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Regular version of the site

Corporate Governance

2021/2022
Academic Year
ENG
Instruction in English
4
ECTS credits
Course type:
Elective course
When:
1 year, 3 module

Instructor

Course Syllabus

Abstract

Elective course “Corporate governance” is intended for Master students following the programs “Finance” and “Applied Economics and Mathematical Methods”. In addition, the course draws the students’ attention to modern methods of empirical analysis in the field of corporate governance, finance and economics. The main topics covered include: Defining corporate governance and key theoretical models; Mechanisms to incentivise and discipline badly performing managers; Corporate governance and stakeholders; National models of corporate governance; Corporate governance in Russia.
Learning Objectives

Learning Objectives

  • give the students a firm grasp of corporate governance as an academic field, with emphasis on the agency (or finance) perspective (e.g. Shleifer and Vishny, JF 1997) as opposed to alternative theories (stakeholder, stewardship, resource-dependence theories, etc.)
  • give the students a firm grasp of corporate governance as an academic field, with emphasis on the agency (or finance) perspective (e.g. Shleifer and Vishny, JF 1997) as opposed to alternative theories (stakeholder, stewardship, resource-dependence theories, etc.).
Expected Learning Outcomes

Expected Learning Outcomes

  • Be able to critically evaluate current research in this field
  • Be able to recognize and take into consideration interests of various stakeholders when assessing corporate governance at the firm level
  • Be able to take reasonable and responsible financial decisions aimed at addressing agency problems in firms
  • Be familiar with modern methods of empirical research in the field of corporate governance
  • Know the key theoretical concepts and main empirical results within the finance perspective on corporate governance
  • Understand corporate governance as a rapidly developing field of research at the intersection of economics, finance and management
Course Contents

Course Contents

  • Introduction to corporate governance
  • Mechanisms of corporate governance
  • National models of corporate governance
  • Corporate governance and stakeholders
  • Corporate governance in Russia
Assessment Elements

Assessment Elements

  • non-blocking exam
  • non-blocking participation mark
  • non-blocking seminar
  • non-blocking written test
Interim Assessment

Interim Assessment

  • 2021/2022 3rd module
    0.4 * exam + 0.15 * participation mark + 0.25 * seminar + 0.2 * written test
Bibliography

Bibliography

Recommended Core Bibliography

  • Becht, M., Bolton, P., & Roell, A. (2003). Corporate governance and control. Handbook of the Economics of Finance, 1. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.h.eee.finchp.1.01
  • 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

  • Ichiro Iwasaki. (2007). Enterprise Reform And Corporate Governance In Russia: A Quantitative Survey. Journal of Economic Surveys, (5), 849. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.a.bla.jecsur.v21y2007i5p849.902
  • Michael C. Jensen, & William H. Meckling. (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsbas&AN=edsbas.608A4D5A
  • Olga Lazareva, Andrei Rachinsky, & Sergey Stepanov. (2007). A Survey of Corporate Governance in Russia. Working Papers. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.p.abo.neswpt.w0103