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Course Syllabus

Бакалавриат 2021/2022

Корпоративное управление

Статус: Курс обязательный (Международный бизнес и менеджмент)
Направление: 38.03.02. Менеджмент
Кто читает: Департамент финансов
Где читается: Санкт-Петербургская школа экономики и менеджмента
Когда читается: 4-й курс, 1, 2 модуль
Формат изучения: без онлайн-курса
Охват аудитории: для всех кампусов НИУ ВШЭ
Преподаватели: Маилов Эдвард Рафаэлевич, Рогова Елена Моисеевна, Романюк Кирилл Андреевич
Язык: английский
Кредиты: 5
Контактные часы: 50

Course Syllabus

Full Syllabus

Abstract

General purpose of this course is students’ acquaintance with principles of Corporate Governance and understanding its importance for companies’ performance. It is aimed at the creation of competencies in the following fields: - Understanding CG principles; - Defining models of CG in different legal and economic systems; - Understanding the connections between CG, corporate finance, corporate performance; - Analysing the reporting; - Assessment of the CG efficiency; - Acquaintance with CG standards and best practices. Corporate Governance is a complex course, synthesizing knowledge and skills in various fields - from law to accountancy. Non-financial issues of CG are now a hot point in theory and practice and should be highlighted specially.
Learning Objectives

Learning Objectives

  • To make clear the principles of corporate governance (CG)
  • To provide tools for analysis of a company’s corporate governance system
  • To develop the skills in analysis of CG relationship with companies’ performance
  • To acquire the knowledge of basic functions of CG, key financial and non-financial stakeholders, the role of financial and non-financial institutions in a company’s governance, key concepts of CG
  • To acquire the ability to analyze principles of decision-making, to determine the key interests of major stakeholders, to analyse the system of CG
  • To acquire the skills of matching CG decisions and a company’s strategy, alongside taking ethical and reasonable, data-driven CG decisions
Expected Learning Outcomes

Expected Learning Outcomes

  • Students should know best corporate governance practices
  • Students should understand drivers of CG
  • Students should understand features of each model
  • Students should understand principles of board composition
  • Students should understand principles of corporate goals and strategy forming
  • Students should understand principles of corporate investment and financial decision-taking
  • Students should understand recognize stakeholders’ interests in corporate governance
  • Students should understand the relationship between management compensation and companies’ performance
  • Students should understand the relationship between ownership theories and corporate governance practices
Course Contents

Course Contents

  • What is Corporate Governance?
  • Models of Corporate Governance
  • Theories of Ownership and Government Cycles
  • Stakeholders and Stakeholders’ Maximization
  • The Role of the Board. Management compensation
  • CG standards and practices
  • What is Corporate Governance?
Assessment Elements

Assessment Elements

  • non-blocking Midterm Test
    Open book test lasts for 80 minutes
  • non-blocking Class activities
  • non-blocking Home Assignment II Individual project. Analysis of CG system of a public company
    Analysis of CG system of a public company of your choice. Detailed guidelines will be posted in advance.
  • non-blocking Test II
  • non-blocking Home Assignment II. Case Analysis
  • non-blocking Home Assignment I. Group real case analysis
    Corporate frauds analysis in the form of text report and oral presentation. Detailed guidelines will be posted in advance.
  • blocking Exam
Interim Assessment

Interim Assessment

  • 2021/2022 2nd module
    0.4 * Exam + 0.2 * Home Assignment I. Group real case analysis + 0.15 * Class activities + 0.15 * Midterm Test + 0.1 * Home Assignment II Individual project. Analysis of CG system of a public company
Bibliography

Bibliography

Recommended Core Bibliography

  • Monks, R. A. G., & Minow, N. (2011). Corporate Governance (Vol. 5th ed). Chichester, West Sussex, U.K.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=499656

Recommended Additional Bibliography

  • Erkens, D. H., Hung, M., & Matos, P. (2012). Corporate governance in the 2007–2008 financial crisis: Evidence from financial institutions worldwide. Journal of Corporate Finance, (2), 389. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.eee.corfin.v18y2012i2p389.411
  • Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, (4), 305. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.eee.jfinec.v3y1976i4p305.360
  • Shleifer, A., & Vishny, R. W. (1997). A Survey of Corporate Governance. https://doi.org/10.1111/j.1540-6261.1997.tb04820.x