• An electromagnetism Meta-heuristic for the resource-constrained project scheduling problem

      Debels, Dieter; Vanhoucke, Mario (Vlerick Business School, 2005)
      Recently, a new heuristic algorithm for global optimization has been proposed by Birbil and Fang (2003), referred to as Electromagnetism (EM). This technique is based on the electromagnetism theory of physics, and simulates attraction and repulsion of sample points in order to move towards an optimal solution. In this paper, we have extended the EM methodology for combinatorial optimization problems. To that purpose, we use the EM framework for solving the well-known resource-constrained project scheduling problem (RCPSP) heuristically. We rely on problem-specific characteristics to adapt the original EM framework to the problem under study. We present computational experiments on a standard benchmark dataset, compare the results of the different modifications on the original EM framework with current state-of-the-art heuristics, and show that the procedure is capable of producing consistently good results for challenging instances of the resource-constrained project scheduling problem. We also give directions for future research in order to make the EM framework competitive with the current state-of-the-art heuristics. Keywords: electromagnetism, meta-heuristics, resource-constrained project scheduling
    • An empirical analysis of asset-backed securitization

      Vink, Dennis; Thibeault, André (2008)
    • An empirical examination of financial reporting lags among small firms

      Van Caneghem, Tom; Van Uytbergen, Steve; Luypaert, Mathieu
      This paper studies how the presence of cross-border as opposed to domestic venture capital investors is associated with the growth of portfolio companies. For this purpose, we use a longitudinal research design and track sales, total assets and payroll expenses in 761 European technology companies from the year of initial venture capital investment up to seven years thereafter. Findings demonstrate how companies initially backed by domestic venture capital investors exhibit higher growth in the short term compared to companies backed by cross-border investors. In the medium term, companies initially backed by cross-border venture capital investors exhibit higher growth compared to companies backed by domestic investors. Finally, companies that are initially funded by a syndicate comprising both domestic and cross-border venture capital investors exhibit the highest growth. Overall, this study provides a more fine-grained understanding of the role that domestic and cross-border venture capital investors can play as their portfolio companies grow and thereby require different resources or capabilities over time.
    • 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
    • An exploratory study on principals' conceptions about their role as school leaders

      Bouckenooghe, Dave; Devos, Geert (2007)
      This inquiry, by means of the case study method, explored how the conceptions of principals about their role of school leader contribute to a better understanding of their behavior and the impact on school climate. The results showed that differences of how principals conceive their role as a leader affect indirectly through their leadership practices (i.e. initiating structure and supportive leadership), the unity in vision, collegial relations, collaboration, innovativeness and satisfaction of teachers. Based on a content analysis of interviews with 46 Belgian school leaders we distinguished three profiles: (1) the ‘people minded profile' with an emphasis on people, educational matters and thus on creating a professional teaching community, (2) the ‘administrative minded profile' with the focus on paperwork and the implementation of formal procedures and rules, and (3) the ‘moderate minded profile' with no explicit preference for people, educational or administrative matters. Drawing on three prototypical cases we described in depth that these types of principals often work under different school climate conditions. We relied on semi-structured interviews to gather data on principals' thoughts about their role as school leaders. Also, survey questionnaires were administered among 700 teachers in 46 schools to assess several features of school climate (i.e. goal orientedness, participation, formal and informal relationships, innovativeness), satisfaction of teachers, and leadership role behavior (i.e. initiating structure and supportive leadership behavior).
    • An inquiry on the relationship between self-other agreement on supervisor's transformational leadership and subordinates' assessment of supervisor's performance

      Ertürk, Alper; Verbrigghe, Jasmijn; Van den Broeck, Herman (2013)
      Given the importance of the extent to which supervisors and their subordinates agree in their assessment of supervisors' leadership, this study investigates the possible relationship between self-other agreement on supervisors' transformational leadership and subordinates' perceptions of supervisors' in-role and extra-role performance, through the mediating role of leader member exchange. Self-other agreement was conceptualized as the degree of congruence between supervisors' self-assessment and subordinates' assessment of supervisors' transformational leadership. Data were collected from 36 supervisors and 189 of their subordinates. Statistical analyses revealed that self-other agreement on vision and individual support are positively associated with subordinates' perception of leader member exchange, and in turn leader member fully mediates the relationship between self-other agreement and subordinates' perceptions regarding their supervisors' performance. Additionally, results from polynomial analyses indicate that subordinates' ratings of LMX would be higher for in-agreement/good and underestimator supervisors, and would be lower for in-agreement/poor and overestimator supervisors. Some managerial implications are also discussed.
    • Antecedents and consequences of performance management enactment by front line managers

      Dewettinck, Koen; Vroonen, Wim (Vlerick Business School, 2013)
    • Antecedents of task conflict in the entrepreneur-investor relationship: an effectuation perspective

      Appelhoff, Daniel; Mauer, René; Collewaert, Veroniek; Brettel, M. (2012)
      Survey data from 175 entrepreneurs confirm the theory of planned behavior as an appropriate
    • Are acquisitions worthwile? An empirical study of the post-acquisition performance of privately held Belgian companies involved in take-overs

      De Langhe, Tine; Ooghe, Hubert (Vlerick Business School, 2001)
      Few studies have addressed the performance of smaller unquoted companies involved in take-overs, especially in the Continental European countries. Therefore this study addresses the post-take-over financial characteristics of privately held companies involved in 143 Belgian take-overs between 1992 and 1994. Specifically, this paper examines the financial performance of the acquiring firm after the take-over, using statistical analysis of industry-adjusted variables. Our findings show that following the take-over, the profitability, the solvency and the liquidity of most of the combined companies decline. This decline is also reflected in the failure prediction scores. With respect to the added value, take-overs are found to be accompanied by increases in the labour productivity, caused by the general improvement of gross added value per employee of Belgian companies in the last ten years and partly caused by laying off the target's workers. So it seems that, contrary to the general expectations and beliefs, take-overs usually do not seem to improve the acquirer's financial performance.
    • Are biotech investments different? The perspective of the Venture Capitalist

      Manigart, Sophie; Baeyens, Katleen; Vanacker, Tom (Vlaamse Overheid - Dep. EWI, 2004)
    • Assessing the impact of offline url advertising

      Geuens, Maggie; Vantomme, D.; Weijters, Bert; Goessaert, Geert (Vlerick Business School, 2003)
      To examine the impact of offline URL advertising, a quantitative study among internet users and non-users is carried out. For internet users, the results reveal a significant impact on each level of the hierarchy of effects. Respondents remembering an offline URL ad are more aware and have a higher knowledge of the site, show a more positive attitude towards the site, and indicate a higher intention to visit/revisit the site. Remarkably, offline URL advertising not only is able to attract internet users to the site the first time, but also to generate an impact over and above site experience by increasing the likelihood of revisiting the site. For internet non-users, offline URL advertising is significantly less effective.
    • Assessment of cost-benefit analysis for offshore electricity infrastructure development

      Bhagwat, Pradyumna; Schittekatte, Tim; Keyaerts, Nico; Meeus, Leonardo (2017)
      The application of cost-benefit analysis (CBA) for offshore electricity infrastructure projects with a pan-European impact is discussed. An analytical framework for the evaluation of CBA methodologies is presented. The framework is then applied to assess the CBAs of three offshore infrastructure projects (EWIC, COBRAcable and ISLES). Overall, the CBAs assessed already comply with several dimensions of the analytical framework. However, based on this assessment it is found that scope for improvement in quality exists in three areas namely, in considering project interactions, in dealing with uncertainty and in making the results between CBAs comparable by ensuring full monetisation. Furthermore, the research also confirms the view that a common harmonised CBA methodology is essential for selection of PCIs.