Denmark, Aarhus

International Corporate Governance

when 3 July 2013 - 24 July 2013
duration 3 weeks
credits 5 EC

Corporate governance is the whole system of rights, processes and controls established internally
and externally over the management of a business entity with the objective of protecting the
interests of all stakeholders. Nevertheless, corporate governance systems differ between
countries which make them more-or-less country specific frameworks of legal, institutional and
cultural factors. Thus, it follows that the scope of the international corporate governance course is broad. It necessarily embraces the internal and external mechanisms of corporate governance and
The foundations of corporate governance, theories of the firm, the economic and legal framework
of corporate governance, corporate governance and financial markets, the role of corporations
and its governance in national and the global economy, implications of the financial crisis on
corporate governance and its importance, internal and external corporate governance
mechanisms, corporate governance codes and best practices, internal and external stakeholders,
corporate governance and value creation, structures and bodies, board composition, required
competencies of board members, evaluation of corporate governance.

Course leader

Prof. Dr. Markus Stiglbauer

Target group

Master students

Course aim

The recent financial crisis has led to a loss of trust in the quality of corporate governance and the
balance of the financial markets all over the world. The economic crisis that erupted in 2007/2008
and since deepened has revealed severe shortcomings in corporate governance arrangements. Alan
Greenspan, Chairman of the Federal Reserve of the United States from 1987 to 2006, stated: “I
made the mistake in presuming that the self-interests of organizations, specifically banks and
others, were such that they were best capable of protecting their own shareholders and the equity
of the firm” (Greenspan, 2008). A tremendous loss of trust in corporate governance quality since
then has put pressure not only on the financial sector but also on policy makers to change the
rules of the game. Therefore, politics and academics in many countries are still in search of the
holy grail of good corporate governance to avoid such problems in the future. This course aims to
provide students with knowledge on state of the art research and practice in international
corporate governance. Students learn how to use scientific methods and discuss and solve current
problems in this field and explore the latest state of the art research and practice in international
corporate governance. Therefore they work in interactive teams and prepare solutions after
evaluating and discussing case studies. The goal of the lecture is that students work on case
studies to enhance their managerial techniques. Soft skills are needed to discuss and develop best
solutions in teamwork situations.

Fee info

EUR 0: Students on a bilateral exchange programme do not have to pay. Freemovers are obliged to pay participation fees while tuition fees only apply to freemovers from countries outside the EU/EEA/Switzerland.