26 July 2019
on course website
Corporate Governance after the Financial Crisis
Failing Corporate governance of financial institutions has often been mentioned as an important cause of the crisis. Consequently, having a deeper understanding how Corporate boards are formed and how they act have become a topic of increasing importance. Do you want to know how corporations are directed and how we can make them perform better? This course will provide you with the answers! On top of that, we will visit the Euronext Amsterdam, the Dutch Stock Exchange, where you can practice your skills as a trader.
Hundreds of billions of dollars in valuation were lost by scandals caused by failing corporate governance. Notable examples of this include Lehman Brothers, Parmalat and Ahold. These scandals also contributed to a climate in which trust between consumers and companies, between investors and directors, is harmed. Together with the Financial Crisis, these scandals inspired (semi) self-regulating bodies, governments, the EU and organizations like the OECD to take initiatives to improve corporate governance routines and safeguards. Corporate Governance Codes were altered and Codes for Financial Institutions were drafted to stimulate boards and shareholders to pursue a long-term strategy. The question remains however whether these changes will successfully prevent short-termism and excessive risk-taking, and, if not, what else can be done? This central question will be dealt with in the lectures of the course “Corporate Governance after the Financial Crisis” from both economic and legal perspectives.
On Monday, several theories behind corporate governance will be explained. After that, the mechanisms of corporate governance (markets, law and regulation, gatekeepers and watchdogs and self-regulation) will be discussed. Furthermore, the students will be instructed on how to write a paper on one of the pivotal corporate scandals. The theme of Tuesday will be risk management and reporting. During this session, the requirements for risk management and the way this has to be accounted for in the annual report will be assessed. In addition, it will be explained how to report in a sustainable and integrated manner. On Wednesday all participants will go on an excursion to Amsterdam. This starts with a visit to Euronext Amsterdam, which is the Dutch stock exchange, where you can have a look on the trading floor during an interactive tour. After this, we will go to Loyens & Loeff, which is one of the most prestigious law firms in the Netherlands, for a lecture about private equity.
During the fourth day, we will focus on supervisory board systems’. Specifically, the difference between one tier and two-tier systems will be clarified. Hereafter we will enjoy two lectures about executive pay. On the final day, we will enjoy a lecture on boardroom dynamics from an experienced former board member, Luigi Pinna. After the participants will present their papers after which the best group will win a prize. At the end of the afternoon, we will organize a social event during which we will award the participation certificates.
Prof. dr. Wilco J. Oostwouder (professor of corporate finance law UU and attorney at law Loyens & Loeff N.V.)
Bachelor and Master students with an interest in Law & Economics. Ph.D. students and young professionals are also welcome to apply.
To equip students and young professionals with an insight into the background and development of key issues in Corporate Governance. The assignment will stimulate participants to apply this knowledge to one of the big scandals whilst also practicing academic writing skills. This course is also an excellent introduction to the course Public Law & Economics and the Caput Corporate Governance of the Master Law & Economics of Utrecht University.
EUR 650: Course fee
EUR 200: Housing fee
on course website