Corporate Governance
Objectives
1.Defining corporate governance and key theoretical models 1.1 Contrast the different definitions of corporate governance
1.2 Critically review the principal agent model 1.3 Discuss the agency problems of equity and debt
1.4 Discuss countries where corporate ownership and control are concentrated 2. Corporate control across the wold 2.1
Describe the differences in levels of corporate control across the world 2.2 Be aware of differences in the importance of
various types of shareholders across regions and countries 2.3 Berle Means hypothesis in the USA and UK 3. Control versus
ownership 3.1 Distinguish ownership from control 3.2 Explain the various combinations of weak or strong control, with
dispersed or concentrated ownership 3.3 Define security benefits and private benefits of control 4. Corporate governance
regulation in an international context 4.1 Understand the rationale behind various national and international codes of
corporate finance, etc...
General characterization
Code
67941
Credits
2
Responsible teacher
António do Pranto Nogueira Leite
Hours
Weekly - Available soon
Total - Available soon
Teaching language
English
Prerequisites
N/A
Bibliography
1)GOERGEN, MARC (2012), “INTERNATIONAL CORPORATE GOVERNANCE”, PEARSON 2) MINOW, NELL AND ROBERT
MONKS, (2011)“CORPORATE GOVERNANCE”, WILEY 3) TRICKER, BOB, (2015), “CORPORATE GOVERNANCE,
PRINCIPLES, POLICIES AND PRACTICES”, OXFORD
Teaching method
Teaching methodology will include academic review of main concepts and methodologies, case studies, press articles and
guest speaker sessions to examine the board process and further governance issues.
Evaluation method
Teaching methodology will include academic review of main concepts and methodologies, case studies, press articles and
guest speaker sessions to examine the board process and further governance issues.
Subject matter
1.Defining corporate governance and key theoretical models Definitions, corporate governance theory, agency problems of
debt and equity, expropriation of minority shareholders, alternative forms of organization and ownership 2. Corporate
control across the wold Corporate control in Western Europe, USA, Asia, other trasitional economies 3. Control versus
ownership Combinations of ownership and control, and the consequences of dispersed ownership and strong control 4.
Corporate governance regulation in an international context UK Codes of Corporate Governance, US approach, OECD
principles, Portuguese CGC, harmonization across EU, policies on positive discrimination 5. Incentivising and disciplining
managers Product market competition, the market for corporate control, dividends and dividend policy, Board of directors,
institutional investors, shareholder activism, managerial compensation and ownership, large shareholders and bank
monitoring, etc...