2012/2013
KAN-FSM_FS55 Corporate Governance and Finance
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English Title
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Corporate Governance and Finance
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Language
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English
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Exam ECTS
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7.5
ECTS
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Type
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Mandatory
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Level
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Full Degree Master
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Duration
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One Semester
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Course period
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Spring
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Time Table
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Please see course schedule at e-Campus
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Study board
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Study Board for MSc in Economics and Business Administration
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Course coordinator
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Steen Thomsen
- Department of International Economics and Management
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Main Category of the Course
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Economics, macro economics and managerial economics
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Last updated on 09-07-2012
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Learning objectives
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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.
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Examination
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Corporate Governance and Finance:
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Type of test
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Home Assignment
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Marking scale
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7-step scale
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Second examiner
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No second examiner
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Exam period
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April
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Aids
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Please, see the detailed regulations below
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Duration
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24 Hours
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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.
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Course content
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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.
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Teaching methods
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Lectures and case discussions
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Expected literature
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Thomsen, Steen and Conyon, Martin (2011). Corporate Governance: Mechanisms and Systems. McGraw Hill. London.
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Last updated on 09-07-2012
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