Магистратура
2023/2024
Корпоративное управление
Статус:
Курс по выбору (Стратегическое управление финансами фирмы)
Направление:
38.04.08. Финансы и кредит
Кто читает:
Школа финансов
Где читается:
Факультет экономических наук
Когда читается:
2-й курс, 3 модуль
Формат изучения:
без онлайн-курса
Охват аудитории:
для своего кампуса
Преподаватели:
Киселева Евгения Владимировна
Прогр. обучения:
Стратегическое управление финансами фирмы
Язык:
английский
Кредиты:
3
Контактные часы:
32
Course Syllabus
Abstract
The course on corporate governance provides a comprehensive overview of key concepts and practices in the field. Students will delve into the fundamentals, beginning with an introduction to governance and the agency problem. More recent theories, such as stakeholder theory, upper echelons theory, stewardship theory, and resource-based view will be considered. A brief overview of the historical development of corporate governance crises, tracing them from the Great Depression to the challenges faced in the 2020s, will be given. Students of the course will learn about the roles of governing bodies, including the Board of Directors (supervisory Board), Chief Executive Officer (CEO), and top management team (executive Board), in corporate performance, sustainability, and transparency. A special attention will be paid to the modern requirements for effective governance, including the role of the supervisory Board in corporate ESG (Environmental, Social, and Governance) transformation. The course concludes with an analysis of corporate governance through the lens of corporate financial performance, ESG transformation and transparency. Each lecture contains a theoretical description and an overview of results of recent empirical papers considering the impact of different corporate governance characteristics on corporate performance, ESG transformation and transparency. Seminar classes will be devoted to the analysis of practical cases together with the students, focusing on relevant corporate governance issues for BRICS countries. By the end of this course, the students will have a solid understanding of corporate governance principles and applied knowledge allowing them to conduct a comprehensive analysis of corporate governance in emerging markets. Additionally, the students will gain a comprehensive view of current trends in academic literature devoted to corporate governance, including relevant research questions and techniques. The level of the course suggests that the student has the basic knowledge of economics (microeconomics, macroeconomics), enterprise (management / corporate law or alike), corporate finance and statistics before joining the course. Absence of this knowledge is not a limiting point, but will increase the number of hours for learning the course.
Learning Objectives
- Forming a comprehensive understanding of corporate governance in defferent contexts and time-frames with particular description of the components of corporate governance structure
- Forming student's ability to critically evaluate the quality of corporate governance in companies and prospects for further improvements
- Forming student’s ability to conduct analytical and academic studies devoted to the effects of corporate governance quality on corporate financial performance, ESG transformation and transparency
Expected Learning Outcomes
- The student is able to identify key elements of corporate governance, describe board characteristics, distinguish between the contexts of private and public companies, recognizing differences in corporate governance across different countries and identifying best practices.
- The student is capable of describing the changes in the definition of corporate governance and its relevance over the past decades.
- The student can evaluate the level of corporate governance in a company using international standards, as well as assess the presence of sustainable corporate governance elements.
- The student is capable of making predictions regarding the development of corporate governance in Russia and formulating hypotheses for further research.
Course Contents
- Theoretical Framework of Corporate Governance
- Different Contexts of Corporate Covernance
- Corporate Governance Standards and Practices
- Corporate Governance in Gifferent Gountries
- Corporate Governance in China and Russia
- Corporate Governance in the Context of Modern Challenges
Bibliography
Recommended Core Bibliography
- Andrea CardoniEvgeniia Kiseleva (2023) Sustainable Governance : Concept, Metrics and Contexts 9783031374913,9783031374920
- Claessens, S., & Yurtoglu, B. B. (2013). Corporate governance in emerging markets: A survey. Emerging Markets Review, (C), 1. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.eee.ememar.v15y2013icp1.33
- Shleifer, A., & Vishny, R. W. (1997). A Survey of Corporate Governance. https://doi.org/10.1111/j.1540-6261.1997.tb04820.x
Recommended Additional Bibliography
- Corporate governance, Kim, K. A., 2010
- Corporate governance, Monks, R. A. G., 2008