CORPORATE GOVERNANCE

ECONOMICS CORPORATE GOVERNANCE

0222200039
DIPARTIMENTO DI SCIENZE ECONOMICHE E STATISTICHE
EQF7
ECONOMICS
2019/2020

OBBLIGATORIO
YEAR OF COURSE 2
YEAR OF DIDACTIC SYSTEM 2018
SECONDO SEMESTRE
CFUHOURSACTIVITY
1060LESSONS
Objectives
CORPORATE GOVERNANCE IS ONE OF MICROECONOMICS BRANCH THAT STUDIES THE SET OF RULES, AT ALL LEVELS (LAWS, REGULATIONS ETC.), THAT GOVERN THE MANAGEMENT AND DIRECTION OF A COMPANY OR ENTITY, PUBLIC OR PRIVATE. THE COURSE WILL COVER ADVANCED TOPICS RELATED TO THE CORPORATE GOVERNANCE MECHANISMS, FOCUSING IN PARTICULAR ON EMPIRICAL RESEARCH METHODS. THEREFORE, IN THE END OF THE COURSE, THE STUDENTS WILL HAVE THE TOOLS AND ELEMENTS FOR UNDERSTANDING THE FUNCTIONING OF AN ENTERPRISE IN DIFFERENT ENVIRONMENTAL CONTEXTS.

KNOWLEDGE AND UNDERSTANDING SKILLS
THROUGH ACTIVE PARTICIPATION IN THE CLASSES AND THE STUDY OF TEACHING MATERIAL, THE STUDENT WILL BE INTRODUCED TO THE ANALYSIS OF THE ECONOMIC PHENOMENON CONCERNING THE COMPANY MANAGEMENT IN DIFFERENT ENVIRONMENTAL CONTEXTS IN WHICH COMPANY DECIDES TO OPERATE. MORE SPECIFICALLY, THE STUDENTS WILL ACQUIRE THE TOOLS AND ELEMENTS FOR UNDERSTANDING THE FUNCTIONING OF AN ENTERPRISE IN DYNAMIC ENVIRONMENTAL CONTEXTS.

APPLYING KNOWLEDGE AND UNDERSTANDING SKILLS
APPLYING THE ACQUIRED SKILLS, THE STUDENT WILL BE ABLE TO UNDERSTAND HOW THE PARTS OF THE BUSINESS SYSTEM (BOARD OF DIRECTORS, SHAREHOLDERS, STAKEHOLDERS, ETC.) WILL INTERACT WITH EACH OTHER IN ORDER TO ALLOW THE COMPANY TO ACHIEVE ITS GOALS.
Prerequisites
NOT PROVIDED
Contents
PART I (30H)
-INTRODUCTION TO CORPORATE GOVERNANCE.
-CORPORATE GOVERNANCE MODELS AND THEIR APPLICABILITY.
-PRODUCTION THEORY.
-MARKET FORMS: MONOPOLY, OLIGOPOLY AND COMPETITION.
-FIRM RATING: MERGER, ACQUISITION AND ASSIGNMENT.
-DEVELOPMENT STRATEGIES AND ELEMENTS TO BUSINESS SUCCESS.
-COMPARING APPROACHES: SCP (STRUCTURE CONDUCT PERFORMANCE) AND NEIO (NEW EMPIRICAL INDUSTRIAL ORGANIZATION).
-FIRM PERFORMANCE ANALYSIS.
-MAIN FINANCIAL STATEMENT INDICATORS.
-NON-PARAMETRIC TECHNIQUES FOR MEASURING THE FIRM’S EFFICIENCY.
PART II (30H)
-INTRODUCTION TO STATISTICAL REGRESSION.
-PARAMETRIC TECHNIQUES FOR MEASURING THE FIRM’S EFFICIENCY.
-SOME APPLICATIONS TO CORPORATE GOVERNANCE.
-THE ROLE OF BOARDS OF DIRECTORS.
-SHAREHOLDER ACTIVISM.
-AGENCY CONFLICT.
-CAPM AND CORPORATE GOVERNANCE MECHANISMS.
-DISCUSSION OF CASE STUDIES.
Teaching Methods
THREE WEEKLY LESSONS OF TWO HOURS EACH ONE ARE PLANNED. TIMETABLES ARE AVAILABLE ON THE DISES WEBSITE. AT THE END OF FIRST PART OF THE PROGRAM, FOR THE COURSE STUDENTS THERE WILL BE A WRITTEN TEST, IN WHICH THE STUDENT HAVE TO ANSWER TO FIVE OPEN QUESTIONS. THE WRITTEN TEST WILL BE USED BY THE TEACHER AS A TOOL IN ORDER TO VERIFY THE STRUDENT’S PREPARATION DEGREE. AT THE END OF THE COURSE, THE TEACHER WILL DISTRIBUTE A CASE STUDY WHERE THE STUDENT (DIVIDED INTO GROUPS) WILL HAVE TO STUDY AND SHOW THE MAIN RESULTS.
Verification of learning
FOR COURSE STUDENTS
THE FINAL TEST WLL CONSIST OF AN ORAL TEST WITH THE AIM TO VERIFY THE STUDENT’S PREPARATION DEGREE.
FOR NON-COURSE STUDENTS
THE TEST WIL CONSIST OF A WRITTEN TEST IN WHICH THE STUDENT WILL HAVE TO ANSWER TO FIVE OPEN QUESTIONS ABOUT THE COURSE CONTENTS AND AN ORAL TEST TO VERIFY THE STUDENT’S PREPARATION DEGREE.
Texts
-ALESSANDRO ZATTONI, “CORPORATE GOVERNANCE”, MILANO, EGEA, 2015.
-LARCKER DAVID E TAYAN BRIAN, “CORPORATE GOVERNANCE MATTERS”, FT PRESS, UPPER SADDLE RIVER, NEW JERSEY 07458, 2011.
More Information
-LECTURE NOTES AND TEACHING MATERIAL WILL BE EVENTUALLY PROVIDED BY THE TEACHER.
-FURTHER DETAILS WILL BE EVENTUALLY PROVIDED DURING THE LESSONS.
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