• How Do Early Stage High Technology Investors Select Their Investments?

      Clarysse, Bart; Knockaert, Mirjam; Lockett, Andy (2005)
      This study examines the selection behaviour of 68 European early stage high tech VCs. In particular, we examine whether or not these VCs exhibit heterogeneity in their selection behaviour. To examine these issues we employ a conjoint analysis methodology. Our results indicate that VCs exhibit substantial heterogeneity in investment selection behaviour. Employing a cluster analysis three types of investors emerge: those who focus on technology, those who focus on finance and those who focus on people. We then examine the drivers of these differences, being the sectoral focus, the sources of funds and the human capital of the investment manager.
    • How the new economy is changing the financial services industry

      Van den Berghe, Lutgart; Verweire, Kurt; Roelandt, Peter (2001)
    • How to position yourself as a Fintech Ninja

      Holvoet, Tine (2018)
      Real change is not merely loading or updating, but upgrading financial services.
    • HR Barometer 2016. A survey of HR managers of the BEL20 and the 200 biggest Belgian companies

      Buyens, Dirk; Vandenbroucke, Astrid; Defever, Emmy; Volckaert, Ellen (2016)
      Key insights for you: Hudson and Vlerick Business School mapped the trends and challenges for HRM at leading Belgian companies by way of an HR Barometer. The main conclusions of the HR Barometer 2016 are: Leadership development remains top priority for HR departments. Talent management, the attraction, development and motivation of talent in the organisation is still ranked a clear second. The recruitment of older employees, foreign members of staff and people with disabilities is ,despite the social focus, not an objective in itself for HR departments.
    • HR Barometer 2017. HRM trends and challenges in Belgian organisations

      Defever, Emmy; Volckaert, Ellen; Buyens, Dirk; Trbovic, Nikola (2017)
      The HR barometer is a yearly initiative launched in January and involves two parts. The first part of the barometer focuses on the strategic importance of different HR practices and policies, so that over time, the shifts in these priorities can be explored. The second part examines a hot topic in HR. For this edition of the HR barometer, we look into the topic of HR impact on the organization. This report provides you with an overview of the most important findings of the study in 2017 and the shifts compared to 2016, based on a quantitative analysis of the HR priorities of leading Belgian organisations.
    • 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.
    • Human capital and the internationalization of venture capital firms

      Manigart, Sophie; Collewaert, Veroniek; Wright, Mike; Pruthi, S.; Lockett, Andy; Bruining, Hans; Hommel, Ulrich; Landström, Hans (2006)
      We examine the neglected area of internationalisation by VCs. Using a representative sample of 195 VCs, we show that the decision of a European VC firm to invest internationally is driven by its human resources. Having more VC executives in general and more VC executives with previous international experience in specific, results in a higher probability of investing internationally. In contrast, more VC executives with experience in the VC industry or with an engineering background lead to a higher probability of remaining domestic.
    • Human capital, social capital, and innovation: a multi-country study

      Dakhli, Mourad; De Clercq, Dirk (2003)
      We examine the effects of two forms of capital, i.e. human capital and social capital, on innovation at the country level. We use secondary data from the World Development Report on a country's overall human development to test for a relationship between human capital and innovation. We also use previous conceptualisations of social capital as comprising trust, associational activity, and norms of civic behaviour to test for relationships between these indicators of social capital and innovation using data from the World Values Survey. Unlike most previous studies that examined human and social capital within a given country, we develop and empirically test a theoretically grounded model that relates human and social capital to innovation at the societal level across 59 different countries, thus providing a more global view of the role of these two forms of capital in generating value. We find strong support for the positive relationship between human capital and innovation and partial support for the positive effect of trust and associational activity on innovation. However, contrary to our prediction, we find a negative relationship between norms of civic behaviour and one of our innovation measures. Keywords: social capital, human capital, innovation, cross-country comparison
    • 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 (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