Now showing items 21-40 of 6261

    • Raising public awareness and trust in transmission infrastructure projects with incentive regulation: Tools and biases

      Bhagwat, Pradyumna; Keyaerts, Nico; Meeus, Leonardo (2018)
      Raising public awareness and trust in transmission infrastructure development is one of the key current challenges facing Transmission System Operators (TSOs) and other project developers. The result can be costly delays. Fine-tuning the regulatory toolbox that National Regulatory Authorities (NRAs) apply to incentivise TSOs can be part of the solution. The toolbox consists of cost-plus or rate of return regulation, price or revenue cap regulation, and output regulation. Each of these tools has strengths and limitations in terms of biases. In this brief, we identify the biases that are specific to stakeholder engagement activities that TSOs undertake to increase the public awareness and trust. Under the cost-plus approach, NRAs are biased towards the least controversial activity. Thus, the TSOs will try to anticipate the costs that will be more easily approved by the regulator. However, these least controversial activities may not be the most effective. Under the price/revenue cap, TSOs can be biased towards prioritising activities that result in the highest direct improvement of cost efficiency. They can also be biased in selecting the least controversial activities rather than the most cost-effective ones, simply because it can adversely affect their reputation and their engagement with the regulator. Under output regulation, independent experts can help the regulator to assess and challenge the stakeholder engagement activities undertaken by a TSO. This approach, however, requires a higher level of sophistication and complexity so that it can only be managed properly by a regulatory agency with sufficient resources and skills.
    • Wint ons leervermogen het van kennis en expertise?

      Vandenbroucke, Astrid; Vandenbroucke, Astrid (Editions NMG SPRL, 2018)
    • The influence of project resource allocation on the resource capacity of the business processes

      Vanacker, Laura; Van Raemdonck, Olivier; Servranckx, Tom; Vanhoucke, Mario; Vanacker, Laura; Van Raemdonck, Olivier; Servranckx, Tom; Vanhoucke, Mario (JMPM - Mundo Press, 2018)
      In small and medium enterprises, resources from within the company are often used to fulfill small-scale projects. This paper discusses the influence of project resource allocation on the operational workflow of small and medium enterprises based on a case study. More precisely, the capacity of certain business operations will be lowered due to the allocation of scarce resources to projects. Subsequently, this might result in a temporarily lower throughput in the business processes and thus a potential loss of profitability. As a result, project scheduling and resource management have a clear impact on the planning and execution of the daily operations. In case that the deterministic estimates of project durations and costs are used, without accounting for risk and uncertainty, project delays are highly likely. Given the relation between project and business resource allocation, project delays might lead to difficulties in meeting targets in the daily operations. This paper presents an approach to incorporate the above effect in the decision-making process of portfolio management, i.e. the choice to initiate a project given the negative impact on the business processes. The decision-making process that results from this fundamental trade-off is demonstrated using a real-life project, which could provide valuable insights to project managers in small and medium enterprises.
    • Dual sourcing and smoothing under non-stationary demand time series: Re-shoring with speedfactories

      Boute, Robert; Disney, Stephen M.; Van Mieghem, Jan A. (2019)
      We investigate the emerging trend of near-shoring a small part of the global production to local SpeedFactories. The short lead time of the responsive SpeedFactory reduces the risk of making large volumes in advance, yet it does not involve a complete re-shoring of demand. Using a break-even analysis we investigate the lead time, demand, and cost characteristics that make dual sourcing with a SpeedFactory desirable compared to complete off-shoring. We propose order rules that extend the celebrated inventory optimal order-up-to replenishment policy to settings where capacity costs exist and demonstrate their excellent performance. We highlight the significant impact of autocorrelated and non-stationary demand series, which are prevalent in practice yet challenging to analyze, on the economic benefit of re-shoring. Methodologically, we adopt Z-transforms and present exact analyses of several discrete-time linear production-inventory models.
    • Setting priorities in Healthcare. Investing in the right innovations at the right time

      Van Dyck, Walter; Verdonck, Pascal (2018)
      This white paper explores the current situation in the healthcare sector – and where it could be in the future. It outlines how we can make our health organisations more innovative – and crucially, how we can decide which ideas are worth investing in.
    • 10 tips for working successfully with a private equity investor

      Manigart, Sophie; Meuleman, Miguel (2018)
      Our research insights translated into added value for you and your organisation Research – either academic or research for business – can only be valuable when shared. That’s why we translate our research into easy-to-read whitepapers focusing on the key insights that are relevant for you as a manager. This way, your organisation can profit directly from the latest research, the newest theories, the expertise of our faculty and much more.
    • Digital strategy, the next level

      Muylle, Steve (2019)
      Digital Transformation is hot. In what way will digital developments contribute to the strategy and growth of your organisation? How do you develop digital challenges into digital success? In this white paper you will learn all about the core principles of a strong digital strategy. Are you ready to compete in a rapidly changing world? Read this white paper and tackle your organisational’s growth in a smart way.
    • Flexibel werken in ziekenhuizen: OM en HRM perspectief

      Schoonaert, Lies; Gemmel, Paul; Cardoen, Brecht (Vlerick Business School, 2018)
      Iedereen spreekt over “flexibel werken”, maar al snel blijkt dat dit een term is die vele interpretaties kent. Flexibiliteit wordt zo een verzamelnaam van variabele werkomstandigheden telkens met een ander doel indachtig. Het kan bekeken worden vanuit het standpunt van de werkgever en vanuit het standpunt van de werknemer. Een werkgever wil zijn personeel zo flexibel mogelijk kunnen inzetten om zo goed mogelijk aan de variabele vraag van zorg te kunnen voldoen. Een werknemer bekijkt hoe de job zo flexibel mogelijk kan worden ingevuld (tijd, plaats, inhoud) om leuk en uitdagend te zijn, en een ideale balans tussen het werk en het privéleven te creëren. In deze tekst geven we een overzicht van de verschillende types flexibiliteit die relevant zijn voor een ziekenhuis. Hierbij geven we ook een aantal voorbeelden hoe flexibiliteit vorm kan krijgen in de dagelijkse realiteit. We focussen ons voornamelijk op verpleegkundigen, maar veel aangehaalde vormen van flexibel werken kunnen ook van toepassing zijn op andere werknemers.
    • Unconventional monetary policy and bank risk taking

      Matthys, Thomas; Meuleman, Elien; Vander Vennet, Rudi (2018)
      In this paper we use corporate syndicated loan data to study the presence of a bank risk-taking channel of unconventional monetary policy in the United States over the period 2008-2015. To account for both actual policy decisions and anticipation effects, we measure the stance of monetary policy by estimating a financial VAR model. We find that accommodative monetary conditions are associated with overall lower loan spreads. Controlling for borrower creditworthiness, we show that the spread reduction is lower for riskier firms, indicating that risk is appropriately priced during the period of unconventional monetary policy. Banks with low non-performing loan ratios and banks characterized by high revenue diversification offer larger loan spread discounts compared to banks with a large amount of non-performing loans and banks with less income diversification. We also find that banks with low capital ratios, less profitable banks and smaller banks more aggressively reduce the corporate loan spreads following an expansionary monetary policy shock, but only for the safest firms. Our findings indicate that unconventional monetary policy actions of the Federal Reserve are not associated with excessive risk taking by banks in the syndicated loan market.
    • Targeted by an activist hedge fund, do the lenders care?

      Matthys, Thomas; Dahiya, Sandeep; Hallak, Issam (2018)
      Do banks worry about expropriation when an activist hedge fund targets their borrowers or are they reassured that their borrowers will perform better after such targeting? We study 1,435 events from 1996-2013 in which an activist targeted a US corporation to examine what happens to loan contract terms post-targeting. We find that banks charge a higher interest rate for loans made after the activist involvement compared to a matched sample of borrowers that were not targeted. However, we find that the initial stock price reaction to the announcement of an activist intervention is a strong predictor of post-target loan rates. Banks increase the loan rates for those targets that experience a strong positive stock price reaction. These findings suggest that banks adjust their loan pricing to reflect their concerns about wealth expropriation.
    • Targeted by an activist hedge fund, do the lenders care?

      Matthys, Thomas; Dahiya, Sandeep; Hallak, Issam (2018)
      Do banks worry about expropriation when an activist hedge fund targets their borrowers or are they reassured that their borrowers will perform better after such targeting? We study 1,435 events from 1996-2013 in which an activist targeted a US corporation to examine what happens to loan contract terms post-targeting. We find that banks charge a higher interest rate for loans made after the activist involvement compared to a matched sample of borrowers that were not targeted. However, we find that the initial stock price reaction to the announcement of an activist intervention is a strong predictor of post-target loan rates. Banks increase the loan rates for those targets that experience a strong positive stock price reaction. These findings suggest that banks adjust their loan pricing to reflect their concerns about wealth expropriation.
    • Targeted by an activist hedge fund, do the lenders care?

      Matthys, Thomas; Dahiya, Sandeep; Hallak, Issam (2018)
      Do banks worry about expropriation when an activist hedge fund targets their borrowers or are they reassured that their borrowers will perform better after such targeting? We study 1,435 events from 1996-2013 in which an activist targeted a US corporation to examine what happens to loan contract terms post-targeting. We find that banks charge a higher interest rate for loans made after the activist involvement compared to a matched sample of borrowers that were not targeted. However, we find that the initial stock price reaction to the announcement of an activist intervention is a strong predictor of post-target loan rates. Banks increase the loan rates for those targets that experience a strong positive stock price reaction. These findings suggest that banks adjust their loan pricing to reflect their concerns about wealth expropriation.
    • Synergy management services companies: A new business model for industrial park operators

      Siskos, Ioannis; Van Wassenhove, Luk N.; Siskos, Ioannis; Van Wassenhove, Luk N. (Wiley, 2017)
      The concept of industrial symbiosis (IS) was introduced decades ago and its environmental and economic benefits are well established, but the broad acceptance of IS still faces significant barriers. This article provides a new approach to capture synergies within industrial parks by suggesting a new business model. Building on findings from a survey conducted by the authors and on literature, we first identify potential barriers to low‐carbon synergistic projects. Economic concerns of technically feasible synergies and financial issues turn out to be the largest barriers, because of long payback periods and fluctuating raw material and by‐product market prices. Existing business models do not offer easy ways to overcome or relax these barriers. We therefore introduce the concept of a synergy management services company (SMSCO), a synergy contractor and third‐party financing model, to overcome these barriers. This model shifts the financial risk of the synergistic project from collaborating firms to the SMSCO. We posit that this attribute of the SMSCO model makes it attractive for industrial park operators who seek long‐term solutions to secure future viability of their park.
    • HR Barometer 2018. HRM trends and challenges in Belgian organisations

      Buyens, Dirk; Volckaert, Ellen (2018)
      The Belgian human resources departments are focused on attracting, developing and motivating talent once again this year. Recruitment and selection are number one here, followed by leadership development and talent management. Those are the results from the fourth annual HR Barometer study by HR consultancy firm Hudson and Vlerick Business School. HR analytics, however, has not really established itself yet. Although companies collect lots of data, those responsible for HR indicate that they are often not proficient enough in analysing it.
    • A study of the critical chain project management method applied to a multiproject system (Published Online)

      Eduardo Cooper Ordoñez, Robert; Vanhoucke, Mario; Coelho, José; Novaski, Olívio; Eduardo Cooper Ordoñez, Robert; Vanhoucke, Mario; Coelho, José; Novaski, Olívio (Sage, 2019)
      In 1997, Eliyahu Goldratt proposed a method called critical chain project management (CCPM) to minimize the inefficiencies identified in traditional project management. The project management community accepted the proposed method as a viable alternative. However, to allow its implementation with a multiproject system, more research was necessary. Seeking to identify the key factors that influence the performance of the multiproject system applying the CCPM method, we performed a case study. Logistic regression analysis showed that applying the CCPM method in a multiproject system allows for better time estimation of activities and facilitates the allocation of critical resources.
    • Planning projects with scarce resources: Yesterday, today and tomorrow’s research challenges

      Vanhoucke, Mario; Vanhoucke, Mario (Springer, 2018)
      This paper is an invited request to describe the main research challenges in the domain of resource-constrained project scheduling. The paper is split up in three parts. In today’s challenges, research endeavors that have received a significant, but still not enough, attention have been described. In tomorrow’s research challenges, some promising research avenues for future research have been given. Finally, in yesterday’s challenge, a research topic that started decades ago, is said to have still a huge potential in tomorrow’s research agenda. This paper does not intend to give a full literature overview, nor a summary of all possible research paths. Instead, it is inspired from the author’s experience in academic research and practical consultancy and it serves as a personal opinion on a non-exhaustive set of promising research avenues, rather than giving a full literature-based advice for future research directions.
    • Greenhouse gas reduction and fair gain sharing in trusted collaborative networks

      Oussoren, Biance; Inghels, Dirk; Dullaert, Wout; Van Steendam, Tom; Boute, Robert (2018)
    • Hospital of the future - The future of hospitals

      Cardoen, Brecht (2019)
      Het groenboek van Leuvens Instituut voor Gezondheidszorgbeleid (LIGB) van de KU Leuven en de Vlerick Business School biedt ondersteuning voor beleidskeuzes voor de rol en organisatie van het ziekenhuis van de toekomst. Het ziekenhuis van de toekomst moet een antwoord bieden op de meest prangende uitdagingen: intelligente integratie van technologie, de veranderende zorgvraag als gevolg van de vergrijzing, gepersonaliseerde zorg en schaarse financiële middelen. Het ziekenhuis wordt een onderdeel van een ziekenhuisnetwerk en neemt, in samenwerking met andere zorgverstrekkers, nog slechts een deel van het zorgpakket voor zijn rekening. Die veranderende rol heeft een impact op de infrastructuur die zal verschillen afhankelijk van de aangeboden zorgcomponenten. Bundeling van expertise in focused factories, technologische platformen en samenwerking voor logistiek en andere diensten is de toekomst. Opdat het ziekenhuis zijn toekomstige rol kan opnemen moet er werk worden gemaakt van een vlotte informatie-uitwisseling tussen alle betrokken partijen en moeten er juridische en financiële obstakels worden weggewerkt. Aandacht voor het welzijn van het zorgpersoneel is essentieel.
    • Smart city initiatives: Designing a project-level smart value assessment instrument

      Van den Bergh, Joachim; Dootson, Paula; Kowalkiewicz, Marek; Viaene, Stijn (2018)
      While the smart city gains global attention as a popular umbrella term for digitally enabled sustainable city development, city administrations are faced with the managerial challenge that comes with a strategic digital transformation. Smart city projects form the frontline of smart city strategies. In these smart projects, cities find a way to implement the principles of the smart city. Many of these are high-visibility projects with substantial budget implications, and therefore require scrutiny by means of a formal selection and evaluation process. In this research-in-progress paper we propose the outline for a project-level smart value assessment instrument. The instrument should serve at the same time as a tool for smart city managers to assess and plan upfront how a project will contribute to reach the city's smart city ambition, as well as a post factum evaluation. The conceptual instrument has been developed in action-design research mode in collaboration with practitioners in the city of Brisbane, Australia and is demonstrated by mapping four smart city initiatives in different international contexts.
    • Spillover effects of distribution grid tariffs in the internal electricity market: An argument for harmonization?

      Govaerts, Niels; Bruninx, Kenneth; Le Cadre, H.; Meeus, Leonardo; Delarue, Erik (2019)
      In many countries, distribution grid tariffs are being reformed to adapt to the new realities of an electricity system with distributed energy resources. In Europe, legislative proposals have been made to harmonize these reforms across country borders. Many stakeholders have argued that distribution tariffs are a local affair, while the EU institutions argued that there can be spillovers to other countries, which could justify a more harmonized approach. In this paper, we quantify these spillovers with a simplified numerical example to give an order of magnitude. We look at different scenarios, and find that the spillovers can be both negative and positive. We also illustrate that the relative size of the countries is an important driver for the significance of the effects. To be able to quantify these effects, we developed a long-run market equilibrium model that captures the wholesale market effects of distribution grid tariffs. The problem is formulated as a non-cooperative game involving consumers, generating companies and distribution system operators in a stylized electricity market.