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所在平台: Udemy |
课程主页: https://www.udemy.com/course/corporate-governance-g/
课程评论：没有评论
**课程名称：** 公司治理 **课程概述：** 本课程旨在帮助学生深入理解公司治理的核心问题，特别是股东与内部管理者之间的**股权代理问题（即利益冲突）**，以及股东与债券持有人之间的**债权代理问题**。课程不仅剖析这些问题的根源，更提供行之有效的解决方案。 讲师将探讨**管理层薪酬工具**，例如员工股票期权，来解决代理问题。同时，课程会通过**案例研究**，分析上市公司如何向股东披露信息，以表明其不存在利益冲突。 除了代理问题，课程还将介绍**其他公司理论**，如**受托人理论（Stewardship Theory）**和**前景理论（Prospect Theory）**，帮助学生构建更全面的公司理论框架。 最后，课程将深入探讨**私募股权行业**。在该行业中，私募股权投资者（PE investors）常组成辛迪加（syndicates）。课程将重点讲解**牵头融资方**如何通过策略性地组织辛迪加，**最小化成员间的利益冲突**。例如，通过**提高股权占比**来降低**道德风险**（moral hazard），以及**传递目标公司质量信号**以解决**逆向选择**（adverse selection）问题。若操作得当，这将对目标公司的业绩产生积极影响。
This course makes students familiar with agency problems of equity (i.e. conflicts of interest between shareholders and insider managers) as well as agency problems of debt (i.e. conflicts of interest between stockholders and bondholders). Not only the problems are highlighted but also useful solutions to circumvent these conflicts of interests. Hence, the lecturer discusses management compensation tools, such as employee stock options. This course also includes a few case studies highlighting how listed firms report to their shareholders thereby indicating that they do not have any conflicts of interest. As agency problems are only one type of firm theories, the course further focusses on other theories of the firm, such as the stewardship theory and the prospect theory. Finally, a deep dive is done in the private equity industry. There, private equity investors often syndicate (i.e. a group of private equity investors) but the lead financier needs to structure the syndicate in such a manner that conflicts of interests are minimised. This can be done by taking a higher equity stake in order to reduce moral hazard problems but also to signal the quality of the target firm (i.e. an adverse selection problem). If this is done properly, the impact on target performance is beneficial.
