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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.

Financing, entrepreneurship and reporting - Archive

Mostrando recursos 1 - 17 de 17

  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. The use of management control systems within family owned SMEs

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

  3. 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...

  4. 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...

  5. 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...

  6. 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...

  7. Constituent Lobbying towards the IASB: a multi-issue/multi-period analysis

    Jorissen, Ann; Lybaert, Nadine; Orens, Raf; Van Der Tas, Leo
    This paper tries to contribute to the research on lobbying by investigating the drivers of constituent lobbying towards the IASB by using a multi-issue/multi-period approach. The research data consists of 3423 comment letters sent to the IASB in the period 2002-2006(summer). The framework of analysis used in this study is the theoretical model developed by Elbannan and Mc Kinley(2006) combined with prior research results from the extant lobbying research. The results of this analysis provide evidence that the drivers of lobbying towards the IASB differ among the constituent parties. Users and stock exchanges engage significantly more in lobbying when disclosure...

  8. Analysts' earnings forecasts and non-financial disclosures

    Orens, Raf; Lybaert, Nadine
    In this study, I examine how analysts process nonfinancial information and how this is affected by the patterns of firms' non-financial information disclosures. More specifically, I examine the association between analyst earnings forecast errors and the persistence of nonfinancial disclosures, both across information content and over time. The study focuses on firms in the wireless industry for the period 1997-2007. The results show that analysts tend to underreact to the information contained in customer acquisition cost, average revenue per user, and the number of subscribers. These are the performance measures that have significant predictive ability for future earnings of wireless...

  9. A longitudinal analysis of constituent parties??? participation in the due process of international accounting standard setting: a comparative study over the period 1995-2007

    Jorissen, Ann; LYBAERT, Nadine; ORENS, Raf; Van Der Tas, Leo
    The IASC was founded in 1973 to develop a set of international accounting standards and to stimulate through its members worldwide accounting harmonization, but compliance with these international standards was still a voluntary decision. The decision to adopt IASs by the EU and other jurisdictions for their listed companies at the turn of the century has changed the status of these international accounting standards and resulted in a substantive reform of the organization structure of the IASC, which was accentuated by the introduction of the IASB as the successor of the IASC. The IASB now promulgates global standards, which have...

  10. Is social capital really intangible? Taking a relational practice perspective.

    Grieten, Styn; LAMBRECHTS, Frank
    In this paper, we gain insight into how intangible value drivers play a role and how social capital can be created in a process of organizational change. The building blocks of relational social capital are examined in closer detail. A Relational Practice Perspective puts concrete observable characteristics of social capital right in the middle of attention and offers a ???language??? to make intangible resources more visible and manageable. Concrete observable characteristics of relational practices are listed in a conceptual framework, allowing to grasp better the dynamics of interaction between actors. An in-depth comparative case study illustrates the Relational Practice Perspective...

  11. Building high quality relationships during organizational change: Transcending differences in a generative learning process.

    LAMBRECHTS, Frank; MARTENS, Hilda

  12. Estimating individual cash constraints using entropy econometrics

    D'ESPALLIER, Bert; PEETERS, Ludo; VANDEMAELE, Sigrid
    We estimate firm-specific cash-flow sensitivities of investment for a panel of manufacturing SMEs, using the generalized maximum entropy-estimator(GME). Since this estimator easily allows for slope heterogeneity, we no longer have to rely on ex-ante sample splitting, which has been common practice in this literature. The results show a wide variation in individual sensitivities in every year, demonstrating the relevance of estimating firm-specific coefficients rather than an aggregate coefficient for assumed sub-samples. On the basis of the distribution of estimated sensitivities, differences in financial profile and financing behaviour between high sensitivity firms and the remainder of the sample were analysed. The...

  13. Business Process Mining for Internal Fraud Risk Reduction: Results of a Case Study

    JANS, Mieke; LYBAERT, Nadine; VANHOOF, Koen
    Corporate fraud these days represents a huge cost to our economy. Academic literature merely concentrates on the fight against external fraud, while internal fraud also represents a huge cost to our economy. In this paper we discuss the use of process mining to reduce the risk of internal fraud. Process mining diagnoses processes by mining event logs. This way we can expose opportunities to commit fraud in the process design. We present a methodology as a complement to the internal control framework of the COSO and apply this methodology in a case company.

  14. Rapportering in de jaarrekening van ingekochte eigen aandelen door beursgenoteerde en niet-beursgenoteerde Belgische vennootschappen.

    MERCKEN, Roger
    De rapportering van het bezit van eigen aandelen in de jaarrekening van de onderneming blijft wat merkwaardige trekjes vertonen. Zoals kon verwacht worden op basis van vorige onderzoeken (Mercken, 1996 en Mercken, 2000) is het aantal Belgische ondernemingen dat op het einde van het boekjaar eigen aandelen bezit heel beperkt. Volgens de statistieken van de Balanscentrale van de Nationale Bank van Belgi?? beschikten op het eind van het boekjaar 2005 slechts 0.9 per duizend vennootschappen over eigen aandelen. Niet meer dan 274 van de 295 070 vennootschappen die hun jaarrekening bij de Balanscentrale neerlegden rapporteerden in 2005 dat eigen aandelen...

  15. Business Process Mining for Internal Fraud Risk Reduction: Results of a Case Study

    JANS, Mieke; LYBAERT, Nadine; VANHOOF, Koen
    Corporate fraud these days represents a huge cost to our economy. Academic literature merely concentrates on the fight against external fraud, while internal fraud also presents a huge cost to our economy. In this paper we discuss the use of process mining to reduce the risk of internal fraud. Process mining diagnoses processes by mining event logs. This way we can expose opportunities to commit fraud in the process design. We present a methodology as a complement to the internal control framework of the COSO and apply this methodology in a case company. For the moment the results still have to be...

  16. Blended maps and layered semantics for a tourist mobile guide

    LUYTEN, Kris; CONINX, Karin; HOUBEN, Geert; WINTERS, Frederik
    Nowadays, mobile applications are becoming more and more widespread, location-based services gain interest from users as well as service providers. In contrast with classical computing applications, location-aware services can contribute significantly to a richer user experience. Through the use of location-aware services the physical world can be enhanced by elements that are stored in a virtual world. Both worlds are aligned with each other by relating information artefacts from the virtual world with locations and areas in the physical world. We created a framework, ImogI, to support location-aware services centered on the principle of electronic mobile guides. Depending on the physical position of the user and...

  17. The determinants of collateral: a decision tree analysis of SME loans

    STEIJVERS, Tensie; VOORDECKERS, Wim; VANHOOF, Koen
    Previous empirical research has devoted little effort on the role and determinants of business collateral and personal commitments in the credit acquisition process, even though this is a common feature of small business credit contracts. We modelled the collateralisation decision as a two decision process by investigating the differences in the determinants of the collateral decision versus the determinants of the choice between business collateral and personal commitments. The analysis was performed by a decision tree analysis. In the classification models, we concentrate specifically on relationship characteristics. The results reveal that relationship characteristics have a significant influence but not always...

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