Nottingham University Business School
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Corporate Restructuring and Governance

Please note that the following information may be subject to change.

Programme: Undergraduate

Module Code: N13607

Semester: Autumn

Convenor: Kevin Amess

Credits & Level: 10 credits; Level 3

Pre-requisites: None.

Co-requisites: None.

Target Students: Available to all Part I and Part II students.

Delivery: 11 one-hour lectures plus 2 two-hour tutorials.

Assessment: One 2 hour examination (100%)

Exam Format:Answer any Two questions. All questions carry equal marks. Paper contains Six questions.

Summary of Content This module examines the antecedents and consequences of corporate restructuring. Factors triggering corporate restructuring are considered in a number of alternative organisational settings. In particular, the role of corporate governance in inducing and shaping corporate restructuring receives special attention (in particular, executive compensation and the market for corporate control). The process of restructuring is discussed against a background of resource-based, agency and behavioural theories of the firm. The impact of corporate restructuring on the size, complexity, incentive systems and ownership structure of large firms is examined. Finally, the evidence relating to the effects of corporate restructuring on performance, employment, R&D and corporate governance is examined.

Aims The aim of the module is to introduce participants to analysis of different forms of corporate restructuring, with a focus on the internal and external factors influencing restructuring as well as the effects of restructuring on a variety of firm level outcomes.

Key Words: Corporate Restructuring; Corporate Governance; Market for Corporate Control; Take-Over Defences; Executive Remuneration; Management and Leveraged Buy-Out; Private Equity.

Learning Objectives & Outcomes Knowledge and understanding
This module develops a knowledge and understanding of:
  • The management of resources
  • The application of economics and strategy.

    To develop an informed opinion about topical debates on executive pay, the Board of Directors, take-overs, private equity and leveraged buy-outs.
Intellectual skills
This module develops:
  • Conceptual and critical thinking, analysis, synthesis and evaluation
Professional practical skills
This module develops:
  • The ability to recognise features of good corporate governance; offer solutions to corporate governance problems; recognise the drivers and effects of corporate restructuring.
Transferable (key) skills
This module develops:
  • Articulating and effectively explaining information
Knowledge and understanding (Industrial Economics)
This module develops a knowledge and understanding of:
  • The applications of economics. To discover how to apply relevant economic principles and reasoning to a variety of applied topics, in particular in the fields of industrial organisation and managerial economics.
  • The applications of economics to design, guide and interpret commercial, economic, social and environmental policy.
  • Economic principles and tools addressing the microeconomic issues of decision and choice
  • Economic principles and tools addressing the microeconomic issue of the relationships between principals and agents

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