S. Corporate Governance and the Public Corporation

This offering meets 2 hours per week, but is worth 3 points of credit. The additional point of credit reflects the instructor's certification that the course assignments require student engagement and responsibilities beyond that found in a two hour lecture course.

Description:
Public corporations separate ownership and control with varying degrees among different ownership structures (dispersed ownership, concentrated ownership, and dual class). Such a separation presents a regulatory challenge as to how to mitigate agency problems of the controlling party while preserving the freedom to pursue business activities. This challenge is centered on the design of corporate governance. Using economic theory and empirical studies, this seminar will explore different aspects of corporate governance and the effect they have on the efficient performance of the public corporation. The list of topics for the final paper is not exhaustive and students will be encouraged to explore wider range of topics.

Seminar Requirement:
Students are required to do the reading in the syllabus for every class and participate in all class discussions. Additionally:
1) Students will be required to submit a 1000 word memorandum providing critical analysis of some of the assigned readings (not a summary). Each student will be assigned 3 specific articles at the start of the seminar (each for a different week) and each memorandum should be emailed to the professor by 8:00 pm the night before the day of the relevant session.
2) Each student will be assigned, or select, a topic on which a 4000 word final paper will be written and presented in class. For each such paper another student will be assigned as a commentator (with a 1000 words memorandum). The papers will be due at the sixth week of the seminar and will be presented in one of the following sessions.

Grades: The grade will reflect class participation, quality of memoranda and final paper, presentations, and comments.