Recent Submissions

  • Informal leader emergence in self-managing teams

    Desmet, Lien; De Stobbeleir, Katleen (2018)
  • 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.
  • Greenhouse gas reduction and fair gain sharing in trusted collaborative networks

    Oussoren, Biance; Inghels, Dirk; Dullaert, Wout; Van Steendam, Tom; Boute, Robert (2018)
  • 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.
  • Asymmetry of information and demand response incentives in energy markets

    Ramos, Ariana; De Jonghe, Cedric; Six, Daan; Belmans, Ronnie (2013)
    The price set in electricity markets is given by the intersection of supply and demand during a given time period. The demand-side has traditionally been a price taker while the supply-side actively adjusts the output of the market clearing unit to fluctuations in consumption. Currently, there is a transition toward active demand participation that can adequately respond to market conditions. However, private knowledge of demand adjustments, such as the impact of modifying behavior or the availability to do so, creates asymmetry of information between the active supply side and the passive demand. This paper proposes a revelation mechanism that will prompt the demand-side to choose the best option for themselves among a menu of incentives. Rational behavior of consumers implies that demand will only shift when the benefit of doing so is higher than the costs of modifying consumption patterns. Given differences among demand participants and the objectives of the market operator, an analysis of the rationale of each market agent shows the feasible options for demand incentives. This study enables the design of appropriate market mechanisms aimed to discover customer categories and determine the adequate incentives for each case.
  • Are governments stimulating the venture capital industry in Europe?

    Standaert, Thomas; Alperovych, Y.; Quas, A.; Manigart, Sophie (2018)
  • Are governments stimulating the venture capital industry in Europe?

    Standaert, Thomas; Alperovych, Y.; Quas, A.; Manigart, Sophie (2018)
  • Bank networks and buyout financing

    Manigart, Sophie; Divakaruni, Anantha; Alperovych, Y. (2018)
  • Birds of a feather flock together: Government investments in venture capital funds

    Standaert, Thomas; Alperovyck, Y.; Manigart, Sophie (2018)
  • The influence of assortment size on preference-consistent choice

    Elen, Maarten; Uyttersprot, Ineke; Geuens, Maggie; Vermeir, Iris (2011)
    Contrary to previously reported adverse effects of large assortments, we suggest that greater variety increases preference-consistent choice if the preferred alternative is accessible. Experimental data confirm that more respondents choose their most preferred alternative from stage one, in a choice task in stage 2, when the assortment was large versus small.
  • Investigating the strength of affectively and cognitively based attitudes

    Uyttersprot, Ineke; Vermeir, Iris; Geuens, Maggie (2011)
    Affectively based attitudes are often said to be stronger than cognitively based attitudes, supported by evidence indicating that affective attitudes are more accessible than cognitive attitudes. We argue that in terms of two other strength-related dimensions, certainty and knowledge, attitudes based on cognitive beliefs can be perceived as stronger than attitudes based on emotions.
  • Motivated consumer innovativeness: Concept, measurement and validation

    Vandecasteele, Bert; Geuens, Maggie (2011)
    dict consumers’ innovative buying behavior by means of different scales intended to measure innovativeness as a personality trait. However, most previous research disregards the consumer-product relation (Gatignon and Robertson 1985; Goldsmith and Flynn 1992) and ignores the different motivation sources. By constructing a new underlying goals and motivations for buying an innovation, we take the notion of product-consumer interactions in Consumer Innovativeness one step further: Consumers differ not only in level of innovativeness (i.e., personality trait of consumers) but also in type of innovativeness (i.e., motivations to buy the innovation).
  • UK and German supply chain practices – Survey results

    Szwejczewski, Marek; Goffin, Keith; Lemke, Fred; New, C.; Pfeiffer, Rolf; Lohmüller, B. (1999)
  • Supplier management in German manufacturing companies: An empirical investigation

    Szwejczewski, Marek; Goffin, Keith; Lemke, Fred; New, C.; Pfeiffer, Rolf; Lohmüller, B. (1999)

View more