Can Purpose Deliver Better Corporate Governance?

2020 IESE – ECGI Corporate Governance Conference

Can Purpose Deliver Better Corporate Governance?

  • 28 - 30 October 2020
  • Online

Organisers

John Almandoz, IESE; Marco Becht, Solvay Brussels School and ECGI; Jordi Canals, IESE; Fabrizio Ferraro, IESE; Mireia Giné, IESE and ECGI; Colin Mayer, University of Oxford and ECGI; Joan Enric Ricart, IESE; Paola Sapienza, Kellogg School of Management and ECGI.

About this event

The traditional notion of companies as profit-maximisation institutions is under challenge for being too narrow and not responding well to the pressing issues of our time. Purpose is, or can be, a powerful lever for sustained long-term value. And, if purpose matters, how can corporate leaders infuse corporations with a greater purpose? What roles do the CEO, the board of directors, and shareholders have in designing, strengthening, and reinforcing (when needed) corporate purpose?

The notion that companies should have a corporate purpose or mission that goes beyond financial performance has been considered in the fields of management, organisational behaviour, law and the economics of organisations for a long time. But the increasing weight of ESG dimensions in corporate governance and asset management, the call for positive societal impact, and the competition to attract and retain top talent -among other factors- draws us firmly closer to a deeper consideration of corporate purpose. At this turbulent time, ‘Corporate Purpose’ has galvanised a global movement that promises to restore trust in companies, to produce goods and services without doing harm, while providing a fair return to employees and shareholders.
 
Many of the world’s most valuable companies already have a clear purpose. Google had enshrined societal goals in its mission statement when it was founded in 1998: “to organize the world's information and make it universally accessible and useful”, along with a mantra of “Don't be evil”, somewhat echoing the “Do no harm” principle. Over a decade later, with a swelling of public discourse, the markets have joined the movement calling on businesses to make a positive contribution to society and to refocus corporate governance around a multi-stakeholder perspective. As businesses in turn, reflect on their purpose, they must also consider the questions that complicate the implementation of a vision or purpose and make it meaningful.
 
What defines a good corporate purpose and how can investors and board directors distinguish one that has merit from another that does not?; What makes it meaningful, the words or results?; How is it measured or assessed?; What drivers translate the purpose into a firm’s strategy and corporate culture?; What is its relationship with business performance?; Is it a luxury, distraction, marketing tool, or can it help to unify, strengthen and navigate crisis responses?; What roles do the CEO, the board of directors, employees and shareholders have in designing, strengthening, and reinforcing organisational purpose? Are there conflicting legal or market-related obstacles to be addressed when formulating a purpose?; Does it matter if the purpose is lacking any binding legal effect and operational significance?

Registration

To register please visit:

 https://apply.iese.edu/iese-ecgi-conference/booking

Contact

For queries, please contact: ieseccgconference@iese.edu

Participants

John Almandoz (IESE); Marco Becht (Solvay Brussels School, ECGI and CEPR); Patrick Bolton (Columbia University and ECGI); Jordi Canals (IESE); Fabrizio Ferraro (IESE); Claudine Gartenberg (The Wharton School at the University of Pennsylvania); Mireia Giné (IESE and ECGI); Jordi Gual (CaixaBank); Rebecca Henderson (Harvard Business School); Bengt Holmström (MIT and ECGI);  Sophie L’Hélias (LeaderXXChange and ICGN); Baroness Denise Kingsmill (Inditex and IAG) ; Juvencio Maeztu (CEO of IKEA); Colin Mayer (Saïd Business School, University of Oxford, British Academy and ECGI); Paul Polman (former CEO of Unilever); Joan Enric Ricart (IESE); Paola Sapienza (Kellogg School of Management, Northwestern University and ECGI); Henry Tricks (The Economist); José Viñals (Chair, Standard Chartered); Luigi Zingales (University of Chicago Booth School of Business and ECGI) 

 

Supported by:

 

Wednesday 28 October 2020 (CET) - DAY 1

Back to full programme

Introduction to the Conference. Day 1: An overview

Time:
15:45h
- 16:00h

Speakers

Fellow Research Member Institutional Member Board Member
16:00
- 17:00

Session 1

Back to full programme

Are corporate purpose statements "verbiage"?

Time:
16:00h
- 17:00h

Speakers

Discussants

17:15
- 18:15

Session 2

Back to full programme

Company valuation and the effects of ESG factors

Time:
17:15h
- 18:15h

Speakers

Discussants

Thursday 29 October 2020 (CET)- DAY 2

Back to full programme

Day 2: An overview

Time:
15:45h
- 16:00h

Speakers

Fellow Research Member Institutional Member Board Member
16:00
- 17:15

Session 3

16:00
- 17:15

Corporate purpose and the theory of the firm- Chair: Joan Enric Ricart (IESE Business School)

Moderator:
Panelists:
Paul Polman
Back to full programme

Corporate purpose and the theory of the firm- Chair: Joan Enric Ricart (IESE Business School)

Time:
16:00h
- 17:15h

Moderator

Panelists

Paul Polman
17:30
- 18:30

Session 4

Back to full programme

Corporate purpose, ownership and performance

Time:
17:30h
- 18:30h

Speakers

Discussants

Friday 30 October 2020 (CET)- Day 3

Back to full programme

Day 3: An overview

Time:
15:45h
- 16:00h

Speakers

Fellow Research Member Institutional Member Board Member
16:00
- 17:00

Session 5

Back to full programme

Unpacking the purpose of the corporation

Time:
16:00h
- 17:00h

Speakers

Discussants

17:15
- 18:15

Session 6: CEOs Roundtable

Back to full programme

Wrap-up

Time:
18:15h
- 18:30h

Speakers

Fellow Research Member Institutional Member Board Member

Speakers

Fellow Research Member Institutional Member Board Member
Paul Polman

Presentations

Back to all presentations

Introduction to the Conference. Day 1: An overview

Time:
15:45h
- 16:00h

Speakers

Fellow Research Member Institutional Member Board Member
Back to all presentations

Are corporate purpose statements "verbiage"?

Time:
16:00h
- 17:00h

Speakers

Discussants

Back to all presentations

Company valuation and the effects of ESG factors

Time:
17:15h
- 18:15h

Speakers

Discussants

Back to all presentations

Day 2: An overview

Time:
15:45h
- 16:00h

Speakers

Fellow Research Member Institutional Member Board Member
Back to all presentations

Corporate purpose, ownership and performance

Time:
17:30h
- 18:30h

Speakers

Discussants

Back to all presentations

Day 3: An overview

Time:
15:45h
- 16:00h

Speakers

Fellow Research Member Institutional Member Board Member
Back to all presentations

Unpacking the purpose of the corporation

Time:
16:00h
- 17:00h

Speakers

Discussants

Back to all presentations

Wrap-up

Time:
18:15h
- 18:30h

Speakers

Fellow Research Member Institutional Member Board Member

Panel Discussions

Corporate purpose and the theory of the firm- Chair: Joan Enric Ricart (IESE Business School)

Back to all panel discussions

Corporate purpose and the theory of the firm- Chair: Joan Enric Ricart (IESE Business School)

Time:
16:00h
- 17:15h

Moderator

Panelists

Paul Polman