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Document Server@UHasselt (58.393 recursos)

Repository of the University of Hasselt containing publications in the fields of statistics, computer science, information strategies and material from the Institute for behavioural sciences.

Dept. Management (BEDR) - Financing, entrepreneurship and reporting

Mostrando recursos 1 - 20 de 170

  1. Do Private Family SMEs really need an empowered board?

    SWINNEN, Marleen; HOUBEN, Ghislain; LYBAERT, Nadine; VOORDECKERS, Wim; LAMBRECHTS, Frank
    This article examines why a private family SME with several governance needs, works with a paper or rubber-stamp board and how the firm then manages its governance needs. Based on an in-depth case study, we suggest that the explanation for this apparent paradox might be found in the fact that board empowerment is determined by the governance needs of the firm. And since these governance needs can also be managed by alternative governance mechanisms, there may be no need for that family SME to have an empowered board. Our results also suggest that institutional effects play a very important role in...

  2. Multiple directorships in unlisted SMEs

    VOORDECKERS, Wim; STEIJVERS, Tensie; MERCKEN, Roger
    During the last decade, several studies examined the benefits and detriments of multiple directorships in listed firms. Recently, more formal governance guidelines for SMEs emerged and strongly recommended the adoption of outside directors, making the discussion about multiple directorships in unlisted SMEs relevant as well. Results reveal that a busy board positively influences performance except for high growth ventures in which a busy board seems to be detrimental to performance. Results also suggest that a busy CEO negatively influences performance. However, the board’s busyness and firm growth seem to moderate the busy CEO-performance relationship. A busy board would compensate for...

  3. Private Family Ownership and the Agency Costs of Debt

    STEIJVERS, Tensie; VOORDECKERS, Wim
    This article presents empirical evidence on the agency costs of debt in private family firms by examining the explicit (interest rate) as well as implicit (business and personal collateral) bank loan price simultaneously. Using a cross sectional sample of lines-of-credit of the NSSBF database, family firms appear to be more likely to pledge personal collateral which suggests that agency costs of debt are higher in family firms. Hence, personal collateral seems to be a better instrument than interest rates or business collateral for financial institutions to cope with the specific agency problems (e.g. self-control problems and negative effects of parental...

  4. De invloeden op het imago van de accountant, gemeten bij de Vlaamse eerstejaarsstudenten (dl 2)

    LYBAERT, Nadine; Vander Mierde, Johan

  5. Het imago van de accountant, gemeten bij de Vlaamse eerstejaarsstudenten

    LYBAERT, Nadine; Vander Mierde, Johan

  6. Intellectual capital disclosure, cost of finance and firm value

    ORENS, Raf; Aerts, Walter; LYBAERT, Nadine
    Purpose – The purpose of this paper is to examine empirically the impact of web-based intellectual capital (IC) reporting on firm's value and its cost of finance. Design/methodology/approach – A content-analysis of corporate web sites is conducted from four continental European countries (Belgium, France, Germany and The Netherlands) on the presence of IC information. Simultaneous regression modelling is used to control for endogeneity within a firm's disclosure strategy. Findings – The data show that cross-sectional differences in the extent of IC disclosure are positively associated with firm value. Greater IC disclosure in continental Europe is associated with lower information asymmetry,...

  7. International Accounting Standards: Bespreking en toepassing van de IAS/IFRS normen

    Jorissen, Ann; LYBAERT, Nadine; Rombaut, Carl; Vanstraelen, Ann; Vander Bauwhede, Heidi

  8. Financial accounting

    Jorissen, Ann; LYBAERT, Nadine; Reyns, carl; Vanneste, Jacques

  9. The use of management control systems within family owned SMEs

    DEKKER, Julie; LYBAERT, Nadine; MERCKEN, Roger; STEIJVERS, Tensie
    Research examining the use of control systems in the family context is scant. Through a qualitative case-based study we will examine how family firms cope with the use of management control systems. Therefore, a distinction is made between family-owned firms which are managed by family members and family-owned firms which are managed by external, non-family members, i.e.professional managers. This situation is approached through the owner/manager relationship understanding of the Agency Theory. The taxonomy of control which is used, will distinguish between formal and informal types of control. This corresponds with the main dichotomy which occurs in most control typologies of...

  10. The use of management control systems within family owned SMEs

    DEKKER, Julie; LYBAERT, Nadine; MERCKEN, Roger; STEIJVERS, Tensie

  11. Co-creating psychological ownership for family firm change. Applying a relational practice perspective.

    LAMBRECHTS, Frank; KOIRANEN, Matti; GRIETEN, Styn
    This paper introduces a relational practice perspective to look at organizational change in family firms. At present there is a scarcity of studies on family firm change. Family firms yet represent the majority of all businesses in countries around the world. We propose that it is mainly the lack of relational quality among the parties involved that causes failures of organizational change, carrying with them enormous social and economic tolls. The value of a relational practice perspective is illustrated using an in-depth comparative case of a successful and unsuccessful organizational change process, both in a non-family business setting. We apply...

  12. Organizational change in family firms.

    HENDRIKX, Karolien; VOORDECKERS, Wim; LAMBRECHTS, Frank
    Many organizational change efforts don’t live up to their expectations, with inefficiencies in the interaction process between organizational actors as one of the main potential reasons for this failure. Therefore, this paper will focus on the impact of interaction processes on change within the specific organizational context of family firms. Family firms are particularly interesting for organizational change research since they have several unique characteristics that may facilitate or hinder the interaction process during an organizational change. The uniqueness of the family firm stems from the integration of two subsystems that are not necessarily compatible, namely the family system and...

  13. Building generative theory from participatory action-oriented research: The organization as co-researcher in organizational change.

    LAMBRECHTS, Frank; GRIETEN, Styn
    More than two thirds of all organizational change processes fail, carrying with them enormous social and economic consequences. The cause of failure is usually ascribed to the way actors co-generate the change process. Given the low success ratio, there is an urgent need for more actionable knowledge on change. This is knowledge that goes beyond merely explaining and predicting by evoking concrete actions and opportunities to transform an organization into a more learning system. This paper proposes a participatory action-oriented method that produces this kind of knowledge by linking researchers and practitioners in a joint learning journey. Continuously enacting high...

  14. Co-creating psychological ownership for change. Applying a relational practice perspective in family businesses.

    LAMBRECHTS, Frank; KOIRANEN, Matti; GRIETEN, Styn; Bouwen, René
    This paper takes up the call for a relational view of family businesses by introducing a relational practice perspective on organizational change in family firms. At present there is a scarcity of studies on family firm change. Family firms yet represent the majority of all businesses in countries around the world. We propose that it is mainly the lack of relational quality among the parties involved that causes failures of organizational change and learning, carrying with them enormous social and economic tolls. The value of a relational practice perspective is illustrated using an in-depth comparative case of a successful and...

  15. Organizational change in family firms

    HENDRIKX, Karolien; VOORDECKERS, Wim; LAMBRECHTS, Frank
    Many organizational change efforts don’t live up to their expectations, with inefficiencies in the interaction process between organizational actors as one of the main potential reasons for this failure. Therefore, this paper will focus on the impact of interaction processes on change within the specific organizational context of family firms. Family firms are particularly interesting for organizational change research since they have several unique characteristics that may facilitate or hinder the interaction process during an organizational change. The uniqueness of the family firm stems from the integration of two subsystems that are not necessarily compatible, namely the family system and...

  16. The dynamics of psychological ownership in family firms: A new perspective on non-financial value creation.

    HENSSEN, Bart; VOORDECKERS, Wim; LAMBRECHTS, Frank; KOIRANEN, Matti
    Although family business scholars recently introduced ‘psychological ownership’ as a key non-financial value creator, its exact nature and dynamics in family firms remain unclear. To fill this important gap in the literature, we first critically review the concept, the roots and its associated mechanisms, which as we show, can be found in a family firm context in a unique manner. We then suggest that differences in family businesses performance are driven by the prevalence of feelings of psychological ownership. We break new ground by introducing a multilevel, both individual as collective, model of psychological ownership in family firms. Furthermore, we...

  17. Determinants of intellectual capital disclosure: evidence from Australia

    Bruggen, Alexander; VERGAUWEN, Philip; Dao, Mai
    Purpose - The purpose of this paper is to examine determinants of the decision to disclose intellectual capital in annual reports. Design/methodology/approach - The paper derives theoretical predictions from the previous literature and bases the study on archival data with a sample of 125 publicly listed Australian firms. The authors perform a content analysis of annual reports and complement the data with quantitative data from the sample firms. Findings - The paper finds that industry type plays a key role as a determinant for the disclosure of intellectual property in annual reports. In addition, firm size is another determinant for...

  18. Leeftijdsbewust sturen op personeel. Hoe mensen langer aan het werk houden?

    MARTENS, Hilda; LAMBRECHTS, Frank; MANSHOVEN, Joke

  19. Arbeid geleverd door een echtgenoot gehuwd onder het wettelijk stelsel en vergoedingen

    TORFS, Nan; VANDEMAELE, Sigrid
    Situatie - De zaak is een eenmanszaak - De zaak is een vennootschap - Clausules in het huwelijkscontract

  20. Handboek Financieel Beheer

    LAVEREN, Eddy; LIMERE, Arthur; VANDEMAELE, Sigrid; Engelen, Peter-Jan
    Dit handboek behandelt de belangrijkste vraagstukken inzake ondernemingsfinanciering (corporate finance). Zowel het aantrekken van financiële middelen (de financieringsbeslissing) als het aanwenden ervan (de investeringsbeslissing) komen ruim aan bod. Daarnaast wordt aandacht besteed aan de waardering van diverse financiële instrumenten en het gebruik ervan bij het risicobeheer. Bijzondere aandacht wordt besteed aan recente tendenzen zoals het belang van corporate governance, het gebruik van reële opties, de opkomst van business angels en de aandacht voor aandeelhouderswaarde. Het boek heeft de juiste mix van theoretische onderbouw en praktische toepasbaarheid door het geheel te illustreren aan de hand van cijfervoorbeelden en resultaten van empirisch...

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