We start with the role of incentives in the firms and discuss the key challenges of designing executive compensation. We continue with the role of owners and the board of directors, paying special attention to family firms. We then extent the discussion to include the financing and corporate governance of start ups, and the role of corporate governance for innovation and growth. For most of the topics, the standard economics literature will be complemented with behavioral theory of corporate governance.
This is an applied case-based economics course. It complements the course on Corporate Finance and Derivatives.

See course description in course catalogue

What you will learn

be able to discuss the concepts of incomplete contracts, moral hazard, asymmetry of information etc. and critically analyze the agency issues and their implications for firm behavior
be able to identify the opportunities and potential pitfalls in the use of incentive based remuneration as a tool to motivate managers and to critically asses the efficiency of various incentive schemes
be able to identify the relevance of corporate laws in mitigating the agency problems in the corporations
be able to identify the benefits and downsides associated with various types of structures, such as corporations with concentrated ownership, family firms, etc. and to be able to critically assess the specifics of these governance structures in comparison to firms with dispersed ownership and control
be able to critically assess the structure of corporate boards and discuss its implications for board behavior and firm performance
be able to identify and elaborate on the main barriers to efficient functioning of the board of directors and other corporate governance mechanisms (both from standard economics and behavioral corporate governance theory perspective)
understand the agency issues in startup (entrepreneurial) firms and the relevance of corporate governance for firm innovation and growth
be able to critically assess the ownership (governance) structure in startup firms
be able to discuss the role of corporate governance and related challenges in promoting long-term sustainable value creation and sustainability

Facts

Level

Kandidat

Type

Obligatorisk fag

ECTS

7,5

Code

CEAPO2001U

Teaching periods

Forår – semester

Academic year

2024/2025

Status

Available places

Teaching language

English

Teaching Format

På campus

Exams

Skriftlig eksamen på campus
Individual exam, sommer

Assessment type

7-trins skala