• Investment timing and the return on VC backed IPOs

      Manigart, Sophie; Mulier, Klaas; Verplancke, Frederik (2019)
      In this study we explain the returns obtained on venture capital (VC) investments in US companies that go public. Using a unique dataset of 1,921 investor-IPO returns, representing 564 IPOs, we show that later investments result in a higher return. This holds after controlling for observed and unobserved IPO company and VC investor characteristics. This is counterintuitive, as later investments should be less risky compared to early investments. We show that the positive relationship between investment timing and return can be explained by the VC’s reputation and the risk and uncertainty related to the IPO. The higher returns for late investments are obtained by high reputation VCs and on investments in more risky and uncertain IPOs. We exclude other possible explanations, such as IPO ratchets for late investors, exit pressure because of the relatively short VC fund lifespan cycle or by unexpected funding needs before IPO that expropriate early investors.
    • Investments in consumer relationships: a critical reassessment and model extension

      Odekerken-Schröder, Gaby; De Wulf, Kristof; Van Kenhove, Patrick (International Review of Retail, Distribution and Consumer Research, 2003)
    • Investments in consumer relationships: a cross-country and cross-industry exploration

      De Wulf, Kristof; Odekerken-Schröder, Gaby; Iacobucci, D. (Journal of Marketing, 2001)
    • IP Models to orchestrate innovation ecosystems: IMEC, a public research institute in nano-electronics

      Leten, Bart; Vanhaverbeke, Wim; Roijakkers, Nadine; Clerix, André; Van Helleputte, J. (California Management Review, 2013)
      Companies increasingly organize innovation activities within innovation ecosystems. This study illustrates the central role of the IP-model that an orchestrator develops for the innovation ecosystem partners. The governance of IP is instrumental for the success of innovation ecosystems as it determines the value appropriation potential for the ecosystem partners and positively influences the success of innovation ecosystems. The insights are based on a case study of IMEC, a public research institute in nano-electronics. IMEC has an IP-based orchestration model for innovation ecosystems through multi-party research collaborations between public and private firms. (Keywords: Innovation Management, Intellectual Property, Innovation Networks, Innovation Ecosystems, Open Innovation)
    • Is advertising for losers? An empirical study from a value creation and value capturing perspective

      Tackx, Koen; Rothenberger, Sandra; Verdin, Paul (European Management Journal, 2017)
      Does advertising lead to higher profits? This question has preoccupied company executives and academic researchers for many decades. Arguments have been put forth in both directions, and evidence is mixed at best. In this article, we re-examine the question from a value creation and value capturing perspective, which allows us to re-interpret and reconcile the different views and empirically validate the resulting hypotheses. Using a database of the top 500 brands of established companies during the 2008-2015 period, we find that advertising spending has no significant impact on profitability, while both brand value and research and development (R&D) spending have a clearly positive effect. In addition, we observe a positive interaction effect between advertising spending and R&D spending and a negative interaction between brand value and R&D spending on profitability. These findings corroborate the view that advertising in and of itself does not improve profitability, rather, its effect is positive only when it acts in support of customer value creation as a result of R&D.
    • Is coaching een hype?

      De Stobbeleir, Katleen (HRWorld, 2010)
    • Is de CFO de Lucky Luke van de besluitvorming?

      Heyvaert, Carl-Erik; Decorte, Thomas; Stouthuysen, Kristof (FD Magazine, 2020)
      Data is vluchtig en bedrijven moeten sneller actie ondernemen om optimaal in te spelen op ontwikkelingen terwijl ze zich voordoen. De cfo kan de organisatie helpen sneller te handelen dan zijn schaduw.
    • Is design-manufacturing integration that important?

      Vandevelde, Anneke; Van Dierdonck, Roland; Clarysse, Bart; Debackere, Koenraad (2002)
      There is limited empirical evidence to support the importance of design-manufacturing (DM) integration on the performance of new product development projects. This article focuses on the impact of integration processes and their outcomes on multidimensional project performance. When considering integration as interaction processes, we find that the degree of interaction is positively correlated with respect for time and prestige. If one succeeds in smoothing the production start-up, which is an outcome of integration, a better respect for time, budget and technical specifications is realized. Finally, we provide some insights into the perceived room to improve integration. Even though perceptions do not always correspond with reality, it is interesting to examine them since product development decisions are often taken in response to an individual's perceptions (Kleinschmidt & Cooper, 1995).
    • Is destiny worth the distance? On private equity in emerging markets

      Darolles, Serge; Ain Tommar, Sara; Jurczenko, Emmanuel (2018)
      We study the performance determinants of private equity investing in emerging markets (EM) compared to developed markets (DM) using a novel dataset. Using a multilevel linear model specification, our results suggest that performance in emerging markets in highly dependent on geographical and cultural proximity. The effect is significantly higher for GPs investing in both markets compared to pure DM- and EM-players respectively. Cross-cultural and geographical effects are enhanced when the GP investment teams are also culturally close using different measures. Our results also show that the realized returns are highly dependent on the investment period, the investment style and the GP’s experience on each market.
    • Is een sterk merk ook sterk in werk?

      De Vos, Ans; Velghe, Dirk (2003)
    • Is gender stereotyping in advertising more prevalent in masculine countries? A cross-national analysis

      De Wulf, Kristof; Odekerken-Schröder, Gaby; Hofstee, Natascha (2003)
      The objective of this study is to test whether gender stereotyping in printed advertising is more prevalent in masculine as opposed to feminine countries. We consider this to be important, as advertising is generally more influential than literature in spreading stereotypical ideas given its high accessibility. Moreover, the way in which sexes are portrayed in advertising affects people's perceptions of gender roles in real life. Using content analysis, we collected empirical data on gender stereotyping of women depicted in 946 printed advertisements from two European countries widely differing in their level of masculinity, the UK and the Netherlands. The results indicate that a country's masculinity index is hardly related to the use of gender stereotyping in printed advertising, potentially implying that other factors underlie the use of gender stereotyping. Key words: Gender stereotyping, UK and the Netherlands, advertising, content analysis, masculinity index
    • Is Gender Stereotyping More Prevalent in Masculine Countries? A Cross-National Analysis

      Odekerken-Schröder, Gaby; De Wulf, Kristof; Hofstee, Natascha (International Marketing Review, 2002)
      The objective of this study is to test whether gender stereotyping in printed advertising is more prevalent in masculine as opposed to feminine countries. This is considered important, as advertising is generally more influential than literature in spreading stereotypical ideas, given its high accessibility. Moreover, the way in which sexes are portrayed in advertising affects people's perceptions of gender roles in real life. Using content analysis, we collected empirical data on gender stereotyping of women depicted in 946 printed advertisements from two European countries widely differing in their level of masculinity - the UK and the Netherlands. The results indicate that a country's masculinity index is hardly related to the use of gender stereotyping in printed advertising, potentially implying that other factors underlie the use of gender stereotyping.
    • Is it here where I belong? An integrative model of turnover intentions

      Boros, Smaranda; Curseu, Petru L . (Journal of Applied Social Psychology, 2013)
      We test a mediated moderation model in which the influence of organizational prestige and permeability on turnover intentions is mediated by organizational commitment and identification. We test this model in a 2 × 2 design in four Romanian organizations. Results support a partial mediation of identification between the considered organizational antecedents, and their interaction upon affective and continuance commitment, and a full mediation of commitment between identification and turnover intentions. Permeability moderates the impact of prestige upon identification and commitment. Finally, we draw conclusions about the mind‐sets behind identification, affective, and continuance commitment, and propose implications for future research and practitioners.
    • Is small still beautiful?

      Van den Berghe, Lutgart (1996)
    • Is the prevailing wholesale market design in Europe and North America comparable?

      Meeus, Leonardo; Belmans, Ronnie (2007)
      Confirmatory factor analyses within each sample showed the best fit to the data for a threefactor model underlying the CoSI. Measurement invariance tests, using multigroup confirmatory factor analysis, indicated that the relationships among the scale items were equivalent across cultures. Finally, in addition to traditional measurement equivalence tests, a nomological net has been investigated. A comparison of the correlations between cognitive styles and personality yielded partial measurement equivalence, with no significant differences between the two samples for 11 out of the 15 correlations. Overall, the study supports the cross-cultural validity of the CoSI, although further research in other international samples is particularly needed to strengthen these results.