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Contract design in R&D partnerships
No full textR&D collaborations entail important managerial challenges. R&D partner firms need to protect their critical assets. Protection mechanisms might however hinder creativity and innovatio
Information and the arrival rate of option trading volume
No full textAbstract In this paper we investigate the interaction between liquidity and information in the options market and its impact on the pricing of the underlying asset. We model option trade duration and volume jointly, for the first time, as a natural measure of options' trading intensity and we associate it with differential degrees of information present in option trades. We report a highly significant association between option trading intensity with contemporaneous and future underlying volatility and returns, which is robust to the presence of other information measures, market factors, and structural forms
Thank you for the bad news: Reducing cynicism in highly identified employees during adverse organizational change
No full textAdverse 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.We acknowledge the support from FCT -Portuguese Foundation of Science and Technology for the project "UIDB/00407/2020" (CUBE)
How to get your employer to invest in your training and development
No full textIf you need to ask your employer to invest in your development, our white paper explains how to go about it. Because learning new approaches doesn’t just benefit you – it benefits your employer too
A qualitative system dynamics perspective on the contribution of information technology credibility towards business and information technology alignment
No full textPurpose: The dynamic interdependence between the deployment of technological assets and organisational performance remains a challenge for modern enterprises. Organisations reinforce competitiveness and improve performance when business activities and information technology (IT) efforts are aligned. The credibility of the IT organisation is an important influence on alignment. This research guides managers and directs future research to improve IT credibility. Design/methodology/approach: Interviews with senior leaders about factors influencing IT credibility provided rich data for analyses. The dynamic complexity of creating a credible IT function to ensure alignment was captured using qualitative system dynamic diagrams. A causal loop diagram was constructed to identify feedback loops and leverage points. Findings: The analysis confirms the impact of three factors identified by prior research. It provides a new perspective on portfolio-level IT governance’s contribution to establishing credibility. The value of using past failure to develop credibility through ownership and resolution emerged from the analysis. Practical implications: The results provide guidelines to improve the IT organisation’s credibility to improve business and IT alignment. Leverage points to improve credibility are provided, and research into resolving past failure as a mechanism to success is suggested. Originality/value: While most of the extant literature focused on static alignment factors, causal loop diagrams provided insight into IT credibility’s systemic nature. A new factor (resolving past failure), a new perspective (portfolio level governance), and confirmation of existing factors and identifying leverage points contribute to practice and science
Supplementary pensions - A strategic reward perspective
No full textWithin the context of growing pressure on legal pensions, it is difficult to overestimate the importance of supplementary pension plans. Today, about 80% of the professionally active population is affiliated with a supplementary pension plan, and few HR directors need to be convinced about the need for such plans. What is a challenge, though, is whether and how supplementary pension plans can be considered an instrument of strategic rewards and can thus be aligned to the firm’s overall reward strategy. That’s why Vlerick’s Centre for Excellence in Strategic Rewards together with its member Vanbreda Risk & Benefits – who has a high level of expertise in the field of supplementary pensions – set out together to answer that question. Professor Xavier Baeten decided to focus on the reward strategy and think about how the design of (specific parts of) a supplementary pension plan can be aligned with the company’s overall reward principles. This proved to be a very interesting and inspiring exercise, whose results are explained in the white paper ‘Supplementary pensions: a strategic reward perspective’. The white paper consists of 3 parts. First, the concepts of strategic rewards and reward strategy are explained. Next, the main building blocks and relevant concepts of supplementary pensions are focused on. Finally, and this is the core of this white paper, it is explained how these building blocks (and choices to be made) relate to 5 key reward principles
Investigating the co-creation of IT consulting service value: empirical findings of a matched pair analysis
No full textDigitalization is increasingly and broadly impacting on companies throughout all industries. To cope with digital transformation, organizations need specific IT skills and often face a bottleneck between required and existing capabilities. Thus, organizations revert to support from IT consultants. However, such collaborations need to create value so as to make client organizations future-proof in the long term. We therefore need a better understanding of how value is created in IT consulting projects. We build on service-dominant (S-D) logic as the theory base and evaluate our structural model, which explains IT consulting service value based on 77 matched pairs of IT consulting projects using structural equation modeling. We provide empirical support for the assumptions of S-D logic in the IT consulting industry and reveal determinants that significantly contribute to the overall IT consulting service value. Our results contribute to the ongoing discourse in the S-D logic literature and provide meaningful insights for practice
Stuck between me: A psychodynamic view into career inaction
No full textWe all know people who want to make a change in their careers but do not act on this desire. Yet this phenomenon, recently labeled “career inaction” (Verbruggen & De Vos, 2020), has received almost no research attention to date. To address this gap and enrich our understanding of career inaction, this paper explores the lived experiences of 43 individuals characterized by inaction. Employing a qualitative research design and informed by the broader literature on psychodynamics, we find that people's experience of inaction is emotionally tense and situated among the interaction of three psychodynamic “me”-identifications: the “striving me,” the “comfortable me,” and the “uncertain me.” Our study further identifies various tension-easing strategies that help people ease the psychological strain of career inaction, even though their inaction often continued. Altogether, our study enriches and extends extant theorizing on career inaction and calls for a renewed focus on bounded rationality and emotionality in contemporary careers.This project is funded by the Research Foundation Flanders (FWO) under grants CARST
G0E8318N and SB/1SE6421N and by the Internal Funds KU Leuven (Postdoctoral mandate
PDMT 1/21/008
