Courses Master Display 2020-2021

Course Description To PDF
Course title Corporate Governance and Financial Stakeholders
Course code EBC4052
ECTS credits 6,5
Assessment Whole/Half Grades
Period
Period Start End Mon Tue Wed Thu Fri
1 31-8-2020 16-10-2020 X X
Level Advanced
Coordinator Stefanie Kleimeier
For more information: s.kleimeier@maastrichtuniversity.nl
Language of instruction English
Goals
Learn about the different types of financial stakeholders and their specific interests in the firm.
Understand the relationship between financial stakeholders, corporate governance and firm value.
Understand the need for corporate governance in today’s economies.

Description
PLEASE NOTE THAT THE INFORMATION ABOUT THE TEACHING AND ASSESSMENT METHOD(S) USED IN THIS COURSE IS WITH RESERVATION. THE INFORMATION PROVIDED HERE IS BASED ON THE COURSE SETUP PRIOR TO THE CORONAVIRUS CRISIS. AS A CONSEQUENCE OF THE CRISIS, COURSE COORDINATORS MAY BE FORCED TO CHANGE THE TEACHING AND ASSESSMENT METHODS USED. THE MOST UP-TO-DATE INFORMATION ABOUT THE TEACHING/ASSESSMENT METHOD(S) WILL BE AVAILABLE IN THE COURSE SYLLABUS.

The purpose of this course is to provide an understanding of corporate governance, i.e. how different corporate structures can lead to a better alignment of managers’ interests with those of financial stakeholders.

In the first part of the course, the prerequisites needed for an in depths understanding of corporate governance are discussed. First, corporate governance will be motivated both from an agency perspective as well as from a financial stakeholder perspective. Second, valuation will be discussed which is at the very heart of finance and is the core paradigm that we will use throughout our study of corporate governance. The basic evaluation techniques will be refreshed and reviewed in the context of a case study.

The second part of the course focuses on specific types of financial stakeholders and their impact on the governance of companies. The course explores the role of shareholders and pays attention to shareholder engagement. Regarding other financial stakeholders, this course explores project finance, privatization and financial distress as examples of corporate structures in which other financial stakeholders such as banks, bondholders, employees or the government play an important role. Special attention will be paid to the role of stakeholders in companies that face financial distress due to the economic consequences of the COVID-19 pandemic.
Literature
Package of articles and cases.
Prerequisites
Courses and workload are very demanding for all IB Master courses. Exchange students need to have obtained a Bachelor degree in business. Exchange students need to major in finance in their Master. Students are expected to understand the following concepts: capital budgeting including NPV, IRR, the calculation of WACC, the definition and estimation of cost of debt and equity, CAPM. The basics of financial accounting are also a prerequisite. An advanced level of English is required.
Teaching methods (indicative; course manual is definitive) PBL / Presentation / Lecture / Assignment / Groupwork
Assessment methods (indicative; course manual is definitive) Participation / Written Exam
Evaluation in previous academic year For the complete evaluation of this course please click "here"
This course belongs to the following programmes / specialisations
Master Business Research - No specialisation Year 1 Disc - IB Strategic Corporate Finance
Master Business Research - Operations Research Year 1 Elective Course(s)
Master Business Research - Operations Research Year 2 Elective Course(s)
Master Fiscal Economics Economics Elective(s)
Master International Business - Strategic Corporate Finance Compulsory Course(s)
SBE Exchange Master Master Exchange Courses
SBE Non Degree Courses Master Courses