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November 2010 Archives

16 November 2010

Carlos Brito: Corporate Success Depends on Individual Employees

Plenty of corporate CEOs say they want employees who know how to have fun. But Anheuser-Busch InBev NV chief Carlos Brito, MBA 1989, describing the demanding corporate culture he maintains, admits he doesn't even like the word.

"I think fun's too weak. ... I have fun at the beach with my kids," said Brito. "I like people at the company to have fun, sure, plus passion, plus commitment, plus energy, plus lots of other things. Fun is too weak if you want to be best at what we do."

In the Nov. 4 speech Brito, CEO of the world's largest beer marketer, discussed his view of what makes a high-achieving corporate culture. With 116,000 employees, Belgium-based AB InBev markets well-known brands from Budweiser to Stella Artois, and posted 2009 revenue of $36.8 billion. Brito's main message: Regardless of industry, the success of a corporation hinges in large part on hiring high-performing individuals, bringing passion and commitment to the job, and on building a company culture that keeps them.

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23 November 2010

Firms in Corrupt Countries Pay a Price in Market Value

Virtue seems to pay according to Professor Charles M.C. Lee whose research shows that publicly-held firms in countries perceived as less corrupt trade at bigger market premiums than those in places deemed more corrupt.

Stock markets are supposed to be the ultimate arbiter of company worth. But do they factor in a country's corruption, or virtue in valuing businesses?

Yes, says Charles M.C. Lee, an expert on markets and accounting at Stanford's Graduate School of Business. The GSB professor recently discussed his research showing that ethical lapses matter in the market value of companies. Publicly-held firms in countries perceived as less corrupt trade at bigger market premiums than those in places considered more corrupt, according to Lee. "Virtue seems to pay--at least over the longer term," he said in a November 5 talk.