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Sustainable finance is er niet alleen voor de grootste bedrijven
No full textDuurzame strategieën zijn mainstream geworden, en daarmee groeit ook de aandacht voor duurzame financiering. Om die financiële stromen in kaart te brengen heeft Vlerick Business School het Centre for Sustainable Finance opgericht. Kartrekker en directeur is professor David Veredas
Academy of Management Proceedings
No full textThe aging workforce is a major societal challenge that will affect managerial practices worldwide. Understanding how to better manage older employees is therefore of utmost importance for managers and organizations. By integrating the lifespan developmental perspective to adult development with organizational justice, the current research investigates employee age differences in the importance of interpersonal justice in the workplace. In Study 1, we used interviews (N=56) to explore employee age differences in the salience of interpersonal justice concerns. In Study 2, we used a scenario-based experiment (N=418) to investigate employee age differences in the relationship between interpersonal justice perceptions and trust in supervisor. In Study 3, we used a three-wave survey (N=454) to test one age-related psychological mechanism responsible for such differences. The results showed that interpersonal justice concerns are more salient among older versus younger workers, and that interpersonal justice predicts trust in one’s supervisor to a greater extent among older versus younger workers. Results also suggest that these age-related differences could be explained by older workers’ greater present temporal focus. These findings provide important theoretical implications for the study of aging and work and offer practical applications for how to motivate an increasingly older and age-diverse workforce
Proceedings of the 2021 IISE Annual Conference
No full textPublic organizations are continuously required to change in part due to shifting political and societal preferences. While there is extant research demonstrating how change can be managed in public organizations, there is a lack of understanding concerning the holistic and systemic nature of public-sector change. This article aims to integrate empirical research on public-sector change in order to provide a conceptual framework centered on unravelling its holistic and systemic nature. A systematic literature review on change in public organizations is conducted which draws on quantitative articles published in journals indexed in SSCI’s Public Administration category. A total of 124 articles were identified by this review. The second part of this work builds on the insights that were generated through an in-depth analysis of 40 papers of the final paper set. For this purpose, 100 factors were extracted that have significant relationships with either the context of change or its impact. Lastly the retained factors were projected on the criteria of the Six Batteries of Change model. This model offers a holistic framework that is proved to be a key driver to boost change, based on empirical research in 111 organizations with various backgrounds. The projection provides valuable insights regarding the rational and emotional side of change in public organizations, their context and impact. This leads to recommendations for future research that is needed to counter the current change paradigms
The View of Angels From Above: Angel Governance and Institutional Environments
No full textCompared to scholarship focused on venture capital, we know less about angel investing and, in particular, less about how angels operate across institutional environments. Given the importance of angels within early-stage entrepreneurial investment growing globally, the field of angel governance is poised for further investigation. Thus, in this paper, we begin the conversation on angels and institutions and provide a framework for studying the post-investment governance role taken by angels amid institutional variation. First, we provide a review of the research conducted on angel-centered corporate governance. We then explore how the regulative, normative, and cultural-cognitive institutional domains may influence angel governance arrangements. Within these domains, we isolate how the extent, frequency, and mode of angel engagement with the target venture can be shaped by the institutional environment
Strategic behaviour in flexibility markets: New games and sequencing options
No full textDistribution 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
Trust and the value of CSR during the global financial crisis
No full textAbstract Lins, Servaes and Tamayo (2017) (LST) show that during the Global Financial Crisis (GFC) US firms with high corporate social responsibility (CSR) ratings increased in value relative to firms with low CSR ratings. Our study raises questions about the internal and external validity of the inferences in LST. For a similar sample of US stocks, we find no evidence that high CSR firms outperformed low CSR firms during the GFC when we use a calendar‐time portfolio analysis that controls for industry, or uses value‐weighted portfolios. For a sample of Japanese stocks, we also fail to confirm the results reported in LST
Is stress good for negotiation outcomes? The moderating effect of social value orientation
No full textPurpose Negotiations are often conducted under stress. Previous studies show that stress can help or hurt negotiation outcomes. This study suggests that individual differences explain these effects, and the purpose of this study is to examine the effect of social value orientation (SVO) and stress on negotiation outcomes. Design/methodology/approach Two experimental studies and a pilot investigate the influence of stress and SVO (prosocial vs proself) on negotiation offers and outcomes. The authors’ studies are grounded on social interdependence theory and arousal literatures to explain the effects of stress on negotiation. Findings Stress has a positive influence on integrative offers (S1) and joint outcomes (S2). SVO moderates the effect of stress on joint negotiation outcomes (S2), such that, under stress, prosocials fare better than proselfs. Research limitations/implications Managers negotiating under stress should pay attention to their own as well as the others’ SVOs. Managers could also build their negotiation teams considering this individual difference and favor the presence of prosocials in stressful negotiations. Practical implications The findings have practical implications for managers who are under stress on a daily basis. Social implications This research contributes to managers that need to understand how to reach integrative agreements under stress. This is especially important when negotiators are representatives of employees or companies, as the outcomes can affect many individuals. Originality/value To the best of the authors’ knowledge, this is the first study examining the relationship between stress, SVO and negotiation offers and outcomes
Digitalization Cases Vol. 2
No full textPresents an extensive collection of real-world cases on digitalization Includes cases from world's leading organizations in various sectors Shares essential practical insights into digital transformation and the management of digital disruptio
Sailing on a sea of uncertainty: Reflections on operational resilience in the 21st century
No full textThis paper reflects on operational resilience in the 21st century world of transboundary crises. Transboundary crises cross borders, including geographic and organizational boundaries and beyond. In so doing, transboundary crises can have surprising, even unique, consequences, atypical in both their nature and severity. In the case of COVID-19, the crisis spread rapidly from the biological world into politics, markets, and operations/supply chains, almost stopping the beating heart of our global economy. This paper proposes a capability-based framework for thinking about operational resilience in the face of transboundary crises. This framework incorporates formal and informal elements, along with a combination of pre-crisis planning and in-crisis adaptation. The idea is to maintain flexibility, while avoiding unstructured chaos. The case of Texan supermarket chain H-E-B is used to illustrate the framework. Though not from the financial services sector, there is much that financial organizations can learn from its example
