Корпоративное управление

2026/2027

Статус: Маго-лего

Кто читает: Школа финансов

Где читается: Факультет экономических наук

Охват аудитории: для своего кампуса

Преподаватели: Попов Константин Александрович

Язык: русский

Кредиты: 3

Контактные часы: 32

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Аннотация

The course on corporate governance provides a comprehensive overview of key concepts and practices in the field. Students will delve into the fundamentals, beginning with an introduction to governance and the agency problem. More recent theories, such as stakeholder theory, upper echelons theory, stewardship theory, and resource-based view will be considered. A brief overview of the historical development of corporate governance crises, tracing them from the Great Depression to the challenges faced in the 2020s, will be given. Students of the course will learn about the roles of governing bodies, including the Board of Directors (supervisory Board), Chief Executive Officer (CEO), and top management team (executive Board), in corporate performance, sustainability, and transparency. A special attention will be paid to the modern requirements for effective governance, including the role of the supervisory Board in corporate ESG (Environmental, Social, and Governance) transformation. The course concludes with an analysis of corporate governance through the lens of corporate financial performance, ESG transformation and transparency. Each lecture contains a theoretical description and an overview of results of recent empirical papers considering the impact of different corporate governance characteristics on corporate performance, ESG transformation and transparency. Seminar classes will be devoted to the analysis of practical cases together with the students, focusing on relevant corporate governance issues for BRICS countries. By the end of this course, the students will have a solid understanding of corporate governance principles and applied knowledge allowing them to conduct a comprehensive analysis of corporate governance in emerging markets. Additionally, the students will gain a comprehensive view of current trends in academic literature devoted to corporate governance, including relevant research questions and techniques. The level of the course suggests that the student has the basic knowledge of economics (microeconomics, macroeconomics), enterprise (management / corporate law or alike), corporate finance and statistics before joining the course. Absence of this knowledge is not a limiting point, but will increase the number of hours for learning the course.

Цель освоения дисциплины

Forming a comprehensive understanding of corporate governance in defferent contexts and time-frames with particular description of the components of corporate governance structure
Forming student's ability to critically evaluate the quality of corporate governance in companies and prospects for further improvements
Forming student’s ability to conduct analytical and academic studies devoted to the effects of corporate governance quality on corporate financial performance, ESG transformation and transparency

Планируемые результаты обучения

The student is able to identify key elements of corporate governance structure, describe characteristics of governing bodies (Board of directors, CEO, executive Board), distinguish between the contexts of private and public companies, recognizing differences in corporate governance across different countries and identifying best practices
The student is capable of describing the changes in corporate governance principles and characteristics in recent decades
The student is able to identify country-specific features of corporate governance in different markets
The student is able to conduct a comprehensive analysis of corporate governance quality using international standards and recent findings of academic and analytical papers, and predict the impact of corporate governance characteristics on corporate financial performance
The student is able to conduct a comprehensive analysis of corporate governance quality using international standards and recent findings of academic and analytical papers, and predict the impact of corporate governance characteristics on corporate ESG transformation
The student is able to assess the presence of sustainable corporate governance elements
The student is capable of conducting an academic research devoted to the impact of corporate governance characteristics on corporate financial performance and ESG transformation, formulating hypotheses, choosing an appropriate methodology and interpreting empirical findings

Содержание учебной дисциплины

Theoretical Framework of Corporate Governance
Corporate Governance Standards and Practices
Corporate Governance Effects on Corporate Financial Performance
Corporate Governance Effects on Corporate ESG Transformation and Transparency
Corporate Governance in the Context of Modern Challenges

Элементы контроля

Task 1. Corporate governance systems: A case study
The group of students selects a sample of public non-financial companies from a single country and from two industries. Period of analysis – from three to five years. Source of information – annual reports and other reports by companies, companies’ official websites. For these companies, the students determine corporate governance characteristics, find country-specific and industry-specific features of corporate governance.
Task 2. Corporate governance research overview
The group of students (same from the Task 1) selects a sample of empirical papers devoted to the effects of board, CEO and top-managers team characteristics on corporate financial performance and ESG transformation. The selected studies should be: conducted for the same country (or an international sample including selected country and countries from the same region / countries with the same corporate governance models); published not earlier than in 2018 in high-quality academic journals. For these papers, the students conduct a complex analysis to identify research questions, hypotheses, data and methodology, research results (including interpretation from theoretical and practical perspective). In their presentation, the students should present an overview of these parameters, and research lacunas detected in these papers.
In-class activity
Student's in-class performance.
Exam project
The group of students (same as for the Tasks 1 and 2) conducts a preliminary analytical study. The group selects a sample of public non-financial companies from a single country (or two countries from the same region) and from three or four industries. The group formulates the research question and hypotheses based on academic papers and analytical research devoted to corporate governance in the selected market. The group also creates the research methodology to check the hypotheses, and conducts a preliminary analysis of the data. Final materials are: 1. Excel file with the data necessary for research in line with its design, and sources of the data; 2. Analytical paper summarizing the results of your literature review, hypotheses, data, methodology, the results of preliminary analysis; 3. Presentation summarizing the key research elements.

Промежуточная аттестация

2026/2027 3rd module
0.2 * Task 1. Corporate governance systems: A case study + 0.4 * Exam project + 0.2 * In-class activity + 0.2 * Task 2. Corporate governance research overview

Список литературы

Авторы

Попов Константин Александрович

Программа дисциплины