• Identifying key determinants of effective boards of directors

      Levrau, Abigail; Van den Berghe, Lutgart (2007)
      Mainstream research on boards of directors has been focusing on a direct relationship between board characteristics and firm performance, but up till now the results are inconclusive. Although these studies revealed interesting and useful insights, little is known about the factors that shape board effectiveness. This paper aims to reduce this gap by exploring the variety of indicators that contribute to the effectiveness of boards. The paper derives from an interview-based investigation among 104 directors of Belgian listed companies. The findings are further elaborated with quantitative data from two written questionnaires, involving directors of non-listed companies and experts in the field of corporate governance. The results point to three major issues. First, there appears to be a gap between a limited number of structural board measures consistently found in literature and the systematic occurrence of a set of behavioural criteria of board effectiveness in the perceptions of (Belgian) directors. Second, the findings suggest that the value of independence may be overemphasized at the cost of the broader issue of diversity. Third, it appears that mainstream board research ignores to a large extent two additional conditions (the information flow and the leadership style of the chairman) under which a board of directors can make an effective contribution to the strategic direction and control of a company. Our findings suggest that the ambiguity found in current research evidence can to some extent be attributed to the ignorance of a wide range of interconnected structural (such as diversity and competence) and behavioural factors (such as trust, attitude, norms and conduct) which actually shape the effectiveness of boards in performing their roles.
    • Impact of coherent versus multiple identities on knowledge integration

      Willem, Annick; Scarbrough, Harry; Buelens, Marc (2007)
    • Implicit attitudes toward green consumer behavior

      Vantomme, D.; Geuens, Maggie; De Houwer, J.; De Pelsmacker, Patrick (Vlerick Business School, 2005)
      The purpose of this study was to examine the usefulness of implicit (automatic) attitudes to explain the weak attitude-behavior relationships often found in green consumer behavior research. Therefore, not only explicit but also implicit attitudes toward green consumer behavior were measured by means of the Implicit Association Test (IAT). Explicit measures revealed positive attitudes, while the IAT showed more positive attitudes toward the ecological than toward the traditional product (Experiment1) or no differences in these attitudes (Experiment 2 and follow-up study). When existing products were involved, implicit attitudes related to behavioral intention, even where the explicit attitude measure did not. 2005/30 - Explicit and implicit determinants of fair-trade buying behavior [DOWNLOAD]
    • Improving customer acquisition models by incorporating spatial autocorrelation at different levels of granularity

      Baecke, Philippe; Van den Poel, Dirk (2012)
      Several academic studies have been conducted to explore the link between taxes on tobacco products and consumption behavior, especially smoking cessation. While most research has been conducted by comparing static levels of taxation across states or countries, almost none have looked at the dynamic effects of taxes, let alone the context of a tax decrease that is non-homogeneous within a given country, alongside parallel phenomena such as resort to smuggling. Moreover, most research has failed to adopt a contingency framework taking into account potentially influent variables such as age and consumption levels. Using a unique dataset compiled by Statistics Canada, we estimate several models that explore consumers’ behavior towards cigarettes as taxes are rolled back, their resort to consuming smuggled products, as well as a range of individual factors that influence said behaviors. We show effects in the very short term - that is, right after taxes are decreased - and in the long term - that is, a little over one year after taxes have been rolled back. Our results suggest that consumption of smuggled cigarettes is directly and strongly linked to the level of taxes and that this behavior can be efficiently curbed by tax reduction. Tax cuts explain in the range of 17% a smoker’s decision to stop regularly consuming smuggled cigarettes. In addition, our results suggest that taxes themselves play a very limited role in explaining individuals’ propensity to quit or to start smoking, especially in comparison with age and current smoking levels. Our analyses show that, despite statistically significant effects attributable to the large sample size, the part of a smoker or non-smoker behavior that is explained by taxes is very small. In other words, while cigarette tax cuts do reduce propensity to quit or to remain a non-smoker, especially in the long run, they are responsible for about ½ of 1% of this decision. In comparison, models that take into account respondent age or, for smokers, the average number of cigarettes smoked daily, can explain in the order of 5% to 10% the variation in behavior - that is, 10 to 20 times as much as taxes only. These results suggest that, despite their statistically significant influence on smokers and non-smokers behavioral changes, tax cuts from an original level as high as $21 on a carton of 200 cigarettes are not key short-term and long-term behavioral change agents - that is, when taxes are that high, and in a context where about 20% of the population does smoke, tax cuts neither strongly induce non-smokers to start smoking nor strongly induce smokers not to quit smoking. However, they do, where smuggled products are readily available, strongly decrease smokers’ consumption of smuggled cigarettes. This should warrant further investigation of more effective means to curb smoking in this context, such as societal marketing efforts raising awareness of the short- and long-term health hazards associated with smoking
    • In search for the heffalump: An exploration of the cognitive style profiles among entrepreneurs

      Bouckenooghe, Dave; Van den Broeck, Herman; Cools, Eva; Vanderheyden, Karlien (2005)
      In this article we reopen the search for those features that distinguish entrepreneurs from non-entrepreneurs. Because the trait psychology approach failed to fulfill this promise the cognitive psychology approach was adopted. The exploration of cognitive styles among 497 entrepreneurs and 521 non-entrepreneurs in Flanders distinguishes six profiles: omnipotent thinkers, lazy thinkers, pacesetters, experts, inventors, and implementors. A comparison of both groups yields differences in the prevalence of inventors and implementors. We find significantly more inventors in the group of entrepreneurs and significantly more implementors in the group of non-entrepreneurs. Finally, the results of this study also indicate that entrepreneurs may differ in the cognitive style profiles they hold. Keywords: cognitive styles, entrepreneurs, non-entrepreneurs, cluster analysis
    • Including spatial interdependence in customer acquisition models: a cross-categroy comparison

      Baecke, Philippe; Van den Poel, Dirk (2012)
      Business–IT alignment has been consistently ranked as the number one concern of IT and business executives. Maintaining the alignment has been found to lead to stronger business performance, higher perceived value of IT and improved IS strategic planning, therefore addressing the issue is both important and timely. The economic growth in China in the last decade has led to greater availability of IT and its widespread use as a critical resource. Despite the increasing interest in Chinese IS issues by both researchers and practitioners, empirical research focusing on human- and organization-related IS issues in China is scarce. Using data collected from 130 business and IT executives from 22 companies in China, 11 of which were multinationals operating in China, we explored several questions in the area of business–IT alignment. An instrument designed to measure the six dimensions of business–IT alignment maturity was cross-validated using a sample of companies in China. Then, the instrument was refined to develop a measurement method that offered better reliability and validity in the context of Chinese companies. The relationship between the alignment maturity dimensions and IS strategic alignment was then examined. Finally, the alignment maturity of companies in China was assessed to provide a snapshot of business–IT alignment in China. A comparison between the 11 Chinese domestic companies and 11 multinational operating in China provided insight into the different IT practices of the two types of companies. Implications for researchers and practitioners are discussed.
    • Individual and organizational facets of change in the public and private sector: a comparative study

      Bouckenooghe, Dave; Devos, Geert (2006)
      This study compares individual (i.e., readiness to change and locus of control) and organizational aspects of change (i.e., participation in decision making and risk-taking reward orientation) in Belgian public and private sector organizations. This empirical research is based on perceptions of 930 managers and 629 employees collected through a questionnaire survey from a variety of public (n = 35) and private sector organizations (n = 21). In total 1,559 responses were collected from the private (n = 827) and the public sector (n = 732). The hypotheses tested were that, in the public sector people report (a) a lower level of readiness to change (i.e., emotional involvement and commitment to change), (b) a lower level of internal locus of control, (c) a lower risk-taking reward orientation, and (d) a higher level of participation in decision-making in comparison to the private sector. Two-way analyses of variance, private versus public and managerial versus non-managerial position of respondents, were performed. Results yielded significant main effects for sector on locus of control, risk-taking reward orientation and readiness to change, and contribute to the debate on similarities and differences between public and private sector management. Some main effects can not be interpreted in a straightforward manner, since significant interaction effects were observed between sector and hierarchical position for locus of control, risk-taking reward orientation, commitment to change, and emotional involvement. In brief, the hierarchical position of respondents is an important moderator variable that helps to explain differences between both sectors. To conclude, the findings of this inquiry have noteworthy theoretical and managerial implications that are discussed throughout this paper. Key words: readiness to change, locus of control, participation in decision making, risk-taking reward orientation, public and private sector comparison.
    • Individual differences in cognitive styles: Development, validation and cross-validation of the Cognitive Style Inventory

      Van den Broeck, Herman; Vanderheyden, Karlien; Cools, Eva (Vlerick Business School, 2003)
      This paper aims to describe the construction and validation of a new instrument for measuring cognitive styles - the Cognitive Style Inventory (CoSI) - that is particularly useful in an organizational context. Three successive studies are conducted to validate and cross-validate the Cognitive Style Inventory. The internal consistency of the Cognitive Style Inventory is high. Factor analyses confirm the existence of four different cognitive styles. To examine convergent and discriminant validity, the following measures are used: the Myers-Briggs Type Indicator (MBTI), the Life Orientation Test (LOT), and a Likert-scale version of Rotter's Internal-External (I-E) locus of control scale. Substantial support is found for the instrument's convergent and discriminant validity. Future research and practical implications are discussed.
    • Individual differences in management education: an international inquiry about their impact on learning outcomes

      Cools, Eva; Deprez, Jana; Vanderheyden, Karlien; Bellens, Kim; Backhaus, Kristin; Bouckenooghe, Dave (2011)
    • Information seeking about the psychological contract: the impact on newcomers' evaluations of their employment relationship

      De Vos, Ans; Buyens, Dirk (Vlerick Business School, 2004)
      Both socialization and psychological contract literature demonstrate that the first months of employment are critical for the development of a positive psychological contract with organizational newcomers (e.g. Bauer et al., 1994, Robinson et al., 1994, Thomas & Anderson, 1998). For this reason, it is the objective of this study to explicate newcomers' psychological contract perceptions and evaluations during the socialization process, using information seeking as the central antecedent variable. Based upon socialization and psychological contract literature, hypotheses are formulated that address the relationship between newcomer information seeking and (1) changes in newcomers' perceptions of promises exchanged with their employer, and (2) newcomers' evaluations of their employment relationship one year after entry. To test our hypotheses, a four-wave longitudinal survey among 333 newcomers has been conducted, covering the first year of their new employment relationship. These newcomers, all white-collar level, belonged to six large organizations located in Belgium. Data collections took place at four moments: (T1) at entry, (T2) three months after entry, (T3) six months after entry, and (T4) one year after entry. Results suggest that during the socialization process newcomers change their perceptions of promises but that, contrary to our expectations, these changes are not related to their information-seeking behaviors. On the other hand, and in line with our hypotheses, the frequency of contract-related information seeking during the socialization process significantly affects newcomers' evaluations of their employment relationship one year after entry. Newcomers who engage more frequently in information seeking make up a more positive evaluation of psychological contract fulfillment and they are also more satisfied with their employment relationship in general. Our findings are discussed in view of the available literature on newcomer socialization and psychological contract development and implications for theories on psychological contract development are drawn.
    • Initial resources and market strategy to create high growth firms

      Clarysse, Bart; Heirman, Ans (Vlaamse Overheid - Dep. EWI, 2004)
    • Initial returns: underpricing or overevaluation? Evidence from easdaq and euronm

      Manigart, Sophie; De Maeseneire, Wouter (Vlerick Business School, 2003)
      This paper investigates initial returns of Easdaq and EuroNM IPOs and explains part of these returns. Average first day return of 300 IPOs introduced before October 1, 1999, is 36.01 %. The most significant explanatory variable is the mean return of previous IPOs, indicating that high initial returns are caused by too high first trading prices due to investor overreaction and positive market sentiment. Riskier IPOs present substantially higher initial returns. Venture capitalists are not able to significantly reduce initial returns, nor does size of the IPO influence initial returns. Our results indicate that high initial returns are caused by underpricing as well as overvaluation. Keywords: underpricing, investor sentiment, IPOs, initial returns
    • Innovation and Internationalization by Indian Firms: Evolutionary Paths since 1990s

      Prabhu, Jaideep; Celly, Nikhil; Subramanian, Venkat (2012)
    • Institutional change and resource endowments to science-based entrepreneurial firms

      Moray, Nathalie; Clarysse, Bart (Vlerick Business School, 2005)
    • Institutional change and resource endowments to science-based entrepreneurial firms

      Moray, Nathalie; Clarysse, Bart (UGent, Fac. Economie & Bedrijfskunde, 2005)
    • Institutional change and the resources endowed to spin off projects: the case of IMEC

      Moray, Nathalie; Clarysse, Bart (Vlerick Business School, 2004)
      This study takes an institutional perspective on spinning off ventures as a venue for commercialising research. The central question dealt with is the following: are the resource endowments of spin-outs at time of founding influenced by the way in which the overall technology transfer process is organised at the parent organisation? We have selected a research institute known for its international research excellence and with a track record in spinning off ventures: IMEC (Leuven, Belgium). We questioned all senior managers involved in technology transfer and the founders of the academic ventures set up between 1987 - 2002. The basic argument of the research is that changes in the internal institutional environment -- and the spin out policy in particular -- co-evolve with a changing overall tendency in the amount of resources endowed to the academic ventures. More specifically, we identify three generations of academic ventures displaying the main organisational changes in technology transfer policies pertaining to spin off companies. Keywords: Spin outs, Public Research Institute, Technology Transfer