Unlocking the culture code – the value of corporate culture
Nov
14
06:00 PM - 09:00 PM
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Summary
On November 14, 2024, the UBS Center and Università della Svizzera italiana gathered a significant audience in a joint event to explore the critical role corporate culture plays in both the triumphs and failures of businesses today. In his keynote lecture, Prof. Luigi Guiso delved into the evolving understanding of corporate culture in economic research and business. The panelists concluded that corporate culture is a living, dynamic construct shaped by leadership, values, and societal influences.
Read our summary
On November 14, 2024, the UBS Center and Università della Svizzera italiana gathered a significant audience in a joint event to explore the critical role corporate culture plays in both the triumphs and failures of businesses today. In his keynote lecture, Prof. Luigi Guiso delved into the evolving understanding of corporate culture in economic research and business. The panelists concluded that corporate culture is a living, dynamic construct shaped by leadership, values, and societal influences.
Read our summary
The panel discussion brought together Luigi Guiso, Sergio P. Ermotti (UBS), and Ernst Fehr (University of Zurich), with USI Rector Luisa Lambertini as moderator.
Speaker
Luigi Guiso is the Axa Professor of Economics at the Einaudi Institute for Economics and Finance. He has directed the Finance Programme at CEPR of which he is still a fellow. He has held teaching positions at the University of Rome, the European University Institute, the University of Chicago, Graduate School of Business and at Northwestern University, Kellogg School of Management. He is a recipient of several publishing awards. Luigi Guiso has broad research interests. Besides his work in the field of households finance, he has contributed research in the field of labor economics, firms’ investment and financial decisions, entrepreneurship and banking, political economy and institutions, and in the field of culture and economics.
Sergio P. Ermotti has been Group CEO of UBS Group AG and President of the Executive Board of UBS AG since April 2023. He was also the Group CEO from 2011 to 2020. He re-joined UBS from Swiss Re, where he was Chairman of the Board of Directors until April 2023. Prior to joining UBS in 2011, he was at UniCredit Group where from 2007 to 2010 he served as Group Deputy Chief Executive Officer and Head of Corporate & Investment Banking and Private Banking, prior to that he served as Head of the Markets & Investment Banking Division. Between 1987 and 2004, he held various positions at Merrill Lynch & Co. in the areas of equity derivatives and capital markets. He became Co-Head of Global Equity Markets and a member of the Executive Management Committee for Global Markets & Investment Banking in 2001.
Professor of Economics, Director at the UBS Center
Ernst Fehr received his doctorate from the University of Vienna in 1986. His work has shown how social motives shape the cooperation, negotiations and coordination among actors and how this affects the functioning of incentives, markets and organisations. His work identifies important conditions under which cooperation flourishes and breaks down. The work on the psychological foundations of incentives informs us about the merits and the limits of financial incentives for the compensation of employees. In other work he has shown the importance of corporate culture for the performance of firms. In more recent work he shows how social motives affect how people vote on issues related to the redistribution of incomes and how differences in people’s intrinsic patience is related to wealth inequality. His work has found large resonance inside and outside academia with more than 100’000 Google Scholar citations and his work has been mentioned many times in international and national newspapers.
Luisa Lambertini is Rector of Università della Svizzera italiana and Professor of International Finance at EPFL and at USI. She has been Associate Vice-President of the Ecole Polytechnique Fédérale de Lausanne (EPFL), at the head of the Doctoral School (with 2400 students and 22 programmes) and of continuing education. Professor Lambertini has held the chair of International Finance at EPFL since 2009, which she arrived at after a brilliant academic career developed at prestigious American universities such as the University of California at Los Angeles (UCLA) and Boston College. A world-renowned expert in the fields of international finance, macroeconomics and political economy, she has worked with a number of major international institutions, notably as an advisor to the European Central Bank (Fiscal Policy Division), the Federal Reserve Bank and the Swiss National Bank. She was president of the International Banking, Economics and Finance Association (IBEFA). For many years she chaired the WISH Foundation (Women in Sciences and the Humanities) at EPFL, inaugurating innovative initiatives, financed by private donations, to promote women's careers in research.
Luigi Guiso is the Axa Professor of Economics at the Einaudi Institute for Economics and Finance. He has directed the Finance Programme at CEPR of which he is still a fellow. He has held teaching positions at the University of Rome, the European University Institute, the University of Chicago, Graduate School of Business and at Northwestern University, Kellogg School of Management. He is a recipient of several publishing awards. Luigi Guiso has broad research interests. Besides his work in the field of households finance, he has contributed research in the field of labor economics, firms’ investment and financial decisions, entrepreneurship and banking, political economy and institutions, and in the field of culture and economics.
Sergio P. Ermotti has been Group CEO of UBS Group AG and President of the Executive Board of UBS AG since April 2023. He was also the Group CEO from 2011 to 2020. He re-joined UBS from Swiss Re, where he was Chairman of the Board of Directors until April 2023. Prior to joining UBS in 2011, he was at UniCredit Group where from 2007 to 2010 he served as Group Deputy Chief Executive Officer and Head of Corporate & Investment Banking and Private Banking, prior to that he served as Head of the Markets & Investment Banking Division. Between 1987 and 2004, he held various positions at Merrill Lynch & Co. in the areas of equity derivatives and capital markets. He became Co-Head of Global Equity Markets and a member of the Executive Management Committee for Global Markets & Investment Banking in 2001.
Professor of Economics, Director at the UBS Center
Ernst Fehr received his doctorate from the University of Vienna in 1986. His work has shown how social motives shape the cooperation, negotiations and coordination among actors and how this affects the functioning of incentives, markets and organisations. His work identifies important conditions under which cooperation flourishes and breaks down. The work on the psychological foundations of incentives informs us about the merits and the limits of financial incentives for the compensation of employees. In other work he has shown the importance of corporate culture for the performance of firms. In more recent work he shows how social motives affect how people vote on issues related to the redistribution of incomes and how differences in people’s intrinsic patience is related to wealth inequality. His work has found large resonance inside and outside academia with more than 100’000 Google Scholar citations and his work has been mentioned many times in international and national newspapers.
Luisa Lambertini is Rector of Università della Svizzera italiana and Professor of International Finance at EPFL and at USI. She has been Associate Vice-President of the Ecole Polytechnique Fédérale de Lausanne (EPFL), at the head of the Doctoral School (with 2400 students and 22 programmes) and of continuing education. Professor Lambertini has held the chair of International Finance at EPFL since 2009, which she arrived at after a brilliant academic career developed at prestigious American universities such as the University of California at Los Angeles (UCLA) and Boston College. A world-renowned expert in the fields of international finance, macroeconomics and political economy, she has worked with a number of major international institutions, notably as an advisor to the European Central Bank (Fiscal Policy Division), the Federal Reserve Bank and the Swiss National Bank. She was president of the International Banking, Economics and Finance Association (IBEFA). For many years she chaired the WISH Foundation (Women in Sciences and the Humanities) at EPFL, inaugurating innovative initiatives, financed by private donations, to promote women's careers in research.
Press
For many companies, corporate culture is a cornerstone of their business that influences the performance and, not least, determines the value of the company. But why is it (still) so important and, above all, how great is the risk of it becoming an end in itself? Get answers from the interview with Prof. Luigi Guiso from the Einaudi Institute for Economics and Finance who was the keynote speaker at our Opinion event in Lugano.
For many companies, corporate culture is a cornerstone of their business that influences the performance and, not least, determines the value of the company. But why is it (still) so important and, above all, how great is the risk of it becoming an end in itself? Get answers from the interview with Prof. Luigi Guiso from the Einaudi Institute for Economics and Finance who was the keynote speaker at our Opinion event in Lugano.
Luigi Guiso is the Axa Professor of Economics at the Einaudi Institute for Economics and Finance.
Outline
In our joint event with the Università della Svizzera italiana in Lugano we explored the critical role corporate culture plays in both the triumphs and failures of businesses today. By combining insights from economic research and real-world practice, we shed light on key questions such as: Why is corporate culture so crucial? How does corporate culture influence business performance, including firm value, risk-taking, and long-term success? What are the mechanisms that create and sustain an effective corporate culture, and how can it be measured?
The event was held in English. For our Italian-speaking guests on-site, we offered simultaneous translation from English to Italian.
In our joint event with the Università della Svizzera italiana in Lugano we explored the critical role corporate culture plays in both the triumphs and failures of businesses today. By combining insights from economic research and real-world practice, we shed light on key questions such as: Why is corporate culture so crucial? How does corporate culture influence business performance, including firm value, risk-taking, and long-term success? What are the mechanisms that create and sustain an effective corporate culture, and how can it be measured?
The event was held in English. For our Italian-speaking guests on-site, we offered simultaneous translation from English to Italian.
Program
| 17.30 |
Door opening |
| 18.00 |
Welcome address Luisa Lambertini (Università della Svizzera italiana) Ernst Fehr (University of Zurich) |
| 18.10 |
Keynote lecture Luigi Guiso (Einaudi Institute for Economics and Finance) |
| 18.40 |
Panel discussion with Q&A Sergio P. Ermotti (UBS Group AG) Ernst Fehr (University of Zurich) Luigi Guiso (Einaudi Institute for Economics and Finance) Moderation: Luisa Lambertini (Università della Svizzera italiana) |
| 19.45 |
Flying dinner |
| 21.00 |
End of event |
| 17.30 |
Door opening |
| 18.00 |
Welcome address Luisa Lambertini (Università della Svizzera italiana) Ernst Fehr (University of Zurich) |
| 18.10 |
Keynote lecture Luigi Guiso (Einaudi Institute for Economics and Finance) |
| 18.40 |
Panel discussion with Q&A Sergio P. Ermotti (UBS Group AG) Ernst Fehr (University of Zurich) Luigi Guiso (Einaudi Institute for Economics and Finance) Moderation: Luisa Lambertini (Università della Svizzera italiana) |
| 19.45 |
Flying dinner |
| 21.00 |
End of event |
Venue
Università della Svizzera italiana
Aula magna, Via Giuseppe Buffi 13, 6900 Lugano
(Google Maps)