Module ECON3441: Corporate Governance

Department: Economics

ECON3441: Corporate Governance

Tied To

• L100: Economics
• L103: Economics with Management
• L104: Economics with Management with Placement Year
• L105: Economics with Management with Study Abroad
• L106: Economics with Placement Year
• L109: Economics with Study Abroad
• L112: Business Economics (see Undergraduate Handbook 2016-2017 for details)
• L115: Economics (Shandong)
• L116: Economics (Shandong) with Study Abroad
• L117: Economics (Shandong) with Placement Year
• L1R1: Economics with French
• LL01: Economics and Politics with Study Abroad
• LL02: Economics and Politics with Placement Year
• N201: Business and Management
• N203: Business and Management with Placement Year
• N204: Accounting and Management with Placement Year
• N205: Masters in Business and Management with Placement Year (see Undergraduate Handbook 2019-2020 for details)
• N206: Accounting and Management with Study Abroad
• N207: Business and Management with Study Abroad
• N208: Masters in Business and Management with Study Abroad (see Undergraduate Handbook 2019-2020 for details)
• N302: Accounting and Finance with Placement Year
• N304: Accounting and Finance with Study Abroad
• N305: Finance
• N306: Finance with Placement Year
• N307: Finance with Study Abroad
• N500: Masters in Marketing (see Undergraduate Handbook 2019-2020 for details)
• N501: Marketing (see Undergraduate Handbook 2019-2020 for details)
• N505: Marketing with Placement Year (see Undergraduate Handbook 2019-2020 for details)
• N506: Masters in Marketing with Placement Year (see Undergraduate Handbook 2019-2020 for details)
• N507: Marketing with Study Abroad (see Undergraduate Handbook 2019-2020 for details)
• N508: Masters in Marketing with Study Abroad (see Undergraduate Handbook 2019-2020 for details)
• N509: Marketing and Management
• N510: Marketing and Management with Placement Year
• N511: Marketing and Management with Study Abroad
• NN12: Masters in Business and Management (see Undergraduate Handbook 2019-2020 for details)
• NN42: Accounting and Management
• NN43: Accounting and Finance

Pre-requisites

Corequisites

Excluded Combinations

Aims

• The module aims to enable students to develop:
• their understanding of internal and external corporate mechanisms and their impact on principal-agent relationships as well as the efficient use of corporate, social and environmental resources and sustainability. As both internal and external corporate governance mechanisms are explored, the module builds on the student's knowledge gained during their previous studies.
• a critical appreciation of the interdependence between internal and external corporate governance mechanisms.
• skills in the application of institutional economic theories to aid the analysis of corporate governance both at the level of individual organisations and economic systems.
• a critical understanding of reasons for and consequences of international differences in corporate governance systems.

Content

• New Institutional Economic Theory (especially Principal-Agent Theory, Property Rights Theory, Resource Dependence Theory, Stakeholder Theory) as an instrument to analyse corporate governance structures.
• The role of the board of directors, and the shareholders’ general meeting in the governance of companies.
• The rationale for and impact of codes of best practice for corporate governance.
• The impact of financial markets and investor behaviour on corporate governance.
• International differences in systems of corporate governance.

Learning Outcomes

• To have a critical appreciation of the role and the development of corporate governance, including an awareness of international differences in systems of corporate governance.
• To be able to critically analyse the impact of corporate governance structures on principal-agent problems and the efficient use of corporate, social and environmental resources.

• Ability to apply institutional economic theories to the analysis of corporate governance mechanisms.
• Ability to analyse interdependence between corporate governance and corporate finance with the help of institutional economic and financial theories.

• Group working skills
• Interpersonal and Written Communication - communicating ideas in the exam and formative assessments.
• Planning, Organisation and Time Management - e.g. by preparing for examinations, seminars and managing group work.
• Problem Solving and Analysis - by applying the necessary analytical skills, as well as the ability to apply concepts in corporate governance, in undertaking assessed work.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Teaching is by lectures, seminars and formative feedback. Learning takes place through attendance at lectures, preparation for and participation in seminars, group work and private study.
• Formative assessments guide students in the development of their knowledge and skills. They also support students' continuous engagement in learning throughout the module.
• Summative assessment is by means of a written exam.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

Participation in regular formative assessments throughout the module.