Ateneo - UPO

The course aims to provide students with a theoretical and practical understanding of the governance, structure, and operational challenges faced by complex economic organizations. The focus will be on firms characterized by high levels of complexity in size, sector, ownership structure, and purpose, with special attention to state-owned enterprises (SOEs). The course will explore the economic foundations of corporate governance, the role of ownership and control, the relationship between public and private sectors, and the broader implications for economic policy and territorial development.
The course contents might be modified to include seminars or lectures by Visiting Professors.

Di Tommaso, Rubini, Barbieri, Tassinari, 2021. Economia e politica industriale. Organizzazione della produzione, innovazione e politiche di interesse pubblico. Il Mulino, 978-88-15-28796-0

Brickely, Smith, Zimmerman - Managerial Economics and Organizational Architecture. Irvin McGraw Hill, sixth edition.
Tirole. The Theory of Corporate Finance. Princeton University Press (chapter I).

1) Knowledge and understanding skills.
Upon completing the course, students will:
-Gain a deep understanding of corporate governance principles and their application in complex organizations, including SOEs
-Comprehend the theoretical underpinnings of governance models, such as agency theory and stakeholder theory
-Grasp the key governance challenges faced by SOEs, including balancing efficiency, accountability, and public service objectives
-Be able to critically analyze the role of governance in influencing organizational performance and economic development
- 2) Ability to apply knowledge and understanding.
Students will develop the ability to:
- - Analyze the governance structures of various types of organizations, including private and private firms and SOEs
- - Evaluate the effectiveness of governance mechanisms (e.g., boards of directors, ownership structures, and regulatory frameworks) in achieving organizational goals
- - Apply governance theories to assess real-world case studies of complex organizations
- - Link governance practices to broader economic and territorial development strategies, demonstrating the ability to integrate organizational objectives with societal needs
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- 3) Autonomy of judgment.
By the end of the course, students will:
- - Be able to independently evaluate governance challenges in complex organizations
- - Develop a critical perspective on the role of SOEs in modern economies
- - Exercise independent judgment in assessing the trade-offs between public and private interests in the governance of SOEs
- -Formulate well-reasoned opinions on policy interventions and governance reforms, taking into account the unique contexts of specific organizations and territories
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4) Communication skills.
Students will enhance their ability to:
- - Clearly and effectively communicate complex ideas related to corporate governance and the economics of complex organizations
- Collaborate in group settings to analyze case studies, fostering teamwork and the exchange of diverse perspectives
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5) Learning skills.
- The course is designed to foster the following learning skills:
- Critical thinking skills to identify, analyze, and solve governance-related problems in diverse organizational contexts
- - To be familiar with the relevant literature on the topic of corporate governance, especially that related to economic organizations of high complexity in terms of size, sector of activity, and ownership structure, with particular reference to SOEs

The course does not require any particular prerequisite.

Teacher-led lessons (theory and exercises).

Attendance is not mandatory but highly recommended.

Other textbooks:
Tirole. The Theory of Corporate Finance. Princeton University Press (capitolo I).
Other useful resources:
https://ideas.repec.org/
http://www.ssrn.com/en/
www.scholar.google.com

Department's electronic resources:
www.scopus.com
http://apps.webofknowledge.com/UA_GeneralSearch_input.do?product=UA&search_mode=GeneralSearch&SID=Z1PHRcE6xJX5IyMyunz&preferencesSaved=

Students with physical disabilities, Learning Disabilities or Special Education Needs can request specific services and tools via the Staff Sviluppo e Coordinamento Carriere e Servizi alle Studentesse e agli Studenti, consulting the University webpage: https://www.uniupo.it/en/services/servicesstudents-physical-or-learning-disabilities Students with disabilities, learning disabilities or special education needs, once they have contacted the University Staff, can refer to the tutor in charge of the course to define the examination modalities, concerning academic aspects.

The exam is written and consists of three parts: 1) an open question on fundamental aspects of the course, 2) an exercise divided into several sub-points, 3) a series of specific questions. The duration of the test is 1 hour and 30 minutes. The written exam allows for the assessment of the student's learning ability and communication skills, as well as whether they have developed an adequate understanding of the theoretical foundations of the course and the ability to apply theory to problem-solving.
The exam will focus on all the material mentioned in the "Course texts" session, including the slides in Moodle.
The maximum grade attainable in the written exam is 33/30 (“trenta e lode”). Students can take up to 3 even consecutive written tests during the exams sessions of the year.

1) Corporate Governance fundamentals
- Definition and importance of corporate governance in economic organizations
- Theories of the firm: agency theory, stakeholder theory, resource dependence theory
- Ownership structure, control mechanisms, and governance models
- Complex Organizations and State-Owned Enterprises (SOEs)
- The role of SOEs in modern economies: historical evolution, objectives, and performance
- Governance challenges in SOEs: balancing public and private objectives, political interference, and accountability.
- Policy Implications
2) Governance and performance: the impact of governance practices on economic outcomes
- Public-Private Partnerships (PPPs) as an alternative governance model
- SOEs and territorial development: contributions to local economies, infrastructure, and services

At the end of the course, the student will be able to:
- Interpret data and analyses related to the economy of public and private organizations
- Integrate the knowledge acquired and the skills developed into an interdisciplinary preparation aimed at understanding political and administrative systems, as well as the ability to interpret the dynamics and needs of territories