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A classification and new benchmark instances for the multi-skilled resource-constrained project scheduling problem
No full textThis paper studies and analyses the multi-skilled resource-constrained project scheduling problem (MSRCPSP). We present a new classification scheme based on an existing classification scheme for project scheduling problems. This allows researchers to classify all multi-skilled project scheduling problems and its extensions. Furthermore, we propose a new data generation procedure for the MSRCPSP and introduce multiple artificial datasets for varying research purposes. The new datasets are generated based on new multi-skilled resource parameters and are compared to existing benchmark datasets in the literature. A set of 7 empirical multi-skilled project instances from software and railway construction companies are collected in order to validate the quality of the artificial datasets. Solutions are obtained through a genetic algorithm and by solving a mixed-integer linear programming formulation with CPLEX 12.6. The hardness of the multi-skilled project instances is investigated in the computational experiments. An experimental analysis studies the impact of skill availability, workforce size and multi-skilling on the makespan of the project.We acknowledge the support provided by the Nationale Bank van Belgi (NBB) and the Bijzonder Onderzoeksfonds (BOF) for the project, under contract number BOF12GOA021. The computational resources (Stevin Supercomputer Infrastructure) and services used in this work were provided by the VSC (Flemish Supercomputer Center), funded by Ghent University, FWO and the Flemish Government - department EWI
The Palgrave Encyclopedia of Private Equity
No full textThis chapter delves into the intriguing relationship between family firms (FFs) and private equity (PE), shedding light on the opportunities and challenges inherent in this phenomenon. FFs, which are characterized by significant family ownership and control, have captured the attention of PE investors worldwide. On the one hand, PE investors represent an interesting partner for FFs as the former may help to resolve conflicts, address liquidity needs, facilitate succession, drive growth, and adapt to changing industries. PE becomes an essential option for FFs when other financing avenues are limited, and minority investments hold particular allure as they allow the family to maintain control while benefiting from external resources.On the other hand, PE investors recognize the growth potential and promising financial returns associated with FFs. However, negotiations can be intricate since FFs often also consider noneconomic factors. Information asymmetries and trust issues can hinder the process, underscoring the importance of building rapport and aligning strategic and financial objectives. Evidence shows that FFs are more inclined to grant control and voting rights to PE investors when trust is high and when the investor’s nonfinancial resources are required. Although research is relatively limited, positive effects of PE investments on FF performance have been observed, particularly when FFs were underperforming prior to the investment. Acquiring minority stakes in FFs has been found to stimulate growth and profitability, particularly when integrating the existing management team.In conclusion, the partnership between family firms (FFs) and private equity (PE) investors holds strong potential for value creation and mutual benefit. With the provision of financial resources and expertise from PE investors, FFs gain the means to overcome growth challenges and navigate generational transitions. Building trust, aligning strategic objectives, and integrating management teams, however, are crucial for success. When addressing these challenges, FFs and PE investors may unlock significant potential for value creation
Practices of European venture capitalists
No full textThe European venture capital (VC) market picked up and proliferated after the 2008 economic breakdown but faced a sharp slowdown in the second half of 2022 and 2023. Starting the recovery from the impact of the Covid-19 pandemic, Russia’s invasion of Ukraine elevated geopolitical tensions and caused a global economic slowdown. As for many other industries, the increasing macroeconomic volatility, with rising inflation and supply disruptions, has severely affected the venture capital market. At the same time, groundbreaking changes are taking place in society, not least the emergence of new technologies, that create opportunities for VC investors. Artificial intelligence, blockchain, and deep-tech are just a few. The investor landscape for startups is also changing rapidly, with new types of investors entering the scene, such as new forms of corporate VCs, special purpose acquisition companies (SPACs), and super business angels. To get a better understanding of the VC landscape, leading European business schools and universities have joined their efforts and conducted a broad study of VC practices in Europe. In this report, we present our findings on how European venture capitalists select, value, and structure investment deals, what type of value added activities they provide, and how successful they are with their investments. We highlight similarities and differences among various types of VCs, of different sizes, investment focuses, and locations. For thorough statistical analysis as well as elaborate discussions and academic explanations behind the results, we refer to the research papers being developed based on the data from this study
Impact pathways: a home for insights from relevant and impactful operations and supply chain management research
No full textPurpose International Journal of Operations and Production Management (IJOPM) 's Impact Pathway (IP) section has been launched in 2020 to host short contributions grounded in current managerial practices and/or policy development, challenging established operations and supply chain management (OSCM) knowledge and highlighting innovative and relevant research directions. This commentary reflects on the achievements of the section, delineates the key features of IP papers and stimulates further development. Design/methodology/approach This commentary provides a brief overview of the IJOPM 's IP section, taking stock of the contributions that have been published so far, analysing their topics, methodologies, insights and impact. Findings The 19 contributions published over the last three years have dealt with a variety of emerging topics, ranging from the COVID-19 response to additive manufacturing, leveraging on key evidence from managerial practice that challenges consolidated knowledge and theory, providing clear research directions as well as managerial and/or policy guidelines. Originality/value The commentary reflects on the importance of phenomenon-driven research that seeks to bridge the gap between theory and practice, thus increasing the impact and reach of OSCM research. This is a call for contributions from scholars, business leaders and policymakers to develop further impact-oriented research
Mandatory CSR reporting in Europe: A textual analysis of firms’ climate disclosure
No full textWe introduce a machine learning approach that accurately captures disclosure quality by quantifying the thematic content of climate reporting in annual reports. We then use our approach to analyze firms’ climate reporting practices in the context of the widespread European Non-Financial Reporting Directive. For a large sample of annual reports from 2010 to 2020, we find that firms significantly changed their climate reporting narratives in the periods following the announcement and implementation of the mandate. Using the Task Force on Climate-Related Financial Disclosures’ framework as the benchmark for high-quality climate reporting, we show that these changes correspond with improvements in disclosure quality. We further show that the comparability of reporting improves over time and provide first descriptive evidence of a more pronounced comparability change in the years following the implementation of the mandate. Overall, our results highlight the validity of our model and provide further descriptive evidence on the disclosure impact of nonfinancial reporting regulation. Our study also adds to the growing body of research applying machine learning to analyze information from annual reports
PsoPlus: An Integrated Practice Unit for Psoriasis
No full textThere is a need to revise the current healthcare organization due to the ever-rising costs and variation in quality of delivered care. Over the past decades there have been several strategic frameworks attempting to tackle this problem. Value-based healthcare (VBHC) is one of those frameworks which has gained increasing popularity the last years. The framework is formulated on the premise that the healthcare sector should deliver integrated care, using integrated practice units (IPUs), and strive to maximize the value created. Value in this context is defined as the health outcomes achieved per costs made. We have designed a lean IPU called PsoPlus in which psoriasis patients are managed by a multidisciplinary team which has all the expertise and skill to manage psoriasis and its associated conditions. In addition, we have developed and implemented guidelines for the management of psoriasis-associated comorbidities, enabling us to deliver integrated care in the Belgian healthcare setting. Finally, we have designed a supporting information technology platform, called PsoSmart, which brings data from patients and healthcare providers together and provides actionable insights for clinical decision making. The created value is documented and captured using a value-based outcome set. Cost assessments at the individual patient level are also performed. To conclude, we describe here a comprehensive IPU setting for psoriasis which incorporates the VBHC principles. This IPU goes further and delivers a higher level of integrated care than other multidisciplinary psoriasis clinics. Monitoring outcomes and costs provides us with further insights to optimize psoriasis care. In addition, a software program designed to enhance psoriasis care is being developed further; however, advances in healthcare technology are needed.(Research Foundation - Flanders
The time for the future is now: CEO temporal focus and firms’ identification and interpretation of grand challenges – The example of water scarcity
No full textThis study examines whether Chief Executive Officer (CEO) temporal focus—the extent to which CEOs devote their attention to the past, present, and future—is related to firms' identification and interpretation of grand challenges. Using the exemplary grand challenge of water scarcity, we adapt mechanisms of the temporal focus literature to the particularities of grand challenges and propose that CEO temporal focus is related to whether firms identify water scarcity as an issue and whether they interpret the identified issue as an opportunity. In our empirical analysis of 727 firm-year observations for the years 2002–2012, we find no support for the hypothesis that firms’ identification of water scarcity is related to CEO temporal focus. However, we show that having a CEO high in future focus is positively, and a CEO high in past or high in present focus is negatively related to interpreting water scarcity as an opportunity
Regulatory sandboxes: Do they speed up innovation in energy?
No full text* We examine 72 approved sandbox projects in Europe.
* We discuss trends in the innovations and derogations of approved sandbox projects.
* We compare the implementation frameworks of sandboxes in eight European countries.
* We develop lessons learned from designing sandbox frameworks.Regulatory sandboxes are generally seen as an important tool to make policy and regulation evolve with the changes in our energy system and to create an equal playing field for new technologies and business models that arise with the energy transition. Although an increasing number of legal frameworks on regulatory sandboxes are being implemented in Europe, the pioneers in the Netherlands decided to close their sandbox program. These contradictory events lead to questions about the potential of regulatory sandboxes to bring innovation to the European energy sector. This paper contributes to this discussion by examining the experiences with regulatory sandboxes in Austria, Belgium, France, Germany, Great Britain, the Netherlands, Norway and Spain. We compare approved sandbox projects based on their scope and regulatory derogations to identify areas of innovation and regulatory learning brought by regulatory sandboxes. We also examine the legal frameworks of the concerned countries to evaluate the interaction between the implementation of the framework and its potential to bring innovation. In this way, we develop best practices on the topics of regulatory sandboxes and their implementation frameworks.This research was performed in context of Deliverable 10.3 of the EUniversal project that has received funding from the European Union's Horizon 2020 research and innovation program under grant agreement No 864334. We would like to thank the following EUniversal partners for their contribution to the deliverable that served as a basis for this paper: K. Kessels from VITO; T. Gomez from Comillas Pontifical University; S. Giovanett, C. Augusto and K. Glennung from E.DSO; J. Tosoni, M. Nasir and E. Aliyev from EASE; G. Faria and P. Marques from E-REDES
Research Handbook on Diversity and Corporate Governance
No full textChallenging existing research and concepts, this Research Handbook presents cutting-edge new research on diversity and corporate governance. Going beyond the surface of diversity, global expert contributors present a diverse range of chapters offering a wide range of perspectives on the use of theories and methodologies