• EU 2050 low-carbon energy future: visions and strategies

      Meeus, Leonardo; Azevedo, Isabel; Marcantonini, Claudio; Glachant, Jean-Michel; Hafner, Manfred (Florence School of Regulation, 2011)
      Other working paper not VBS
    • European integration: the third step

      Bowen, Harry; Sleuwaegen, Leo (Vlerick Business School, 2004)
      A perception of declining EU competitiveness has intensified calls for structural reforms within the EU. This paper examines recent evidence on changes in relative EU competitiveness and considers the observed changes in relation to the evolving competitive environment facing EU firms during the past two decades. Our analysis suggests that recent declines in EU competitiveness reflect an adjustment (or lack thereof) within the EU in response to an evolutionary “Third Step” in the process of EU integration: global market integration. We find that, starting from the mid-1990s, the EU began to face unprecedented increases in external sources of competition. The rising competition from external sources has created pressures for EU firms to alter their organizational and product market strategies to meet the challenge of a globally integrating market. While many leading EU firms are found to have responded to this challenge, EU firms remain hampered by anachronistic EU product and labor market regulations. The growing calls for structural reform therefore reflect the increased external competitive pressure on EU firms as they attempt to respond to growing global competition and to thereby strengthen their global competitiveness. JEL Classification: D21, F02, F23, L10, O40 Keywords: Competitiveness, European Integration, Foreign Competition, Globalization.
    • Evaluation of age-related labels by senior citizens

      Weijters, Bert; Geuens, Maggie (Vlerick Business School, 2002)
      The age-related labels ‘50+,' ‘senior'and ‘retired' are evaluated by a 45+ sample. Results show the appreciation of the terms increases upon entering the 50+ / senior / retirement group and keeps on increasing with age once the treshold age is crossed. The findings that label evaluations are generally positive and that 65 years is the mode of indicated treshold age for senior citizenship lead to an alternative interpretation of previous research (Tepper, 1994): people under 65 might consider being labeled ‘senior' undesirable because it is deviant from normality rather than because of the negativity of the label as such. Keywords: senior, 50+, age labels, marketing communications
    • Evidence and implications of zipf's law for integrated economies

      Bowen, Harry; Munandar, Haris; Viaene, Jean-Marie (2006)
      This paper considers the distribution of output and productive factors among members of a fully integrated economy (FIE) in which there is free mobility of goods and factors among members and whose members share the same technology. We first demonstrate that, within an FIE, each member's share of total FIE output and its shares of total FIE stocks of productive factors will be equal. If economic policies are largely harmonized across FIE members then this “equal-share” property implies that the growth in any member's shares of FIE output and factor stocks can be taken to be a random outcome. Building on Gabaix's (1999) result for the distribution of city sizes we argue that, if output and factor shares among FIE members evolve as geometric Brownian motion with a lower bound, then the limiting distribution of these shares will exhibit Zipf's law. We empirically examine for Zipf's law for the distribution of output and factor shares across two (presumably) integrated economies: the 51 U.S. states and 14 European Union (E.U.) countries. Our empirical findings strongly support Zipf's law with respect to the distribution of output, physical capital and human capital among U.S. states and among E.U. countries. These findings imply that models used to characterize the growth of members within an FIE should embody a key assumption: that the underlying growth process of shares is random and homogeneous across FIE members. JEL Classification: E13, F15, F21, F22, O57 Keywords: growth, economic integration, Zipf's law.
    • Exit in globalising industries: the role of international (out)sourcing

      Coucke, Kristien; Sleuwaegen, Leo (2006)
      This paper studies the impact of globalisation on the exit behaviour of domestic and foreign firms in the manufacturing industries of Belgium, one of the most open economies in the world. The strongest effects are found to come from rising import growth and rising multinational firms penetration of the industry, which systematically increase the probability of exit of (inefficient) domestic firms. Product differentiation and international (out)sourcing moderate this impact and lower the risk of exit. Controlling for productivity differences across firms, exporting on itself does not lower the probability of exit. Subsidiaries of multinational firms are found to be subject to similar disciplinary forces from import competition as domestic firms but do not show exit to respond to the same passive learning process. Keywords: Exit, Sourcing, International Competition
    • Explaining company-level influences on individual career choices: towards a transitional career pattern? evidence from belgium

      Soens, Nele; De Vos, Ans; Buyens, Dirk (2006)
      Although current career literature continues to build on the new career concepts that reflect a shift from ‘traditional' towards ‘transitional' career patterns, recent research presents a different reality. In Belgium, among other countries, the traditional career pattern remains the dominant picture on the labour market. This study seeks to explain this discrepancy between theory and practice by focussing on the meso-organizational influences on career choices of individuals. Drawing on Schmid's model of a transitional labour market, this qualitative empirical research explores the factors at company level that individuals point to as obstructing or facilitating career transitions. Results show that the existence of obstructing determinants at company level is one of the reasons why the ‘transitional career' hasn't become reality on the Belgian labour market yet. Implications for practitioners and policy makers are discussed.
    • Explicit and implicit determinants of fair-trade buying behavior

      Vantomme, D.; Geuens, Maggie; De Houwer, J.; De Pelsmacker, Patrick (Vlerick Business School, 2005)
      We examined the usefulness of an implicit attitude measure (IAT) to explain the weak attitude-behavior relationships often found in research about ethical consumer behavior. The results indicated that the IAT effects for buyers and non-buyers of Fair Trade products were significantly different, showing that the IAT can be used to differentiate between buyers and non-buyers. Further, the authors conclude that the IAT has unique predictive validity and that most importantly implicit attitudes need to be enhanced to raise ethical consumer behavior.
    • Exploring the bullwhip effect by means of spreadsheet simulation

      Boute, Robert (2007)
      An important supply chain research problem is the bullwhip effect: demand fluctuations increase as one moves up the supply chain from retailer to manufacturer. It has been recognized that demand forecasting and ordering policies are two of the key causes of the bullwhip effect. In this paper we present a spreadsheet application, which explores a series of replenishment policies and forecasting techniques under different demand patterns. It illustrates how tuning the parameters of the replenishment policy induces or reduces the bullwhip effect. Moreover, we demonstrate how bullwhip reduction (order variability dampening) may have an adverse impact on inventory holdings. Indeed, order smoothing may increase inventory fluctuations resulting in poorer customer service. As such, the spreadsheets can be used as an educational tool to gain a clear insight into the use or abuse of inventory control policies and improper forecasting in relation to the bullwhip effect and customer service. Keywords: Bullwhip effect, forecasting techniques, replenishment rules, inventory fluctuations, spreadsheet simulation
    • Failure prediction models from different countries : empirical testing on Belgian companies and possible explanations

      Ooghe, Hubert; Camerlynck, Jan; Balcaen, Sofie (UGent, Fac. Economie & Bedrijfskunde, 2001)
    • Failure processes and causes of company bankruptcy: a typology

      Ooghe, Hubert; De Prijcker, Sofie (2006)
      This paper describes a typology of failure processes within companies. Based on case studies and considering companies' ages and management characteristics, we discovered four types of failure processes. The first failure process describes the deterioration of unsuccessful start-up companies leaded by a management with a serious deficiency in managerial and industry- related experience. The second process reveals the failure process of ambitious growth companies. Those companies have, after a failed investment, insufficient financial means to adjust their way of doing business to the changes in the environment in order to prevent bankruptcy. Third, we describe the failure process of dazzled growth companies, leaded by an overconfident management without a realistic view on the company's financial situation. Lastly, the failure process of apathetic established companies, describes the gradual deterioration of established companies where management had lost touch with the changing environment. We also found that there is a great difference in the presence and importance of specific causes of bankruptcy between the distinctive failure processes . Errors made by management, errors in corporate policy and changes in the general and immediate environments differ considerably between each of the four failure processes.
    • Fairness in Strategy: A Fair Process Evaluation of Strategy Schools

      Tackx, Koen; Van der Heyden, Ludo; Verdin, Paul (2016)
    • Financial and investment interdependencies in unquoted Belgian companies: the role of venture capital

      Manigart, Sophie; Baeyens, Katleen; Verschueren, I. (2002)
      Fortis, the leading Benelux financial group, had been a success story of successive mergers of bank and insurance companies, with leadership in corporate social responsibility (CSR). One year after the acquisition of the major Dutch financial conglomerate ABN AMRO, the global financial crisis caused the collapse of the Fortis group. The purpose of this article is to use the case study of Fortis’s recent fall as a basis for reflective considerations on the financial crisis, from stakeholder and ethical perspectives. A selected number of key events of the history of the dramatic crisis at Fortis will be analysed from different ethical frameworks. Special consideration will be given to fairness of communication, shareholder activism and conflicts of interests of CEO’s mergers opportunities. A confrontation between the CSR policy and the reality raises the fundamental questions why the powerful CSR guidelines and ethical principles did not help in the assessment of the risks.
    • Financial reporting quality in private equity backed companies: the impact of ownership concentration

      Beuselinck, Christof; Manigart, Sophie (Vlerick Business SchoolVlerick Business School, 20052005)
      We argue and empirically show on a sample of 270 unquoted, private equity backed companies that the shareholder structure of private companies influences the quality of their accounting information. We show that companies in which private equity (PE) investors have a higher equity stake produce accounting information that is of lower quality than companies in which PE investors have a lower equity stake, controlling for company size and age. We argue that this is evidence that a large equity stake is a substitute for high earnings quality.
    • Firm resources: a double-edged sword? Resources as enablers and inhibitors of competitive responsiveness

      Debruyne, Marion; Frambach, Ruud; Moenaert, Rudy (2006)
      We show that resources possess a dual, and opposing, role in influencing competitive responsiveness. On the hand, resources enhance decision-makers' belief that they are able to respond effectively to competitive attacks, but the presence of resources also makes them less motivated to respond. We demonstrate the key role competitor orientation plays in this process and formulate managerial implications from that. Keywords: new product introductions, competitive reaction, managerial assessment