Now showing items 21-40 of 6742

    • Making the TEN-E regulation compatible with the Green Deal: Eligibility, selection, and cost allocation for PCIs

      Schittekatte, Tim; Pototschnig, Alberto; Meeus, Leonardo; Jamasb, Tooraj; Llorca, Manuel
      The European Green Deal calls for a revision of the Regulation on guidelines for trans-European energy infrastructure (TEN-E Regulation). The focus of the TEN-E Regulation was on accelerating the development of strategically important projects linking energy networks across the EU, labelled as Projects of Common Interest (PCIs). We provide seven recommendations on how to revise the Regulation to align it with the new full decarbonisation objective. We split the analysis in three parts: the eligibility, selection and cost allocation of PCIs. Regarding eligibility, first, oil networks should be excluded, while the case of gas networks is debatable. Second, power-to-X technologies, electric charging infrastructure and (smart) gas distribution grids could be added to the scope. Regarding selection, first, the Ten-Year Network Development Plan (TYDNP) should be integrated over all energy vectors using an open-source model. Second and third, the scenarios used in the TYNDPs should be subject to the European Commission's approval, while the approval decision for cost-benefit analysis methodologies should be reallocated from the Commission to ACER. Finally, regarding cost allocation, first, cross-border cost allocation decisions should leave all involved jurisdictions with similar benefit-to-cost ratios to increase commitment. Second, affordability should be the only award criterion for European funding.
    • Regulatory experimentation in energy: Three pioneer countries and lessons for the green transition

      Schittekatte, Tim; Meeus, Leonardo; Jamasb, Tooraj; Llorca, Manuel (Energy Policy, 2021)
      Regulatory experimentation is a novel approach to enable innovation in the energy sector, while maintaining the protection of consumers. We define regulatory experimentation as a temporary removal of regulatory barriers. This can be in the form of a derogation from a rule, but it can also mean assigning responsibility to players to conduct activities that they are normally not allowed to engage in. The outcomes of regulatory experiments inform future regulation. In this paper, we discuss experiences with regulatory experimentation in the energy sector of three pioneering countries: the Netherlands, Great Britain, and Italy. We compare the implementations along six design dimensions: eligible project promoters, scope of the derogations, length of the derogations, administration of the experiments, the access to public funding, and transparency. We also discuss how the early approaches have evolved in these countries. Finally, we look ahead and discuss how regulatory experimentation can evolve in the future European context to contribute to the green transition.
    • Global market integration, efficiency orientation, and drivers of foreign subsidiary divestments

      Belderbos, René; De Michiel, Federico; Sleuwaegen, Leo; Wu, Shubin (Journal of World Business, 2021)
      Differences in global market integration across industries have important repercussions for MNC strategy and the drivers of manufacturing subsidiary divestment decisions. Global industry integration and the associated competitive pressures lead MNCs to adopt cost efficiency strategies for their subsidiary networks, and subsidiary divestment decisions are strongly driven by labor cost considerations. In non-integrated industries, host country demand conditions are the prime driver of divestments. These patterns are the most salient for MNCs that have aligned their strategy with the global industry environment. Analysis of the divestment hazards of 3827 Japanese manufacturing subsidiaries in 57 countries provides support for these conjectures.
    • The importance of board risk oversight in times of crisis

      Dupire, Marion; Haddad, Christian; Slagmulder, Regine (Journal of Financial Services Research, 2021)
      This study investigates the relationship between board risk oversight practices at financial institutions in the EU and systemic risk during the sovereign debt crisis. More specifically, we examine whether European banks and insurance companies that had strong board-level risk oversight in place before the onset of the sovereign debt crisis fared better during the crisis. We construct a risk oversight index based on publicly available, hand-collected data, which captures the strength of the institutions’ board-level risk governance practices. We find that financial institutions with stronger board risk oversight prior to the crisis were less vulnerable to the sovereign debt crisis, after controlling for other factors. The results are consistent and economically relevant for SRISK, probability of default, and Delta-CoVaR, three measures of systemic risk that are commonly used in the context of financial institutions.
    • Transfer learning for hierarchical forecasting: Reducing computational efforts of M5 winning method

      Wellens, Arnoud P.; Udenio, Maxi; Boute, Robert (International Journal of Forecasting, 2021)
      The winning machine learning methods of the M5 Accuracy competition demonstrated high levels of forecast accuracy compared to the top-performing benchmarks in the history of the Mcompetitions. Yet, large-scale adoption is hampered due to the signi cant computational requirements to model, tune, and train these state-of-the-art algorithms. To overcome this major issue, we discuss the potential of transfer learning (TL) to reduce the computational e ort in hierarchical forecasting and provide proof of concept that TL can be applied on M5 top-performing methods. We demonstrate our easy-to-use TL framework on the recursive store level LightGBM models of the M5 winning method and attain similar levels of forecast accuracy with roughly 25% less training time. Our ndings provide evidence for a novel application of TL to facilitate practical applicability of the M5 winning methods in large-scale settings with hierarchically structured data.
    • Principles for organizations striving for sustainable degrowth: Framework development and application to four B Corps

      Hankammer, Stephan; Kleer, Robin; Mühl, Lena; Euler, Johannes (Journal of Cleaner Production, 2021)
      Economic growth is generally seen as a central economic and political goal. The critique of this view has increased recently. In this context post-growth concepts, such as sustainable degrowth, emerged as an alternative paradigm focusing on ensuring human wellbeing within planetary boundaries. Since business activity is a key driving force behind economic growth, the role of corporate organizations in a transition towards a post-growth society is a particularly challenging question. It is still unclear, for instance, what business models for organizations approaching degrowth could look like. Therefore, our study aims to contribute to understanding guiding principles for organizations approaching degrowth. In this exploratory work, we use a two-step approach: First, based on a systematic literature review, we derive principles for a conceptual framework composed of business-relevant claims in the degrowth discourse in order to assemble and synergize fragmented findings. The resulting conceptual framework serves to describe and assess organizations with respect to their approximation to degrowth. Second, we apply the framework to four organizations certified as B Corps based on qualitative content analysis of interviews with corporate representatives and additional company data. Overall, our findings show that B Corps rather successfully implement numerous degrowth-approaching principles in their organization within our current economic system, while none of the organizations is seen as fully degrowth-conform. With our analysis we uncover significant tensions regarding growth-orientation and identify further needs for empirical and conceptual research.
    • Thank you for the bad news: Reducing cynicism in highly identified employees during adverse organizational change

      Sguera, Francesco; Patient, David; Diehl, Marjo-Riitta; Bobocel, Ramona (Journal of Occupational and Organizational Psychology, 2021)
      Adverse changes, such as layoffs or wage cuts, can irremediably damage the relationship between employees and their organization. This makes it all the more important for organizations to provide information about these changes to avoid the emergence of organizational cynicism among their employees. Drawing on uncertainty management theory, we argue that informational justice and organizational identification jointly regulate organizational cynicism in the context of adverse change. In addition, we examine whether informational justice influences employee exit intentions through cynicism. We test our hypotheses using a multi-method approach, encompassing one experiment (Study 1), one large-scale survey of 1,795 employees undergoing a major restructuring (Study 2), and a five-wave field survey of 174 workers undergoing layoffs and wage cuts (Study 3). In all three studies, poorer communication from the organization predicted greater exit intentions through increased cynicism for employees who were more (rather than less) identified with the organization. By integrating the literature on informational justice, organizational identification, and cynicism, our research offers a more nuanced understanding of the antecedents and consequences of cynicism in the context of adverse organizational change. Practitioner points Organizations undergoing adverse changes, such as layoffs and wage cuts, should provide employees with timely and detailed explanations for the changes (i.e., informational justice). When employees do not receive timely and detailed explanations for adverse changes, they are more likely to become cynical, and to decide to leave the organization. Providing adequate explanations is especially important for employees who strongly identify with the organizations because they are more sensitive to informational justice. Providing explanations is not as effective in reducing cynicism among employees with low levels of organizational identification. When organizations fail to explain adverse changes, employees who identify strongly with the organization may become as cynical as employees whose identities are less closely tied to the organization.
    • An analytical model for budget allocation in risk prevention and risk protection

      Guan, Xin; Servranckx, Tom; Vanhoucke, Mario (Computers & Industrial Engineering, 2021)
      Risk is inherent and inevitable during project execution. Its occurrence often has an adverse impact on the project or even leads to project failure. In order to ensure the successful project completion, risk prevention used for reducing the risk probability and risk protection used for reducing the risk loss should be considered. Given the different effects and costs of these two strategies and the limited project budget, project managers should be able to reasonably divide the budget among these two strategies. This study proposes a budget allocation method consisting of three modules for mitigating the project risks. First, we model the relation between the effect and cost of each strategy as linear and non-linear relations. Second, two mathematical models are built and the corresponding analytical solutions are obtained. Afterwards, a three-step procedure for budget allocation is proposed. To validate the analytical results and investigate the impacts of the characteristics of the project risk and response on the optimal budget allocation, numerical experiments are conducted and managerial insights are drawn. Finally, the budget allocation model is extended with multiple risks, secondary risk and risk transfer, and validated using an empirical analysis.
    • Zingeving als rode draad door het talentmanagement

      Vandenbroucke, Astrid (HR Magazine, 2020)
      Hoe manage je talent in een cultuur die het team centraal stelt en gekenmerkt wordt door dynamische netwerken en veel zelfsturing? Vlerick Business School onderzocht hoe bedrijven dat doen die resoluut kozen voor een agile aanpak. In dit eerste deeltje gaat het over het aspect zingeving.
    • Performance- & rewardmanagement in een agile omgeving

      Vandenbroucke, Astrid (HR Magazine, 2020)
      Vanuit de nood om flexibeler en wendbaarder in te spelen op de klant, groeit de belangstelling voor het zogenaamde agile werken. Vlerick Business School onderzocht hoe een aantal bedrijven die aanpak vertalen naar performance- en rewardmanagement.
    • Meer betrokkenheid via autonomie

      Pfisterer, Matthias (HR Magazine, 2020)
      Organisaties moeten hun medewerkers betrekken bij de strategie en hen autonomie geven bij de uitvoering ervan. Dat leidt tot meer proactieve betrokkenheid, aldus het onderzoek van Matthias Pfisterer.
    • Wendbaarheid, een moeilijk te vatten prioriteit

      Buyens, Dirk (HR Magazine, 2019)
      'Agility' (wendbaarheid) wint sterk aan belangstelling in hr-middens. Het staat in de top-10 van de hr-prioriteiten van onze grootste profitbedrijven. Tegelijk hebben diezelfde hr-afdelingen het fenomeen niet zo goed onder controle.
    • HR prioriteiten in 2019

      Buyens, Dirk (HR Magazine, 2019)
      'Selecteren en rekruteren' staat met wat voorsprong bovenaan de agenda van HR in België. Verder in hun top 5 noemen de hr-afdelingen van onze grootste bedrijven 'betrokkenheid', 'leiderschapsontwikkeling', 'talent management' en 'employer branding'.
    • The impact of internal corporate social responsibility on organizational commitment: evidence from Vietnamese service firms

      Thang, Nguyen Ngoc; Fassin, Yves (Journal of Asia-Pacific Business, 2017)
      This study examines the relationship between internal corporate social responsibility (CSR) and organizational commitment in the service sector in Vietnam. Results from a survey of 256 employees indicate that internal CSR has a positive and significant correlation with organizational commitment. More specifically, labor relations, health and safety, and training and education had a significant effect on organizational commitment whereas work–life balance and social dialogue have no significant association with organizational commitment. The authors also provide implications, limitations, and recommendations for future research.
    • The conceptual foundations of well-being in the service ecosystem

      Lemke, Fred; Hamdan, Qusay; Jafari, Aliakbar (2021)
      There is an increasing recognition of the impact of well-being on multiple stakeholders in the society. This stresses the need to further explore this seminal field of science(Carrington, Zwick, & Neville, 2016; Kilbourne, Dorsch, & Thyroff, 2018; Mittelstaedt, Shultz, Kilbourne, & Peterson, 2014).Thus, in order to formulate a ‘common ground’ for pursuing theory and practice, we have to consider the different perspectives of all stakeholders in the service ecosystem; well-being can then be realized as a value in a co-creative manner (Domegan, Collins, Stead, McHugh, & Hughes, 2013; Guo, Arnould, Gruen, & Tang, 2013; Gurrieri, Previte, & Brace-Govan, 2013). Traditional service marketing approaches neglect the common trade-offs between the longterm well-being of consumers and their short-term wants. Services need to transcend in the delivery of the former aspect – creating well-being – and this, more efficiently and effectively than competitors. This will be the competitive advantage of the future, which the literature agrees on (Kotler, Roberto, & Lee, 2002; Lee & Sirgy, 2004; Sirgy & Lee, 2008). Thus, there is a necessity to further understand service strategies that enhance the co-creation and improvement of well-being. Well-being is a very broad church with lots of different flavours and shades(Burroughs & Rindfleisch, 2002; Kilbourne et al., 2018; Nolan & Varey, 2014). As a result, we lack a holistic understanding of the concept and how it may relate to different stakeholders in the service ecosystem. This creates a gap in knowledge that hinders the improvement of the highly important field. Developing a holistic view requires a better understanding of the concept by piecing together the scattered literature. Given the complexity of the topic, we embark on a systematic review of the existing literature in order to formulate the lacking definition of wellbeing in the service ecosystem. Using multiple techniques (solo coding, inter-coder reliability test, Delphi panel test and grounded theory), we analyze and synthesize the multi-disciplinary literature on well-being. We identify and update the existing conceptualizations of the dimensions of well-being, while identifying the various stakeholders interacting within different environment in the service ecosystem. We map these stakeholders and environments against the dimensions of well-being, which – in conjunction – formulate the definition of overall wellbeing that is applicable in a multi-stakeholders in the service ecosystem. We, furthermore, take a considerable step towards fully understanding the mechanisms of well-being co-creation by exploring the interactions of stakeholders and the interrelations among the well-being dimensions. The study offers a broad spectrum of implications for practitioners as well as an agenda for future research directions.
    • The welfare and price effects of sector coupling with power-to-gas

      Roach, Martin; Meeus, Leonardo (2021)
      Electricity markets with high installed capacities of Variable Renewable Energy Sources (VRES) experience periods of supply and demand mismatch, resulting in near-zero and even negative prices, or energy spilling due to surplus. The participation of emerging Power-to-X solutions in a sector coupling paradigm, such as Power-to-Gas (PTG), has been envisioned to provide a source of demand flexibility to the power sector and decarbonize the gas sector. We advance a long-run equilibrium model to study the PTG investment decision from the point of view of a perfectly competitive electricity and gas system where each sector's market is cleared separately but coupled by PTG. Under scenarios combining PTG technology costs and electricity RES targets, we study whether or not there is a convergence in the optimal deployment of PTG capacity and what is the welfare distribution across both sectors. We observe that PTG can play an important price-setting role in the electricity market, but PTG revenues from arbitrage opportunities erodes as more PTG capacity is installed. We find that the electricity and gas sector have aligned incentives to cooperate around PTG, and instead find an issue of misaligned incentives related to the PTG actor. Although not the focus of our analysis, in some scenarios we find that the welfare optimal PTG capacity results in a loss for the PTG actor, which reveals some intuition that subsidizing PTG can make sense to reduce the cost of RES subsidies. Sensitivity analyses are conducted to contextualize these findings for system specificities.
    • Strategic behaviour in flexibility markets: New games and sequencing options

      Beckstedde, Ellen; Meeus, Leonardo; Delarue, Erik (2021)
      Distribution system operators are expected to procure flexibility when it is cheaper than expanding their distribution grid. How to integrate these flexibility markets in the existing sequence of electricity markets is an important open issue in the evolution of electricity markets in Europe. In this paper, we investigate four market sequencing options: (1) the nodal wholesale market that includes network constraints(WNC); (2) the zonal wholesale market without network constraints followed by an integrated redispatch market to remedy the network congestion at transmission and distribution level created by the wholesale market in a coordinated way (WIR); (3) the zonal wholesale market followed by separate flexibility, redispatch and balancing markets in that order, which implies that congestion at distribution level is treated before congestion at transmission level (WFRB); and (4) the zonal wholesale market followed by separate redispatch, flexibility and balancing markets in that alternative order, which implies that congestion at transmission level is managed before congestion at distribution level (WRFB). We analyse how changing the market sequence can impact the strategic behaviour of flexibility providers, here represented by a Balancing Responsible Party (BRP). We introduce a bi-level model in which the strategic BRP in the upper level acts as a first mover that anticipates the effect of its offers on the market outcome of the lower-level optimization problems. In analogy with the inc-dec game triggered by redispatch markets, we find that flexibility markets can trigger new games. These games will be difficult to detect by regulators as they can be performed by relatively small players. We observe that the WNC market design clearly outperforms the other sequencing options, but there is no clear second best among the alternatives WIR, WFRB, and WRFB.
    • Strategic behaviour in flexibility markets: New games and sequencing options

      Beckstedde, Ellen; Meeus, Leonardo; Delarue, Erik (2021)
      Distribution system operators are expected to procure flexibility when it is cheaper than expanding their distribution grid. How to integrate these flexibility markets in the existing sequence of electricity markets is an important open issue in the evolution of electricity markets in Europe. In this paper, we investigate four market sequencing options: (1) the nodal wholesale market that includes network constraints(WNC); (2) the zonal wholesale market without network constraints followed by an integrated redispatch market to remedy the network congestion at transmission and distribution level created by the wholesale market in a coordinated way (WIR); (3) the zonal wholesale market followed by separate flexibility, redispatch and balancing markets in that order, which implies that congestion at distribution level is treated before congestion at transmission level (WFRB); and (4) the zonal wholesale market followed by separate redispatch, flexibility and balancing markets in that alternative order, which implies that congestion at transmission level is managed before congestion at distribution level (WRFB). We analyse how changing the market sequence can impact the strategic behaviour of flexibility providers, here represented by a Balancing responsible Party (BRP). We introduce a bi-level model in which the strategic BRP in the upper level acts as a first mover that anticipatesthe effect of its offers on the market outcome of the lower-level optimization problems. In analogy with the inc-dec game triggered by redispatch markets, we find that flexibility markets can trigger new games. These games will be difficult to detect by regulators as they can be performed by relatively small players. We observe that the WNC market design clearly outperforms the other sequencing options, but there is no clear second best among the alternatives WIR, WFRB, and WRFB.
    • Brand religions: Shed a new light on today's marketing beliefs

      Pallini, K.; Schillewaert, Niels; Goedertier, Frank (2020)
      Since the early days of business, marketing gurus have preached their beliefs on how to build strong brands. These theories and models have been translated into numerous books to provide a clear framework for marketers on what to aim for and how to grow their brand. But in this abundance of models and theories, marketers might find themselves lost in translation.
    • How employees are proactive in strategic behaviors

      Pfisterer, Matthias; De Stobbeleir, Katleen (2021)
      In today’s world of work, employees do not just let change happen to them, instead, they proactively shape their work, as well as their organization and its fit with the environment. Research shows that proactivity may be beneficial to the individual, the team and the organization. However, despite the importance of proactivity in today’s organizations, research has predominantly focused on employees’ proactivity in shaping their internal work environment, by for example exploring how employees can expand the boundaries of their own roles. When confronted with an unpredictable and rapidly changing external environment, however, employees also need to proactively detect and shape opportunities in their external environment. In this doctoral research proposal, we therefore shift focus from internally to externally oriented proactivity, i.e., proactive strategic behavior, to (1) conceptualize the construct of proactive strategic behavior; and (2) develop the nomological network of the concept of proactive strategic behaviors by testing the antecedents and the consequences of proactive strategic behavior.