Corporate governance is a subject that apprehends the distribution of power and the interactions between the stakeholders of the corporation defined as a legal entity distinct from that of the owners. Corporate governance discusses themes such as the responsibility of the owners, the managers, the board or directors etc, executive compensation, internal control, disclosure of corporate information etc. This course adopts a comparative perspective between different corporate governance systems and ventures into some international comparisons that shed light on alternative ownership structures (family businesses, widely held corporations, private equity etc). This will take us to the study of corporate legal frameworks and finally to the topic of corporate and social responsibility
This course sets out to analyze the purpose and the limits of corporate governance and provides an overview of generic corporate governance systems in the business world. It presents a comprehensive view of the subject so as to help students understand the nature of the interactions between the stakeholders. It aims also at making understandable how important corporate governance in today's business world is. It addresses important issues such as responsibility, remuneration, disclosure of information etc. This course also aims to showcase the plurality of corporate governance philosophies ranging from the pure profit and shareholder wealth maximization objectives to ethical concerns such as embeddedness of the corporation in the community and corporate social responsability.
| Week | Topics |
|---|---|
| 1 | Definition of Corporate Governance This module offers a comprehensive definition of corporate governance Textbook, chapter 1 |
| 2 | Stakeholders and their Effect on Business This module offers a comprehensive overview of stakeholders and their effect on business Textbook, chapter 2 |
| 3 | Legal Principles of Corporate Governance This module offers to tackle corporate governance trough the lenses of the business legal discipline Textook, chapter 3 |
| 4 | Perspective and Important Issues in Corporate Governance Textbook, chapter 4 |
| 5 | Good Governance: Meaning and Concept Textbook, chapter 5 |
| 6 | Governance Linked with Competition |
| 7 | Governance and ownership structures Textbook, chapter 6 |
| 8 | Executive compensation : mechanisms and principles Textbook, chapter 7 |
| 9 | Corporate Governance Information Disclosure Textbook, chapter 8 |
| 10 | The Role of Agency Theory in Corporate Governance Reading : selected press articles |
| 11 | Corporate Governance in anglo-saxon countries |
| 12 | Corporate governance in continental Europe |
| 13 | Corporate governance in Belgium: background and recent trends |
| 14 | Presentations |
| Method | Qty | % Each |
|---|---|---|
| Midterm Exam(s) | 1 | 40 |
| Final Exam | 1 | 50 |
| Attendance | 10 |
Corporate Governance 4th edition: Principles, Policies, and Practices (2021), by Bob Tricker. du Plessis et al. 2011: Principles of Contemporary Corporate Governance, Second edition. Cambridge University Press.