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The value co-creation process of corporate reputation along the supply chain: A multi-stakeholder perspective
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What is the right price. 6 paths of value creation that can lead toward higher pricing
No full textOur research insights translated into added value for you and your organisation Research – either academic or research for business – can only be valuable when shared. That’s why we translate our research into easy-to-read whitepapers focusing on the key insights that are relevant for you as a manager. This way, your organisation can profit directly from the latest research, the newest theories, the expertise of our faculty and much more
The welfare and price effects of sector coupling with power-to-gas
No full textElectricity 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. A sensitivity analysis is conducted to contextualize these findings for system specificities
The performance of acquisitions by high default risk bidders
No full textWe investigate the takeover strategies of high default risk acquirers and their value impact. We find that these bidders select bigger, less profitable and unrelated targets, pursue transactions during recessions, and pay with shares by offering target shareholders high premiums. Their long-term buy-and-hold returns are extremely negative, and reflect fundamentally their substantial drop in profitability combined with high leverage. We show that the well-established long-run underperformance of acquiring firms is largely driven by this sub-set of acquirers. The results are similar when we use alternative measures of default risk and performance, and a global sample of non-US bidders
Measuring CEO Perception of Environmental Conditions – CEO Misperceptions and their Impact on Strategic Change
No full textNot all international assignments are created equal: HQ-subsidiary knowledge transfer patterns across types of assignments and types of knowledge
No full textDrawing on 50 semi-structured interviews in a case study of a Belgian multinational and its foreign subsidiary in Poland, we develop new insights into how using different types of international assignments (long-term expatriation, short-term expatriation, short-term inpatriation) allows a HQ-subsidiary dyad to transfer different types of knowledge (declarative, procedural, axiomatic, relational), both from and to HQ, during and after the assignment. We show how each type of assignment acts as a unique knowledge transfer channel, and why it is critical that HQ-subsidiary dyads use an appropriate combination and sequence of international assignments reflecting their specific knowledge transfer needs
De economie van morgen. Wat met de wendbaarheid van onze werkgevers en werknemers?
No full textTijdens de voorbije beleidscyclus zette het arbeidsmarktbeleid in op het voorzien van de langetermijnrandvoorwaarden die moeten toelaten dat werknemers en bedrijven opportuniteiten zien en initiatief nemen in onze huidige veranderende economische context. De overheid investeerde in een innovatiecultuur en in een waardengedreven beleid ter voorbereiding op de economie van morgen. Om dat te verwezenlijken linkte de Vlaamse Regering een aantal hefbomen aan een reeks kernwaarden (Vlaamse Regering, 2014) zoals wendbaarheid, duurzaamheid met een focus op de lange termijn en op transparantie, responsabilisering van individuen en organisaties, klantgerichtheid en zorg voor de werknemer en maatwerk. Vanuit eigen onderzoek binnen het Vlerick Centre for Excellence in Strategic Rewards gaan we dieper in op elk van de vermelde kernwaarden en wat deze betekenen voor een beloningsbeleid gericht op het stimuleren van wendbaarheid en innovatie binnen bedrijven én bij medewerkers
Leading in a VUCA World
No full textOrganisations that are able to adapt quickly to changing circumstances in their operating environment have a competitive advantage. This level of “agility” involves more than simply developing new strategies and organisational structures to enable the rapid gathering of relevant information and equally rapid response times. Agility also—if not primarily—requires an ability on the part of people in the organisation to collaborate effectively to improve their decision-making abilities both as far as speed and quality of outcome are concerned. Collaboration involves more than the mere acquisition of a particular skills set, e.g., to listen and communicate effectively, or procedural adeptness. Creating a collaborative working environment requires a climate of trust within the organisation and a mindset that is focused on working with, rather than against others to achieve common organisational goals and objectives. Given the human propensity to compete and the so-called trust deficit prevalent in organisations, trustworthiness on the part of leaders and an ability to instil a culture of collaboration are required. However, a number of human and organisational obstacles would need to be overcome to achieve this
