Syllabus

Title
5032 Specialization Course - Corporate Governance
Instructors
Univ.Prof. Dr. Klaus Gugler
Contact details
klaus.gugler@wu.ac.at
Type
PI
Weekly hours
4
Language of instruction
Englisch
Registration
02/17/21 to 02/23/21
Registration via LPIS
Notes to the course
Subject(s) Bachelor Programs
Specialization Course - Corporate Governance
Course II - Economics Fields
Dates
Day Date Time Room
Wednesday 03/10/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 03/17/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 04/07/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 04/14/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 04/21/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 04/28/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 05/05/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 05/12/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 05/19/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 05/26/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 06/02/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 06/09/21 08:45 AM - 12:15 PM Online-Einheit
Wednesday 06/16/21 08:45 AM - 12:15 PM Online-Einheit

On this page:

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Contents
The module gives an overview over the literature on Corporate Governance with special emphasis on the relation between ownership structure and performance. Moreover, macroeconomic consequences are analysed by presenting the main literature on financial markets and economic development. The cash flow and investment literature will also be covered. The topics covered are: 1. The Principal-Agent problem; 2. Financial markets and economic development; 3. Ownership structure and performance; 4. Cash flow and investment;
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Learning outcomes
The course enables students to understand the main mechanisms of corporate control and their effects on financial market development.
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Attendance requirements

Attendance is mandatory, max. 2 absences without valid excuse

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Teaching/learning method(s)
The course surveys in the lecture part the main theoretical and empirical contributions in CG. The seminar part is on real world CG cases.
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Assessment
Exam (60%, minimum 40% at exam), Seminar presentation (25%), Presentation of a firm ownership and control structure (15%)
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Readings
1 Author: Gugler Klaus
Title: Corporate Governance and Economic Performance

Publisher: Oxford: Oxford University Press
Year: 2001
Content relevant for diploma examination: No
Recommendation: Reference literature
Type: Book
2 Author: Mueller, Dennis C.
Title: The Corporation: Investment, Mergers, and Growth

Publisher: Routledge
Year: 2003
Content relevant for diploma examination: No
Recommendation: Reference literature
Type: Book
3 Author: Jensen, M.C., and W.H. Meckling
Title: Theory of the firm: managerial behavior, agency costs and ownership structure

Publisher: Journal of Financial Economics
Remarks: Volume 3, pp. 305 - 360
Year: 1976
Content relevant for diploma examination: No
Recommendation: Reference literature
Type: Journal
4 Author: Becht, Bolton, Roell
Title: Corporate Governance and Control

Publisher: ECGI WP
Year: 2005
Content relevant for diploma examination: No
Recommendation: Reference literature
5 Author: Levine, Ross
Title: Finance and Growth: Theory and Evidence

Publisher: The Netherlands: Elsevier Science
Remarks: in Handbook of Economic Growth, Eds: Philippe Aghion and Steven Durlauf
Year: 2005
Content relevant for diploma examination: No
Recommendation: Reference literature
Type: Book
6 Author: Shleifer/Vishny
Title: A Survey of Corporate Goverance

Publisher: Journal of Finance
Remarks: Vol. 52, 737-783
Year: 1997
Content relevant for diploma examination: No
Recommendation: Reference literature
Type: Journal
7 Author: Börsch-Supan Axel, Köke Jens
Title: An Applied Econometricians´ View of Ecmpirical Corporate Governace Studies

Publisher: German Economic Review
Remarks: Vol. 3 (3), pp. 295 - 326
Year: 2002
Content relevant for class examination: No
Content relevant for diploma examination: No
Recommendation: Reference literature
Type: Journal
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Availability of lecturer(s)

Office Hours: Thursday, 10.00 - 11.00

Institute for Quantitative Economics, Building D4, 1st floor (please note: the main entrance to the department is on the second floor!)

email: klaus.gugler@wu.ac.at

Tel: +43 (1) 31336 - 5444

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Unit details
Unit Date Contents
1 10.03.2021

Introduction

Principal agent: Jensen/Meckling
2 17.03.2021

Mechanisms of CG
3 07.04.2021

Mechanisms of CG
4 14.04.2021

Mechanisms of CG
5 21.04.2021

Presentations of an ownership and control structure
6 28.04.2021

Ownership structure and performance
7 05.05.2021

Ownership structure and performance
8 12.05.202

Financial markets and economic development
9 19.05.2021

Test
10 26.05.2021

Seminar presentations
11 02.06.2021

Seminar presentations
12 09.06.2021

Seminar presentations
13 16.06.2021

Seminar presentations
Last edited: 2021-03-11



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