CORPORATE GOVERNANCE

CORPORATE GOVERNANCE

Alessandro Zattoni, Enzo De Angelis

Instructional goals

Students attending this course can learn theories and models allowing them: - to understand different corporate governance models; - to analyze corporate governance practices in different countries and companies; - to design good corporate governance in a specific firm.

Intended learning outcomes

Knowledge and understanding. The course will present theoretical frameworks and best practices to analyze corporate governance. Students should be able to understand the key corporate governance theories and topics presented during the course. Applying knowledge and understanding. Being exposed to different active learning teaching methods (e.g., incidents, cases, project works, videos), students will learn how: (i) to analyze the corporate governance practices of specific companies; (ii) to assess if and how these practices may address agency problems and foster value creation; (iii) to advance proposals aimed at improving the corporate governance of specific companies. Making judgements. The use of active teaching methods will encourage students to collect and analyze data on corporate governance practices, so to assess their consequences on agency problems and value creation. Students will be also asked to present and explain their position on corporate governance practices of specific companies. Communications Skills. Thanks to lectures in class and reading the textbook at home, students will learn key concepts, theoretical frameworks and topics related to corporate governance. Moreover, during highly interactive sessions (e.g., incident, cases, videos, presentation of project work) they will present their position and defend it in front of the class. Learning skills. The several teaching methods employed will allow students to develop a customized (i.e., “one size does not fit all”) approach in the analysis of the corporate governance practices. Thanks to high interactions in class, students will mature a critical assessment of their understanding of key concepts, theoretical frameworks and practices related to corporate governance.

Course Contents

Corporate governance, international corporate governance, board of directors, internal and external controls, institutional investors, proxy advisors, executive compensation, corporate social responsibility, corporate governance and performance.

Reference Books

Zattoni, A. (2020) Corporate governance. Bocconi University Press, Milano. Additional cases and presentations may be downloaded from LUISS Learn.

Teaching Methods

Classes, case discussions, guest speaker, work groups.

Assessment Method

The final grade is the result of: - a written exam (50%); - a group work (30%); - individual contribution to class (20%).

Thesis assignment criteria

To pass the exam

Does the syllabus cover sustainability topics?

Yes

Week 1 Contenuto sessioni on line e on campus

Corporate governance

Week 2 Contenuto sessioni on line e on campus

Shareholder value

Week 3 Contenuto sessioni on line e on campus

Stakeholder value

Week 4 Contenuto sessioni on line e on campus

Agency problems

Week 5 Contenuto sessioni on line e on campus

Corporate governance mechanisms

Week 6 Contenuto sessioni on line e on campus

Strategy, ownership and governance

Week 7 Contenuto sessioni on line e on campus

Comparative corporate governance

Week 8 Contenuto sessioni on line e on campus

Ownership structure

Week 9 Contenuto sessioni on line e on campus

Board of directors

Week 10 Contenuto sessioni on line e on campus

Executive compensation

Week 11 Contenuto sessioni on line e on campus

Students' presentation

Week 12 Contenuto sessioni on line e on campus

Wrap up