Corporate Governance (postponed from fall 2020)

Updated: about 21 hours ago
Deadline: 13 Aug 2021

1093640

Course
Corporate Governance (postponed from fall 2020)

Faculty
Professor Steen Thomsen, Center for Corporate Governance (main teacher) with contributions from professor Niels Westergaard-Nielsen (CBS), professor Tom Kirchmaier (CBS), and professor Morten Bennedsen, University of Copenhagen

Course coordinator
Steen Thomsen

Prerequisites

Students are expected to have a master’s level understanding of economics, finance and statistics. Familiarity with the topic of corporate governance (i.e. a master’s level textbook) is strongly encouraged but not an absolute requirement.

Students are expected to attend the whole course and must submit a short written paper at the end of the course in which they explain how they could incorporate corporate governance theories and research methods in their research. They are also expected to participate in the discussion of selected articles and at least present one assigned paper.


Aim
The goal is to enable students to contribute to current corporate research which plays an important role in business and management studies, accounting, finance and law.

Course content
The course will give an overview of current corporate governance theories, research methods and empirical findings focusing on international corporate governance, ownership structure and corporate boards.

Teaching style
Lectures, student presentations, classroom discussion.

Lecture plan
Time Topic Teacher
1 Day
Morning
session
9-12

Introduction to corporate governance research. Key concepts and theories (agency, resource-based and behavioural etc). Current policy and business discussions. The empirical research frontier: identification and causality. Brief student presentations.
Readings: Thomsen/Conyon (2019) Chapters 2-3

Steen Thomsen (ST)
Afternoon session
13-15

Surveys of corporate governance research. Presentation and discussion.

Readings: Tingle (2017), Schleifer and Vishny (1997)

ST
Afternoon session
15-17

Student presentations and feedback

Niels Westergaard Nielsen (NWN)

2 Day

Morning
session
9-12

Review of empirical corporate governance research methods. Presentation and discussion.

 Readings: Adams (2017). Mcnulty et al (2013).

ST
Afternoon session
13-15

Review of International Corporate Governance. Legal Systems. Culture. Convergence. Emerging markets.

Readings: Thomsen/Conyon (2019) Chapter 4, Aguilera, R. V., Marano, V., & Haxhi, I. (2019).

ST
Afternoon session
15-17

Student presentations and feedback

ST, NWN

3 Day

Morning
session
9-12

Review of ownership as corporate governance. Institutional investors’ private equity. Family business. Mutuals. Enterprise foundations. Presentation and discussion.

Readings: Boyd and Angelo (2016). Thomsen/Conyon (2019) Chapter 9.

ST
Afternoon session
13-15

Review of family business research.

Readings: Demassis et al (2012)

Morten Bennedsen KU

Afternoon session
15-17

Student presentations and feedback

ST, NWN

4 Day

Morning
session
9-12

Review of board research. Board structure. Board behaviour. Board decisions.

Readings: Adams et al. (2010, 2017b), Thomsen/Conyon (2019) Chapter 10-11 and cursorily chapters 13-16.

ST
Afternoon session
13-15

Review of board diversity research.

Readings: Reddy et al (2019)

NN
Afternoon session
15-17

Student presentations and feedback

ST, NWN

5 Day

Morning
session
9-12

Emerging topics in corporate governance. Sustainability. CSR. Ethics. Compliance. Theory and Measurement Issues.

Readings: Thomsen and Conyon (2019) Chapter 6.

ST
Afternoon
session
13-15

The dark side of corporate governance. Crime, money laundering and corporate scandals.

Readings: TBA

Tom Kirchmaier (TK)
Afternoon
session
15-17

The future research agenda in corporate governance. New data sources and emerging topics. Classroom discussion.

ST, TK, NWN

Learning objectives
  • General understanding of corporate governance, corporate governance theories, research methods and basic research findings.
  • Familiarity with standard research designs in corporate governance and their respective strengths and weaknesses.
  • Ability to apply these insights in independent research practice.

Exam

Other

Start date
09/08/2021

End date
13/08/2021

Level
PhD

ECTS
5

Language
English

Course Literature
Steen Thomsen and Martin Conyon. Corporate Governance and Board Decisions. DJØF Publishing and Now Publishers 2019.
Adams, R. B., Hermalin, B. E., & Weisbach, M. S. (2010). The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey. Journal of Economic Literature, 48(1), 58–107. https://doi.org/10.1257/jel.48.1.58 .

Renée B. Adams. 2017. The ABCs of empirical corporate (governance) research. Corp Govern Int Rev. 2017;25:461–464.

Renée B. Adams. 2017b. Boards, and the Directors Who Sit on

Them. The Handbook of the Economics of Corporate Governance, Volume 1

Aguilera, R. V., Marano, V., & Haxhi, I. (2019). International corporate governance: A review and opportunities for future research. Journal of International Business Studies, 50(4), 457–498. https://doi.org/10.1057/s41267-019-00232-w

Belloc, F. (2012). Corporate Governance and Innovation: A Survey. Journal of Economic Surveys, 26(5), 835–864. https://doi.org/10.1111/j.1467-6419.2011.00681 .

Sanjai Bhagat and Richard H. Jefferis, Jr. The Econometrics of Corporate Governance Studies. http://leeds-faculty.colorado.edu/bhagat/Bhagat-Jefferis.pdf .

Boyd, Brian & Solarino, Angelo. (2016). Ownership of Corporations: A Review, Synthesis, and Research Agenda. Journal of Management. 42. 10.1177/0149206316633746.

Claessens, S., & Fan, J. P. H. (2002). Corporate Governance in Asia: A Survey. International Review of Finance, 3(2), 71. https://doi.org/10.1111/1468-2443.00034

Claessens, S., & Yurtoglu, B. B. (2013). Corporate governance in emerging markets: A survey. Emerging Markets Review, 15, 1–33. https://doi.org/10.1016/j.ememar.2012.03.002

Cuomo, F., Mallin, C., & Zattoni, A. (2016). Corporate Governance Codes: A Review and Research Agenda. Corporate Governance: An International Review, 24(3), 222–241. https://doi.org/10.1111/corg.12148

Denes, M. R., Karpoff, J. M., & McWilliams, V. B. (2017). Thirty years of shareholder activism: A survey of empirical research. Journal of Corporate Finance, 44, 405–424. https://doi.org/10.1016/j.jcorpfin.2016.03.005

Denis, D. K., & McConnell, J. J. (2003). International Corporate Governance. Journal of Financial & Quantitative Analysis, 38(1), 1–36. https://doi.org/10.2307/4126762

Filatotchev, I., Jackson, G., & Nakajima, C. (2013). Corporate governance and national institutions: A review and emerging research agenda. Asia Pacific Journal of Management, 30(4), 965–986. https://doi.org/10.1007/s10490-012-9293-9

Garel, A. (2017). When Ownership Structure Matters: A Review of the Effects of Investor Horizon on Corporate Policies. Journal of Economic Surveys, 31(4), 1062–1094. https://doi.org/10.1111/joes.12180

Haan, J., & Vlahu, R. (2016). Corporate Governance of Banks: A Survey. Journal of Economic Surveys, 30(2), 228–277. https://doi.org/10.1111/joes.12101

Kolev, K. D., Wangrow, D. B., Barker, V. L., & Schepker, D. J. (2019). Board Committees in Corporate Governance: A Cross‐Disciplinary Review and Agenda for the Future. Journal of Management Studies (John Wiley & Sons, Inc.), 56(6), 1138–1193. https://doi.org/10.1111/joms.12444

Kovermann, J., & Velte, P. (2019). The impact of corporate governance on corporate tax avoidance—A literature review. Journal of International Accounting, Auditing & Taxation, 36, N.PAG. https://doi.org/10.1016/j.intaccaudtax.2019.100270

Love, I. (2011). Corporate Governance and Performance around the World: What We Know and What We Don’t. World Bank Research Observer, 26(1), 42–70. https://doi.org/10.1093/wbro/lkp030 .

De Massis, Alfredo & Sharma, Pramodita & Chua, Jess & Chrisman, James & Kotlar, Josip. (2012). State-of-the-art of family business research.

Mcnulty, Terry & Zattoni, Alessandro & Douglas, Tj. (2013). Developing Corporate Governance Research Through Qualitative Methods: A Review of Previous Studies. Corporate Governance An International Review. 21. 10.1111/corg.12006.

Sudheer Reddy & Aditya Mohan Jadhav | Yogesh Pai P (Reviewing editor) (2019) Gender diversity in boardrooms – A literature review, Cogent Economics & Finance, 7:1, DOI: 10.1080/23322039.2019.1644703

Saltaji, I. M. F. (2018). Corporate Governance: A General Review. Internal Auditing & Risk Management, 13(Supp1), 56–63. Retrieved from http://esc-web.lib.cbs.dk/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=133178421&login.asp&site=ehost-live&scope=site

Shleifer, A., & Vishny, R. W. (1997). A Survey of Corporate Governance. Journal of Finance (Wiley-Blackwell), 52(2), 737–783. https://doi.org/10.1111/j.1540-6261.1997.tb04820.x

Tingle, B. C. (2017). What Do We Really Know about Corporate Governance? A Review of the Empirical Research since 2000. Canadian Business Law Journal, 59(3), 292–331. Retrieved from http://esc-web.lib.cbs.dk/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bth&AN=125793225&login.asp&site=ehost-live&scope=site

Vatiero, M. (2017). On the (Political) Origin of “Corporate Governance” Species. Journal of Economic Surveys, 31(2), 393–409. https://doi.org/10.1111/joes.12147

Young, M. N., Peng, M. W., Ahlstrom, D., Bruton, G. D., & Jiang, Y. (2008). Corporate Governance in Emerging Economies: A Review of the Principal–Principal Perspective. Journal of Management Studies (Wiley-Blackwell), 45(1), 196–220. https://doi.org/10.1111/j.1467-6486.2007.00752.x

Yoshikawa, T., & Rasheed, A. A. (2009). Convergence of Corporate Governance: Critical Review and Future Directions. Corporate Governance: An International Review, 17(3), 388–404. https://doi.org/10.1111/j.1467-8683.2009.00745.x



Fee
DKK 6,500 / EUR 880,- (Does not include meals or reading materials)

Minimum number of participants
10

Maximum number of participants
25

Location
Copenhagen Business School
Dalgas Have 15
2000 Frederiksberg
Room: D4.36 +D4.39

Contact information

The PhD Support 
Nina Iversen
Tel.: +45 38 15 24 75
E-mail: ni.research@cbs.dk

Registration deadline
27/06/2021

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