• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

Corporate Governance

2019/2020
Academic Year
ENG
Instruction in English
3
ECTS credits
Course type:
Elective course
When:
1 year, 3 module

Instructor

Программа дисциплины

Аннотация

Corporate governance is a relatively young and rapidly growing sub-field within the fields of economics and finance. It refers to the various aspects of governance of a modern corporation. Large variety of business organizational forms, complexity of their governance structures, conflicts of interests arising within these structures make it important to study the process of governance of a modern corporation as a separate phenomenon. Aim of the course is to familiarize students with the theory and practice of the modern corporate governance. During the course we will discuss the results of the latest and most important research in the area of the corporate governance. Students will learn about the current practices and recent reforms of corporate governance in Russia and around the world. Also students will see how the modern econometric methods are applied in empirical studies on corporate governance.
Цель освоения дисциплины

Цель освоения дисциплины

  • knowledge of theoretical background behind corporate governance research: agency theory, theory of the firm, corporate finance.
  • knowledge of the modern CG practices in developed economies and emerging markets: different models, structure and participants of CG process, the role and the level of development of corporate law
  • understanding of the problems of corporate governance specific to Russian economy: characteristics of Russian corporations, evolution of corporate ownership structure, the state of Russian corporate law, stock market and corporate investments, Russian model of corporate governance
  • understanding research papers on corporate governance and ability to do research in this area
Содержание учебной дисциплины

Содержание учебной дисциплины

  • Introduction. Theoretical foundation of corporate governance
    Notion and definition of corporate governance. Theoretical foundations: agency theory, theory of the firm, contract theory, theory of corporate finance.
  • The role of shareholders
    Types of shareholders. Their role in corporate governance. Shareholder ownership structures around the world.
  • The role of the board of directors
    Board of directors as a nexus of corporate governance relations. Structure of the board of directors. Board functions. Regulation of the board. The role of independent directors.
  • The role of top-managers (CEO)
    Chief executive officer of the firm. CEO and agency problem. CEO and the board of directors. CEO remuneration. CEO turnover.
  • The role of stakeholders and corporate social responsibility
    Types of stakeholders and their role in corporate governance. The origins of corporate social responsibility (CSR). Types of CSR activities, socially responsible investments. CSR through economic lens.
  • Measuring the quality of CG and CG ratings
    Measuring the quality of corporte governance at the firm level and at the country level. Corporate governance ratings: criteria, cross-country differences.
  • Comparative CG and the Russian model of CG
    Cross-country differences in the models of corporate governance. Specific features of the Russian model of corporate governance. Globalization and convergence of corporate governance systems.
Элементы контроля

Элементы контроля

  • неблокирующий Created with Sketch. Group work in class
  • неблокирующий Created with Sketch. Test 1
  • неблокирующий Created with Sketch. Presentation
  • неблокирующий Created with Sketch. Term paper
  • неблокирующий Created with Sketch. Test 2
Промежуточная аттестация

Промежуточная аттестация

  • Промежуточная аттестация (3 модуль)
    0.12 * Group work in class + 0.18 * Presentation + 0.2 * Term paper + 0.1 * Test 1 + 0.4 * Test 2
Список литературы

Список литературы

Рекомендуемая основная литература

  • Reinhardt, F. L., Stavins, R. N., & Vietor, R. H. K. (2008). Corporate Social Responsibility Through an Economic Lens. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.DBA5307A

Рекомендуемая дополнительная литература

  • Reena Aggarwal, & Miguel Ferreira. (2011). Does governance travel around the world? Evidence from institutional investors. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.91864299