Apart from their assigned mod courses, 1L students may only enroll in courses offered as 1L electives. A complete list of these courses can be found on the 1L Elective Listings page. 1L students must use the 1L class number listed on the course description when enrolling.
251.14 sec. 1 - Corporate Governance and Economic Development (Spring 2027)
Instructor: Dhammika Dharmapala (view instructor's teaching evaluations - degree students only)
View all teaching evaluations for this course - degree students only
Units: 2
Grading Designation: Graded
Mode of Instruction: In-Person
Meeting:
Th 08:00 AM - 09:50 AM
Location: Law 10
From January 14, 2027
To April 22, 2027
Course End: April 22, 2027
Class Number: 33685
Enrollment info:
Enrolled: 0
Waitlisted: 0
Enroll Limit: 24
As of: 11/03 10:05 PM
This class provides an overview of recent scholarship on comparative corporate governance and its impact on the development of stock markets and the economy. It particularly emphasizes the context of developing and transitional economies and other jurisdictions without a long tradition of strong corporate and securities law and enforcement. Topics to be covered include the following: the distinctive legal and governance issues (including various forms of self-dealing) raised by firms with controlling shareholders; the regulation of related-party transactions; the role of the mandatory bid rule and preemptive rights in limiting private benefits of control and the legal and institutional preconditions for stock market development; the impact of historical legal origins on stock market development; evidence on the impact of corporate and securities law reforms on firm value and stock market development; the distinctive context of corporate governance in China; regulatory dualism, as exemplified by the Brazilian stock exchange; corporate governance and corporate social responsibility (CSR); environmental, social and governance (ESG) objectives and policies towards externalities generated by corporations; the links between corporate governance and corporate taxation. While some background in areas such as corporate and securities law may be helpful, there is no prerequisite for the class. Some readings from the “law and finance” literature will be interdisciplinary in approach, and some undertake statistical analysis. However, no background in finance or statistics will be assumed. Rather, the emphasis will be on understanding the implications of the readings for law and policy.
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Requirements Satisfaction:
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Exam Notes: (P) Final Paper
(Subject to change by faculty member only through the first two weeks of instruction)
Course Category: Business Law
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Readers:
No reader.
Books:
Instructor has indicated that no books will be assigned.