90456 - THE LAW AND ECONOMICS OF CORPORATE GOVERNANCE

Conoscenze e abilità da conseguire

The course introduces the students to the economic principles of financial transactions and financial contracts. In a financial transaction, a buyer and a seller exchange an asset for payment. The course will use the principles of financial economics and corporate finance to teach the students the main characteristics of financial transactions, particularly in the presence of asymmetric information, agency problems, holdouts and transaction costs, and the incentive schemes produced by the main legal remedies and contract clauses typically adopted in financial contracting. At the end of the course, the student will know the main contingencies pertaining to specific types of financial transactions (purchases, loans, mortgages, etc.) will have the ability to map the risks associated to those contingencies, and prioritize them. The student will also be able to apply economic techniques to correct those risks.

Contenuti

1. Teorie economiche dell'impresa

a) impresa come autorità

b) impresa come nesso di contratti

c) impresa ed investimento specifico

3. Law and finance

4. Una prospettiva internazionale: Italia, Germany, UK, USA, Giappone

Testi/Bibliografia

Oliver Hart: Firms, contracts and financial structure, Ch 2. OUP

Material distributed in class

Metodi didattici

Lezioni frontali + presantazioni da parte degli studenti

Modalità di verifica e valutazione dell'apprendimento

Esame finale, scritto da una ora

Orario di ricevimento

Consulta il sito web di Luigi Alberto Franzoni