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The Impact of Superstar Firms on the Labor Share: Evidence from Belgium
No full textThe Belgian labor share, measured as the part of GDP going to labor, is declining. This fits into the global secular trend of decreasing labor shares. A novel strand in the literature focusses on its granular drivers. Recent research in the United States suggests that superstar firms, defined as large firms with a dominant market share, are increasing their market share and relate this to the fall of the labor share (Autor et al. in Q J Econ 135(2):645–709, 2020). Using a long time series of Belgian firm-level data from 1985 to 2014, we provide evidence for the link between the rise of market concentration and the decrease of the labor share in its two largest sectors: Manufacturing and Wholesale & Retail. These two sectors represent approximately half of the Belgian economy. We do not find evidence in other Belgian sectors.We are grateful for the financial support from Methusalem that made this study possible
The tetralemma of the business family
No full textPurpose This conceptual article aims to contribute to the design of a theory of family-influenced firms by a framework for the management of business-family dilemmas. Design/methodology/approach It combines systemic principles with the tetralemma, a tool from ancient Indian logic that families and businesses can use to manage and reframe dilemmas without dissolving the dilemmatic tensions or blurring their boundaries. Findings In applying the tetralemma, the article offers a range of suggestions, such as observing business and family as two discrete, yet codependent, social systems and envisioning conceptual and methodological imports from codependency research and therapy into family business research and practice. Originality/value The article proposes a framework for the selective and flexible navigation of family-business tensions without dissolving them or blurring their boundaries
Academy of Management
No full textYoung graduates are the talent of the future and they will become an important group in organizations in the next decennial. Individuals’ career preferences and work values have shifted over time and, as a result, claims in literature posit that the traditional career will slowly fade away in order to make way for the modern career. In addition, strong contextual forces such as globalization, technology, organizational restructuring, and the growth of services have altered the way we look at careers and challenge what older generations have hitherto taken for granted. Research presented at this symposium will add substantially to the existing literature on what new cohorts of graduates expect from their future career and employer. Authored by scholars from eleven European countries, the papers included in this symposium integrate individual and contextual factors influencing graduates' career intentions across contexts
2020 M&A Monitor: Shedding light on M&A in Belgium
No full textThe Belgian mergers and acquisitions market experienced a good and stable year in 2019, with slight growth in the smaller transactions segment. However, as a result of the Covid-19 pandemic, merger and acquisition activities are expected to decline by more than 30% in 2020. In addition, 60% of Belgian experts also expect a price drop of more than 10%. Liquidity problems in many companies could also cause the balance of power to shift, mainly putting buyers in a strong bargaining position. Finally, for the first time a question was asked about the expected impact of an acquisition on future employment. This impact appears to be positive across the board. These are the main conclusions of the seventh edition of the M&A Monitor, an annual survey of around 110 Belgian merger and acquisition specialists including corporate finance advisers, private equity investors, brokers, bankers and lawyers. The survey asks about their experiences in the M&A market and the deals they were involved in during 2019 on the one hand, and their expectations for 2020 on the other. In order to estimate these expectations correctly, an additional survey was sent out in the second half of March which specifically asked about the expected impact of the Covid-19 pandemic. The study was conducted by professor Mathieu Luypaert and researcher Gianni Spolverato of the Centre for Mergers, Acquisitions & Buyouts at Vlerick Business School in collaboration with Bank J.Van Breda & Co., BDO, NautaDutilh and Sowaccess
Hoogopgeleide nieuwkomers op de arbeidsmarkt: Bevindingen uit het newcomer induction management acceleration programme
No full textVlaanderen wordt steeds meer etnisch en cultureel divers, maar toch zien we die diversiteit niet altijd weerspiegeld in onze bedrijvenmarkt. Nog steeds heerst een tewerkstellingskloof tussen nieuwkomers en autochtonen, en die is groter voor hoog- dan voor laagopgeleiden. Met het Newcomer Induction Management Acceleration Programme (NiMAP project), probeerden we deze tegenstrijdigheid op een integratieve manier onder de loep te nemen. Het project werd gesteund door het Europees Sociaal Fonds (ESF) en de Vlaamse Overheid
Belgian high growth monitor. Shedding light on Belgium's fastest growing firms
No full textFast-growing businesses are known as the engine of job creation. The situation is no different in Belgium. During the last available research period (2015-2018), 920 fast-growing companies were responsible for 52,779 new jobs. They represent 3.8% of Belgian companies with at least 10 employees. Although these figures reveal that Belgium is doing less well than the European average, this group of healthy Belgian ‘gazelles’ does show stability. Over the years they have created around 50,000 jobs during each growth period, even during the period 2009-2012 which was ravaged by the financial crisis. A hopeful sign, especially now that many companies are having trouble keeping their heads above water. This is evident from the annual Belgian High-Growth Monitor, a study conducted by the Growth Management Impulse Centre for Medium-Sized Enterprises (iGMO) at Vlerick Business School, in collaboration with partners EY and KBC. Professor Hans Crijns and lecturer Yannick Dillen analysed the figures available for Belgian fast-growing companies* from the period 2015-2018, in combination with a survey of Belgian owners/managers of growth companies. This survey dates from just before the first wave of coronavirus, but was supplemented by a follow-up survey in the summer
European scale-up report
No full textUnique view of the landscape and management of European scale-ups The widely held belief that European scale-ups are mainly innovative tech companies is incorrect; they can be found in all sectors and at all levels of innovation. However we can identify major differences between sectors in terms of size and growth, with scale-ups that are active in IT and consumer goods and services leading the way. Scale-ups with external investors on board are more professionally managed and have made greater progress in terms of internationalisation, innovation and talent management. All the same, attracting additional funding proves very difficult and hampers their further growth ambitions. These are some of the conclusions of a large-scale study conducted by Vlerick Business School on behalf of Scale-Ups.eu. Professor Veroniek Collewaert, Professor Sophie Manigart and post-doctoral researcher Thomas Standaert used information about more than 80,000 scale-ups in 8 European countries as their starting point. They specifically investigated management practices by means of a targeted survey among 124 of these scale-ups
The issues that shape strategy
No full textCompanies do not only compete in markets; they also compete on social and political issues. Depending on the business opportunities or threats they identify related to an issue, companies will behave as veterans that defend the status quo in an industry, as reformers that will work with the authorities to change the rules of the game, or as heroes that help solve an issue. In this article, we identify the typical elements of success for each of these three generic nonmarket strategies. We do this based on a framework that focuses on the framing of issues, the alliances that can be mobilized around an issue, and the arenas that can be used to make a move
Fluvius research chair in resilient supply chains (2010-2020). Research carried out by the vlerick business school centre of excellence in supply chain management
Get PDFOur mission is the use of rigorous supply chain management research methods and smart meter data analytics to efficiently manage energy supply and proactively shape energy demand for a resilient energy supply chain. Our core research tracks included: * Impact of smart meters on the Eandis & Fluvius business model * Supply Chain Management approach to provision of smart gas and electricity meters * Design For Supply Chain in product development and employee training programs * Design For Supply Chain in the smart meter project * Creating value through new flow control mechanisms and data availabilit
Too much love will kill you: the development and function of group emotional awareness
Get PDFPurpose This paper aims to enhance clarity for the conceptualization and measurement of group emotional awareness by defining it as an emergent state. The authors explore the emergence of this state through two studies designed to explore the four characteristics (global, radically novel, coherent and ostensive) of emergent phenomena (Waller et al., 2016). Design/methodology/approach In Study 1, the authors explore in an experimental setting the formation of group emotional awareness and regulation as emergent states as a result of compositional effects (team members’ self-perceptions of their individual emotional awareness capabilities) and group norms regarding emotional awareness. Study 2 uses an experimental design to explore how pre-existing expectations of group emotional awareness, based on previous dyadic interactions between team members, can prevent conflict escalation (from task to relationship conflict) in project teams. Findings Individual perceptions of members’ own abilities and group norms interact in the emergence of group emotional awareness. Group emotion regulation can develop only under an optimal level of emergent group emotional awareness; groups that build emotional awareness norms compensate for their members’ low awareness and develop equally efficient regulatory strategies as groups formed of emotionally aware individuals. However, the conjunction of personal propensity towards awareness and explicit awareness norms blocks the development of regulatory strategies. Group emotional awareness (both as a developed state and as an expectation) reduces the escalation of task to relationship conflict. Originality/value Designing for the exploration of the four characteristics of emergence allowed us to gain new insights about how group emotional awareness emerges and operates too much awareness can hurt, and affective group expectations have the power to shape reality. These findings have strong implications for practitioners’ training of emotional awareness in organizations