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2012/2013  KAN-FSM_FS55  Corporate Governance and Finance

English Title
Corporate Governance and Finance

Course information

Language English
Exam ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Semester
Course period Spring
Time Table Please see course schedule at e-Campus
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Steen Thomsen - Department of International Economics and Management
Main Category of the Course
  • Economics, macro economics and managerial economics
Last updated on 09-07-2012
Learning objectives
This course extends the basic course in corporate finance to include the control and direction of companies (corporate governance). Corporate governance deals with financial incentive and information problems and their solution by ownership structure, boards, compensation, law, capital structure and other mechanisms.
Corporate Governance and Finance:
Type of test Home Assignment
Marking scale 7-step scale
Second examiner No second examiner
Exam period April
Aids Please, see the detailed regulations below
Duration 24 Hours
Individual written 24-hour take home case analysis covering topics taught in the course (max. 5 standard pages). The regular exam will take place in April. Make-up/ re-exam takes place in June.
Course content

The course extends agency theory as an analytical framework for analyzing corporate governance issues. For example shareholder value maximization can be implemented through contestable ownership and removal of takeover barriers, independent boards, stock option programs and legal protection of minority investors. Corporate governance in turn has implications for financial objectives, for example risk preferences at attention to stakeholders. The course will cover issues like corporate objectives, the costs and benefits of stock option programs, minority investor protection, board control, leverage as a governance mechanism, private equity funds and the ownership role of institutional investors.

Teaching methods
Lectures and case discussions
Expected literature

Thomsen, Steen and Conyon, Martin (2011). Corporate Governance: Mechanisms and Systems. McGraw Hill. London.

Last updated on 09-07-2012