Now showing items 1-20 of 6107

    • Determinants of job satisfaction in a lean environment

      Rodriguez, Denise; Van Landeghem, Hendrik; Lasio, Virginia; Buyens, Dirk (Emerald Publishing Limited, 2017)
      The purpose of this paper is to analyze the situational and dispositional determinants of job satisfaction in environments created by implementing employee-supportive lean. Design/methodology/approach The research uses a questionnaire to measure the determinants of job satisfaction (perceived job demands, perceived job autonomy and core self-evaluations) and job satisfaction. Afterwards, the paper proposes a conceptual framework and uses hierarchical multiple regression to test the relationships among perceived job demands, perceived job autonomy, core self-evaluations and job satisfaction. Additionally, the study describes the implementation of employee-supportive lean in four small companies using an action research approach. Findings The findings reveal that perceived job demands has a negative impact on job satisfaction. In addition, the authors find that perceived job autonomy and core self-evaluations have a positive impact on job satisfaction. Finally, the results show that core self-evaluations buffer the impact of perceived job demands on job satisfaction. Originality/value The present research underscores the importance of work and personal characteristics for employees’ job satisfaction in an environment created by implementing employee-supportive lean.
    • Hitting the right notes:Reactions to voice as a function of voice style and cultural beliefs

      Davidson, Tina; Wang, Xiao-Hua; Buyens, Dirk (2018)
      The present study takes a Chinese cultural perspective to address some of the current challenges in the realm of voice outcomes (e.g., types of voice consequences, tactics, and target characteristics) from a relatively novel angle. More specifically, we draw on self-presentation theory to examine when and why individuals react more or less positively toward change-oriented suggestions delivered in different self-presentational voice styles by their peers. Our selection and conceptualization of voice styles (self- promoting vs. self-effacing), outcome domains (behavioral and relational), and target characteristics (individual vs. group agency beliefs), capture the diversity of proto-typically Western and Chinese perspectives on these concepts. Results from a laboratory experiment provide general support for the proposed second-stage moderated mediation model, whereby the indirect effect of voice style via denigration of the voicing peer’s competence affects behavioral and relational outcomes, especially for those targets holding group agency beliefs. We discuss the implications of our findings for research on voice, culture, and self-presentation in general.
    • SMEs, foreign direct investment and financial constraints: The case of Belgium

      De Maeseneire, Wouter; Claeys, Tine (Elsevier, 2012)
      This paper explores the problems experienced by small and medium-sized enterprises (SMEs) with international ambitions in gaining access to debt and equity finance for foreign direct investment (FDI) projects. We develop several arguments for why such small businesses are expected to face severe financing constraints for foreign investments and provide an explorative empirical study with both the demand and supply side of FDI finance. We have interviewed thirty-two Belgian SMEs that carry out FDI, five banks and five venture capitalists. Based on the SME discussions, we have composed a questionnaire that was sent to the interviewed SMEs. The information problems and lack of collateral that often characterize international investment, the home bias of financiers and the capital gearing method used by banks to evaluate small firms’ foreign projects give rise to financial constraints for SMEs’ FDI projects. The reported finance gap hinders small firms’ (international) development and leads to suboptimal home and FDI host country development.
    • The three layers of strategy

      Verweire, Kurt; Peeters, Carine (2018)
      In the past, strategy was simple. You could identify a profitable industry, build a competitive advantage and then protect that advantage at all costs. But in today’s complex and turbulent world, traditional models don’t always apply. Rather than focus on building a sustainable advantage, today’s organisations need to be flexible and agile – ready to move rapidly from one advantage to the next. They need to experiment and innovate. And managers who want to build a sound business strategy need to think in the present, the near future and the further-away future – all at the same time. This white paper examines different theories of strategy and combines them into a new, single, integrated approach – the three layers of strategy.
    • 21st Century leadership through the batteries of change

      Letens, Geert; Verweire, Kurt; De Prins, Peter (ESTIEM, 2018)
    • The challenges of implementing strategy

      Verweire, Kurt (PM World, 2018)
      Strategy implementation is a hot topic today. Managers spend billions of dollars on consulting and training in the hope to create brilliant strategies. But all too often brilliant strategies do not translate into brilliant performance. Strategy implementation ranks high on top managers’ agendas but is a topic that has not received sufficient attention in the academic world. It seems like academics assume that if a firm has a strategy, it gets implemented automatically. But talk with managers and most will admit that their organization is experiencing significant problems with translating their strategy into concrete activities and results. Why do so many companies struggle with strategy implementation? And what can be done about it? In this article, I first present five root causes why strategy implementation is so hard. Some of these root causes deal with the quality of the strategy itself, the others deal with the topic of implementation. Then, I present a new model that tackles many of these issues. This model consists of three building blocks and is called the Strategy-Alignment-Commitment model. The article zooms in on each of the three building blocks and provides useful suggestions how to increase the success rate of your strategy implementation programs.
    • ING direct: Rebel in the banking industry

      Verweire, Kurt; Van den Berghe, Lutgart (Cengage Learning, 2007)
    • The challenges of implementing strategy

      Verweire, Kurt (Routledge, 2019)
      The book aims to provide those people and organisations who are involved with the development in project management with the kind of structured information that will inform their thinking, their practice and improve their decisions. In effect, it is new food for thought intented to invigorate and stimulate the journey of discovery.
    • Agency Costs, Reputation and Collaboration: Syndication in the UK Market for Private Equity

      Meuleman, Miguel; Wright, Mike; Manigart, Sophie; Lockett, Andy (2007)
      Syndicates are a form of inter-firm alliance in which two or more private equity firms co-invest in an investee firm and share a joint pay-off, and are an enduring feature of the private equity industry. This study examines the relationship between syndication and agency costs at the level of the investee, and the extent to which the reputation and social embeddedness of the lead investor mediates this relationship. We examine this relationships using a sample of 732 buyout investments by 64 private equity companies in the UK between 1993 and 2001. Our findings show that where agency costs are highest, and hence ex-post monitoring by the lead investor is more important, syndication is less likely to occur. The negative relationship between agency costs and syndication, however, is mediated by the reputation and social embeddedness of the lead investor firm. That is, the reputation and social embeddedness of the lead investor helps to alleviate the costs associated with a syndicate arrangement. The results further highlight potential problems of adverse selection in the market for syndication.
    • The implications of alternative investment vehicles for corporate governance: A survey of empirical research

      Wright, Mike; Burrows, Andrew; Ball, Rod; Scholes, Louise; Meuleman, Miguel; Amess, Kevin (OECD, 2007)
      This paper reviews the trends in and impacts of private equity and investor-led buy-outs in OECD countries. The evidence is derived principally from the CMBOR database and studies based on this dataset. Additional evidence is provided by a review of the relevant literature.
    • The impact of private-equity backed buyouts on employee relations

      Bacon, N.; Wright, M.; Scholes, L.; Meuleman, Miguel (European Venture Capital Association, 2008)
    • Evaluatie BAN Vlaanderen

      Meuleman, Miguel; Van den Berghe, Wouter (EWI, 2010)
      De notie “Business Angels” (verder meestal afgekort als BA) is ontstaan in de jaren ’90 als antwoord op de zogenaamde ‘equity gap’: het ontbreken van kapitaal voor startende ondernemers of jonge groeibedrijven met een behoefte aan risicokapitaal van enkele tienduizenden tot honderdduizenden euro.
    • Working with unfamiliar partners: Relational embeddedness and partner selection in private equity syndicates

      Meuleman, Miguel; Lockett, Andy; Wright, Michael (2006)
      While one stream of research in partner selection has emphasized stability in a firm's social network, another stream has emphasized the need to expand a firm's network. In order to reconcile these two perspectives, we explore transaction, partner and industry conditions that lead firms to work with unfamiliar partners. Using a unique hand-collected dataset, results from the formation of private equity investment syndicates demonstrate that firms are more likely to select unfamiliar partners for lower levels of primary and behavioral uncertainty and higher levels of competition. Our findings provide insights in conditions that lead firms to expand their social network.
    • The impact of competition on the selection and valuation of deals by private equity firms

      Meuleman, Miguel (2006)
      An important but largely neglected question in the literature on private equity investing is how the competitive environment shapes the behavior of private equity firms. In this study, we first explore whether competition has an impact on the role of previous industry knowledge for the generation of investment opportunities. Second, we study the impact of competition on the valuation of investment targets. Our hypotheses are tested on a unique hand-collected dataset of the UK buyout market. Using different measures of competition, our results show that increased competition has two opposing effects on the role of previous industry knowledge for the selection of investment opportunities. Further, increased competition leads to higher valuations of target firms.
    • Do institutions help venture capitalists trust new partners? Evidence from cross-border venture capital syndicates

      Meuleman, Miguel; Jääskeläinen, Mikko; Maula, Markku; Wright, Mike (2011)
      Venture capital (VC) has become an increasingly international phenomenon but there is a dearth of research that looks at the process by which VC firms co-invest across borders. We aim to fill this gap by examining drivers of cross-border partner selection decisions with a particular focus on the impact of experience-based trust on cross-border partner selection decisions in VC syndicates. Further, we examine how this relationship is moderated by different aspects of the institutional environment. We analyze these issues by studying the selection of foreign VC firms by local VC firms in cross-border VC syndicates in Europe over the period 1997 to 2008. The total sample consists of 1021 VC investments in which 391 different local VC investors invited 302 different foreign investors. Our results indicate that the effect of experience-based trust on partner selection is negatively moderated by the extent of generalized trust and the level of legal protection offered by the host country. The effect of experience-based trust on partner selection decisions is positively moderated by the level of cultural distance between the host country and the country of the foreign partner. Implications for theory and practice are suggested.