IBGC Congress is marked by discussions around value creation through Corporate Governance practices
During two days, 500 attendees and 50 speakers participated in the 15th Congress of Corporate Governance, organized by the Brazilian Institute of Corporate Governance (IBGC), in São Paulo, on October 13 and 14. The event was focused on discussions about Corporate Governance practices and value creation.
The opening session included a video with a testimonial by the Prince of Gales, who addressed the sustainability and how it must be discussed by the society. During the whole morning on the first day, several aspects were discussed, among which the excessive focus on shareholders, the general concern among executives and shareholders about short-term results and that the concept of value creation has been mistakenly linked to some premises, such as the focus on shares prices.
The topic was also discussed during the speech delivered by Lynn Stout, professor at the Cornel Law School, in the United States, and author of the book “The Shareholder Value Myth.” According to her, shareholders are treated differently from other stakeholders. Additionally, Lynn called the attention to the shareholder value myth as a way of warning Brazilian companies not to follow the same path as that of US companies, which have drastically reduced the number of listed companies in the country for the latest years.
Yet during the second day of the event, discussions were focused on topics related to listed, private and family companies, among other organizations. Among the discussions, highlights were the public corporations, compliance issues and integrated reports.
The general sessions during the second day called the audience’s attention to the creation of value based on a long-term view and to the relation between values and principles, on which organizations must be built, such as the responsibility and concern with sustainability. The last debate addressed the Brasil S.A. Governance topic, which dealt with the need of having Governance models that do work and the best way to assure an efficient Government that fosters the development through good Governance practices in the public sector.
In the closing session, Sandra Guerra, Chairwoman of IBCG’s Board of Directors, invited the audience to participate in the activities the Institute will be promoting in 2015, when IBGC will be celebrating its 20th anniversary.
