Corporate Governance and the Effectiveness of Boards
Understanding how corporate boards are formed and how they act has become an important topic. Corporate failures and scandals such as Enron and Parmalat in the early 2000s and, more recently Volkswagen and Toshiba, have heated up debates in policy circles and media, as well as in academia, with respect to the role of boards in these scandals.
Research on boards focuses on examining how they influence firm strategic decisions and outcomes. Traditionally, this research focuses on linking board and/or individual characteristics to measures of firm decision-making and performance. More recently, researchers have begun to focus on contextualizing the role of boards in determining firm decisions and outcomes. Various contextual variables such as formal (law, regulations, quality of government) and informal institutions (culture, values, trust) have been considered as determinants of the way boards are characterized and formed, what their roles are, and how their members act and decide.
At the same time, part of the research on boards has been directed toward researching cognitive and behavioral aspects of teams’ and boards’ decision-making processes. Studies in this field aim at opening the so-called “black box” to find out how interactions between individual team and board members affect decision making, team and board effectiveness and, ultimately, also organizational performance. Among other things, this research focuses on analyzing the importance of behavioral and cognitive aspects such as trust, conflict and conflict management, commitment, information sharing, reflexivity, etc. on team and organizational performance.
Aim of the summer school
The aim of this summer school is to discuss the strength and weaknesses of both research pillars and their contribution to our understanding of how boards are formed and how they work in order to effectively perform their roles. We explicitly aim to determine to what extent their questions, methods, data, and outcomes are complementary or substitutes. Our approach is multi-disciplinary, meaning that we discuss research from economics, finance, management and sociology and psychology. We will also deal with measurement issues and discuss datasets and methodologies to use these datasets in research. Participants are invited to present their own research (ideas) in the field of board effectiveness.
This course is designed for ReMa, PhDs, Postdocs, academic staff members and practitioners with relevant academic background. Participants are expected to have a solid background in business, economics or management studies (at least at the Bachelor level).
It is expected that the participants have a sufficient command of the English language to actively participate in the discussions and to present their own work in English.
Topics will include:
- Introduction to corporate governance and agency theory
- Executive compensation
- Board composition and dynamics
- Board leadership
- Ownership structure and the role of shareholders
- Data and methods in corporate governance research: Dealing with endogeneity
- Comparative corporate governance
- Business elites and top management teams
- Corporate governance research: Using survey data
- Recent trends in corporate governance research
- Presentations of research proposals and papers
The workload is estimated at 40 hours (five days from 9-5 with lectures, workshops, assignments and (paper) presentations).
Participants who attend all sessions and who present a research proposal or paper on Friday will receive a certificate of participation signed by the coordinators of the summer school. Upon request the certificate can mention the workload of 40 hours (28 hours corresponds to 1 ECTS). Students can apply for recognition of these credits to the relevant authorities in their home institutions, therefore the final decision on awarding credits is at the discretion of their home institutions. We will be happy to provide any necessary information that might be requested in addition to the certificate of attendance.
Upon completion of this summer school participants will be able to:
- define and describe the basic elements of a corporate governance system;
- critically assess theories applied in the field of corporate governance;
- explain and discuss the major research approaches in the field of corporate governance;
- describe recent trends and topics in research on corporate governance;
- present, discuss and critically evaluate a paper published in a scientific journal; and
- write and present their own research proposal and/or a research paper.
The fee (€ 650) includes:
- participation in the programme
- course materials
- city tour and welcoming drinks
- dinner on Monday and Thursday evening
- coffee, tea and refreshments
The deadline for application is 1 May 2019.
Please submit the following documents with your application:
- Motivation letter
- Own research paper or proposal for presentation (if available)
For more information click "LINK TO ORIGINAL" below.