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First ECGTN Summer School
 
"Foundations of Corporate Governance"

Supported by the European Commission
Hosted by CIFRA-University of Amsterdam
12-21 June 2006
Amsterdam, the Netherlands
 
Organisers
Centre for Economic Policy Research (CEPR), Amsterdam Center for Research in International Finance (CIFRA)
Lecturers
Bruno Biais (University of Toulouse and CEPR), Katharina Pistor (Columbia Law School), Steve Haber (Stanford University),
Stijn Claessens (World Bank and University of Amsterdam), Enrico Perotti (University of Amsterdam and CEPR)

European Research Training Network “ECGTN” is funded under the EU’s Sixth Framework Programme, Contract No. MRTN-CT-2004-504799

General Description

The First Summer School has selected a group of top researchers with influential work on corporate governance, from an economic, legal and political perspective. The aims is to develop cutting edge thinking in the main disciplinary approaches to corporate governance which are indispensable to understand the nature of corporate governance systems across the world, their merits and limits, and their variation over time to educate young researchers in the field. The school is targeted to doctorate and post-doctorate students in economics, law and political science.

The aim is to progress from a tradition of describing governance differences across financial and legal systems to a scientific approach of explaining their origins, structure and performance, in order to understand their comparative advantages and inspire the current debate on corporate governance reform.

Program

The Summer school includes three PhD courses, of four or five lectures each. There will be opportunities for student interaction with the instructors, aimed at obtaining feedback.
Participants are invited to attend the conference “Large Shareholder Involvement in Corporate Governance” at the Anton Philips Center in Gruenendaal in the afternoon of Monday 12. Local transport will be provided.

Courses

Corporate Finance

0930-1200 Monday 12th through Thursday 15th
0930-1200 Monday 19th

The first part of this course will develop the theoretical foundation of financial contracting and the economic theory of the allocation of control rights. The second part will examine specific empirical evidence on the effect of different control allocation systems, with some focus on developing countries.

Instructor: Prof. Bruno Biais (Univ Toulouse) and Stijn Claessens (World Bank)


Governance systems and investor protection in developed and developing countries

1330-1600, Thursday 15th or Friday 16th
1330-1600 Monday 19th Tuesday 20th and Wednesday 21st

This course will cover recent literature on the institutional determinants of investor protection across developed and less developed countries. It will cover legal origin and political economy theories on the effect of investor protection on financial development and corporate governance, as well as on corporate performance. The second part will review the emerging literature on the political determinants for access to finance in developing countries.

Instructors: Prof. Enrico Perotti (UvA), Steve Haber (Stanford) and Stijn Claessens (World Bank)

Corporate governance law

1330-1600, Tuesday 13th through Thursday 15th
0930-1200, Monday 19th, Tuesday 20th and/or Wednesday 21st

The course will analyze differences in legislation and jurisprudence across legal systems, focusing on major corporate control questions such as takeovers, mergers and managerial compensation.

Instructor: Prof. Katharina Pistor (Columbia), Joe McCahery (UvA) and Jaap Winter (UvA)