Strategic Finance and Corporate Governance
Strategic finance is the area of financial and strategic management, which refers to study of corporate performance with a long term view considering the strategic goals of the enterprise. The logic of the area says that financial performance should be analyzed both using financial instruments and strategic analysis. Here the issue of decision making under uncertainty is central.
Strategic finance also incorporates institutional approach to the firm as an entity. Here corporate governance is of extreme importance as a mix of financial, strategic, institutional and legal aspects. In strategic finance framework we are interested in impact of organizational/institutional issues on performance of the company.
The track includes topics:
- Impact of financial and accounting policies on corporate performance
- Risk management
- Real options analysis
- Long term valuation and private equity, asset pricing:CAPM, anomalies, behavioral finance, financial hedging/derivatives techniques
- National CG environments: CG codes, institutional and regulatory environment
- Corporate governance and financial performance
- Board of directors: power, responsibilities, structure and performance
- Top-management and compensation schemes
- Ownership structure and control
- Shareholders activism
We appreciate both theoretical and empirical papers. In the case of empirical papers we primarily (but not only) concentrate on emerging markets and comparative studies.