Traditional analysis of distribution network tariff design assumes a lack of alternatives to grid connection for the fulfilment of consumers' electricity needs. This is radically changing with breakthroughs in two technologies: (1) Photovoltaics (PV) enable domestic and commercial consumers to self-produce energy; (2) Batteries allow consumers and self-producers to gain control over their grid energy and capacity parameters. Contributing to the state of the art, the grid cost recovery problem for the Distribution System Operator (DSO) is modelled as a non-cooperative game between consumers. In this game, the availability and costs of the two named technologies strategically interact with tariff structures. Four states of the world for user's access to technologies are distinguished and three tariff structures are evaluated. The assessed distribution network tariff structures are: energy volumetric charges with net-metering, energy volumetric charges for both injection and withdrawal, and capacity-based charges. Results show that in a state of the world with new technology choices for grid users both efficiency and equity issues can arise when distribution network charges are ill-designed.
Neckebrouck, Jeroen; Schulze, William; Zellweyer, Thomas (Academy of Management, 2018)
Family firms employ about 60 percent of the global workforce. While it is widely assumed that they are good employers, data about their conduct is mixed. In this study, we extend stewardship and agency theories to test competing propositions about the impact of family on employment practices using data from 14,961 private Belgian firms over a 19-year period. Higher investments, lower dividend payout, and higher risk tolerance indicate that family firms are better financial stewards of their companies than nonfamily firms. However, family firms are worse organizational stewards than nonfamily firms: They offer lower compensation, invest less in employee training, and exhibit higher voluntary turnover and lower labor productivity. Further, and contrary to earlier research, we find that financial practices in private family firms do not change over time, and that the deleterious influence of family on employment practices rises with both firm age and with heightened family involvement. Together, our findings suggest that a more nuanced understanding of stewardship and agency theory is needed to understand the impact of family on the governance of private firms.
Is corporate social responsibility (CSR) a tool for strategic positioning? While CSR is sometimes used as part of a differentiation strategy, this article analyzes which specific CSR strategies arise in response to competitive pressures. The results suggest that competitive pressures lead firms to increase their positive social actions without necessarily decreasing their social weaknesses. This positive impact varies with specific dimensions of CSR and industry specificities: (1) Competition improves social performance toward core stakeholders to a greater extent than social performance toward peripheral stakeholders. (2) This effect is more pronounced in B2C industries than in other industries. (3) Competition leads firms in “dirty” industries to ignore environmental initiatives.
Chief executive officer (CEO) commitment to the status quo (CSQ) is expected to play an important role in any firm’s strategic adaptation. CSQ is used often as an explanation for strategic change occurring after CEO succession: new CEOs are expected to reveal a lower CSQ than established CEOs. Although widely accepted in the literature, this relationship remains imputed but unobserved. We address this research gap and analyze whether new CEOs reveal lower CSQ than established CEOs. By analyzing the letters to the shareholders of German HDAX firms, we find empirical support for our hypothesis of a lower CSQ of newly appointed CEOs compared to established CEOs. However, our detailed analyses provide a differentiated picture. We find support for a lower CSQ of successors after a forced CEO turnover compared to successors after a voluntary turnover, which indicates an influence of the mandate for change on the CEO’s CSQ. However, against the widespread assumption, we do not find support for a lower CSQ of outside successors compared to inside successors, which calls for deeper analyses of the insiderness of new CEOs. Further, our supplementary analyses propose a revised tenure effect: the widely assumed relationship of an increase in CSQ when CEO tenure increases might be driven mainly by the event of CEO succession and may not universally and continuously increase over time, pointing to a “window of opportunity” to initiate strategic change shortly after the succession event. By analyzing the relationship between CEO succession and CEO CSQ, our results contribute to the CSQ literature and provide fruitful impulses for the CEO succession literature.
Hacklin, Fredrik; Björkdahl, Joakim; Wallin, Martin (2018)
This paper brings together firm-level research on business models and industry-level research on value migration to examine patterns of business model innovation. We draw on qualitative data from 14 cases and 68 interviews in the computer and telecommunications industries to demonstrate how business model innovation is sensitive to industry-wide forces of value migration. Based on our analysis we conclude that when value is rapidly migrating across industries and between firms, proactively substituting key elements of the primary business model provides a better fit with the new value landscape than launching secondary business models in parallel. We suggest four underlying mechanisms that link business model innovation, value migration and subsequent outcomes. Unpacking business model innovation allows us to discuss contingencies for the main business model strategies, specifically in terms of limitations to—and opportunities of—changing the primary business model and the practice of parallel business models
Slagmulder, Regine; Cumps, Bjorn; Dillen, Yannick (Henry Stewart Publications, 2018)
The payments industry is facing its most radical change in decades. This is due to at least four change drivers — increased regulation, changing customer behaviour, technological innovation and new entrants. The sector faces increased competition from large established tech companies and small FinTech start-ups that are moving into the payments space. Based on the authors’ work with companies in the financial services industry and expert interviews, this paper identifies two distinct types of trends: those enhancing the existing payments system and those trying to build a completely new system. It is clear that a lot of the innovations focus on disintermediating the incumbent organisations. But how can these organisations best address these changes? Building on previous research the authors discuss four crucial capabilities for incumbents to master in an increasingly turbulent environment like the payments sector — designing superior customer experiences, setting up data-driven infrastructures, building multiparty collaborations and providing platform-based solutions. It is impossible for organisations to
predict what will happen, but they will be better prepared for the road ahead by investing in
these four capabilities.
Based on responses from 158 reward managers located at the headquarters or subsidiaries of multinational enterprises, the present study examines the relationship between the centralization of reward management decision making and its perceived effectiveness in multinational enterprises. Our results show that headquarters managers perceive a centralized approach as being more effective, while for subsidiary managers this relationship is moderated by the manager’s role identity. Referring to social identity theory, the present study enriches the standardization versus localization debate through a new perspective focusing on psychological processes, thereby indicating the importance of in-group favoritism in headquarters and the influence of subsidiary managers’ role identities on reward management decision making.
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