Now showing items 21-40 of 6301

    • Zo worden overheidsinvesteringen een succes

      Manigart, Sophie; Standaert, Thomas (Nive, 2019)
      Overheden kunnen met investeringen het verschil maken voor bedrijven met groeipotentie, betogen Sophie Manigart en Thomas Standaert van Vlerick Business School. Zij ontleden vier modellen voor overheidsinvesteringen en pleiten voor een proactieve overheid met een hands-off-mentaliteit.
    • Macroenvironmental dynamism and firm risk management - An exploratory investigation

      Klein, Florian; Puck, Jonas; Weiss, Martin (Emerald Publishing Limited, 2019)
      The macroenvironment constitutes a widely acknowledged source of firms’risk in international business. A substantial body of research on macroenvironmental risks encapsulates a variety of measurement approaches, antecedents,and managerial consequences. However, a review of established macroenvironmental risk measures reveals that these measures strongly focus on the quality of the macroenvironment, assuming a rather static perspective and mainly excluding dynamic aspects. Building on prior research on macroenvironmental risk as well as on environmental dynamism, we argue that macroenvironmental dynamism – i.e. the frequency, intensity, and predictability of macroenvironmental variation – is a pivotal source of risk in international business, which so far only received limited attention. Moreover, we suggest that macroenvironmental dynamism influences firms’ risk management activities, a measure we use to empirically investigate firm implications of macroenvironmental dynamism. We explore this effect using primary survey data on risk management activities from 158 foreign subsidiaries in six emerging countries and secondary data on the macroeconomic context in these countries. We find evidence that macroenvironmental dynamism, if compared to macroenvironmental quality, exerts a strong influence on firms’ risk management activities. Our findings enhance the understanding of the dynamic nature of macroenvironmental risk in international business as well as provide a concept to more comprehensively measure macroenvironmental dynamism that future research can build upon.
    • Book highlight - Setting a clear strategic direction

      Verweire, Kurt; Letens, Geert; De Prins, Peter (Wiley, 2019)
      It is important to have an inspiring change vision, an ambition to create a future that is better than what exists now. It is equally important to translate that aspiration into a well-defined direction and strategy. An aspiration without a strategy is little more than a dream. In too many organizations, the“how”of change is often as unclear as the“why”of change.
    • A decomposed branch-and-price procedure for integrating demand planning in personnel staffing problems

      Van Den Eeckhout, Mick; Vanhoucke, Mario; Maenhout, Broos (Elsevier, 2020)
      Project staffing with discrete time/resource trade-offs and calendar constraints. • A cut-branch-and-price procedure is proposed. Decomposition into subproblems with a specific staffing composition. Dedicated cuts include personnel information in the workload pricing problem. The personnel staffing problem calculates the required workforce size and is determined by constructing a baseline personnel roster that assigns personnel members to duties in order to cover certain staffing requirements. In this research, we incorporate the planning of the duty demand in the staff scheduling problem in order to lower the staffing costs. More specifically, the demand originates from a project scheduling problem with discrete time/resource trade-offs, which embodies additional flexibility as activities can be executed in different modes. In order to tackle this integrated problem, we propose a decomposed branch-and-price procedure. A tight lower and upper bound are calculated using a problem formulation that models the project scheduling constraints and the time-related resource scheduling constraints implicitly in the decision variables. Based upon these bounds, the strategic problem is decomposed into multiple tactical subproblems with a fixed workforce size and an optimal solution is searched for each subproblem via branch-and-price. Fixing the workforce size in a subproblem facilitates the definition of resource capacity cuts, which limit the set of eligible project schedules, decreasing the size of the branching tree. In addition, in order to find the optimal integer solution, we propose a specific search strategy based upon the lower bound and dedicated rules to branch upon the workload generated by a project schedule. The computational results show that applying the proposed search space decomposition and the inclusion of resource capacity cuts lead to a well-performing procedure outperforming different other heuristic and exact methodologies.
    • A statistical method for estimating activity uncertainty parameters to improve project forecasting

      Vanhoucke, Mario; Batselier, Jordy (MDPI, 2019)
      Just like any physical system, projects have entropy that must be managed by spending energy. The entropy is the project’s tendency to move to a state of disorder (schedule delays, cost overruns), and the energy process is an inherent part of any project management methodology. In order to manage the inherent uncertainty of these projects, accurate estimates (for durations, costs, resources, …) are crucial to make informed decisions. Without these estimates, managers have to fall back to their own intuition and experience, which are undoubtedly crucial for making decisions, but are are often subject to biases and hard to quantify. This paper builds further on two published calibration methods that aim to extract data from real projects and calibrate them to better estimate the parameters for the probability distributions of activity durations. Both methods rely on the lognormal distribution model to estimate uncertainty in activity durations and perform a sequence of statistical hypothesis tests that take the possible presence of two human biases into account. Based on these two existing methods, a new so-called statistical partitioning heuristic is presented that integrates the best elements of the two methods to further improve the accuracy of estimating the distribution of activity duration uncertainty. A computational experiment has been carried out on an empirical database of 83 empirical projects. The experiment shows that the new statistical partitioning method performs at least as good as, and often better than, the two existing calibration methods. The improvement will allow a better quantification of the activity duration uncertainty, which will eventually lead to a better prediction of the project schedule and more realistic expectations about the project outcomes. Consequently, the project manager will be able to better cope with the inherent uncertainty (entropy) of projects with a minimum managerial effort (energy).
    • Flexible multivariate hill estimators (Accepted)

      Dominicy, Yves; Heikkilä, Matias; Ilmonen, Pauliina; Veredas, David (Elsevier, 2019)
      Dominicy et al. (2017) introduce a family of Hill estimators for elliptically distributed and heavy tailed random vectors. They propose to use the univariate Hill to a norm of order of the data. The norms are homogeneous functions of order one. We show that the family of estimators can be generalized to homogeneous functions of any order and, more importantly, that ellipticity is not required. Only multivariate regular variation is needed, as it is preserved under well-behaved homogeneous functions. This enables us to have flexibility in terms of the estimator and the underlying distribution. Consistency and asymptotic normality are shown, and a Monte Carlo study is conducted to assess the finite sample properties under different asymmetric and heavy tailed multivariate distributions. We illustrate the estimators with an application to 10 years of daily data of paid claims from property insurance policies across 15 regions of Belgium.
    • Comparison and classification of flexible distributions for multivariate skew and heavy-tailed data

      Babic, Sladana; Ley, Christophe; Veredas, David (MDPI, 2019)
      We present, compare and classify popular families of flexible multivariate distributions. Our classification is based on the type of symmetry (spherical, elliptical, central symmetry or asymmetry) and the tail behaviour (a single tail weight parameter or multiple tail weight parameters). We compare the families both theoretically (relevant properties and distinctive features) and with a Monte Carlo study (comparing the fitting abilities in finite samples).
    • Unveiling the whys and wherefores of customer helpful behaviours

      Katsaridou, Iliana; Lemke, Fred (2019)
      Customers may step out of their expected ‘role behavior’ to engage in ‘citizenship behaviours’. This role- change provides emotional and instrumental benefits to service employees (SEs). Although past research has acknowledged the veracity of this interesting phenomenon, the customers’ motivations and expectations for performing supportive actions that explicitly benefit service personnel remain unclear. This paper investigates both fundamental sources of such customer behaviours.
    • When supplier development initiatives fail: Exploring the causes of opportunism and unexpected outcomes

      Tran, P.; Lemke, Fred; Gorton, M. (2019)
      Buyers often seek to enhance the capabilities of their suppliers through supplier development initiatives. However, these initiatives are not always successful and may have unintended consequences. This study investigates a ‘dark-side’ of supplier-buyer relationships, specifically the link between supplier development initiatives and supplier opportunism. Agri-food supply chains in Vietnam is the context for the study. We employ an explorative, qualitative methodology, analysing data from 30 interviews with fruit and vegetable buyers. The findings identify different supplier development initiatives and the specific forms of opportunism that may arise from each. Attention is paid to strategies to curb opportunism.
    • The relationship between growth and profitability revisited - Exploring different modes of growth

      Weiss, Martin; Khoury, Theodore Andrew; Kreutzer, Markus (2019)
      Growth represents an essential element to the entrepreneurial journey as it reflects the recognition and pursuit of opportunities. However, despite prior research, the relationship between growth and profitability still remains illusive. With an attempt to inform a new understanding of this relationship, we examine its non-linear character through decomposing growth into organic and acquisitive modes and theorize the way in which these modes shape profitability. Further, we propose that these modes can affect profitability through their interaction with each other. We study these relationships with a panel of established German companies over 13 years to uncover an inverted U-shaped relation between growth and profitability, mainly driven by acquisitive growth, but organic growth has a declining positive effect. The interaction of both growth modes shows a negative impact of acquisitive growth on the positive performance effect of organic growth. Furthermore, we conduct post-hoc tests that reveal a contrast to how younger and smaller firms realize different trajectories of profitability depending on their mode of growth.
    • Excellence in management research: How universities support or destroy intellectual virtues

      Erden, Zeynep; Haefliger, S.; Wallin, M.; von Krogh, G.; Spaeth, S. (2019)
    • Fostering multidisciplinary collaboration in drug discovery

      Erden, Zeynep; Ben-Menahem, Shiko; von Krogh, Georg; Schneider, Andreas; Koch, Guido; Widmer, Hans (R J Communications & Media World Ltd, 2019)
      Drug discovery teams combine specialists with in-depth knowledge from a variety of scientific disciplines. Such diversity in thought worlds poses a challenging exercise in cross-disciplinary collaboration and project coordination. Based on a longitudinal field study of five projects in a leading pharmaceutical company we present a framework outlining the conditions for effective cross-disciplinary collaboration in drug discovery teams. We show that knowledge creation in multidisciplinary teams relies on a combination of formal team structures and informal co-ordination practices. Formal team structures set the boundary conditions for cross-disciplinary co-ordination. Within their boundaries self-managed sub-teams draw on informal co-ordination practices involving cross-disciplinary anticipation, synchronization and triangulation to overcome knowledge boundaries and high uncertainty. We identify five key insights and two questions which are important for managers to consider for fostering multidisciplinary collaboration in drug discovery.
    • Choice for entrepreneurial career: Do cognitive styles matter? (Published Online)

      Deprez, Jana; Cools, Eva; Robijn, Wouter; Euwema, Martin (De Gruyter, 2019)
      Upon graduation, students make the decision to either become an entrepreneur or an employee. Numerous studies have thus investigated personal and environmental factors that impact this decision. As cognitive styles have become more and more important in determining individual and organisational behaviour, and as they are presumed to provide new valuable insights over and above other personal factors, they provide the ideal focus to further explore this career choice. In this article, we aim to explore how creating, planning, and knowing cognitive style relate to entrepreneurial attitudes, intentions, and career choices. Using the Theory of Planned Behaviour, in a first sample, we investigate the direct and indirect impact that cognitive styles have on entrepreneurial intention through attitudes. In our second sample, we look at how career preferences for entrepreneurship or a more traditional career as an employee are affected by cognitive styles. Using structural equation modelling analysis, this study finds evidence for the importance of creating cognitive style on entrepreneurial outcomes. Additionally, we find evidence for the relationship between planning cognitive style and wanting to be an employee. Knowing style does not lead to either preference. This paper extends the current knowledge on cognitive styles and entrepreneurship by analysing the impact of other cognitive styles than the predominantly used innovative styles and by also exploring its impact on important antecedents of entrepreneurial intentions, such as entrepreneurial attitude and career preferences.
    • Advanced analytics in pharmaceutical innovation: The use of real-world evidence in oncology

      Geldof, Tine (2019)
      The smart use of real-world evidence (RWE) is known to enable more flexible forms of access to novel medicines. This flexibility may be especially promising for targeted cancer medicines, which often do not align with the traditional approach to medicinal development, and for which therapeutic innovation (i.e. favourable and clinically significant benefits at an affordable price) in routine clinical practice is becoming ever more difficult to achieve due to its highly complex nature. Amongst others, RWE should include information on the performance of those medicines for every individual patient. However, the current estimation of this patientlevel performance using conventional methods from pharmaceutical and medical sciences is challenging. This is because these methods are unable to derive causal conclusions on medicinal performance from the complex real-world environment, as opposed to controlled and randomised clinical trial settings. Simultaneously, the increasing emergence of novel medicines, and their promising combined effects are now creating a new combinatorial complexity level on the captured data. At the same time, new and advanced analytical methods within the field of data science are continuously being developed and have recently been applied to pharmaceutical and medical research, including the domain of pharmacoepidemiology. These powerful methods include techniques such as machine learning and Bayesian approaches, both being recognised as having a transformative potential in clinical research and practice. Specifically, they may be used to gain new insights into the patient-level performance of novel medicines in the messy real world, thereby providing a better understanding of RWE. In doing so, studies may generate new hypotheses through the exploration of data sets, or test existing hypotheses prespecified during prior clinical research. In this dissertation, I present the specific methods of advanced analytics to unravel the complexity of RWE , therefore, increasing our understanding of the individual performance of cancer treatments. These methods are investigated for their use in both hypothesis generation (part 1) and hypothesis testing (part 2) studies. A general ntroduction into the field is provided in Chapter 1, followed by the research objectives. In Chapter 2, I validate the use of an advanced modelling technique, i.e. machine learning, as a personal performance prediction model for glioblastoma. Optimisations of this model to be used on novel medicines in more complex situations are proposed in Chapter 3. In Chapter 4, the importance of multi-product RWE assessments is explored, for which hypotheses. Lastly, for these investigated analytics to become useful in healthcare, the need for an insight-providing federated network is introduced in Chapter 6. Chapter 7, the last chapter of this dissertation, presents a general conclusion with discussion of the research contributions.
    • Topics in financial economics

      Matthys, Thomas (2018)
    • Digi-Tec: The VC investor exit decision

      Paeleman, Ine; Manigart, Sophie; Slagmulder, Regine (2019)
      Digi-Tec was a growing ICT firm and achieved growth both organically and through mergers and acquisitions (M&As). The large number of shareholders had divergent goals and visions for the future. In order to ensure further growth, two main shareholders searched for an external investor to buy out the others and thereby align and strengthen its governance. In 2011 the Spain-based private equity firm SRIC invested in Digi-Tec. This case documents the interactions between the external investor and the management. An exit opportunity arose much earlier than expected. The investment manager is faced with the question whether it is optimal to exit already after three years, or rather to stay on board for some more years as initially planned.
    • Optichannel retail. Beyond the digital hysteria. Develop and implement a winning strategy as a retailer or brand manufacturer

      Van Ossel, Gino (LannooCampus, 2019)
      The digital revolution has made customers more demanding than ever. Speed, transparency and hyper-personalization are the new norm. More and more brand manufacturers are now selling directly to consumers in their own stores and webshops. In the meantime, new technologies are already heralding in the next phase of seismic change. In this book, Gino Van Ossel introduces the concept of optichannel, which will guide retailers, brand manufacturers and service companies through and beyond the current wave of digital hysteria. Using recognizable examples, he offers us a realistic view of the retail of the future and sets out a practical framework for a successful strategy that strikes the right balance between profit, competitiveness and customer focus.
    • Project schedule performance under general mode implementation disruptions

      Burgelman, Jeroen; Vanhoucke, Mario (Elsevier, 2020)
      This paper presents a simulation study for a resource-constrained project scheduling problem with multiple alternatives. We decide on a set of baseline schedules at the project planning phase, resulting in options to switch between execution modes of activities during project execution. We assess the performance of the set of baseline schedules under general mode implementation disruptions. A simple, yet effective algorithm is presented to construct the set of baseline schedules. Moreover, a general disruption system is proposed to model different disruption types, disruption dependencies and disruption sizes.