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Prerequisites
Taught by
Language of instruction
Duration
Identical coursesGovernance (B-KUL-D0N73A)
Aims
This course aims to learn students what a well governed firm is and how governance contributes to long term value creation. After having followed this course, students should be able to discuss the main reasons why governance is relevant , what the main instruments are (e.g. board of directors, committees,…), knowing the institutional framework related to governance in a Belgian and international context.
* present their own findings and conclusions for an audience of specialists
Previous knowledge
At the beginning of this course, students are familiar with the contents of the following courses:
Accountancy and financial statement analysis
Is included in these courses of study
- Master in de toegepaste economische wetenschappen (Leuven) 60 ects.
- Master in de accountancy en het revisoraat (programma voor studenten gestart vóór 2024-2025 in de master en/of in het schakel- of voorbereidingsprogramma indien zij hiervoor kiezen) (Leuven) 60 ects.
- Master of Business Economics (Leuven) 60 ects.
- Courses for Exchange Students Faculty of Economics and Business (Leuven)
- Master in de accountancy en het revisoraat (programma voor studenten gestart in de master in 2024-2025 of later, en voor studenten gestart in de master en/of het schakel- of voorbereidingsprogramma vóór 2024-2025 indien zij hiervoor kiezen) (Leuven) 60 ects.
Activities
3 ects. Governance (B-KUL-D0N73a)
Content
First, the concept of corporate governance is outlined as well as the relevance of governance for firm performance and long term value creation are explained. Not only financial performance, but also to aspects of business ethics are discussed.
Second, the various possible governance mechanisms are explained. The specific roles of the different governance mechanisms are addressed: the board, the different possible committees (audit committee, renumeration committee, governance committee), the role of the CEO (executive compensation), the role of the external auditor in the governance landscape. Furthermore, the impact of the ownership structure is studied.
Finally, the legal framework of corporate governance is discussed in both Anglo-Saxon and in European and Belgian contexts and the different requirements for listed companies (financial and non-financial companies) and non-listed companies are discussed.
Course material
Articles and literature
Preparatory material
Toledo
Format: more information
Prior to the practical case studies, guest speakers (including accounting firms) are invited who were involved in the supervision of these operations in order to explain the practical side of it.
Is also included in other courses
Evaluation
Evaluation: Governance (B-KUL-D2N73a)
Explanation
Features of the evaluation
* The written exam is a closed book exam consisting of open questions.
Determination of final grades
*The grades are determined by the lecturer, in line with the examination regulations and as communicated via Toledo.
*The result is calculated and communicated as a number on a scale of 20.
Information about retaking exams
The features of the evaluation and determination of grades are identical to those of the first examination opportunity, as described in the tab 'Explanation'.