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Establishment
Language of instruction
English
Teaching content
FINANCE
This course occurs in the following program(s)
IESEG Degree - Programme Grande École
- Crédits ECTS: 2.00
Training officer(s)
M.MAZUR
Stakeholder(s)
Mieszko MAZUR
Présentation
Prerequisite
Basics of corporate finance and accounting.
Goal
At the end of the course, the student should be able to:
- explain the rationale for the existence of the different corporate governance systems around the world and their economic implications
- understand the relationship between the quality of corporate governance and shareholder value
- assess the impact of corporate governance arrangements on firm value
- evaluate the efficiency of executive compensation
- understand the role of corporat governance failures in systemic crises
- contribute to the discussion on the role of corporate governance in the worldwide economy
- explain the rationale for the existence of the different corporate governance systems around the world and their economic implications
- understand the relationship between the quality of corporate governance and shareholder value
- assess the impact of corporate governance arrangements on firm value
- evaluate the efficiency of executive compensation
- understand the role of corporat governance failures in systemic crises
- contribute to the discussion on the role of corporate governance in the worldwide economy
Presentation
1. Theoretical Framework (Agency, Information Asymmetry, Moral Hazard)
2. Corporate Goverance Systems (Widely-Held and Closely-Held Firms, Dual-Class Shares)
3. Quality of Corporate Governance (Internal and External Governance, Legal Origin)
4. Board of Directors (CEO Identity, CEO Duality, Independent Directors, Director Identity, Board Committees, Director Elections, Busy Directors, Board Interlocks, Director/Social Networks, Board Size, Board Diversity)
5. Managerial Incentives (Base Salary, Short- and Long-Term Bonuses, Executive Stock Options, Restricted Stocks, Perquisites, Options Backdating, Executive Compensation and M&A, Overpaid Executives, Equity Ownership)
6. Shareholder Activism
7. Institutional Investors and their Role in Firms' Governance
8. Corporate Governance and the Recent Financial Crisis
9. Corporate Governance Reform (Cadbury Report, Sarbanes-Oxley Act, Dodd-Frank Act)
2. Corporate Goverance Systems (Widely-Held and Closely-Held Firms, Dual-Class Shares)
3. Quality of Corporate Governance (Internal and External Governance, Legal Origin)
4. Board of Directors (CEO Identity, CEO Duality, Independent Directors, Director Identity, Board Committees, Director Elections, Busy Directors, Board Interlocks, Director/Social Networks, Board Size, Board Diversity)
5. Managerial Incentives (Base Salary, Short- and Long-Term Bonuses, Executive Stock Options, Restricted Stocks, Perquisites, Options Backdating, Executive Compensation and M&A, Overpaid Executives, Equity Ownership)
6. Shareholder Activism
7. Institutional Investors and their Role in Firms' Governance
8. Corporate Governance and the Recent Financial Crisis
9. Corporate Governance Reform (Cadbury Report, Sarbanes-Oxley Act, Dodd-Frank Act)
Modalités
Organization
| Type | Amount of time | Comment | |
|---|---|---|---|
| Présentiel | |||
| Cours interactif | 16,00 | ||
| Travail personnel | |||
| Group Project | 25,00 | ||
| Autoformation | |||
| Lecture du manuel de référence | 1,00 | ||
| Recherche | 8,00 | ||
| Overall student workload | 50,00 | ||
Evaluation
Assessment is based on two short case studies to be solved in class (20% grade each). These cases require independent research on the Internet and group work. Another 10% of the grade is for attendance and participation. The remaining 50% of the final grade is for the presenation of the main case study, which is a group work as well and requires the intensive out-of-class preparation. Feedback will be provided orally in class or by voice via WhatsApp or other digital channel.
| Control type | Duration | Amount | Weighting |
|---|---|---|---|
| Contrôle continu | |||
| Participation | 0,00 | 0 | 10,00 |
| Autres | |||
| Etude de cas | 0,00 | 3 | 90,00 |
| TOTAL | 100,00 | ||
Ressources
Bibliography
All the readings and course materials will be provided directly to studetns before the beginning of the course. -