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2024/2025  KAN-CEAPO2001U  Corporate Governance and Entrepreneurship

English Title
Corporate Governance and Entrepreneurship

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Semester
Start time of the course Spring
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for OECON and ECFI
Course coordinator
  • Aleksandra Gregoric - Department of Accounting (AA)
Main academic disciplines
  • Corporate governance
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 18-11-2024

Relevant links
Learning objectives
  • 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
Prerequisites for registering for the exam (activities during the teaching period)
Number of compulsory activities which must be approved (see section 13 of the Programme Regulations): 1
Compulsory home assignments
The students have to successfully complete one out of two group case assignments in order to be registered for the exam.
Students will not have extra opportunities to get the required number of compulsory activities approved prior to the ordinary exam. If a student has not received approval of the required number of compulsory activities, the student cannot participate in the ordinary exam.
If a student prior to the retake is still missing approval for the required number of compulsory activities and meets the pre-conditions set out in the program regulations, an extra assignment is possible.
The extra assignment is a 10 page home assignment that will cover the required number of compulsory activities. If approved, the student will be able to attend retake.
Examination
Corporate Governance and Entrepreneurship:
Exam ECTS 7,5
Examination form Written sit-in exam on CBS' computers
Individual or group exam Individual exam
Assignment type Case based assignment
Duration 4 hours
Grading scale 7-point grading scale
Examiner(s) One internal examiner
Exam period Summer
Aids Closed book: no aids
However, at all written sit-in exams the student has access to the basic IT application package (Microsoft Office365 (minus Excel), document camera and paper, 7-zip file manager, Adobe Reader DC, PDF24, Texlive, VLC player, Windows Media Player – ATTENTION no sound allowed), and the student is allowed to bring simple writing and drawing utensils (non-digital). PLEASE NOTE: Students are not allowed to communicate with others during the exam.
Make-up exam/re-exam
Same examination form as the ordinary exam
The number of registered candidates for the make-up examination/re-take examination may warrant that it most appropriately be held as an oral examination. The programme office will inform the students if the make-up examination/re-take examination instead is held as an oral examination including a second examiner or external examiner.
Course content, structure and pedagogical approach

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.
Description of the teaching methods
The format of the course is based on three elements:
1. Case analysis
2. Lectures and discussion on the newest relevant research in corporate governance.
Feedback during the teaching period
Feedback will be provided either as part of group works or discussions in the class.
Student workload
Classes 33 hours
Exam 4 hours
Preparation 169 hours
Expected literature

Collection of cases and articles on corporate governance.
Last updated on 18-11-2024