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Accounting 3

Actuarial Science 15

Finance 20

International Management 25

Management Informatics 33

Managerial Economics and Strategy 53

Marketing 67

Production and Operations Management 77

Organisation Studies 84

Quantitative Methods 93

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)DFXOW\�0HPEHUV Ann Gaeremynck, Chris Lefebvre, Filip Roodhooft, HylkeVandenbussche, Gustaaf Van Herck and Marleen Willekens.

$VVRFLDWH�)DFXOW\ Marcel Bellen, Yves Onkelinckx and René Vanderheiden.

9LVLWLQJ�)DFXOW\ Gunnar Wahlstrom, Joseph Vlaminckx.

$VVLVWDQWV Christina Achmadi, Eddy Cardinaels, Jorn De Boeck, ValerieNachtergaele, Vincent Thoen, Joke Vancoillie, HeidiVander Bauwhede, Sofie Van der Meulen, Cindy Vandoren,Bart Van Doveren and Katrien Verschueren.

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DEGRAEVE Z. and ROODHOOFT F., A mathematicalprogramming approach for procurement using activity basedcosting, -RXUQDO� RI� %XVLQHVV� )LQDQFH� � $FFRXQWLQJ��Volume 27,numbers 1&2, p.69-98, 2000.

In this paper we propose to use activity based costing information toselect several suppliers for several orders over a specific time horizon.This research is motivated by the fact that parts and components are

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mostly procured outside the company in the open market. Moreover, inindustrialized countries a general shift has been observed away from avertical integration strategy towards a focused strategy on the corebusiness of the company. In the face of growing global competition andthe demands that this places on the management of resources,companies are forced to take advantage of any opportunity to improvetheir resource utilization.

DEGRAEVE Z., LABRO E. and ROODHOOFT F., An evaluationof vendor selection models from a total cost of ownershipperspective, (XURSHDQ� -RXUQDO� RI� 2SHUDWLRQDO� 5HVHDUFK�Volume125, p. 34-58, 2000.

Many different vendor selection models have been published in thepurchasing literature. However there has been no systematic approachto compare the relative efficiency of the systems. In this paper wepropose to use the concept of Total Cost of Ownership as a basis forcomparing vendor selection models. We illustrate the comparison witha real life data set of the purchasing problem of ball bearings atCockerill Sambre, a Belgian multinational company in the steelindustry. From a Total Cost of Ownership perspective mathematicalprogramming models outperform rating models and multiple itemmodels generate better results than single item models for this specificcase study.

DEGRAEVE Z., ROODHOOFT F. and VAN DOVEREN B., Eenalgemeen beslissingsondersteunend systeem voor strategischaankoopbeleid gebaseerd op total cost of ownership informatie,7LMGVFKULIW�YRRU�(FRQRPLH�HQ�0DQDJHPHQW��Volume XLV, number3, p. 309-338, 2000.

Voor vele ondernemingen maken de externe aankopen het belangrijkstedeel van de totale kosten uit. Bovendien blijkt outsourcing steeds meeraan belang te winnen. Toch bemerken we, zowel in dewetenschappelijke literatuur als in de praktijk, dat weinig aandachtgeschonken wordt aan accurate en objectieve methodes om leverancierste selecteren. In deze bijdrage stellen we een beslissingsmodel voor dattoelaat leveranciers te selecteren op basis van total cost of ownershipinformatie. Het mathematisch programmeringsmodel laat toe tebepalen welke hoeveelheid van welke producten op welk moment bijwelke leverancier dient aangekocht te worden zodat de total cost ofownership wordt geminimaliseerd, gegeven de relevante beperkingen.Het model houdt rekening met de kostenstructuur van de aankopendeonderneming en de specifieke prestaties van de verschillende mogelijkeleveranciers. Implementaties bij Cockerill Sambre tonen eengemiddelde vermindering in total cost of ownership van bijna 10%.

EECKLOO K., VAN HERCK G., VAN HULLE C. enVLEUGELS A., Ziekenhuisbeheer vandaag in Vlaanderen:resultaten van een enquête, $FWD�+RVSLWDOLD��Nummer 2, p. 63-81,2000.

Ter voorbereiding op het ‘governancemodel voor ziekenhuizen’organiseerde het Centrum voor Ziekenhuis- en Verplegingswetenschap

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begin 2000 een enquête omtrent de beheersstructuur van de Vlaamsebicommunautaire ziekenhuizen. Aan de hand van een gedetailleerdevragenlijst werd gepeild naar de feitelijke organisatie van hetziekenhuisbestuur. In dit artikel worden de resultaten van de enquêtesamengevat. Daarbij wordt tevens een vergelijking gemaakt met deresultaten van een gelijkaardig onderzoek uit 1994 (Van Herck &Coucke, 1995). Toen lag de klemtoon op de verschillen in debeheersstructuur van openbare en private ziekenhuizen. De huidigeenquête vertrekt van dezelfde basisvragen en bevat daarenboven eenaantal specifieke vragen inzake de participatie van de ziekenhuisartsenaan het ziekenhuisbestuur. Achtereenvolgens komen aan bod: situeringvan ziekenhuizen, beheersstructuur en beheersorganen, bevoegdheids-verdeling en typering van de relatie tussen het beheer en de medischestaf. Afsluitend volgen enkele bevindingen uit de opinievragen.

HUYGHEBAERT N., GAEREMYNCK A., ROODHOOFT F. andVAN DE GUCHT L., New firm survival: The effects of start-upcharacteristics, -RXUQDO�RI�%XVLQHVV�)LQDQFH��$FFRXQWLQJ��Volume27, numbers 5&6, p. 627-651, 2000.

The purpose of this paper is to determine empirically the influence ofoperating activities and financial and investment decisions in the start-up year on post-entry survival. In other words, we examine whether thestart-up manner influences the survival of new firms. The existingliterature suggests that, compared to traditional financial ratios, fundsflow measures may be better suited for this purpose for several reasons.We test whether funds flow measures are superior for predicting thepost-entry survival of new firms by estimating two models. A firstmodel only uses funds flow variables while a second combines fundsflow measures and traditional financial ratios.

PAUWELS W., VANDENBUSSCHE H. and WEVERBERGH M.Strategic Behaviour under European Antidumping duties,,QWHUQDWLRQDO� -RXUQDO� RI� WKH� (FRQRPLFV� RI� %XVLQHVV, Volume 8,Nummer 1, p. 79-103, 2000.

In this paper we develop a dynamic two-period model of imperfectcompetition to analyse the effects of European antidumping duties onfirm behaviour and domestic welfare. We arrive at three importantconclusions: (a) the strategic behaviour of European firms underEuropean antidumping rules may run in the opposite directioncompared to the incentives for US firms provided under the USantidumping rules; (b) US antidumping rules perform better thanEuropean rules in terms of domestic welfare and in terms of protectingdomestic value added and employment; (c) the Strategic Trade Policyargument for protection need not apply for antidumping duties becausethe level of protection is endogenously determined by the firmsinvolved.

VANDENBUSSCHE H., Trade Policy Versus Competition Policy:substitutes or complements?, 'H�(FRQRPLVW, 148, nr. 5, p. 625-641,2000.


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This paper deals with the difference between trade policy andcompetition policy for domestic prices, wages and employment whenproduct and labour markets are imperfectly competitive. We show thatin the presence of country specific institutions like trade unions, tradepolicy and competition policy are no longer substitutes in discipliningproduct and labour market distortions. While both domestic entry andforeign imports affect domestic price-cost margins, they differ in theireffectiveness and their impact on the domestic labour market. Theresults in this paper suggest that enforcement of competition policywithout a sufficient degree of openness to imports is typically not a firstbest outcome. While domestic entry increases union welfare, foreignimports reduce it. Competition policy in the presence of labour unionsis insufficient to reduce labour market distortions, while internationalcompetition reduces both labour and product market distortions.

VANDER BAUWHEDE H., GAEREMYNCK A. andWILLEKENS M., Drijfveren voor winstmanagement voorBelgische beurs- en niet-beursgenoteerde bedrijven, 7LMGVFKULIWYRRU�(FRQRPLH�DQG�0DQDJHPHQW, XLV, 3, 367-386, 2000.

VANDER BAUWHEDE H. and WILLEKENS M., EarningsManagement and Institutional Differences: Literature review anddiscussion, 7LMGVFKULIW� YRRU�(FRQRPLH� DQG�0DQDJHPHQW, XLV, 2,189-212, 2000.

VAN HERCK G., De beheersovereenkomst als sluitsteen van hetgovernancemodel voor ziekenhuizen,�$FWD�+RVSLWDOLD��Nummer 2,p. 35-47, 2000.

De beheersovereenkomst in het kader van het governancemodel datwerd voorgesteld in dit tijdschrift is een contract van bepaalde duurtussen AV, Raad van Beheer en Medische Raad waarin een gezamenlijktoekomstproject voor het ziekenhuis wordt vastgelegd. Verschillendepartijen verbinden zich ertoe de inhoud van deze overeenkomst terealiseren. In deze tekst worden voorstellen van inhoud van dezeovereenkomst gemaakt.

VAN HULLE C., EECKLOO K., VAN HERCK G. andVLEUGELS A., Voorstel van governancemodel voor ziekenhuizen,$FWD�+RVSLWDOLD��Nummer 2, p. 7-25, 2000.

Dit artikel formuleert een governancemodel voor ziekenhuizenuitgaande van de typische governanceproblemen van dezezorgorganisaties. Ook evalueert het artikel meerdere modificaties enalternatieven en beschouwt het enkele mogelijke implementatie-problemen.

VAN HULLE C., EECKLOO K., VAN HERCK G. andVLEUGELS A., Voorstel van gedragscode voor ziekenhuizen, $FWD+RVSLWDOLD��Nummer 2, p. 25-35, 2000.

Dit artikel formuleert een voorstel van gedragscode voor ziekenhuizen.Het voorstel stoelt op de logica van het model geformuleerd in Van


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Hulle e.a. (2000) en beoogt een aantal aanbevelingen aan te reiken diehet transparant functioneren van direct bij het beleid betrokken organenkunnen ondersteunen. Meer specifiek wordt nagestreefd bij te dragentot duidelijke afspraken, degelijke informatiedoorstroming, goedecommunicatie en duidelijke vastlegging van verantwoordelijkheden.De lijst van aanbevelingen betreft een code omtrent taken en regels vaninterne werking en beoogt op generlei wijze een opsomming te gevenvan de wettelijke verplichtingen die deze organen behoren na te leven.Net zoals het model in Van Hulle (2000), kunnen deze regels ookstapsgewijs en afhankelijk van de situatie van het ziekenhuis wordeningevoerd.

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GAEREMYNCK A. and WILLEKENS M., Zit er nog informatie inde jaarrekening? %XVLQHVV�,Q]LFKW, Juni, 2000.

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CARDINAELS E., ROODHOOFT F. and WARLOP L., Benefitsof customer profitability analysis reports in repeated budgetallocation decision making, EIASM conference, Brussels, 14-16December 2000.

DEGRAEVE Z., LABRO E. and ROODHOOFT F., Constructing aTotal Cost of Ownership supplier selection methodology based onActivity Based Costing and mathematical programming, EIASMconference, Brussels, 14-16 December 2000.

GAEREMYNCK A. and WILLEKENS M., The SimultaneousRelation between Audit Report Type and Business Termination:Evidence for Non-Listed Companies in a Non-Litigious AuditEnvironment’; presented at the 23nd Annual congress of theEuropean Accounting Association; European AccountingAssociation, München, Deutschland, 29-31 March 2000 and at theAnnual Conference of the European Finance Association 2000;European Finance Association and London Business School;London Business School, London, U.K., 24-26 August, 2000.

ROODHOOFT F. and DEGRAEVE Z., A generic decision supportsystem for strategic procurement based on Total Cost of Ownershipinformation, Proceedings of the 9th International Annual IPSERAConference, May 2000.

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VANDER BAUWHEDE H., WILLEKENS M. andGAEREMYNCK A., Income Smoothing and EarningsManagement in Public vs. Private Companies: Some Evidencefrom Belgium, 23nd Annual congress of the European AccountingAssociation; European Accounting Association, München,Deutschland; 29-31 March 2000.

WILLEKENS M., Discussion of ‘Accounting Information, InvestorBehavior and Market Efficiency’ by EKHOLM A., DoctoralTutorial in Finance; European Finance Association and EuropeanInstitute of Advanced Studies in Management; London BusinessSchool, London, U.K., 23 August 2000.

WILLEKENS M., Discussion of ‘A Strategic Analysis of SAS No.82 on auditee and Auditor Decisions’, International Symposium ofAuditing Research, The University of Southern California,University of Maastricht, The Nanyang Technological University,the University of New South Wales, Maastricht, The Netherlands,6-7 July 2000.

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GAEREMYNCK A. and WILLEKENS M., The simultaneousrelation between audit report type and business termination:evidence for non-listed companies in a non-litigious environment,presented at the European Finance Association, London, August2000 and at the 23th annual congress EAA, München, 29-31 March2000.

VANDENBUSSCHE H., Soft Budget Constraints and EU importprotection, Dartmouth College, NH, USA, 2000 June.

VANDENBUSSCHE H., Undertakings and firms’ strategic choiceof quality, European Trade Study Group conference, Glasgow:plenary session, September 2000.

VANDER BAUWHEDE H., and WILLEKENS� M�� andGAEREMYNCK� A., Income Smoothing and EarningsManagement in Public versus Private Companies: some evidencefrom Belgium, paper presented at the 23rd Annual Congress of theEuropean Accounting Association, Munich, Germany, 29-31 March2000.


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GAEREMYNCK A., Het jaarrekeningenbeleid en het gebruik vanfinanciële informatie voor beslissingen in ondernemingen,Vliebergh-Senciecentrum, 20 maart 2000.

VAN HERCK G., Bedrijfsrevisoraat in het rust- enverzorgingstehuis, Salons de Romree, Grimbergen, 30 november2000.

VANDER BAUWHEDE H., WILLEKENS� M�� andGAEREMYNCK� A., Income Smoothing and EarningsManagement in Public versus Private Companies: some evidencefrom Belgium, paper presented at the Workshopdag Accounting,K.U.Leuven, March 2000.

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CARDINAELS E., ROODHOOFT F. and WARLOP L., Benefitsof customer profitability analysis reports in repeated budgetallocation decision making� 5HVHDUFK� 5HSRUW� '7(:�� .�8�/HXYHQ�

nr� 0037, 24 p., 2000.

We study how decision makers learn to improve performance acrossrepeated budget allocation decisions. The costing system they useshould be able to provide information that is of incremental value overmere outcome feedback. We report an experiment demonstrating thatcustomer profitability analysis (CPA) using activity based costingfacilitates learning of the most appropriate allocation of a marketingbudget among customers. In a difficult learning environment,participants receiving CPA information made closer-to-optimal budgetallocation decisions, resulting in higher cumulative profits compared tosubjects receiving traditional accounting reports. In easier learningenvironments, CPA yielded a smaller additional benefit over atraditional costing system combined with outcome feedback.

DEGRAEVE Z., LABRO E. and ROODHOOFT F., Constructing aTotal Cost of Ownership supplier selection methodology based onActivity Based Costing and mathematical programming� 5HVHDUFK5HSRUW�'7(:��.�8�/HXYHQ��nr� 0036, 33 p., 2000.

In this paper we elaborate on a Total Cost of Ownership supplierselection methodology that we have constructed using three real lifecase studies which are presented in this article. Analysing the valuechain of the firm, data on the costs generated by the purchasing policyand on supplier performance are collected using Activity Based Costing(ABC). Since a spreadsheet cannot encompass all these costs, let aloneoptimise the supplier selection and inventory management policy, amathematical programming model is used. Possible savings of between6 and 14% are obtained for the three cases.

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DEGRAEVE Z., LABRO E. and ROODHOOFT F., Total Cost ofOwnership Purchasing of a Service: The Case of Airline Selectionat Alcatel Bell�5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0011, 39p., 2000.

The multiple objective problem of purchasing for business falls into twobroad categories: the purchasing of components for manufacturing andthe purchasing of services. Several supplier selection models have beensuggested in the literature for the purchasing of production-relatedcomponents. To our knowledge, no supplier selection model for thepurchasing of services has been published. In this paper we elaborateon a mathematical programming model that selects suppliers of amultiple item service and simultaneously determines market shares ofthe suppliers selected. The methodology is based on the collection ofTotal Cost of Ownership (TCO) information, quantifying all the costsassociated with the purchasing process throughout the entire valuechain of the firm. We apply this methodology to the real life case studyof selecting airlines for 56 destinations at Alcatel Bell and haveobtained TCO savings of 19.5%.

DEGRAEVE Z. and ROODHOOFT F., The Use of Total Cost ofOwnership for Strategic Procurement: A Company-wideManagement Information System,� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0052, 28 p., 2000.

We present a general company-wide management information systemfor defining procurement strategies. We believe that existing practicesfor determining purchasing strategies can be improved and develop anew approach. The system uses total cost of ownership information.We argue that mathematical programming models should be used forexploiting this information when evaluating the firm’s strategicprocurement options. Our research method corresponds to theinnovation action research concept. Implementations at Usinor, aEuropean multinational steel company, validate our approach byshowing an average reduction in total cost of ownership of about 10%for the different product groups considered.

KONINGS J. and VANDENBUSSCHE H., The Adjustment ofFinancial Ratios in the presence of Soft Budget Constraints:evidence from Bulgaria��5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr�0041, 20 p., 2000.

This paper is the first to study the behaviour of financial ratios in aCentral European country. Using the entire population of companyaccounts in Bulgaria we find that for the financial ratios we considered,adjustment towards an industry target takes place but is significantlylower than that for Western companies reported in earlier studies. Wefind the adjustment of financial ratios in Bulgaria to be slowest in thosefirms, characterised by Soft budget constraints, which is a widespreadphenomenon in Central Europe. We also find that the speed ofadjustment is not significantly different between quoted and unquotedBulgarian firms. This could be explained by the virtual inexistence ofequity markets.JEL-classification: M41, C23.


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Keywords: financial ratios; Soft Budget Constraints; Bulgaria.

VAN DE GUCHT L., KONINGS J. and ROODHOOFT F.,Defining Firm Exit: The Impact of Size and Age Revisited5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0014, 27 p., 2000.

This paper demonstrates that (1) the negative relationship betweeninitial firm size and failure probability, and (2) the aging pattern of thefailure rate are sensitive to the adopted definitions of entry and exit.We use two definitions to measure the timing of entry and exit: aneconomic definition, based on employment levels, and a legaldefinition, based on the firm’s legal status. While initial size isnegatively related to the exit rate under the economic definition, therelation becomes positive under the legal definition. The aging effect ismuch steeper under the legal than under the economic definition.JEL classifications:�*��/��&��

VANDER BAUWHEDE H., WILLEKENS M. andGAEREMYNCK A., Audit Quality, Public Ownership and Firms’Discretionary Accruals Management�� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0053, 41 p., 2000.

Francis et al. (1999) and Becker et al. (1998) report evidence that auditquality acts as a constraint on both income-increasing and income-decreasing earnings management in public firms. These results raiseseveral interesting questions. First, are incentives for and constraints onearnings management independent of whether earnings are above orbelow target? Second, does audit quality also restrain earningsmanagement in private firms as it does in public firms? Third, doespublic ownership itself act as a constraint on earnings management?One could argue that, relative to private ownership, public ownershipincreases the scrutiny of a firm’s financial statements which may in turnrestrain a firm’s earnings-management behavior.Accordingly, we study publicly available financial statements of amatched sample of public and private Belgian firms. Following Franciset al. 1999, DeFond and Subramanyam 1998, Becker et al. 1998, we usediscretionary accruals as a measure of earnings management. Onefinding is that audit quality and public ownership act as constraints onincome-GHFUHDVLQJ earnings management. We also find that, to a largeextent, public ownership and auditor type are substitutes: for example, afirm that is both public and big-6-audited typically does not show morerestraint in earnings management than a firm that has only one of thesecharacteristics. Lastly, we do not have any evidence that audit qualityand public ownership constrain income-LQFUHDVLQJ earningsmanagement.Thus, our study contributes to the literatures on audit qualitydifferentiation and especially earnings management. First, we providesupportive evidence of audit quality differentiation between Big 6 andnon-Big 6 auditors in the SULYDWH clients segment of the audit market.Second, we provide evidence on differences in the level of discretionaryaccruals between public and private firms.Key Words: Audit Quality, Discretionary Accruals, EarningsManagement, Governance.


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WILLEKENS M., DRIES R. and VAN BRUSSEL L., HandboekAuditing, Uitgeverij Intersentia, 336 p., 2000.

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GAEREMYNCK A. and WILLEKENS M., Het inschatten van dekans op faillissement van een eerste balans en de bijdrage van derevisor bij het voorspellen van stopzettingen, Koop Nu, BetaalNooit,�Bouwstenen voor een nieuw kredietmanagement, 164 blz,p. 75-92, Uitgeverij Acco, 2000.

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VANDENBUSSCHE H., member of the Editorial Panel of(FRQRPLF�3ROLF\, 2000-2003.

VAN HERCK G., lid kernredactie $FWD�+RVSWDOLD.

WILLEKENS M, member of the Editorial Board of ,QWHUQDWLRQDO-RXUQDO�RI�$XGLWLQJ, since October 1995.

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)�:�2�, A decision support system for strategic procurement basedon Total Cost of Ownership information, 2000 - 2003.Promotors: ROODHOOFT F. and DEGRAEVE Z.

)�:�2�, Exit and survival of new firms, 1996 - 2000.Promotors: ROODHOOFT F., KONINGS J., SLEUWAEGEN L.and VAN DE GUCHT L.

)�:�2�� SURMHFW� *�� The impact of the EuropeanCompetition Policy on the Evolution of Market Structure and FirmGrowth, 1 January 1997 - 1 January 2001.Promotors: PAUWELS W. (UFSIA) with VANDENBUSSCHE H.,VAN CAYSEELE P. and KONINGS J.

)�:�2�� SURMHFW� *��, Product Differentiation and Pricing inthe Belgian Audit Market, 1 January 2000 – 31 December 2002.Promotor: WILLEKENS M. with GAEREMYNCK A. andVEUGELERS R.

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13

In de Belgische auditmarkt is er nog maar weinig onderzoek gebeurdnaar de informatiewaarde van het auditrapport, de kwaliteits- enprijsdifferentiatie in de auditmarkt. Relevante vragen, die daarbij aanbod zullen komen, zijn onder andere: wat bepaalt de fee van de revisor,heeft het auditrapport informatiewaarde voor het voorspellen vanfalingen? Houdt de revisor bij het bepalen van zijn fee rekening met dekans op winstmanipulatie?

)�:�2�� SURMHFW� *��, Soft Budget Constraints and FirmPerformance, January 2001 – 2004.Promotors: VANDENBUSSCHE H. and KONINGS J.

27, A decision support system for strategic procurement based onTotal Cost of Ownership information, 2000-2003.Promotors: ROODHOOFT F. and DEGRAEVE Z.

27, Exit and survival of new firms, 1996-2000.Promotors: ROODHOOFT F., KONINGS J., SLEUWAEGEN L.and VAN DE GUCHT L.

9LRQD, Entry and exit of Flemish companies and the influence onjob destruction and job creation: regional effects and industrydifferences, 1998-2000.Promotors: ROODHOOFT F., KONINGS J. and VAN DE GUCHTL.

95:%��Het ontwikkelen van een deflator voor de O&O uitgaven,februari 1999- juli 2000,Promotor: GAEREMYNCK A.;Commissieleden: ROODHOOFT F., VEUGELERS R., VANHULLE C.

Voor het inschatten van de reële bestedingsmogelijkheden van O&Owordt de BNP deflator gebruikt. O&O uitgaven totaal anderssamengesteld (meer lonen, hoger gekwalificeerd personeel) zodat hetontwikkelen van een specifieke prijsdeflator aangewezen is om de echtebestedingsmogelijkheden te kennen. De doelstelling van dit onderzoekis een dergelijke deflator te ontwikkelen voor zowel de universiteitenals de bedrijven.

:7&%� The determinants of failure: qualitative analysis, 1999-2000.Promotors: ROODHOOFT F. and SELS L.

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DEGRAEVE Z. and ROODHOOFT F., holders of the ArthurAndersen Chair in Purchasing and Supply Management.

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VANDENBUSSCHE H., Visiting Professor, Dartmouth College,New Hampshire, Hanover, US, 1 April 2000-31 July 2000.

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WILLEKENS M. en SERCU P. (co-chairs), Organisatoren van dePwC-leerstoel ‘Value and Risk’ seminariereeks 2000-2001: 9november 2000: Value and Risk: The challenges; 22 februari 2001:Value and Risk: Corporate Reporting Revisited; 31 mei 2001:Value and Risk: E-conomics of trust.

WILLEKENS. M., Organisator van de ‘K.U.Leuven WorkshopdagAccounting Research’, 24 maart 2000. Dit is een conferentie vanéén dag, waarop vijf onderzoekspapers werden gepresenteerd doorzowel binnenlandse als buitenlandse accountingonderzoekers.Voor elke paper werd ook een discussant aangesteld.

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GAEREMYNCK A., mede-organisator workshopdag accounting .

VANDENBUSSCHE H., Scientific Committee member ofEuropean Trade Study group (ETSG) funded by the EuropeanScience Foundation (ESF).

WILLEKENS M. en SERCU P, Leerstoelhouders van PwC-leerstoel Value & Risk, Inauguratie 27 april 2000.

WILLEKENS M., Stichtend lid van EARNet (European AuditResearch Network) in 2000; Lid van de American AccountingAssociation; Lid van de European Accounting Association.

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)DFXOW\�0HPEHUV� Marc Goovaerts and Jan Dhaene.

$VVRFLDWH�)DFXOW\� Hugo Clemeur.

9LVLWLQJ�)DFXOW\ Thierry Bauwelinckx (RUCA, AT&B), Floriaen De Vylder (UniversiteitAmsterdam), Robert Kaas (Universiteit Amsterdam), Martine VanWouwe (UFSIA).

$VVLVWDQWV� Petra Haesendonckx, Hendrik Redant, Peggy Van de Perre, StevenVanduffel, David Vyncke.

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DHAENE J., GOOVAERTS M.J. and KAAS R., Discussion ofSelf-annuization and ruin in retirement by MILEVSKI M.A. andROBINSON C., 1RUWK�$PHULFDQ�$FWXDULDO�-RXUQDO, Volume 4(4),124-126, 2000.

GOOVAERTS M., DHAENE J. and DE SCHEPPER A.,Stochastic upper bounds for present value functions, The Journal ofRisk and Insurance, 67(1), 1-14, 2000.

KAAS R., DHAENE J. and GOOVAERTS M.J., Upper and lowerbounds forums of random variables, IME 22, p. 151-168, 2000.

SIMON S., GOOVAERTS M.J. and DHAENE J., An easycomputable upper bound for the price of an arithmetic Asianoption, Insurance: Mathematics & Economics, 26(2-3), 175-184,2000.


DHAENE J., VANNESTE M. and WOLTHUIS H., A note ondependencies in multiple life statuses, Mitteilungen der Schweiz,Aktuarvereinigung, 2000(1), 19-34, 2000.

DHAENE J., WANG S., YOUNG V.R. and GOOVAERTS M.J.,Comonotonicity and maximal stop-loss premiums, Bulletin of theSwiss Association of Actuaries, 2000(2), 99-113, 2000.



DHAENE J. and DENUIT M., Metrics and orderings of convex –type, 4th International Congress on Insurance: Mathematics &Economics, Barcelona, 24-26 July 2000.

DHAENE J., KAAS R. and GOOVAERTS M.J., Upper and lowerbounds for sums of random variables, 4th International Congress onInsurance: Mathematics & Economics, Barcelona, 24-26 July 2000.

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DHAENE J., GOOVAERTS M.J., VANDENBORRE E. andREDANT H., Some remarks on IBNR evaluation techniques,presented at the ASTIN Colloquium, Porto Servo, Sardinië, 17-20September 2000.

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GOOVAERTS M.J., De nieuwe boekhoudkundige normen,studiedag CED Samson, 16 mei 2000.

DHAENE J. and GOOVAERTS M.J., Exploiter les meilleurs outilsd’ evaluation des provisions et engagements, Brussels, 23 juni,2000.


COSSETTE H., DENUIT M., DHAENE J. and MARCEAU E.,Stochastic Approximations of Present Value Functions, 5HVHDUFK5HSRUW�'7(:��.�8�/HXYHQ��nr� 0001, 16 p., 2000.

The aim of the paper is to apply the method proposed by Denuit, Genestand Marceau (1999) for deriving stochastic upper and lower bounds onthe present value of a sequence of cash flows, where the discounting isperformed under a given stochastic return process. The convexapproximation provided by Goovaerts, Dhaene and De Schepper (1999)and Goovaerts and Dhaene (1999) is then compared to these stochasticbounds. On the basis of several numerical examples, it will be seen thatthe convex approximation seems reasonable.Keywords: Dependence, Stochastic Dominance, Stochastic Annuities

DENUIT M. and DHAENE J., Bonus-malus scales usingexponential loss functions, 'LVFXVVLRQ� 3DSHU� �� ,QVWLWXW� GH6WDWLVWLTXH��8QLYHUVLWp�&DWKROLTXH�GH�/RXYDLQ� 2000, 16 p.

DENUIT M., DHAENE J. and RIBAS C., Does PositiveDependence between Individual Risks increase Stop-LossPremiums?, 5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ�� nr� 0048, 8 p.,2000.

Actuaries intuitively feel that positive correlations between individualrisks reveal a more dangerous situation compared to independence. Thepurpose of this short note is to formalize this natural idea. Specifically,it is shown that the sum of risks exhibiting a weak form of dependenceknown as positive cumulative dependence is larger in convex order thanthe corresponding sum under the theoretical independence assumption.Keywords: dependence, risk theory, convex order.

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GOOVAERTS M.J., DHAENE J., VANDEN BORRE E. andREDANT H., Some remarks on IBNR evaluation techniques�5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0050, 9 p., 2000.

In this short note we give some comments and general remarks on themethodology of IBNR computations, as presented at the workshop onIBNR computations at the 2000 ASTIN Meeting, Porto Cervo, Sardinia.

KAAS R., DHAENE J. and GOOVAERTS M.J., Upper and LowerBounds for Sums of Random Variables� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0049, 30 p., 2000.

In this contribution, the upper bounds for sums of dependent randomvariables ;1 + ;2 + … + ; n derived by using comonotonicity aresharpened for the case when there exists a random variable = such thatthe distribution functions of the ;i, given =�= ], are known. By a similartechnique, lower bounds are derived. A numerical application for thecase of lognormal random variables is given.

VYNCKE D., GOOVAERTS M. and DHAENE J., Convex Upperand Lower Bounds for Present Value Functions� 5HVHDUFK� 5HSRUW'7(:��.�8�/HXYHQ��nr� 0025, 18 p., 2000.

In this paper we present an efficient methodology for approximating thedistribution function of the net present value of a series of cash-flows,when the discounting is presented by a stochastic differential equationas in the Vasicek model and in the Ho-Lee model. Upper and lowerbounds in convexity order are obtained. The high accuracy of themethod is illustrated for cash-flows for which no analytical results areavailable.


DHAENE J., VERLINDEN A., Actuariële aspecten vanaanvullende pensioenen, in 3UDNWLMNJLGV� $DQYXOOHQGH� %HGULMIV�

SHQVLRHQHQ, redactie GOOVAERTS M. en BAUWELINCKX T.,Ced-Samson, Wolters Kluwer, 2000, 161-216.


DHAENE J., Co-Editor of the %HOJLDQ�$FWXDULDO�%XOOHWLQ��AssocateEditor of ,QVXUDQFH��0DWKHPDWLFV��(FRQRPLFV.

GOOVAERTS M.J., editor of the -RXUQDO� RI� &RPSXWDWLRQDO� DQG$SSOLHG�0DWKHPDWLFV, since 1975; associate editor of $VWLQ�%XOOHWLQ,since1981; editor of ,QVXUDQFH�0DWKHPDWLFV�DQG�(FRQRPLFV, since1992.


/5', Actuariële divisie, (Fortis, ING, KBC, Bank van Breda,Cobac), 1987-now.Promotors: GOOVAERTS M.J. and DHAENE J.

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27��2QGHU]RHNVUDDG�.�8�/HXYHQ��Actuariële Aspecten voorafhankelijkheden in Verzekeringsportefeuilles, 1997 – 2001.Promotors: GOOVAERTS M.J. and DHAENE J.


GOOVAERTS M.J., Organisation of the Nineth InternationalCongress on Computational and Applied Mathematics, Leuven,July 2000.


DHAENE J., member of the information and organisationcommittee of 5R\DO� 6RFLHW\� RI� %HOJLDQ� $FWXDULHV; member of thecommittee ‘International Affairs’ of the 5R\DO� 6RFLHW\� RI� %HOJLDQ$FWXDULHV; Belgian representative in the ‘education committee’ ofthe ,QWHUQDWLRQDO�$FWXDULDO�$VVRFLDWLRQ.

GOOVAERTS M.J., lid Bureau Onderzoeksraad

GOOVAERTS M.J., member of the scientific committee of the,QWHUQDWLRQDO�&RQJUHVV�RQ�,0(, Barcelona, July 2000.




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)DFXOW\�0HPEHUV Auke Jongbloed, Linda Van de Gucht, Cynthia Van Hulle and LambertVanthienen

$VVRFLDWH�)DFXOW\ Constant Beckers,

9LVLWLQJ�)DFXOW\ Luc Keuleneer (Deloitte & Touche), Rudi Merckx (BuhrmannEuropcenter), Henry Servaes (London Business School) and KristiaanVander Velpen (Generale Bank).

$VVLVWDQWV Nico Dewaelheyns, Marie Dutordoir, Inez Hamaekers, NancyHuyghebaert, Evy Tielemans, Isabel Roeykens, Frederiek Schoubben,Kris Van Hamme, Bert Verelst and Sven Verhasselt.

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BECKERS S., The Manager Beauty Contest: Do the FiguresMatter? -RXUQDO�RI�$VVHW�0DQDJHPHQW� Vol 1, No 1, p.7 – 18, July2000.

BECKERS S. and GATMANN U., Insider Trading: Follow thatlead!, -RXUQDO�RI�,QYHVWLQJ, 9, 3, p.15-18, 2000.

EECKLOO K., VAN HERCK G., VAN HULLE C. enVLEUGELS A., Ziekenhuisbeheer vandaag in Vlaanderen:resultaten van een enquête, $FWD�+RVSLWDOLD��Nummer 2, p. 63-81,2000.

Ter voorbereiding op het ‘governancemodel voor ziekenhuizen’organiseerde het Centrum voor Ziekenhuis- en Verplegingswetenschapbegin 2000 een enquête omtrent de beheersstructuur van de Vlaamsebicommunautaire ziekenhuizen. Aan de hand van een gedetailleerdevragenlijst werd gepeild naar de feitelijke organisatie van hetziekenhuisbestuur. In dit artikel worden de resultaten van de enquêtesamengevat. Daarbij wordt tevens een vergelijking gemaakt met deresultaten van een gelijkaardig onderzoek uit 1994 (Van Herck &Coucke, 1995). Toen lag de klemtoon op de verschillen in de

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beheersstructuur van openbare en private ziekenhuizen. De huidigeenquête vertrekt van dezelfde basisvragen en bevat daarenboven eenaantal specifieke vragen inzake de participatie van de ziekenhuisartsenaan het ziekenhuisbestuur. Achtereenvolgens komen aan bod: situeringvan ziekenhuizen, beheersstructuur en beheersorganen,bevoegdheidsverdeling en typering van de relatie tussen het beheer ende medische staf. Afsluitend volgen enkele bevindingen uit deopinievragen.

HUYGHEBAERT N., GAEREMYNCK A., ROODHOOFT F. andVAN DE GUCHT L., New Firm Survival: A Funds Flow ModelApproach, -RXUQDO� RI� %XVLQHVV� )LQDQFH� DQG� $FFRXQWLQJ 27, 627-651, 2000.

This paper empirically examines the influence of operating activitiesand financial and investment decisions in the start-up year on post-entrysurvival, taking industry effects into account. Compared to traditionalfinancial ratios, we find that funds flow measures are superior inidentifying those start-up characteristics that are related to subsequentfailure. In the first year, failed firms typically generate less cash flows,incur higher labour expenses, use more trade credit and financial debt,limit inventories and are cash constrained. Surprisingly, industryeffects do not have a significant impact. From these results, we drawconclusions for public policy.

VAN HULLE C., EECKLOO K., VAN HERCK G. andVLEUGELS A., Voorstel van governancemodel voor ziekenhuizen,$FWD�+RVSLWDOLD��Nummer 2, p. 7-25, 2000.

Dit artikel formuleert een governancemodel voor ziekenhuizenuitgaande van de typische governanceproblemen van dezezorgorganisaties. Het model is modulair opgebouwd en kan stapsgewijsworden ingevoerd; ook de specifieke invulling kan van instelling totinstelling verschillen. De logica van het model is gestoeld op een betereexplicitering van de maatschappelijke visie en daarmee consistenteoperationele doelstellingen, aan de hand van een beheersovereenkomstwaar de Algemene Vergadering, de Raad van Beheer, het managementen de artsen zich achter kunnen scharen. De Raad van Beheer wordteen objectief raadsheer en professioneel toezichtsorgaan dat toeziet opeen evenwichtige uitvoering van deze overeenkomst. In het (volledige)voorstel neemt deze Raad de rol van de externe bemiddelaar over.Naast taken zoals goedkeuring van de rekeningen, aanstellen enontslaan van beheerders levert de Algemene vergadering in de eersteplaats een vooraanstaande bijdrage tot de maatschappelijke verankeringen legitimering van de ziekenhuisdoelstelling, en wordt via deAlgemene Vergadering de beïnvloeding door de maatschappijgestructureerd. Binnen de schoot van een Executieve (= directiecomité)geven management en artsen gezamenlijk gestalte aan het beleid.Belangrijke principes die in het model worden gehanteerd omvatten hetvermijden van taakvermenging, een duidelijke toewijzing vanverantwoordelijkheden, een goede informatiedoorstroming encommunicatie. Ook evalueert het artikel meerdere modificaties enalternatieven en beschouwt het enkele mogelijkeimplementatieproblemen.

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VAN HULLE C., EECKLOO K., VAN HERCK G. andVLEUGELS A., Voorstel van gedragscode voor ziekenhuizen, $FWD+RVSLWDOLD��Nummer 2, p. 25-35, 2000.

Dit artikel formuleert een voorstel van gedragscode voor ziekenhuizen.Het voorstel stoelt op de logica van het model geformuleerd in VanHulle e.a. (2000) en beoogt een aantal aanbevelingen aan te reiken diehet transparant functioneren van direct bij het beleid betrokken organenkunnen ondersteunen. Meer specifiek wordt nagestreefd bij te dragentot duidelijke afspraken, degelijke informatiedoorstroming, goedecommunicatie en duidelijke vastlegging van verantwoordelijkheden.De lijst van aanbevelingen betreft een code omtrent taken en regels vaninterne werking en beoogt op generlei wijze een opsomming te gevenvan de wettelijke verplichtingen die deze organen behoren na te leven.Net zoals het model in Van Hulle (2000), kunnen deze regels ookstapsgewijs en afhankelijk van de situatie van het ziekenhuis wordeningevoerd.



HUYGHEBAERT N., The Capital Structure of Business Start-ups,presented at the European Finance Association Doctoral Tutorial,London, 23-26 August 2000.


VAN DE GUCHT L., KONINGS J. and ROODHOOFT F.,Defining Firm Exit: The Impact of Size and Age Revisited5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0014, 27 p., 2000.

This paper demonstrates that (1) the negative relationship betweeninitial firm size and failure probability, and (2) the aging pattern of thefailure rate are sensitive to the adopted definitions of entry and exit.We use two definitions to measure the timing of entry and exit: aneconomic definition, based on employment levels, and a legaldefinition, based on the firm’s legal status. While initial size isnegatively related to the exit rate under the economic definition, therelation becomes positive under the legal definition. The aging effect ismuch steeper under the legal than under the economic definition.JEL classifications:�*��/��&��

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DORSMAN A., VANTHIENEN L., KEULENEER L., VANHULLE C. and GHEYSENS L., Financieel Management,Standaard Uitgeverij, 2000.

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VAN HULLE C., Principles of corporate governance with anapplication to the financial sector, in STUYCK J., ABRAHAM F.,TERRYN E. (eds), Financial Services and Financial Markets inEurope. Changes and adjustments, Leuven Law Series 16, Centrefor advanced legal studies, Leuven University Press, 183-202,2000.


VAN HULLE C., Member of the Editorial Board of -RXUQDO� RI0XOWLQDWLRQDO� )LQDQFLDO�0DQDJHPHQW, since January 1996; Editorof the newsletter of the (XURSHDQ�)LQDQFH�$VVRFLDWLRQ.


)�:�2�� *�� (Belgian Foundation for Scientific Research),and 27�� (Research Council of the K.U. Leuven), The Life andDeath of Business Start-ups, October 1996 – December 2000.Promotor: SLEUWAEGEN L.co-promotors: KONINGS J., ROODHOOFT F. and VAN DEGUCHT L.

A study on the entry and exit determinants of business startups.

9,21$� (Research grant from the Flemish Ministry on LabourAdministration), Werkgelegenheidsdynamiek: het ontstaan en ver-dwijnen van Vlaamse Bedrijven, 1998-2000.Pomotor: KONINGS J.co-promotors: ROODHOOFT F. and VAN DE GUCHT L.

A study on the regional and industrial differences in the impact of firmentry on job flows.

95:%��Het ontwikkelen van een deflator voor de O&O uitgaven,februari 1999 - juli 2000.Promotor: GAEREMYNCK A., with ROODHOOFT F.,VEUGELERS R. and VAN HULLE C.

Voor het inschatten van de reële bestedingsmogelijkheden van O&Owordt de BNP deflator gebruikt. O&O uitgaven zijn totaal anderssamengesteld (meer lonen, hoger gekwalificeerd personeel) zodat hetontwikkelen van een specifieke prijsdeflator aangewezen is om de echtebestedingsmogelijkheden te kennen. De doelstelling van dit onderzoekis een dergelijke deflator te ontwikkelen voor zowel de universiteitenals de bedrijven.



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publicly defended 20 December 2000, K.U.Leuven; members of thecommission: VAN DE GUCHT L. (promotor), NIEHAUS G.(University of South Carolina), ROODHOOFT F., SERVAES H.(London Business School), VAN HULLE C.

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HUYGHEBAERT N., member of the Program Development GroupEIASM.

VAN HULLE C., Overnames: vloek of weldaad? Internationaleevidentie van economische aspecten, presentatie EFE-seminarie,Brussel, 10-11 mei 2000 en presentatie SeminarieVennootschapsrecht, Leuven, 30 oktober 2000.

VAN HULLE C., Corporate (ziekenhuis) governance: modehype ofnoodzaak ? vrome wensen of realiseerbaar ?, C.Z.V.-KU-Leuven,seminarie Corporate governance. Principes van behoorlijk bestuurin de ziekenhuizen, Knokke, 12-13 mei 2000.

VAN HULLE C., Een governancemodel voor ziekenhuizen,presentatie C.Z.V.-KU-Leuven, cursus Corporate governance,Principes van behoorlijk bestuur in de ziekenhuizen, Knokke, 12-13 mei 2000.

VAN HULLE C., Discussant EFA-meetings, London, 23-26August 2000.

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)DFXOW\�0HPEHUV Herman Daems, Piet Sercu and Paul Verdin.

$VVRFLDWH�)DFXOW\ Daniel Janssens and Sylvain Plasschaert.

$VVLVWDQWV Lieven De Moor, Danielle Devogelaer, Danielle Gilliot, Steven Simon,Patrick Verghote and Tom Vinaimont.

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VERDIN P., VAN HECK N. and VERGHOTE P., Hoe strategischis de euro voor ondernemingen? (How strategic is the euro forcompanies?), %HGULMIVNXQGH��Number 3, p. 54-61, 2000.

In this article, we go beyond the discussion about the technical andoperational aspects of the euro. We investigate its strategicimplications for non-financial companies in Europe. We argue that thedirect strategic implications for these companies are mimimal and thatthe euro is not their most important driver of European integrationacross borders. Nevertheless, it can be used as an opportunity to putcross-border integration on the agenda or to speed up an alreadyongoing integration process.

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VERDIN P., DEKONING A. and SUBRAMANIAN V., Regionalorganisation: Is it the way for the multinational, Proceedings of theInternational Conference on Economic integration and corporatedevelopment: Europe and Latin America, Montpellier, France,ESKA, p. 499-513, 2000.

This paper examines the importance of regionalization and its relevancewithin the broader debate of globalization. We discuss ways by whichregionalization processes refine and complement globalization and thetransnational network approach to organizing multinationalcorporations (MNCs). Based on extensive and in-depth field study, thepaper discusses the major benefits of this regional trend by identifyingthree types of value. Firstly, it creates a regional network organizationbased around strong regional and large country hubs. Secondly,regionalization serves as a useful middle-ground for achieving theeconomies that would emerge from integration, while balancing suchbenefits with the ability to satisfy differential customer demands – away of being efficiently responsive. Thirdly, regionalization can serveas a useful learning platform in the process of becoming a transnational.


GILLIOT D., OVERLAET B. and VERDIN P., Strategic processesin multibusiness conglomerates and focused multibusinesscorporations: Lessons for universities, paper presented at the 22nd

Annual EAIR Forum ‘Institutional Responses to Mass HigherEducation: The Challenge of Social Change and TechnologicalDevelopment’, Berlin, Germany, p. 30, 6-9 September 2000.

Universities today face many challenges. When developing strategicresponses, universities can learn from business organisations. Sincecomprehensive universities possess many of the characteristics of amultibusiness corporation (MBC), we designed a framework based onthe type of questions MBCs ask themselves and the various strategicdecisions they take when developing and managing their portfolio ofbusinesses. In particular we examined how multibusinessconglomerates and focused MBCs deal with issues regarding thedevelopment of their portfolio and translated their lessons to auniversity context. Some strategy problems at universities can beunderstood better and solved by considering the difference betweenstrategic management at multibusiness conglomerates and focusedMBCs.

HAWAWINI, W., SUBRAMANIAN V. and VERDIN P., Is Firms'Profitability Driven By Industry Or Firm-Specific Factors? A NewLook At The Evidence, paper presented at the StrategicManagement Society 2000 Annual Conference, Vancouver,Canada, October 15-18, p. 38, 2000.

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In this study we revisit the question of whether firms’ performance(usually measured as return on assets or ROA) is driven primarily byindustry- or firm-specific factors by extending past studies in two majorways. First, we examine if the findings of past research can begeneralized across all firms in an industry or whether it depends on aparticular class of firms within the same industry. Second, in adeparture from past research, we use value-based measures ofperformance (economic profit or residual income and market-to-bookvalue) instead of accounting ratios. We show that a significantproportion of the absolute estimates of the variance of firm-specificfactors in our study is due to the presence of a few exceptional firms inan industry: the two firms that outperform their industry and the twothat under-perform in comparison to the rest.

VERDIN P., Corporate strategy and European integration: anupdate, International Conference on ‘Trade, Competitiveness andSocial Protection’, organized by HIVA-K.U.Leuven (HigherInstitute of Labour Studies) in collaboration with EZA (EuropeanCenter for Workers Questions), UFSIA and the Athenian PolicyForum, 14-15 December 2000.

VERDIN P., Paradigm Shift: From a National to a EuropeanCorporate Model Paris, Institutional Investor Conference, 10-12April 2000.

WU X., SERCU P. (corresponding author) and CHEN C., 2000:Keiretsu Membership, Size, and Returns on Value and Cost,European Finance Association Annual Meeting, London 2000.

We test how keiretsu membership affects the required IRR on value (orcost of capital) and the IRR on cost (or return on investment), 1974-95.Our tests rely on non-linear cross-sectional regression analysis ofindividual-firm data (all listed Japanese non-financials) controlling forindustry and size factors in returns, rather than on simple pointestimates computed from aggregate data. Like Fama and French (1999)on U.S. data, we find that firms have added value; we also find that thisis true irrespectively of industry, size, and governance system, and thatit is statistically significant. We find no evidence whatsoever thatkeiretsu firms enjoy a lower cost of capital; rather, among medium- ansmall-sized firms the keiretsu ones often have the higher requiredreturn. Top-league keiretsu firms experienced definitely poorer returnson investment than did comparable non-keiretsu ones; for mid- andlow-cap firms there is no clear difference. The most probableexplanation is that keiretsu banks have siphoned off cash from smallmembers to subsidize large firms in the group, a strategy that did notpay off in the end.


28



VERDIN P. and VAN HECK N., The Impact of the SingleCurrency on Company Strategy, in: OOGHE H., HEYLEN F. andVANDER VENNET R. (eds), (PX�� WKH� FKDOOHQJH�� 24e VlaamsWetenschappelijk Economisch Congres, Vereniging voorEconomie, 17-18 March, p. 479-503, 2000.

While the operational impact of the Euro should not be underestimated,the research question that lies underneath this paper is what the Euromeans for corporate strategies in the European context. How will theconversion to a Single Currency change the key strategic questions thatcompanies are facing up to. First of all, we found that the differencesacross borders and barriers for integration are far more complex thanthose resulting from different currencies. The Euro is only a very smallpiece of a constantly changing puzzle. Second, the Euro can openopportunities for value creation since the Euro might unleashopportunities for more segmentation but on ‘economic’ relevant criteria.Thirdly, the Euro can be used as a catalyst for discussing and speedingup cross-border integration.


VERDIN P., Emu: the challenge?, invited speaker in panel n°10‘Business and Corporate Strategy’, 24e Vlaams WetenschappelijkEconomisch Congres, Gent, 17-18 March 2000.

VERDIN P., Sense and Non-sense of Internationalization,Symposium Chair A. Van Melkebeke, HandelshogeschoolAntwerpen, invited speaker in panel (with BODSON Ph., HEENEA. and COCKAERTS M.), 21 March 2000.


WU X., SERCU P. and CHEN C., Keiretsu Membership, FirmSize, and Corporate Returns on Value and Cost��5HVHDUFK�5HSRUW'7(:��.�8�/HXYHQ��nr� 0042, 41 p., 2000.

We test how keiretsu membership affects the Fama and French (1999)required IRR on value (or cost of capital) and the IRR on cost (or returnon investment), 1974-95, of all listed non-financials in Japan. Ratherthan computing point estimates from aggregate data, we employ non-linear cross-sectional regression analysis of individual-firm data and wecontrol for industry and size factors in returns. We find that firms haveadded value – and significantly so – regardless of industry, size, andgovernance system. In terms of cost in capital, we find no evidence of akeiretsu advantage. In fact, within the segment of medium- and small-sized firms the keiretsu ones often have the KLJKHU expected return onvalue. In terms of return on investment, mid- and low-cap firms showno clear difference but top-league keiretsu firms notched up definitelylower numbers than did comparable non-keiretsu ones. Our

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29

interpretation is that keiretsu groups have cross-subsidized their largermember firms, a strategy that led the latter to over-invest.

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SERCU P. and UPPAL R. (LBS), Exchange Rate Volatility, Trade,Capital Flows and Alternative Exchange Rate Regimes, CambridgeUniversity Press, 2000, 153 + xvii.


VERDIN P., The euro and market convergence, in Financial Times,Mastering Strategy – The Complete MBA Companion in Strategy,Chapter 3, Strategy and the general business environment, p. 100-102, 2000.

VERDIN P. and BOGAERT R., Een organisatie gebouwd opsnelheid of een structuur gebaseerd op middelen. Dewisselwerking tussen structuur en succesvol innoveren (Anorganisation built on speed versus a structure based on resources.The interaction between structure and successful innovation), inVAN TILBORGH C. and DUYCK R. (eds.). ManagementJaarboek 2000, Vlaamse Management Associatie (VMA) enAcademici Roularta Media (ARM), p. 56-62, 2000.

VERDIN P. and VAN HECK N., Knowledge Integration AcrossBorders: How to Manage the Transition?, in Science, Technologyand Innovation Policy. Opportunities and Challenges for theKnowledge Economy, edited by CONCEIÇAO P., GIBSON D.,HEITOR M. AND SHARIQ S., ,QWHUQDWLRQDO�6HULHV�RQ�7HFKQRORJ\3ROLF\�DQG�,QQRYDWLRQ� 9RO��,��IC2 Institute, University of Texas atAustin and the Center for Innovation, Technology and PolicyResearch, Instituto Superior Technico, Lisbon, Quorum Books:Westport, CT, and London, p. 41-68, 2000.


SERCU P., member of the Editorial Board of (XURSHDQ�)LQDQFLDO5HYLHZ, since June 1995, of the (XURSHDQ�)LQDQFLDO�0DQDJHPHQW,since August 1995 and of the -RXUQDO� RI� ,QWHUQDWLRQDO� )LQDQFLDO0DUNHWV��,QVWLWXWLRQV��DQG�0RQH\, since June 1996�

VERDIN P., Reviewer for $PHULFDQ� $FDGHP\� RI� 0DQDJHPHQW,6WUDWHJLF� 0DQDJHPHQW� -RXUQDO, (XURSHDQ� 0DQDJHPHQW� -RXUQDO,%ULWLVK� -RXUQDO� RI� 0DQDJHPHQW, 0DQDJHULDO� DQG� 'HFLVLRQ

(FRQRPLFV, -RXUQDO�RI�0DQDJHPHQW�6WXGLHV and 2[IRUG�8QLYHUVLW\3UHVV; Member of the Advisory Board of the (XURSHDQ

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30

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VERDIN P., BARTLETT, C. and DE KONING A., Procter AndGamble Europe: Ariel Ultra’s Eurobrand Strategy, Case ReferenceNo. 300-085-1, INSEAD/HBS/K.U.LEUVEN, 21 p., 2000.

VERDIN P., DE BONDT R. and VERGHOTE P., In hoogsteversnelling. Globalisering leidt tot hyperconcurrentie (In top gear.From globalization to hypercompetition), 2QGHUQHPHQ (VKW -Verbond van Kristelijke Werkgevers en kaderleden), Number 3, p.13-16 March 2000.

VERDIN P., DE MEYER A. and BOGAERT R., Alcatel AccessSystems Division (A): Lessons From The Past, Case ReferenceNumber 300-126-1, INSEAD/K.U.LEUVEN, 22 p., 2000.

VERDIN P., DE MEYER A. and BOGAERT R., Alcatel AccessSystems Division (B): Building For The Future, Case ReferenceNumber 300-127-1, INSEAD/K.U.LEUVEN, 18 p., 2000.

VERDIN P., DE MEYER A. and BOGAERT R., Alcatel AccessSystems Division (C): The Virtual Company – ADSL, CaseReference Number 300-128-1, INSEAD/K.U.LEUVEN, 8 p., 2000.

VERDIN P. and FREEMAN K., Behutsame Strategien für Europa(Cautious Strategies for Europe), +DQGHOVEODWW, 14 April 2000.

VERDIN P. and VAN HECK N., BIS Banking Systems (A)Heading For The 1990s, Case Reference Number 300-052-1,INSEAD/K.U.LEUVEN, 19 p., 2000.

VERDIN P. and VAN HECK N., BIS Banking Systems (B)Distribution Strategy, Case Reference Number 300-053-1,INSEAD/K.U.LEUVEN, 16 p., 2000.

VERDIN P. and VAN HECK N., Vedior International's EuropeanStrategy: The French Revolution, Case Reference Number 300-050-1, INSEAD/K.U.LEUVEN, 19 p., 2000.

VERDIN P. and VAN HECK N., The European Temporary WorkServices Industry In 1994, Case Reference Number 300-051-1,INSEAD/K.U.LEUVEN, 21 p., 2000.

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31


,16($'� 5'�� Does industry Matter? International evidence,empirical study of strategy and share-holder value in collaborationwith HAWAWINI G. (INSEAD) and SUBRAMANIAN V. (PhDCandidate).Promotor: VERDIN P.

The primary orientation of this project is empirical and the insightsgenerated from the empirics are employed to build on existing theoriesin strategy and finance on the determinants of performance. Theproject’s major parts are: the impact of industry and firm factors onperformance for dominant and average firms within industries;sustainability of competitive advantage of dominant firms; internationaldifferences in industry influences on performance of firms, homecountry effects on the competitiveness of firms and the influence ofstrategic, financial, operational and organizational value drivers on firmperformance.

,17(581,9(56,7<� $775$&7,21� 32/(6�� The StrategicAnalysis of Organisations: Microeconomic and ManagementPerspectives, with an Application to Universities, financed by theBelgian government for five years. Three Belgian universities(K.U.Leuven, ULB and the university of Mons) are participating,with DEWATRIPONT M. and THIJS-CLEMENT (honorarypresident of the ULB), as the general promotors.Promotor: DE BONDT R. with VERDIN P., OVERLAET R.,MOESEN W., SPINNEWYN F. and TAVERNIER K.

The project founds on interdisciplinary research with regard to theagency theory, transaction theory and incentive theory, applied onuniversities, the non-profit and the private sector.

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SERCU P., Doctoral Tutorial in Finance, European Institute forAdvanced Studies in Management and European FinanceAssociation, London (LBS), 23 August 2000.

WILLEKENS M. en SERCU P. (co-chairs), Organisatoren van dePwC-leerstoel ‘Value and Risk’ seminariereeks 2000-2001: 9november 2000: Value and Risk: The challenges; 22 februari 2001:Value and Risk: Corporate Reporting Revisited; 31 mei 2001:Value and Risk: E-conomics of trust.


SERCU P., member of the organizing committee (readingcommittee) and discussant of the American Finance AssociationAnnual Conference, Boston Mass., January 2000.


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SERCU P., member of the organizing committee (readingcommittee) of the Western Finance Association AnnualConference, Phoenix, June 2000.

SERCU P., session chair, member of the organizing committee(reading committee), discussant of two papers, EDEN/EuropeanFinance Association Doctoral Tutorial, INSEAD, August 1998.

SERCU P., member of the organizing committee (readingcommittee) of the European Finance Association AnnualConference, LBS, August 2000.

SERCU P., EDEN Intensive Course on Continuous-Time Finance:International and Intertemporal Asset Pricing models, EIASM,Brussels, December 2000.

VERDIN P., Leuven, Belgium, Leren met nieuwe media:webgebaseerde leeromgevingen in het hoger onderwijs, SeminarEuropace, 5 April 2000.

VERDIN P., Leuven, Belgium, The Wanderstudent of 1425 revivedin virtual reality in 2000? Towards a European Virtual University,Europace, October 20-21, 2000.

VERDIN P., Leuven, Belgium, Gemma Frisius Investment Forumon Spin-offs: Investing in the Renewing Economy, 30 November2000.


WILLEKENS M. en SERCU P, Leerstoelhouders van PwC-leerstoel Value & Risk, Inauguratie 27 april 2000.



33

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7KH�ILUVW�DUHD�LV�Methods for system development��ZKHUH�DFWLYLW\� LV�FHQWHUHG�DURXQG�D�VSHFLILFREMHFW�RULHQWHG� GHYHORSPHQW� PHWKRGRORJ\�� YL]�� 0�(�5�2�'(�� 0RGHO�GULYHQ�� ([LVWHQFH�GHSHQGHQFH�5HODWLRQVKLS��2EMHFW�RULHQWHG�'(YHORSPHQW��ZKLFK�RULJLQDWHG�DW�WKH�'HSDUWPHQW�

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5HVHDUFK�DERXW�Intelligent systems�FRQVWLWXWHV�WKH�WKLUG�WRSLF��,W�LV�DLPHG�DW�PRGHOOLQJ�EXVLQHVVNQRZOHGJH�DQG�GHYHORSLQJ�PHWKRGV� IRU�GHVLJQLQJ�NQRZOHGJH�EDVHG� LQIRUPDWLRQ�V\VWHPV��ZLWKVSHFLILF�HPSKDVLV�RQ�VWUXFWXULQJ�DQG�YDOLGDWLQJ�NQRZOHGJH��DQG�WKH�LQWHJUDWLRQ�ZLWK�LQIRUPDWLRQV\VWHPV�� ,W� IRFXVHV� RQ� NQRZOHGJH� UHSUHVHQWDWLRQ�� YDOLGDWLRQ� DQG� YHULILFDWLRQ�� NQRZOHGJHGLVFRYHU\�LQ�GDWDEDVHV��IX]]\�V\VWHPV�

$OVR�quantitative aspects of information systems�DUH�LQYHVWLJDWHG��7KH�RYHUDOO�IUDPHZRUN�LV�WKH%�6�:�� %XVLQHVV��6HUYLFH��:RUN�� PHWKRG�� DQ� LQWHJUDWHG� IUDPHZRUN� IRU� FDSDFLW\� SODQQLQJ�SHUIRUPDQFH� HYDOXDWLRQ� DQG� FRVW� FKDUJLQJ� IRU� LQIRUPDWLRQ� SURFHVVLQJ�� 5HFHQWO\� LW� KDV� EHHQH[DPLQHG�KRZ�$FWLYLW\�%DVHG�&RVWLQJ�WHFKQLTXHV�FDQ�EH�XVHG�LQ�LQWHUSUHWLQJ�PHDVXUHPHQWV�RISHUIRUPDQFH�PRQLWRUV��2WKHU�WKHPHV�DUH�WKH�EHKDYLRU�RI�V\VWHPV�ZLWK�PXOWLSOH�PL[HG�SULRULWLHV�WKH� UHODWLRQVKLS� EHWZHHQ� WKH� %�6�:�� PHWKRG� DQG� HQWHUSULVH� PRGHOLQJ� DQG�� ILQDOO\�� IRUPDOPHDVXUHPHQW�RI�FRPSOH[LW\�RI�22�PRGHOV��DQG�0�(�5�2�'(��EDVHG�PRGHOV�LQ�SDUWLFXODU��

7KH�ILIWK�DUHD�LV�Computer-assisted cooperation and Workflow Management��$WWHQWLRQ�LV�JLYHQWR�WKHVH�TXHVWLRQV��WR�ZKDW�H[WHQW�DUH�WKH�EDVLF�FRPSRQHQWV�RI�D�PHWD�PRGHO�IRU�FRPSXWHU�DVVLVWHG�FRRSHUDWLRQ�SUHVHQW�LQ�ZRUNIORZ�PDQDJHPHQW�V\VWHPV��ZKDW�DUH�WKH�FRPSOLFDWLRQVLQ�WKH�DUHD�RI�GDWD�PRGHOOLQJ�DQG�KRZ�FDQ�WKH\�EH�GHDOW�ZLWK�E\�PHDQV�RI��GLVWULEXWHG��GDWDEDVHPDQDJHPHQW� V\VWHPV�� ZKLFK� IDFWRUV� FDQ� H[SODLQ� �HPSLULFDOO\�� WKH� LPSURSHU� XVH� RI� VXFKV\VWHPV��KRZ�WR�XVH�PRGHUQ�VLPXODWLRQ�SDFNDJHV�IRU�VWXG\LQJ�VXFK�V\VWHPV�

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COENEN F., et al., Validation and verification of knowledge-basedsystems: report on EUROVAV99, 7KH� .QRZOHGJH� (QJLQHHULQJ5HYLHZ� Cambridge University Press, 15(2), pp. 187-196, 2000.

-RXUQDO3XEOLFDWLRQV

0DQDJHPHQW�,QIRUPDWLFV '7(:�5HVHDUFK�$FWLYLWLHV��

34

This article gives an overview of two recent events on the validationand verification of knowledge-based systems: (1) the 1997 EuropeanSymposium on the Verification and Validation of Knowledge-BasedSystems (EUROVAV-97) and (2) the Four-teenth National Conferenceon Artificial Intelligence Workshop on the Verification and Validationof Knowledge- Based Systems. To give an integrated view of currentresearch issues in this field, we organized this article along thematiclines, unifying the reports of the two separate meetings. Our reportfocuses on the trends that we think will be important in the near futurein this field.

LEEMANS H., Provable bounds for the mean queue lengths in aheterogeneous priority queue, 4XHXLQJ� 6\VWHPV�� 7KHRU\� DQG

$SSOLFDWLRQV, vol. 36, nrs.1-3, p. 269-286, 2000.

We analyze a two-class two-server system with nonpreemptiveheterogeneous priority structures. We use matrix-geometric techniquesto determine the stationary queue length distributions. Numericalsolution of the matrix-geometric model requires that the number ofphases be truncated and it is shown how this affects the accuracy of theresults. We then establish and prove upper and lower bounds for themean queue lengths under the assumption that the classes have equalmean service times.

MARTENS J., WETS G., VANTHIENEN J. and MUES C.,Improving A Neuro-Fuzzy Classifier Using Exploratory FactorAnalysis, ,QWHUQDWLRQDO� -RXUQDO� RI� ,QWHOOLJHQW� 6\VWHPV, 15 (8), p.785-800, August 2000.

As of this writing, there exists a large variety of recently developedpattern classification methods coming from the domain of machinelearning and artificial intelligence. In this paper, we study theperformance of a recently developed and improved classifier thatintegrates fuzzy set theory in a neural network (NEFCLASS). Theperformance of NEFCLASS is compared to a well-known classificationtechnique from machine learning (C4.5). Both C4.5 and NEFCLASSwill be evaluated on a collection of benchmarking datasets. Further, inorder to boost performance of NEFCLASS, we investigate theadvantage of pre-processing the algorithm by means of an exploratoryfactor analysis. We will compare the algorithms before and afterapplying an exploratory factor analysis on leading performanceindicators, as there are the accuracy of the created classifier and themagnitude of the associated rule base.Keywords: classification problems, machine learning, fuzzy set theory,fuzzy neural networks, fuzzy back-propagation.

POELS G. and DEDENE G., Distance-based softwaremeasurement: necessary and sufficient properties for softwaremeasures, ,QIRUPDWLRQ�DQG�6RIWZDUH�7HFKQRORJ\, Vol. 42, No. 1, p.35-46, January 2000.

Axiomatic approaches to software measurement present sets ofnecessary, but not sufficient measure axioms. The insufficiency of themeasure axioms implies that they are useful to invalidate existing

'7(:�5HVHDUFK�$FWLYLWLHV�� 0DQDJHPHQW�,QIRUPDWLFV

35

software measures, but not to validate them. In this paper, a set ofmeasure axioms is presented whose sufficiency is guaranteed bymeasurement theory. The axioms referred to are the metric axioms,used in mathematics to define measures of distance. We present aconstructive procedure that defines software measures satisfying theseaxioms. As an illustration of distance-based software measurement, ameasure is defined for the aggregation coupling of object classes.

VIAENE S., WETS G. and VANTHIENEN J., A synthesis of fuzzyrule-based system verification, )X]]\�6HWV�DQG�6\VWHPV, 113 (2), p.253-265, 2000.

The verification of fuzzy rule bases for anomalies has receivedincreasing attention these last few years. Many different approacheshave been suggested and many are still under investigation. In thispaper, we give a synthesis of methods proposed in literature that try toextend the verification of classical rule bases to the case of fuzzyknowledge modeling, without needing a set of representative input.Within this area of fuzzy validation and verification (V&V) we identifytwo dual lines of thought leading to what is identified as static anddynamic anomaly detection methods. Static anomaly detectionessentially tries to use similarity, affinity or matching measures toidentify anomalies within a fuzzy rule base. It is assumed that thedetection methods can be the same as those used in a non-fuzzyenvironment, except that the former measures indicate the degree ofmatching of two fuzzy expressions. Dynamic anomaly detection startsfrom the basic idea that any anomaly within a knowledge representationformalism, i.e. fuzzy if-then rules, can be identified by performing adynamic analysis of the knowledge system, even without providingspecial input to the system. By imposing a constraint on the results ofinference for an anomaly not to occur, one creates definitions of theanomalies that can only be verified if the inference process, and therebythe fuzzy inference operator is involved in the analysis. The majoroutcome of the confrontation between both approaches is that theirresults, stated in terms of necessary and/or sufficient conditions foranomaly detection within a particular situation, are difficult toreconcile. The duality between approaches seems to have translated intoa duality in results. This article addresses precisely this issue bypresenting a theoretical framework which enables us to effectivelyevaluate the results of both static and dynamic verification theories.


DEDENE G., Software-engineering voor Bedrijfsapplicatie-software: de strijd tussen theorie en praktijk, ,7� 0DQDJHPHQW

6HOHFW, Vol 2000/4, p. 3-18, 2000.

De vooruitgang van de informatica wordt gekenmerkt door eengestadige opeenvolging van vernieuwingen. Deze vernieuwingengebeuren niet alleen op het vlak van de informatie- encommunicatietechnologie (I.C.T.) zelf, maar evenzeer op het gebied vande methoden en technieken voor de ontwikkeling van informatie- encommunicatiesystemen, én de beheerstechnieken voor deze systemen.


36

Een gevaarlijke gedachtengang hierbij is de veronderstelling dat iederevernieuwing het vorige overbodig maakt. Deze veronderstelling wordtal te vaak impliciet aangenomen, vooral bij de methoden en techniekenvoor systeemontwikkeling. Het enthousiasme over een nieuw inzichtdoet de goede kanten van vorige methoden en technieken vergeten.Oude handboeken worden gemakkelijk zonder omkijken naar deprullenmand verwezen. Vooraleer vaak de concepten goed en welaangeleerd zijn, laat staan in de praktijk gebracht.In dit artikel wordt uitdrukkelijk ingegaan op de manier waarop devoorbije 40 jaar in de sector van de informatie- encommunicatiesystemen voortdurend deze spanning tussen theorie enpraktijk heeft plaatsgevonden. Het geeft tegelijkertijd een overzicht vande relevante ontwikkelingen op het vlak de ontwikkeling vanbedrijfsgerichte informatie- en communicatiesystemen, met kritischebeschouwingen rond hun toepassing in de bedrijfswereld.Op het einde wordt ook even kort vooruitgekeken naar wat de mogelijkeagenda kan zijn voor het volgend decennium. De beschouwingen in hetartikel zijn gebaseerd op het onderwijs rond deze problematiek, enpraktijkprojecten aan de Katholieke Universiteit Leuven en deUniversiteit van Amsterdam.

LEMAHIEU W., Breng structuur aan in uw Web-documenten metXML, %XVLQHVV� ,&7 9RO�� , No. 1, p. 52-53, januari 2000 en in*UDILVFK�1LHXZV�9RO��, No. 6 maart 2000.

LEMAHIEU W., CORBA: bemiddelen tussen heterogeneapplicaties, %XVLQHVV�,&7 9RO��, No. 4, p. 64-65, april 2000.

LEMAHIEU W., De ODMG standaard: van Object Database totObject Storage API, %XVLQHVV� ,&7 9RO�� , No. 9, p. 70-73,November 2000.

LEMAHIEU W., 0(6+: een Object-Georiënteerde Benadering vanHypermedia Modellering en Navigatie, %HOHLGVLQIRUPDWLFD

WLMGVFKULIW, september 2000.

LEMAHIEU W., Storage Area Networks: ‘the network behind theserver’, %XVLQHVV�,&7 9RO��, No. 7, p. 80-82, September 2000.

LEMAHIEU W., Web application servers: tussen browser endatabase, %XVLQHVV�,&7 9RO��, No. 5, p. 72-73, mei 2000.


37



BAESENS B., VIAENE S., VAN GESTEL T., SUYKENS J.,DEDENE G., DE MOOR B. and VANTHIENEN J., An EmpiricalAssessment of Kernel Type Performance for Least Squares SupportVector Machine Classifiers, in the Fourth International Conferenceon Knowledge-Based Intelligent Engineering Systems & AlliedTechnologies (KES’2000), University of Brighton, U.K., p. 313-316, September 2000.

Recently, a modified version of Support Vector Machines (SVM’s),Least Squares SVM (LS-SVM’s) classifiers has been introduced whichis closely related to a form of ridge regression type SVM’s. In LS-SVM’s, the classifier is obtained as the solution to a linear systeminstead of a quadratic programming (QP) problem. In this paper, UCIbenchmark datasets are used to evaluate the performance of LS-SVMclassifiers with linear, polynomial and radial basis function (RBF)kernels. The hyperparameters of the LS-SVM problem formulation aretuned using a 10-fold cross validation procedure and a grid searchmechanism. When comparing the performance of a non-linear (RBF orpolynomial) LS-SVM classifier with that of a linear LS-SVM,additional insight can be gained into the degree of non-linearity of theclassification problem at hand. Using a statistical motivation, it isconcluded that RBF LS-SVM classifiers consistently yield among thebest results for each data set.

BAESENS B., VIAENE S., VAN GESTEL T., SUYKENS J.,VAN DEN POEL D., VANTHIENEN J., DE MOOR B. andDEDENE G., Knowledge Discovery using Least Squares SupportVector Machine Classifiers: a Direct Marketing Case, The FourthEuropean Conference on Principles and Practice of KnowledgeDiscovery in Databases (PKDD’2000), Lyon, France, p. 657-664,13-16 September 2000.

At the verge of breaking through and becoming a part of the mainstreamtechniques in the field of pattern recognition are support vectormachines (SVM’s). A least squares version (LS-SVM) for supportvector machine classification has recently been reported in theliterature. In this paper, we validate existing theory on and developadditional insight into repeat-purchase behaviour in a direct marketingKDD setting by using this promising LS-SVM formulation furtherenhanced with a wrapped feature selection approach. The case involvesthe detection and qualification of the most relevant variables for repeat-purchase modelling. The empirical findings highlight the importance ofa combined use of frequency, monetary and some other non-RFM(Recency, Frequency, Monetary) variables. Furthermore, the caseclearly suggests the presence of mainly linear relationships in theanalysed direct marketing data.

&RQIHUHQFHV


38

BAESENS B., VIAENE S., VAN GESTEL T., SUYKENS J.,DEDENE G., DE MOOR B. and VANTHIENEN J., Least squaressupport vector machine classifiers: An empirical evaluation,Twelfth Belgium-Netherlands Conference on Artificial Intelligence(BNAIC’00), Kaatsheuvel, The Netherlands, p. 69-76, 1-2November 2000.

In this paper, we evaluate least squares support vector machine (LS-SVM) classifiers with RBF kernels on five publicly available real-lifebenchmark UCI data sets. While standard SVM optimisation involvessolving quadratic or linear programming problems, the least squaresversion corresponds to solving a set of linear equations, due to equalityconstraints in the problem formulation of the SVM. Very promisingresults are reported indicating the good generalization behavior of theestimated RBF LS-SVM classifiers. For many large scale real lifeapplications least squares support vector machines in combination withthe tuning technique presented in this paper may offer a fast and simplemethod for obtaining classifiers with good generalization performance.

BAESENS B., VIAENE S. and VANTHIENEN J., Post-Processingof Association Rules, 8th Conference on Knowledge Discovery inDatabases, ISSN 0234-8445, no 850, Turawa, Poland, p. 159-173,19-21 May 2000; Special workshop on post-processing, The SixthACM SIGKDD International Conference on Knowledge Discoveryand Data Mining (KDD-2000), Boston, MA, USA., p. 2-8, 20-23August 2000.

In this paper, we situate and motivate the need for a post-processingphase to the association rule mining algorithm when plugged into theknowledge discovery in databases process. Major research effort hasalready been devoted to optimising the initially proposed miningalgorithms. When it comes to effectively extrapolating the mostinteresting knowledge nuggets from the standard output of thesealgorithms, one is faced with an extreme challenge, since it is notuncommon to be confronted with a vast amount of association rulesafter running the algorithms. The sheer multitude of generated rulesoften clouds the perception of the interpreters. Rightful assessment ofthe usefulness of the generated output introduces the need to effectivelydeal with different forms of data redundancy and data being plainlyuninteresting. In order to do so, we will give a tentative overview ofsome of the main post-processing tasks, taking into account the effortsthat have already been reported in the literature.

BAESENS B., VIAENE S., VANTHIENEN J. and DEDENE G.,Wrapped Feature Selection by means of Guided Neural NetworkOptimisation, Accepted for oral presentation, 15th InternationalConference on Pattern Recognition (ICPR’2000), Barcelona, Spain,p. 113-116, 3-8 September 2000.

In this paper, we discuss the implementation of a wrapped neuralnetwork feature selection approach, introduced here as the WeightCascaded Retraining (WCR) algorithm. The first part of the paperprovides an outline of the algorithm and elaborates on its formalunderpinnings. Central to the whole feature pruning approach is the


39

iteratively conceived guided function optimisation realised by passingthe optimised weight vector from one iteration step to the next. Thisessentially gives rise to a cascaded form of neural network retraining.In the second part of the paper the theoretical exposition of the WCRalgorithm will be illuminated and benchmarked by means of publiclyavailable UCI case material. It is proven that WCR based neuralnetwork feature selection may be very effective in reducing modelcomplexity for classification modelling via neural networks.

DEDENE G., Critical Issues in the proposed ISO Object-OrientedCOBOL 2002 Standard, TOOLS USA 2000, in Q. Li,FIRESMITH D., RIEHLE R., POUR G., MEYER B. (eds),TOOLS34, Proceedings of the TOOLS USA 2000 Conference,Santa Barbara, IEEE Computer Society, p. 491-500, August 2000.

This paper explores some critical issues in the future expansion ofCOBOL, particularly in view of its support for the fundamentalprinciples of object-orientation and components. This paper exploresthe class definition and design by contract issues of the proposed ISOstandard for object-oriented COBOL. It explains how the carefulapplication of object-oriented COBOL can increase the consistency ofCOBOL software specifications, requiring special attention on the sideof COBOL developers. In particular, the exception handlingmechanisms in the proposed COBOL standard are examined. In theabsence of full implementations of the proposed standard, a practicalwork-around architecture for administrative business applications isbriefly discussed. Reading the paper assumes a minor knowledge of theCOBOL syntax.

HAEGEMANS A., LATOUCHE G. and LEEMANS H, How toInterpret the Condition Number of the Caudal Characteristic of aQBD, Advances in Algorithmic Methods for Stochastic Models,Proceedings of the 3rd International Conference on Matrix AnalyticMethods, LATOUCHE G. and TAYLOR P. (eds.), Leuven, p.153-165, 12-14 July 2000.

The spectral radius η of the rate matrix of an ergodic QBD is known tobe indicative of the tail behaviour of the steady state probabilitydistribution. Therefore η�is called the FDXGDO�FKDUDFWHULVWLF and is usedas a descriptor of the dynamics of the QBD. In this paper, we show thatadditional information can be given by the FRQGLWLRQ� QXPEHU of thespectral radius, κ�η�, especially in those cases where κ�η��is huge.

LEMAHIEU W., An Object-Oriented Approach to ConceptualHypermedia Modeling, 3URFHHGLQJV� RI� WKH� �� ,QIRUPDWLRQ

5HVRXUFHV� 0DQDJHPHQW� $VVRFLDWLRQ� ,QWHUQDWLRQDO� FRQIHUHQFH

�,50$��, Anchorage, Alaska, p. 989-992, May 2000.

LEMAHIEU W., A Context-Based Navigation Paradigm forAccessing Web Data, 3URFHHGLQJV� RI� WKH� $&0� 6\PSRVLXP� RQ

$SSOLHG�&RPSXWLQJ� �6$&� ��, Como, Italy, p. 948-955, March2000.


40

LEMAHIEU W., 0(6+: an Object-Oriented Approach to Hyper-media Modeling and Navigation, 3URFHHGLQJV� RI� 2QOLQH

FRQIHUHQWLH�1HGHUODQG, Rotterdam, Netherlands, April 2000.

POELS G. and DEDENE G., Measures for Assessing DynamicComplexity Aspects of Object-Oriented Conceptual Schemes, inLAENDLER A.H.F., LIDDLE S.W., STOREY V.C., ConceptualModeling -ER2000, 19th International Conference on ConceptualModeling, Salt Lake City, UTAH, USA, Lecture Notes InComputer Science 1920, Springer, p. 499-512, Oktober 2000.

Software developers are increasingly realising that the quality of asystem must be evaluated and controlled in the early stages of thedevelopment life cycle. It is in this context that a number of qualityframeworks for conceptual schemes have been proposed. However,before the quality of a conceptual schema can be improved, it must beassessed. Accordingly, a number of measure suites have been proposedfor measuring quality properties of conceptual schemes. In this paperwe focus on one particular quality property, i.e. cognitive complexity.This property can be described as the mental burden of the persons thatmust understand, modify, extend, verify, implement, and reuseconceptual schemes. The proposed complexity measures for conceptualschemes have in common that they only capture the complexity of thestatic or structural aspects of a conceptual schema. We thereforepresent a complementary suite of measures that focuses on conceptualschema complexity as seen from a dynamic perspective. This suite ofmeasures is based on a formal model of object functionality andbehaviour that is obtained using an event-driven, object-orientedapproach to conceptual modeling. We also discuss the theoretical andempirical validity of these measures.

POELS G. and DEDENE G., Measures for Object-EventInteractions, in MITCHELL R., JEZEQUEL J.M., BOSH J.,MEYER B., WILLS A. and WOODMAN M. (eds), TOOLS33,Proceedings of the TOOLS Europe 2000 Conference, Mt. St.Michel, June 2000, IEEE Computer Society, p. 70-82, 2000.

A suite of measures is presented that addresses two problem areaswithin contemporary object-oriented software measurement theory andpractice, i.e. the lack of OOA measures and the lack of measures for thebehaviour aspects of software. Our suite of measures is based on aformally defined model of object-event interaction, called the object-event association matrix. Generally, the objects in a domain or systemsare affected by the occurrence of real-world or information-systemevents. A framework for measurement is presented that expresses andmeasures attributes (features, properties, characteristics) of objects,related to data, function and dynamic behaviour dimensions of software,in terms of object-event interactions. This framework allows for earlymeasurements because it applies to OOA, CBSE, and domain analysismethods that support the notion of events, or that support dynamicconcepts (use cases, scenarios, actions) that can be transformed intoevents.


41

POELS G., VIAENE S. and DEDENE G., Distance Measures forInformation System Reengineering, Proceedings of the 12th

Internation Conference on Advanced Information SystemsEngineering (CaiSE 2000), Stockholm (Sweden), Lecture Notes inComputer Science, Vol. 1789, Springer, p. 387-400, 5-9 June 2000.

We present an approach to assess the magnitude and impact ofinformation system reengineering caused by business process change.This approach is based on two concepts: object-oriented businessmodeling and distance measurement. The former concept is used tovisualize changes in the business layer of an information systemarchitecture. The latter concept is used to quantify these changes. Thepaper also describes the application of our approach in the context offront-office system design.

PUT F. and MARTENS J., A Topological Interpretation of aPhilosophical Polarity in Structural Validation of Discrete EventSystem Models, European Simulation Multiconference 00, p. 169-176, 23-26 mei 2000.

During the last decades, the practice of simulation has becomeincreasingly popular among many system analysts and model buildersfor the purpose of studying complex systems that surpass the operabilityof analytical solution techniques. As a consequence of the pragmaticorientation of simulation, a vital stage for a successful application is theissue of validating a constructed simulation model. It lies within theaim of this paper to reflect on the issue of structural validation in thecontext of discrete event simulation. First, we will discuss the classicphilosophical polarity of foundationalism (objectivism) versus anti-foundationalism (relativism) that plays a major role in any debate onvalidation. Following an object-relation-event paradigm as a basis forsystem structure, we will define a set of discrete event model structures.In a subsequent paragraph, we attempt to translate the philosophicalpolarity into a metrisation of this set and we will relate structuralvalidation to a metric. The appropriate topologies on the set of systemstructures are derived for both foundationalists and anti-foundationalists. The paper is concluded by relating relative validationto fuzzy clustering and discussing the relation between truth andstructure morphisms.

SNOECK M. and DEDENE G., Modeling the dialogue aspects ofan information system, Proceedings of the ECIS’2000 Conference,Vienna, p. 159-165, 3-5 July 2000.

In this paper we investigate techniques offered by current object-oriented development methods for the specification of the user-systemdialogue aspect of a software system. Current development methods donot give very extensive guidelines on how to model this aspect and theavailable techniques need some refinement and elaboration to fit thisparticular task in the software specification process. The paper firstcompares a number of approaches. The common elements of theseapproaches are summarized and further developed into onecomprehensive set of techniques that addresses the needs of functionalrequirements analysis.


42

SNOECK M., POELMANS S. and DEDENE G., A LayeredSoftware Specification Architecture, in LAENDLER A.H.F.,LIDDLE S.W. and STOREY V.C., Conceptual Modeling -ER2000,19th International Conference on Conceptual Modeling, Salt LakeCity, UTAH, USA, Oktober 2000, Lecture Notes In ComputerScience 1920, Springer, p.454-469, 2000.

Separation of concerns is a determining factor of the quality of object-oriented software development. Done well, it can provide substantialbenefits such as additive rather than invasive change and improvedadaptability, customizability, and reuse. In this paper we propose asoftware architecture that integrates concepts from business processmodeling with concepts of object-oriented systems development. Thepresented architecture is a layered one: the concepts are arranged insuccessive layers in such a way that each layer only uses concepts of itsown layer or of layers below. The guiding principle in the design ofthis layered architecture is the separation of concerns. On the one handworkflow aspects are separated from functional support for tasks and onthe other hand domain modeling concepts are separated frominformation system support. The concept of events (workflow events,information system events and business events) is used as bridgingconcept between the different layers.

SNOECK M., POELMANS S. and DEDENE G., An architecturefor bridging OO and Business Process Modelling, inMITCHELL R., JEZEQUEL J.M., BOSH J., MEYER B.,WILLS A. and WOODMAN M. (eds), TOOLS33, Proceedings ofthe TOOLS Europe 2000 Conference, Mt. St. Michel, IEEEComputer Society, 5-8 June 2000, p. 132-143, 2000.

Workflow systems and object-oriented technology have undoubtedlybeen some of the most important domains of interest of informationtechnology over the past decade. Both domains however, have largelyevolved independently, and not much research can be found in whichworkflow modelling principles and concepts have been applied to OOsystems development or vice versa. In this paper we show how the twodomains can be integrated. By integrating both domains, businessprocess modelling can benefit from the advantages of the object-oriented approach. On the other hand, a more process orientedapproach to OO development would enhance the organisational fit ofobject-oriented information systems development. The architecture thatresults from this integration is a tier-based one with a separate tier forworkflow aspects.

SNOECK M. and POELS G., Improving the Reuse Possibilities ofthe Behavioural Aspects of Object-Oriented Domain Model, inLAENDLER A.H.F., LIDDLE S.W., STOREY V.C., ConceptualModeling -ER2000, 19th International Conference on ConceptualModeling, Salt Lake City, UTAH, USA, 9-12 October 2000,Lecture Notes In Computer Science 1920, Springer, p. 423-439,2000.

Reuse of domain models is often limited to the reuse of the structuralaspects of the domain (e.g. by means of generic data models). In object-


43

oriented models, reuse of dynamic aspects is achieved by reusing themethods of domain classes. Because in the object-oriented approachany behavior is attached to a class, it is impossible to reuse behaviorwithout at the same time reusing the class. In addition, because of themessage passing paradigm, object interaction must be specified as amethod attached to one class which is invoked by another class. In thisway object interaction is hidden in the behavioral aspects of classes.This makes object interaction schemas difficult to reuse and customize.The focus of this paper is on improving the reuse of object-orienteddomain models. This is achieved by centering the behavioral aspectsaround the concept of business events.

SNOECK M., POELMANS S. and DEDENE G., A LayeredSoftware Specification Architecture, in LAENDLER A.H.F.,LIDDLE S.W., STOREY V.C., Conceptual Modeling -ER2000,19th International Conference on Conceptual Modeling, Salt LakeCity, UTAH, USA, 9-12 October 2000, Lecture Notes In ComputerScience 1920, Springer, p. 454-469, 2000.

Separation of concerns is a determining factor of the quality of object-oriented software development. Done well, it can provide substantialbenefits such as additive rather than invasive change and improvedadaptability, customizability, and reuse. In this paper we propose asoftware architecture that integrates concepts from business processmodeling with concepts of object-oriented systems development. Thepresented architecture is a layered one: the concepts are arranged insuccessive layers in such a way that each layer only uses concepts of itsown layer or of layers below. The guiding principle in the design ofthis layered architecture is the separation of concerns. On the one handworkflow aspects are separated from functional support for tasks and onthe other hand domain modeling concepts are separated frominformation system support. The concept of events (workflow events,information system events and business events) is used as bridgingconcept between the different layers.

SNOECK M. and POELS G., Analogical Reuse of Structural andBehavioural Aspects of Event-Based Object-Oriented DomainModels, Domaine Engineering Workshop, Proceedings of theDEXA’2000 Conference, London (Greenwich), IEEE ComputerSociety, 2000, p.802-806, 8 September 2000.

The focus of this paper is on the reuse of event-based, object-orienteddomain models. It presents a generic domain model for the domainabstraction Object Allocation and shows how this model can be reusedin analogous domains like a hotel administration, a car rental company,and a library. Both the reuse of structural and behavioural aspects isinvestigated. In particular, the paper addresses the reuse of the partici-pation of domain objects in real-world events and the reuse of objectlifecycle specifications.


44

VIAENE S., BAESENS B., DEDENE G., VANTHIENEN J. andVANDENBULCKE J., Sensitivity Based Pruning of InputVariables by means of Weight Cascaded Retraining, FourthInternational Conference and Exhibition on the PracticalApplication of Knowledge Discovery and Data Mining (PADD2000), p. 141-159, Manchester, U.K., 10-14 April 2000.

This paper investigates the adoption of a wrapped feature selectionapproach using neural networks for classification purposes. Thepresented framework consists of a primary model selection or networkconstruction phase and a subsequent input feature pruning phase,introduced here under the name of Weight Cascaded Retraining(WCR). The theoretical exposition in the first part of the paper will beilluminated and validated by means of real-life empirical case material.The main conclusion of the paper can be stated as follows. Featureselection can be very effective in reducing model complexity forclassification modelling via neural networks. It allows one to partiallycircumvent the curse of dimensionality when being confronted with ahigh number of irrelevant/redundant features. Furthermore, by reducingthe number of input features in the neural network training phase, bothhuman understanding and computational performance can be vastlyenhanced.

VIAENE S., BAESENS B., VAN DEN POEL D., DEDENE G. andVANTHIENEN J., Wrapped Feature Selection for BinaryClassification Bayesian Regularisation Neural Networks: aDatabase Marketing Application, Second International Conferenceon DATA MINING 2000, p. 353-362, Cambridge University, U.K.,5-7 July 2000.

In this paper, we try to validate existing theory on and developadditional insight into repeat purchasing behaviour in a direct-marketingsetting by means of an illuminating case study. The case involves thedetection and qualification of the most relevant RFM (Recency,Frequency and Monetary) features, using a wrapped feature selectionmethod in a neural network context. Results indicate that elimination ofredundant/irrelevant features by means of the discussed featureselection method, allows to significantly reduce model complexitywithout degrading generalisation ability. It is precisely this issue thatwill allow to infer some very interesting marketing conclusionsconcerning the relative importance of the RFM-predictor categories.The empirical findings highlight the importance of a combined use ofall three RFM variables in predicting repeat purchase behaviour.However, the study also reveals the dominant role of the frequencyvariable. Results indicate that a model including only frequencyvariables still yields satisfactory classification accuracy compared to theoptimally reduced model.


45

VIAENE S., BAESENS B., VAN GESTEL T., SUYKENS J.,VAN DEN POEL D., VANTHIENEN J., DE MOOR B. andDEDENE G., Knowledge Discovery using Least Squares SupportVector Machine Classifiers: a Direct Marketing Case, in the FourthEuropean Conference on Principles and Practice of KnowledgeDiscovery in Databases (PKDD’2000), Lyon, France, p. 657-664,13-16 September 2000.

At the verge of breaking through and becoming a part of the mainstreamtechniques in the field of pattern recognition are support vectormachines (SVM’s). A least squares version (LS-SVM) for supportvector machine classification has recently been reported in theliterature. In this paper, we validate existing theory on and developadditional insight into repeat-purchase behaviour in a direct marketingKDD setting by using this promising LS-SVM formulation furtherenhanced with a wrapped feature selection approach. The case involvesthe detection and qualification of the most relevant variables for repeat-purchase modelling. The empirical findings highlight the importance ofa combined use of frequency, monetary and some other non-RFM(Recency, Frequency, Monetary) variables. Furthermore, the caseclearly suggests the presence of mainly linear relationships in theanalysed direct marketing data.


GERRITS R. and VANTHIENEN J., Validation and Verification inand for Aion Applications, CA-World 2000, New Orleans, LA, 9-14 April 2000.

This presentation discussed automatic verification techniques of Aionknowledge bases. The presentation was accompanied by a lab withdemonstrations of the following products: Valens (LibRT), which wasbuilt with Aion 8 for verifying rules and Prologa (K.U. Leuven) forbuilding and verifying Aion 8 decision tables.

SNOECK M., DEDENE G., Object-oriented modelling withevents, TOOLS Europe 2000, Tutorial (3h), in MITCHELL R.,JEZEQUEL J.M., BOSH J., MEYER B., WILLS A. andWOODMAN M. (eds), TOOLS33, Proceedings of the TOOLSEurope 2000 Conference, Mt. St. Michel, 5-8 June 2000, IEEEComputer Society, p. 458-459, 2000.

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LEMAHIEU W,Van persistent object tot transparante database,LIRIS-dag 2000, Woluwe, december 2000.


46

VANTHIENEN J., Information, Society and Internet, Fortis BankChair 1999-2000 Current Developments in European Integration:Network industries in the European Union. Telecommunications,Energy and Technology, K.U.Leuven, Faculty of Law and Facultyof Economics and Applied Economics, 16 March 2000.


BAESENS B., VIAENE S., VAN GESTEL T., SUYKENS J.,DEDENE G., DE MOOR B. and VANTHIENEN J., Least SquaresSupport Vector Machine Classifiers: An Empirical Evaluation,5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0003, 16 p., 2000.

In this paper, we evaluate least squares support vector machine (LS-SVM) classifiers with RBF kernels on five publicly available real-lifebenchmark UCI data sets. While standard SVM optimisation involvessolving quadratic or linear programming problems, the least squaresversion corresponds to solving a set of linear equations, due to equalityconstraints in the problem formulation of the SVM. Very promisingresults are reported indicating the good generalization behavior of theestimated RBF LS-SVM classifiers. For many large scale real lifeapplications least squares support vector machines in combination withthe tuning technique presented in this paper may offer a fast and simplemethod for obtaining classifiers with good generalization performance.

BAESENS B., VIAENE S. and VANTHIENEN J., Post-Processingof Association Rules,� 5HVHDUFK� 5HSRUW� '7(:�� .�8�/HXYHQ�� nr�0020, 18 p., 2000.

In this paper, we situate and motivate the need for a post-processingphase to the association rule mining algorithm when plugged into theknowledge discovery in databases process. Major research effort hasalready been devoted to optimising the initially proposed miningalgorithms. When it comes to effectively extrapolating the mostinteresting knowledge nuggets from the standard output of thesealgorithms, one is faced with an extreme challenge, since it is notuncommon to be confronted with a vast amount of association rulesafter running the algorithms. The sheer multitude of generated rulesoften clouds the perception of the interpreters. Rightful assessment ofthe usefulness of the generated output introduces the need to effectivelydeal with different forms of data redundancy and data being plainlyuninteresting. In order to do so, we will give a tentative overview ofsome of the main post-processing tasks, taking into account the effortsthat have already been reported in the literature.

BERTRAND B., DEDENE G., SNOECK M. and VERHELST M.,An explicit formulation for an algorithm and for procedure lengthfor the JSP method for structured procedure design�� 5HVHDUFK5HSRUW�'7(:��.�8�/HXYHQ��nr� 0008, 85 p., 2000.

The JSP technique was introduced in 1975 by Michael Jackson[6],primarily as a structured design technique for input-process-output typeof problems. Although this design technique was developed in thecontext of structured programming, it has still a value for contemporary

5HVHDUFK5HSRUWV


47

software technology, such as to design structured methods in object-oriented class descriptions. This paper presents an explicit formaliseddescription of the basic JSP design technique. In particular, the notionof sound correspondences between input and output structure elementsis precisely defined. Next the paper proposes an explicit algorithm fordesigning JSP structures from sound correspondences, and discussesunder what conditions the proposed algorithm is applicable. The finalsection demonstrates a fundamental result on the relation between thelength of the procedure and the correspondences between input andoutput structure elements, which motives why the basic JSP techniqueleads to optimised procedures.

MORENO GARCIA A.M., VERHELLE M. and VANTHIENENJ., An Overview of decision table literature 1982-2000, 5HVHDUFK5HSRUW�'7(:��.�8�/HXYHQ��nr� 0044, 69 p., 2000.

The present report contains an overview of the literature on decisiontables since its origin. The goal is to analyze the dissemination ofdecision tables in different areas of knowledge, countries andlanguages, especially showing these that present the most interest ondecision table use. In the first part a description of the scope of theoverview is given. Next, the classification results by topic areexplained. An abstract and some keywords are included for eachreference, normally provided by the authors. In some cases owncomments are added. The purpose of these comments is to show where,how and why decision tables are used. Other examined topics are thetheoretical or practical feature of each document, as well as its origincountry and language. Finally, the main body of the paper consists ofthe ordered list of publications with abstract, classification andcomments.Keywords: decision tables; expert systems; decision support systems;knowledge representation.

POELS G. and DEDENE G., Measures for Assessing DynamicComplexity Aspects of Object-Oriented Conceptual Schemes,5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0029, 16 p., 2000.

System developers are increasingly realising that the quality of a systemmust be ensured in the early stages of the development life cycle. It isin this context that a number of quality frameworks for conceptualschemes have been proposed. However before the quality of aconceptual schema can be improved, it must be assessed. Accordingly,a number of measure suites have been proposed for measuring qualityproperties of conceptual schemes. In this paper we focus on oneparticular quality property, i.e. complexity. This property can bedescribed as the mental burden of the persons that must understand,modify, extend, verify, implement, and reuse conceptual schemes. Theproposed complexity measures for conceptual schemes have in commonthat they only capture the complexity of the static or structural aspectsof a conceptual schema. We therefore present a complementary suite ofmeasures that focuses on conceptual schema complexity as seen from adynamic perspective.


48

POELS G. and DEDENE G., Measures for Object-EventInteractions��5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0015, 15 p.,2000.

A suite of measures is presented that addresses two problem areaswithin contemporary object-oriented software measurement theory andpractice, i.e. the lack of OOA measures and the lack of measures forbehavioural aspects of software. Our suite of measures is based on aformally defined model of object-event interaction, called the object-event association matrix. Generally, the objects in a domain or systemare affected by the occurrence of real-world or information-systemevents. A framework for measurement is presented that expresses andmeasures attributes (features, properties, characteristics) of objects,related to the data, function and dynamic behaviour dimensions ofsoftware, in terms of object-event interactions. This framework allowsfor early measurement because it applies to OOA, CBSE, and domainanalysis methods that support the notion of events, or that supportsimilar dynamic concepts (use cases, scenarios, actions) that can betransformed into events.

POELS G., VIAENE S. and DEDENE G., Distance Measures forInformation System Reengineering� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0012, 17 p., 2000.

We present an approach to assess the magnitude and impact ofinformation system reengineering caused by business process change.This approach is based on two concepts: object-oriented businessmodeling and distance measurement. The former concept is used tovisualize changes in the business layer of an information systemarchitecture. The latter concept is used to quantify these changes. Thepaper also describes the application of our approach in the context offront-office system design.OR/MS index:decision support systems: airline selection for business travel.transportation: airline selection for business travel.

SNOECK M. and DEDENE G., Characterising Aggregations withExistence Dependency� 5HVHDUFK� 5HSRUW� '7(:�� .�8�/HXYHQ�� nr�0034, 38 p., 2000.

The concept of aggregation is considered as one of the basic principlesin object-oriented analysis. There is however no standard definition ofthis concept and each object-oriented analysis method has its owndefinition of aggregation. The aim of this paper is not to discuss thedifferent types of aggregation that exist. However, having assessed thecomplexity of the concept, we will illustrate how a basic set of formalconcepts is sufficient to define of the structural and behavioral aspectsof different existing flavours of aggregation. If a development methodwants to offer a rich concept such as aggregation, it can define thesemantics of the desired flavour of the aggregation using these coreformal concepts. Analysts then have the choice to use the aggregationdefined by the method or to fall back on the core concepts if a differentflavour of aggregation is needed to model the situation at hand.


49

Keywords: object-oriented analysis; aggregation; composition;conceptual modelling.

SNOECK M., POELMANS S. and DEDENE G., An architecturefor bridging OO and Business Process Modelling,�5HVHDUFK�5HSRUW'7(:��.�8�/HXYHQ��nr� 0009, 23 p., 2000.

Workflow systems and object-oriented (OO) technology haveundoubtedly been some of the most important domains of interest ofinformation technology over the past decade. Both domains however,have largely evolved independently, and not much research can befound in which OO principles and concepts have been applied toworkflow systems or vice versa. In this paper we show how the twodomains can be integrated. By integrating both domains, businessprocess modelling can benefit from the advantages of the object-oriented approach. On the other hand, a more process orientedapproach to object-oriented development would enhance theorganisational fit in of object-oriented information systemsdevelopment. The architecture that results from this integration is atier-based one with a separate tier for workflow aspects.

SNOECK M. and POELS G., Improving the Reuse Possibilities ofthe Behavioral Aspects of Object-Oriented Domain Models5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0033, 24 p., 2000.

Reuse of domain models is often limited to the reuse of the structuralaspects of the domain (e.g. by means of generic data models). In object-oriented models, reuse of dynamic aspects is achieved by reusing themethods of domain classes. Because in the object-oriented approachany behavior is attached to a class, it is impossible to reuse behaviorwithout at the same time reusing the class. In addition, because of themessage passing paradigm, object interaction must be specified as amethod attached to one class which is invoked by another class. In thisway object interaction is hidden in the behavioral aspects of classes.This makes object interaction schemas difficult to reuse and customize.The focus of this paper is on improving the reuse of object-orienteddomain models. This is achieved by centering the behavioral aspectsaround the concept of business events.This paper has been presented at the ER2000 Conference, 9-12 October,Salt Lake City, USA.

VIAENE S., BAESENS B., VAN DEN POEL D., DEDENE G. andVANTHIENEN J., Wrapped Feature Selection for NeuralNetworks in Direct Marketing,� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0019, 14 p., 2000.

In this paper, we try to validate existing theory on and developadditional insight into repeat purchasing behaviour in a direct-marketingsetting by means of an illuminating case study. The case involves thedetection and qualification of the most relevant RFM (Recency,Frequency and Monetary) features, using a wrapped feature selectionmethod in a neural network context. Results indicate that elimination ofredundant/irrelevant features by means of the discussed featureselection method, allows to significantly reduce model complexity


50

without degrading generalisation ability. It is precisely this issue thatwill allow to infer some very interesting marketing conclusionsconcerning the relative importance of the RFM-predictor categories.The empirical findings highlight the importance of a combined use ofall three RFM variables in predicting repeat purchase behaviour.However, the study also reveals the dominant role of the frequencyvariable. Results indicate that a model including only frequencyvariables still yields satisfactory classification accuracy compared to theoptimally reduced model.

VIAENE S., VEUGELERS R. and DEDENE G., Two-personInsurance Bargaining under Risk Aversion, 5HVHDUFK� 5HSRUW

'7(:��.�8�/HXYHQ��nr� 0002, 23 p., 2000.

Based on the setting defined in a paper by Kihlstrom and Roth (1982),we consider a 2-person insurance bargaining game in which a risk-averse client is bargaining with an insurer. Existing literature using anaxiomatic Nash cooperative bargaining game shows that risk aversionconstitutes a disadvantage for the client. Essentially the same resultwill in general arise in a non-co-operative bilateral bargaining game ofcomplete and perfect information. We complement the discussion onthe impact of risk aversion by constructing a non-co-operativealternating offer bargaining game for the insurance market where weaccount for ’risk aversion’ of the players through the discount factor.

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VANDENBULCKE J. en LEMAHIEU W., Databasesystemen voorde praktijk, tenHagenStam / Wolters-Kluwer, Den Haag, 560 blz.,december 2000.

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VANTHIENEN J. and WETS G., 2Q�WKH�XVH�RI�GHFLVLRQ�WDEOHV�LQFRQVWUXFWLQJ� DQG� GHVLJQLQJ� LQWHOOLJHQW� V\VWHPV� IRU� PDQDJHPHQW

DSSOLFDWLRQV, in Vasarhelyi M. A. & O’Leary D. (Eds.), ArtificialIntelligence in Accounting and Auditing, Volume 5: Creating Valuewith AI, Markus Wiener Publishers, Princeton, 2000, pp. 200-214.

Based on extensive research and experiences with decision tableengineering, it is argued in this paper that the traditional role of thedecision table formalism can be extended, starting from the early stagesof knowledge acquisition and representation, up to and including thefinal transformation of decision tables into existing knowledge basedtools and products. This generation process has been implemented forAionDS and has been applied to real world applications.

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51


Project BWTS97/01� %LODWHUDOH� :HWHQVFKDSSHOLMNH� HQ

7HFKQRORJLVFKH�6DPHQZHUNLQJ met Polen (Wroclaw University ofEconomics), Knowledge acquisition and intelligent distributedlearning in resolving managerial issues, Vlaamse regering,administratie wetenschap en innovatie, januari 1997 - maart 2001.Hoofdpromotor: L.U.C.Co-promotor: VANTHIENEN J.

This research project on the domain of intelligent methods and toolswill concentrate from one site on the acquisition of knowledge and fromthe other side on the intelligent information search on the net, theintegration of this information flow in the internal information system,and the distributed learning via the net.

2QGHU]RHNVSURJUDPPD� )�:�2� nr. G.0135.95, Ontwerp vanmethoden voor ontwikkeling, validatie en implementatie vankennisgebaseerde informatiesystemen, januari 1995 - december2000. Promotor: VANTHIENEN J. Co-promotor: VERHELST M.

Het project heeft als doel een inzicht te verschaffen in demethodologische onderbouw van de ontwikkeling van kennisgebaseerdeinformatiesystemen en het gebruik van diverse representatietechniekenbij het opbouwen, weergeven of toepassen van kennis in het algemeen.Het onderzoek richt zich daarom essentieel naar de uitdieping enuitbreiding van methoden en formalismen voor ontwikkeling vandergelijke systemen vanaf het voortraject van kennisverwerving envoorstelling, over kwaliteitsbewaking en -verbetering, tot en met heteindstadium van transformatie van de kennis naar bestaandekennisgebaseerde hulpmiddelen en producten.

129$;(66� Implementation report: Integration of third-partytools and web-clients with a MERODE enterprise layer forNovaxess, December 2000.Promotor: LEMAHIEU W.

22,�SURMHFW� .�8�/HXYHQ, GIZEH, Geïntegreerde implementatievan Zelftoetsingomgevingen in de ETEW Curricula,VANTHIENEN J. (promotor) (00-02).

Het doel van het project is niet om nieuwe producten i.v.m. automatischtoetsen te ontwikkelen, maar om de invoering van toetspakketten(vooral in de kandidaturen) mogelijk te maken en te begeleiden, hetgebruik door studenten en docenten te ondersteunen en de zelftoetsenbeter te integreren in het curriculum en in de kalender


VANTHIENEN J., Guest Professor UIA, Informatie- enBibliotheekwetenschap.

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52


LEEMANS H., organised the Third International Conference onMatrix Analytic Methods in Stochastic Models, Leuven 12-14 July2000.Conference Chair: LEEMANS H., Program Co-chair:LATOUCHE G. (U.L.B., Belgium) and TAYLOR P. (University ofAdelaide, Australia)

PUT F., Conference Chairman, Workflow and DocumentManagement, Institute for International Research, Diegem, 22-23February 2000.

VANTHIENEN J., member of the program committee, 8th

Conference on Knowledge Discovery in Databases, Turawa,Poland, 19-21 May 2000.


VANTHIENEN J., lid van de onderzoeksraad van EHSAL.


VANTHIENEN J., Chairholder, PricewaterhouseCoopersManagement Consultants Chair on E-business, 2000-2005.


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53

0$1$*(5,$/�(&2120,&6�$1'�675$7(*<

)DFXOW\�0HPEHUV Christophe Crombez, Koenraad Debackere, Raymond De Bondt, LeoSleuwaegen, Marcel Van Acoleyen and Reinhilde Veugelers.

$VVRFLDWH�)DFXOW\ Rick Donckels.

$VVLVWDQWV Petra Andries, Stefano Comino, Kristien Coucke, Koenraad DeBacker, Thierry Debels, Isabelle De Voldere, Dirk Dewals, KristofMertens, Ioannis Notoglou, Marina Ranga, Jo Reynaerts, KatrienRommens, Peter Schaekers, Johan Van Herck, Bart Van Looy, ArnoldVerbeeck, Edwin Zimmermann.

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DEBACKERE K., Managing academic R&D as a business atK.U.Leuven: context, structure and process, 5'� 0DQDJHPHQW,Vol. 30, No 4, 323-328, 2000.

In this paper, we elaborate on how academic R&D can be managed as abusiness Based on the case of K.U.Leuven Research and Development,it is shown how an academic institution can develop the context,structure and processes conducive to managing academic R&D as abusiness. It is argued that universities that intend to take advantage ofthe economic opportunities of their R&D programmes, should leveragetheir innovation potential through appropriate strategies, organizationalstructures and management processes that allow them to manage part of

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54

their R&D portfolio as a business without hampering though thefundamental academic values and activities of research and teaching.This balancing act has been the responsibility of K.U.Leuven Researchand Development for the last 28 years. It is the subject of the case studyreported in this paper.

DEBACKERE K. and CLARYSSE B, Getting an insight in thedeterminants of new product introductions of USbiopharmaceutical startups, ,QWHUQDWLRQDO� -RXUQDO� RI

%LRWHFKQRORJ\, Vol. 2, No. 1, 1-24, 2000.

In this paper, the determinants of new product introductions of 117 U.S.biopharmaceutical start-ups are analysed longitudinally over the period1980 – 1996. Using probit- and logit-modelling, an insight is obtainedinto the role dynamic capabilities, network and organizational structurevariables play, in addition to the traditional size and scope variables, indetermining new product introductions by biopharmaceutical start-ups.

CROMBEZ C., Spatial Models of Logrolling in the EuropeanUnion, (XURSHDQ�-RXUQDO�RI�3ROLWLFDO�(FRQRP\��Vol. 16, p. 707-37,2000.

This paper presents spatial models of logrolling in the EU. It analyzesthe Commission appointment, logrolling and policy-making processesunder the EUs principal legislative procedures: the consultation,cooperation and codecision procedures. The theory characterizesequilibrium EU policies and sets of successful policies, i.e., sets ofpolicies that can become EU policy during the logrolling andpolicy-making processes. It also determines countries' optimalnomination strategies and countries' and legislators' optimal votingstrategies during the Commission appointment process. It concludesthat the EU institutions provide opportunities for efficient and stableexchanges of votes.

CROMBEZ C., Institutional Reform and Codecision in theEuropean Union, &RQVWLWXWLRQDO�3ROLWLFDO�(FRQRP\��Volume 11, p.41-57, 2000.

This paper studies the Treaty of Amsterdam's reform of the co-decisionprocedure in the European Union. The paper presents spatial models ofthe procedure, and examines whether the Treaty significantly alters it.The theory analyzes the implications of the Treaty for the equilibriumEU policies and the institutions' powers. It characterizes sets of policiesthe Commission can successfully propose under the old procedure, andsets of policies the Council and the Parliament can successfully proposeas joint texts under the new procedure. The paper concludes that thenew procedure does not lead to a further increase in the Parliament'spowers, as intended by the drafters of the Treaty. Rather it finds thatthe Treaty eliminates the Commission's power under co-decision andmay increase indecision.

'7(:�5HVHDUFK�$FWLYLWLHV�� 0DQDJHULDO�(FRQRPLFV�DQG�6WUDWHJ\

55

CROMBEZ C., STEUNENBERG B. and CORBETT R.,Understanding the EU Legislative Process: Political Scienstists’ andPractitioners’ Perspectives, (XURSHDQ� 8QLRQ� 3ROLWLFV, Volume 1,Number 3, p. 363-81, 2000.

DE BONDT R., Roofdieren in de markt?, 7LMGVFKULIW� YRRU

(FRQRPLH�HQ�0DQDJHPHQW, Volume 45, p. 253-265, 2000.

SLEUWAEGEN L. and GOEDHUYS M., Entrepreneurship andgrowth of entrepreneurial firms in Côte d’Ivoire, -RXUQDO� RI'HYHORSPHQW�6WXGLHV, Volume 36, Number 3, p. 122-144, 2000.

This article analyses the determinants of individuals’ choice for self-employment and entrepreneurial success in Côte d’Ivoire.Entrepreneurial activity is found to be undertaken by individuals whosucceed in increasing their entrepreneurial abilities and reducing therisk of starting a business through a learning process that takes placethrough ageing, professional experience, and apprenticeship or,alternatively, formal education. The learning process takes place bothbefore and after entry into the industry, as firms grow into a larger size.However, financial constraints continue to play a major restraining rolefor entrepreneurship and firm growth.

SLEUWAEGEN L. and PENNINGS E., International relocation:firm and industry determinants, (FRQRPLFV�/HWWHUV, Volume 67, p.179-186, 2000.

This article is the first to explore the determinants of internationalrelocation of a firm. It is found that labour intensive firms in a highlyindustrialized and open economy such as Belgium tend to relocate moreto other countries than their highly productive capital intensivecounterparts. Access to a global network, firm size, and the rate ofinnovation have a positive effect on the probability of relocation. Sunkcost and uncertainty have a negative impact on the probability ofrelocation. The significance of innovation highlights the critical role oftransferable technological advantages on the relocation decision whilethe significance of the global network, sunk cost and uncertaintysupport recent developments in the application of real option theory tointernational investment. The positive effect of firm size andprofitability on the relocation decision is clearly distinct from its effecton the exit decision of a firm.

VAN LOOY B., LELIAERT A., DE WEERDT S., CORTHOUTSF. and BROECKMANS J., Establishing A Relational Field ThatFosters Learning Processes: Some Tentative Propositions DerivedFrom Trainee Experiences, (XURSHDQ� -RXUQDO� 2I� :RUN� $QG

2UJDQLVDWLRQDO�3V\FKRORJ\, 9, 2, 189-210, 2000.


56


DEBACKERE K., DE MOOR B. and HINOUL M., Op de Snelwegvan Onderzoeker naar Ondernemer, +HW�,QJHQLHXUVEODG, 3, 16-21.,2000.



DEBACKERE K., Deploying Integrated Design Capabilities inNew Product Development: A Managerial and Product EconomicAnalysis, Proceedings CoDesigning 2000 Conference Coventry,Springer Verlag, p. 137-141, 2000.

DEBACKERE K., Managing University-Industry TechnologyTransfer, Proceedings ASTP Conference 2000, Paris, p. 82–88,2000.

DEBACKERE K. and VAN LOOY B., Managing IntegratedDesign Capabilities in New Product Design & Development,Proceedings EIASM 2000 Product Development ManagementConference, Leuven, Belgium, p. 91-106, 2000.

VAN LOOY B., DEBACKERE K. and BOUWEN R., IntroducingAccelerated Product Development Process: Anywhere, Anytime?,Proceedings EIASM 2000 Product Development ManagementConference, Leuven, Belgium, p. 551-572, 2000.

ZIMMERMANN E., VAN LOOY B., DEBACKERE K. andRANGA M., A Methodological Framework for Examining Scienceand Technology, Proceedings EIASM 2000 Product DevelopmentManagement Conference, Leuven, Belgium, p. 585-601, 2000.


DEBACKERE, K., Organizing Integrated Design Capabilities,2000 INFORMS Conference, San Antonio, Texas, 4-6 November2000.

DEBACKERE K., Models for Academic Spin-Off Creation, NWOSymposium, Utrecht, The Netherlands, 30 June 2000.

DEBACKERE K., LUWEL M. and VEUGELERS R., Patent Dataas a Tool to Monitor S&T Portfolios, Sixth InternationalConference on Science and Technology Indicators, Leiden, TheNetherlands, 24-27 May 2000.

&RQIHUHQFHV


57

DEBACKERE K. and VAN LOOY B., The Role of New DesignTechnologies in NPD, Nijmegen Symposium on InnovationManagement, Nijmegen, The Netherlands, 5-6 June 2000.

CROMBEZ C��Information, Lobbying and the Legislative Processin the European Union, Annual Meetings of the American PoliticalScience Association, Washington D.C., USA, September 2000.

This paper presents spatial models of policy making in the EuropeanUnion and focuses on interest group lobbying. It analyzes the twoprincipal legislative procedures: consultation and codecision. Lobbyingis modeled as a game of strategic information transmission from aninformed lobbyist to uninformed policy makers. The theorycharacterizes sets of proposals that can be adopted under bothprocedures and determines the proposers’ optimal proposal strategies.It analyzes the lobbyist’s lobbying strategies at the proposal and votestages, and studies policy makers’ voting strategies.

CROMBEZ C., Information and the Legislative Process in theEuropean Union, Annual Meetings of the Public Choice Society�Charleston, USA, March 2000.

This paper presents spatial models of policy making in the EuropeanUnion and focuses on informational asymmetries and interest grouplobbying. It determines optimal lobbying strategies under the EU'sthree principal legislative procedures: the consultation, cooperation andcodecision procedures. Lobbying is modeled as a game of strategicinformation transmission as in Austen-Smith (1993). The paper studiesagenda, amendment and vote stage lobbying. At the agenda stage aninterest group can lobby the Commission. At the amendment and votestages it can lobby the Council and the Parliament. The paper finds thatat the amendment stage an interest group lobbies the institution whosepreferences are closer to its own. It lobbies the institution whosepreferences are further from its own at the vote stage.

DE BACKER K., Access to external knowledge: an empiricalanalysis of alliances as spillover channel, presented at Academy ofInternational Business, U.K. Chapter, Scotland, Glasgow, April2000.

The theoretical IO literature has modeled the relationship betweenspillovers and cooperative (R&D)-agreements extensively; suggestingthat spillovers induce cooperation as a means to internalize theseinvoluntary effects, while cooperation simultaneously enhancesvoluntary spillovers through information sharing. The empiricalliterature on this topic however is scarce. This paper empiricallyassesses the interactions between alliances and transfers of knowledge.A first finding is that, consistent with the theoretical literature, theoccurrence of alliances is correlated with traditional measures of(involuntary) spillovers, based on input-output relations and technologyproximity. But not only R&D-cooperation corresponds to (the lack of)appropriability; the evidence shows that also non-R&D alliances areassociated with transfers of knowledge. In a second part the impact ofexternal know-how on the performance of industries in OECD-


58

countries is analyzed. Following the association of alliances withspillovers, the impact of external know-how is weighted by theoccurrence of alliances with the external source, based in the sameindustry or in other industries. Using information about 588 inter- andintra-industry, R&D and non-R&D alliances formed in the period ‘86-’96, we find that industry R&D levels accessed through intra-industryR&D alliances have a negative impact on (the growth of) ownproductivity, while this effect is positive for industries with intra-industry non-R&D alliances. Know-how from other sectors has nosignificant impact on productivity, unless for those sectors with whichR&D alliances are prevailing that extend beyond R&D to includeproduction and/or distribution. In contrast to the findings in otherstudies, this effect of inter-industry spillovers is found to be negative.

SLEUWAEGEN L. and DE BACKER K. MultinationalEnterprises, Market Integration and Trade Structure: What remainsof the Standard Goods Hypothesis? Presented at Academy ofInternational Business, USA, Phoenix, November 2000 and atEuropean International Business Academy, Netherlands,Maastricht, December 2000.

In extending traditional empirical trade models with multinationalfirms, this paper shows the effect of the transfer of firm specifictechnology and intangible assets by these firms on the structure of hostcountries. For Belgium, a small open economy with a large presence offoreign multinationals, this effect is of crucial importance and byneglecting it previous studies appeared to have produced biased results.The econometric results show how the large multinational presenceinduced by the European integration has shifted Belgium’s tradestructure towards differentiated products, thereby challenging thestandard goods hypothesis which states that small countries tend tospecialize in non-differentiated products. Spain and Ireland havewitnessed an increase in foreign direct investment and a shift in tradestructure similar to Belgium following their joining of the EC.

VAN LOOY B., BOUWEN R. and DEBACKERE K., Intra- orinter-organisational collaboration; are they really different?, paperpresented at the Multi-Party Conference, Leuven, 29-30 May 2000.



DEBACKERE K., Understanding the Dynamics of EmergingTechnologies, SPRU Doctoral Symposium, University of Sussex,Sussex, U.K., April 2000.


DEBACKERE K., LUWEL M. and VEUGELERS R., Patent dataas a tool to monitor S&T portfolios,� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0040, 19 p., 2000.

5HVHDUFK5HSRUWV


59

This article deals with the use of patent data to monitor science andtechnology (S&T) portfolios. S&T portfolios have become central toolsto examine and to monitor the vitality of both institutions and regions inthe innovation game that underpins their economic growth anddevelopment. Those portfolios have to be monitored not only at theintra-organizational level, but also at the inter-organizational level andat the levels of specific systems of innovation. Therefore, thedevelopment of appropriate, easy-to-use and transparent, benchmarkindicators to assess the strengths and weaknesses of organizational S&Tportfolios is tantamount. In this paper, we report the construction ofsuch a benchmark indicator and we assess its usefulness by applying itto the European Patent Database.

CASSIMAN B., PEREZ-CASTRILLO D. and VEUGELERS R.,Endogeneizing know-how flows through the nature of R&Dinvestments, 5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0039, 34 p.,2000; CEPR Discussion paper 2622, 2000.

In this paper we carefully link knowledge flows to and from a firm’sinnovation process with this firm’s investment decisions. Three typesof investments are considered: investments in applied research,investments in basic research, and investments in intellectual propertyprotection. Only when basic research is performed, can the firmeffectively access incoming knowledge flows and these incomingspillovers serve to increase the efficiency of own applied research. Thefirm can at the same time influence outgoing knowledge flows,improving appropriability of its innovations, by investing in protection.Our results indicate that firms with small budgets for innovation willnot invest in basic research. This occurs in the short run, when thebudget for know-how creation is restricted, or in the long-run, whenmarket opportunities are low, when legal protection is not veryimportant, or, when the pool of accessible and relevant external know-how is limited. The ratio of basic to applied research is non-decreasingin the size of the pool of accessible external know-how, the size andopportunity of the market, and, the effectiveness of intellectual propertyrights protection. This indicates the existence of economies of scale inbasic research due to external market related factors. Empiricalevidence from a sample of innovative manufacturing firms in Belgiumconfirms the economies of scale in basic research as a consequence ofthe firm’s capacity to access external knowledge flows and to protectintellectual property, as well as the complementarity between legal andstrategic investments.JEL classification: O32, O34, L13.Keywords: spillovers; basic R&D; intellectual property protection.

CASSIMAN B. and VEUGELERS R., External TechnologySources: Embodied or Disembodied Technology Acquisition5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0004, 23 p., 2000.

This paper analyzes the choice between different innovation activitiesof a firm. In particular, we study the technology acquisition decision ofthe firm, i.e. its technology BUY decision as part of the firm'sinnovation strategy. We take a closer look at the different types ofexternal technology acquisition where we distinguish two broad types


60

of technology buy decisions. On the one hand, the firm can acquirenew technology which is HPERGLHG in an asset that is acquired such asnew personnel or (parts of) other firms or equipment. On the otherhand, the firm can obtain new technology GLVHPERGLHG through alicensing agreement or by outsourcing the technology developmentfrom an R&D contractor or consulting agency. Through a series ofProbit regressions, we discuss variables that might affect externaltechnology acquisition choices of the firm and pay special attention tothe firm’s abilities to scan the market for technology and to absorb thetechnology acquired. Furthermore, we analyze the effect of differentappropriation regimes on the decision of the firm to source technology.Keywords: Technology acquisition, innovation, appropriability,absorptive capacity.

DE BONDT R., Variabel Vergoeden, 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0007, 33 p., 2000.

Vele relaties en transacties binnen een organisatie omvatten één ofandere vorm van delegeren. Variabele vergoedingen kunnen hierbij deuitvoerder beter motiveren. Er bestaan hierbij tendensen tot het gevenvan zowel sterkere als zwakkere prikkels, alhoewel beloningen nooitlager mogen zijn dan wat elders kan verdiend worden. De redenen engevolgen komen uitgebreid aan bod.

SLEUWAEGEN L. and DE BACKER K., Multinational Firms,Market Integration and Trade Structure: What remains of theStandard Goods Hypothesis?, 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0045, 27 p., 2000.

In extending traditional empirical trade models with multinationalfirms, this paper shows the effect of transferring firm specifictechnology on the trade structure of host countries. For Belgium, asmall open economy with a large presence of multinational firms, thiseffect is of crucial importance and by neglecting it previous studiesappeared to have produced biased results. The results show how thelarge multinational presence induced by the European integration hasshifted Belgium's trade structure towards differentiated products,making the standard goods hypothesis less appropriate to describe thetrade composition of small open economies characterized by a largepresence of multinational firms.Key Words: Multinational firms; market integration; trade structure.JEL-codes:� F14, F15, F23.

VAN LOOY B., ANDRIES P. and DEBACKERE K., High TechVenturing, Research Report Published for the RITTS ProjectNoord-Brabant, 2000.

VIAENE S., VEUGELERS R. and DEDENE G., Two-personInsurance Bargaining under Risk Aversion, 5HVHDUFK� 5HSRUW

'7(:��.�8�/HXYHQ��nr� 0002, 23 p., 2000.

Based on the setting defined in a paper by Kihlstrom and Roth (1982),we consider a 2-person insurance bargaining game in which a risk-averse client is bargaining with an insurer. Existing literature using an


61

axiomatic Nash cooperative bargaining game shows that risk aversionconstitutes a disadvantage for the client. Essentially the same resultwill in general arise in a non-co-operative bilateral bargaining game ofcomplete and perfect information. We complement the discussion onthe impact of risk aversion by constructing a non-co-operativealternating offer bargaining game for the insurance market where weaccount for ’risk aversion’ of the players through the discount factor.JEL: L22, O32.

9,,� %RRNV

DE BONDT R., Met vrije handen, Tielt, Lannoo, 216 p., 2000.


CROMBEZ C., Policy Making and Commission Appointment inthe European Union, in Decision Rules in the European Union: ARational Choice Perspective, MOSER P., SCHNEIDER G. andKIRCHGAESSNER G. (eds.), London, Macmillan, p. 48-67, 2000.

DEBACKERE K., Academic Science and Innovation: From R&Dto spin-off creation, Topics in Technology Transfer, TwenteUniversity Press, p. 77- 82, 2000.

DEBACKERE K., Parallel Design, (QF\FORSDHGLD�RI�(QJLQHHULQJDQG�7HFKQRORJ\�0DQDJHPHQW, p. 230-234, 2000.

DEBACKERE K. and RAPPA M.A., Technological Communitiesand the Diffusion of Knowledge: a Replication and Validation,Readings in Technology Management, Twente University Press,p. 385-410, 2000.

DEBACKERE K., VAN LOOY B. and VLIEGEN J., A ProcessView on Managing Quality in the Creation of TechnicalInnovation: Lessons from Field Research, Readings in TechnologyManagement, Twente University Press, p. 175-198, 2000.

DE BONDT R., Cultuur en samenwerking, in Over vertrouwen enbedrijf, Vandevelde A. (Red.), Leuven, Acco, p. 85-99, 2000.

RAPPA M.A. and DEBACKERE K., An Analysis of Entry andPersistence Among Scientists in an Emerging Field of Science: TheCase of Neural Networks, Readings in Technology Management,Twente University Press, p. 355-384, 2000.


CROMBEZ C., member of the Editorial Board of the /HJLVODWLYH6WXGLHV�4XDUWHUO\� 1997-2000.

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62

CROMBEZ C., referee for the $PHULFDQ�3ROLWLFDO�6FLHQFH�5HYLHZ�the %ULWLVK� -RXUQDO� RI� 3ROLWLFDO� 6FLHQFH�� &RQVWLWXWLRQDO� 3ROLWLFDO(FRQRP\�� the� (XURSHDQ�(FRQRPLF�5HYLHZ�� the (XURSHDQ� -RXUQDORI�3ROLWLFDO� (FRQRP\� (XURSHDQ�8QLRQ�3ROLWLFV�� the ,QWHUQDWLRQDO-RXUQDO� RI� ,QGXVWULDO� 2UJDQL]DWLRQ�� the -RXUQDO� RI� 7KHRUHWLFDO3ROLWLFV��3ROLWLFDO�6WXGLHV��3XEOLF�&KRLFH��and the 7LMGVFKULIW� YRRU(FRQRPLH�HQ�0DQDJHPHQW�

DEBACKERE K., member of the Editorial Board of 5'

0DQDJHPHQW since 1997.

DEBACKERE K., reviewer for $FDGHP\�RI�0DQDJHPHQW�-RXUQDO,-RXUQDO�RI�3URGXFW�,QQRYDWLRQ�0DQDJHPHQW, 2UJDQL]DWLRQ�6FLHQFH,5'�0DQDJHPHQW, 6FLHQWRPHWULFV and 7LMGVFKULIW� YRRU�(FRQRPLHHQ�0DQDJHPHQW�

SLEUWAEGEN L., member editorial board of the ,QWHUQDWLRQDO-RXUQDO�RI�WKH�(FRQRPLFV�RI�%XVLQHVV, since 1994.

SLEUWAEGEN L., referee for (XURSHDQ� (FRQRPLF� 5HYLHZ�

-RXUQDO� RI� ,QGXVWULDO� (FRQRPLFV�� ,QWHUQDWLRQDO� -RXUQDO� RI

,QGXVWULDO�2UJDQL]DWLRQ��-RXUQDO�RI�,QWHUQDWLRQDO�%XVLQHVV�6WXGLHV�

,QWHUQDWLRQDO� -RXUQDO� RI� 5HVHDUFK� LQ� 0DUNHWLQJ�� 5HYLHZ� RI

(FRQRPLFV� DQG� 6WDWLVWLFV�� 7LMGVFKULIW� YRRU� (FRQRPLH� HQ

0DQDJHPHQW�� (FRQRPLVFK� HQ� 6RFLDDO� 7LMGVFKULIW� and� 5HFKHUFKHV(FRQRPLTXHV�GH�/RXYDLQ�

VEUGELERS R., associate editor of the ,QWHUQDWLRQDO� -RXUQDO� RI,QGXVWULDO�2UJDQLVDWLRQ, since 1999.

VEUGELERS R., member of the editorial board: 6SDQLVK

(FRQRPLF�5HYLHZ and 7LMGVFKULIW�YRRU�(FRQRPLH�HQ�0DQDJHPHQW�

VEUGELERS R., Referee for $PHULFDQ� (FRQRPLF� 5HYLHZ,(XURSHDQ� (FRQRPLF� 5HYLHZ�� (FRQRPLF� -RXUQDO�� -RXUQDO� RI

,QGXVWULDO� (FRQRPLFV�� ,QWHUQDWLRQDO� -RXUQDO� RI� ,QGXVWULDO

2UJDQL]DWLRQ�� 6FDQGLQDYLDQ� -RXUQDO� RI� (FRQRPLFV�� 0DQDJHULDO

DQG� 'HFLVLRQ� (FRQRPLFV, (FRQRPLFV� RI� ,QQRYDWLRQ� DQG� 1HZ7HFKQRORJ\�� -RXUQDO� RI� (FRQRPLFV� � 0DQDJHPHQW� 6WUDWHJ\�

-RXUQDO� RI� ,QWHUQDWLRQDO� %XVLQHVV� 6WXGLHV�� 7KH� ,QWHUQDWLRQDO

-RXUQDO� RI� 5HVHDUFK� LQ� 0DUNHWLQJ�� 7LMGVFKULIW� YRRU� (FRQRPLH� HQ

0DQDJHPHQW��(FRQRPLVFK�HQ�6RFLDDO�7LMGVFKULIW�


$:,� Ontwikkeling van een WTI-Indicatorensysteem, March 2000– April 2001.



63

Promotor: DEBACKERE, K.

&156, Innovation et strategies des firmes: course au brevet etcession de license, Université de Paris I, October 2000 – September2001.Co-promotor: VEUGELERS R.

&156, Les enjeux economiques de l’innovation, Université deParis I, September 2000 – August 2001.Co-promotor: VEUGELERS R.

':7&, The strategic analysis of organizations: microeconomic andmanagement perspectives, with an application to universities,Interuniversity Attraction Pole (IUAP P4/28), 1997-2001,Promotor: DEWATRIPONT M. (ULB)Co-promotor: DE BONDT R.

(�&�� Alfa project LANMOT Latin American Network onManagement of Technology, March 1999 – July 2000.Promotor: DEBACKERE K.

(�&�� Common Base for Science and Technology Indicators,CSTBII Program, Linking Science and Technology, March 2000 –March 2002.Promotors: DEBACKERE K., LUWEL M. and VEUGELERS R.

(&, CBSTII Common Basis for Science, Technology andInnovation Indicators, Mergers & Acquisitions and Science andTechnology Policy, Lot CBSTII-ST1-B4, January 2000 – December2001.Co-promotor: VEUGELERS R.

(�&�� RITTS Project Noord Brabant, Developing a RegionalInnovation Policy, February 2000 – December 2000.Promotor: DEBACKERE K.

(&�'*,,�� Service Contract, Determinants of industrialconcentration, market integration and efficiency in the EuropeanUnion, December 1999- November 2000.Co-promotor: VEUGELERS R.

)�:�2�, Product differentiation and pricing in the Belgian auditmarket, April 2000 – March 2003.Co-promotor: VEUGELERS R.

)�:�2�, Spillovers, networks and company innovation efforts, G.0131.98, January 1998- December 2001.Promotors: VEUGELERS R. and DEBACKERE K.


64

,:7�972, Econometric and Methodological Analysis of R&D inFlanders, July 1999- January 2000.Promotor: VEUGELERS R.

3%2� 9ODDPVH� 2YHUKHLG� Een Longitudinale Analyse van deDoorstroming van het Wetenschappelijk Potentieel naarTechnologie-Exploitatie en (innovatieve) Performantie inVlaanderen, Oktober 2000 – Oktober 2002.Promotors: DEBACKERE K. and VEUGELERS R.

3%2�9ODDPVH�2YHUKHLG� Netwerking en innovatie: het effect vanstrategische allianties op de innovatie-strategieën en performantiein Vlaamse ondernemingen (PBO99B/3/24), september 2000 –augustus 2003.Promotor: VEUGELERS R.

3%2� 9ODDPVH� 2YHUKHLG� Ontwikkeling van een MethodologischKader voor Wetenschaps- en Technologieverkenning inVlaanderen, Oktober 1999 – Oktober 2000.Promotors: DEBACKERE K. and VEUGELERS R.

3%2�9ODDPVH�2YHUKHLG� Uitbreiding van de EU naar Oost-Europa:becijfering en prognose van de handelsgebonden effecten op desociaal-economische realiteit in Vlaanderen, Oktober 1999 -September 2001.Co-promotor: VEUGELERS R.

95:%, Development of a Price index for R&D expenditures,1999 – 2000.Co-promotor: VEUGELERS R.


5L\DQWR� <RKDQHV� (NR, (VVD\V� RQ� WKH� LQWHUQDO� DQG� H[WHUQDOGHOHJDWLRQ� RI� DXWKRULW\� LQ� ILUPV, K.U.Leuven, publicly defendedMay 2000; members of the commission: VAN CAYSEELE P.(promotor), VEUGELERS R. (co-promotor), MACHO-STADLER I. (Universitat Pompeu Fabre, Barcelona), DEGRYSEH., HEREMANS D. and KONINGS J.

9DQ� /RR\� %DUW� 'H� (LJHQKHLG� YDQ� 6DPHQZHUNLQJ� WLMGHQV

2QWZLNNHOSURFHVVHQ� ±� 5HOHYDQWH� ,QWHUDFWLHVWUDWHJLHsQ�

K.U.Leuven, publicly defended 30 November 2000, Promotors:BOUWEN R. and DEBACKERE K.



65


CROMBEZ C., Visiting Associate Professor of European PoliticalEconomy, Institute for International Studies, Stanford University,California, 1999 - present.

SLEUWAEGEN L., Visiting Professor, Research on theDeterminants of Relocation of Activities by multinational firms,Université Paris I, Sorbonne, Paris, May 2000.

SLEUWAEGEN L. Visiting Professor, State Aid and CompetitionPolicy, NEI, Moscow, December 2000.

VEUGELERS R., Visiting Professor, Universitat Pompeu Fabre,Barcelona, 1999-2000; ECARES/ULB, Brussels, 1st semester 2000.


DEBACKERE K. and VEUGELERS R. co-organized the 2000EIASM International Product Development Conference in Leuven,28-30 May 2000.

SLEUWAEGEN L., Program Committee, AIB Conference,Phoenix, Arizona, November 2000.


DEBACKERE K., member of the RADMA (R&D ManagementAssociation) Prize Committee.

DEBACKERE K., member of the STIGON Committee (StichtingInnovatief Geneesmiddelen Onderzoek en Ondernemerschap) ofthe Dutch Research Organization NWO.

DE BONDT R., 75th Annual Conference, Western EconomicAssociation International, Vancouver, Canada, July 2000.

VEUGELERS R., E.A.R.I.E. Conference, Switzerland, Geneva,September 2000.

VEUGELERS R., World Congress of the Game Theory Society,Spain, Bilbao, July 2000.

VEUGELERS R., Strategic Management Society Meeting, Canada,Vancouver, October 2000.

5HVHDUFK�6WD\V


5HVHDUFK&RPPLWWHHV


66

VEUGELERS R., EC-Expert for DG Enterprise, Member of theScientific Advisory Committee assisting in the preparation of theFourth Competitiveness Report III/99/072, Fifth CompetitivenessReport.

VEUGELERS R., EARIE Executive Committee Member, from1999; Member of the Jury for the Young Economist EssayCompetition, from 1999.

VEUGELERS R., Bestuurder-directeur (Director) en Weten-schappelijk Raadgever van het Interuniversitair College voorManagementwetenschappen (CIM), 1998 - 2001.

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CROMBEZ C., Member of the $PHULFDQ� 3ROLWLFDO� 6FLHQFH

$VVRFLDWLRQ, the American Economic Association, and theEuropean Public Choice Society.

DEBACKERE K., Managing Director of .�8�/HXYHQ� 5' andChairman of the *HPPD�)ULVLXV�)RQGV.

DE BONDT R., ‘Pro-decaan’, )DFXOW\� RI� (FRQRPLF� DQG� $SSOLHG(FRQRPLF�6FLHQFHV, Catholic University of Leuven, August 1997-July 2000, Member of the &RXQFLO� IRU� 5HVHDUFK� 3ROLF\,K.U.Leuven, since 1996; President of the board, .�8�� /HXYHQ5HVHDUFK� DQG� 'HYHORSPHQW, since November 1995; President,,QQRYDWLRQ� DQG� ,QFXEDWLRQ�&HQWUH�.�8�� /HXYHQ, n.v., since 1996;Council member, '�� &ROOHQ� 5HVHDUFK� )RXQGDWLRQ� v.z.w., since1996; substitute member µ5DDG� YDQ� %HVWXXU�� ,QWHUXQLYHUVLWDLU&ROOHJH�YRRU�0DQDJHPHQWZHWHQVFKDSSHQ¶� since October 1997.

SLEUWAEGEN, L., MBA Director and Associate Dean, 9OHULFN/HXYHQ�*HQW�0DQDJHPHQW�6FKRRO, 2000 - recent

VEUGELERS R., CEPR Fellow in ,QGXVWULDO� 2UJDQLVDWLRQ� DQG,QWHUQDWLRQDO�7UDGH, from 1999.

2WKHU


67

0$5.(7,1*

)DFXOW\�0HPEHUV Marnik G. Dekimpe, Pierre François, Joseph Leunis, Piet VandenAbeele, Frank Verboven and Luk Warlop.

9LVLWLQJ�)DFXOW\ Gilbert Swinnen (Limburgs Universitair Centrum).

$VVLVWDQWV Sigrid De Clerck, Barbara Deleersnyder, Davy Lerouge, Vincent Nijs,Alexei Novoseltsev, Joke Overmeer, Dirk Smeesters, Gert Thys, KenVan Den Broeck and Wouter Vanhouche.

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DEKIMPE M.G. and HANSSENS D., Time-Series Models inMarketing: Past, Present and Future, ,QWHUQDWLRQDO� -RXUQDO� RI5HVHDUFK�LQ�0DUNHWLQJ, 17, 183 - 193, 2000.

Time-series methods have been available to explain and forecast thebehavior of longitudinal variables for several decades. We first discuss

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68

why, at first, these methods received relatively little attention frommarketing model builders and users. We then show how a number ofobstacles to their more widespread use have recently been attenuated.Finally, we identify four developments that may significantly affect thefuture use of time-series techniques in marketing: the ever-increasingsize of marketing data sets, the rate of change in the marketenvironment, a growing interest in exploring the finance-marketinginterface, and the emergence of internet data sources.

DEKIMPE M.G., PARKER P.M. and SARVARY M., GlobalDiffusion of Technological Innovations: A Coupled-HazardApproach, -RXUQDO�RI�0DUNHWLQJ�5HVHDUFK, 37, 47 - 59, 2000.

The authors propose a new methodology called the ‘coupled-hazardapproach’ to study the global diffusion of technological innovations.Beyond its capability to describe discontinuous diffusion patterns, themethod explicitly recognizes the conceptual difference between thetiming of a country’s introduction of the new technology (the so-calledimplementation stage; Rogers 1983) and the timing of the innovation’sfull adoption in the country (the implementation stage). To illustratethe method, the authors apply it to the global diffusion of digitaltelecommunications switches across more than 160 countries.

DEKIMPE M.G., PARKER P.M. and SARVARY M.,Globalization: Modeling Technology Adoption Timing AcrossCountries, 7HFKQRORJLFDO�)RUHFDVWLQJ� DQG� 6RFLDO�&KDQJH, 63, 25 -42, 2000.

We study global adoption processes where the units of observation arecountries which sequentially adopt a particular innovation. Our goal isto provide a better understanding of how exogenous and endogenouscountry characteristics affect this diffusion process. We develop ageneral model of global adoption processes that allows researchers totest extant theories of cross-country adoption, and illustrate theapproach using data from the cellular telephone industry for 184countries. In our application, we find support for the existence of aglobal ‘demonstration effect’: as the number of countries adopting thetechnology becomes larger, the likelihood of ‘similar’ countriesfollowing their example increases. We also find that isolatedeconomies lag in adopting technologies, and that countries withhomogenous and concentrated populations, and with a high level ofeconomic development are, on average, earlier adopters. Finally, ourmodel supports the managerial intuition that, eventually, all countrieswill adopt cellular technology.

VERBOVEN F. and BETTENDORF L., Incomplete transmissionof coffee bean prices: evidence from the Netherlands, (XURSHDQ5HYLHZ�RI�$JULFXOWXUDO�(FRQRPLFV, 27(1), 1-16, 2000.

'7(:�5HVHDUFK�$FWLYLWLHV�� 0DUNHWLQJ

69

This paper seeks to explain the incomplete transmission of coffeebean prices to consumer prices. We adopt and estimate an aggregatemodel of oligopolistic interaction. We obtain demand and costparameter estimates that are consistent with conventional wisdom inthe industry. Conduct is estimated to be relatively competitive. Ourresults imply that the relatively large share of costs other than beancosts accounts for the greater part of the incomplete pricetransmission. The remaining part is due to markup absorption, but isless important since oligopolistic interdependence is relativelycompetitive.

VERBOVEN F., GNEEZY U. and GUTH W., Presents orInvestments – An experimental analysis, -RXUQDO� RI� (FRQRPLF3V\FKRORJ\, 21(5), 481-493, 2000.

Individuals frequently transfer commodities without an explicit contractor an implicit enforcement mechanism. We design an experiment tostudy whether such commodity transfers can be viewed as investmentsbased on trust and reciprocity, or whether they rather resemble presentswith distributional intentions. Our experiment essentially modifies Berget al.’s investment game by introducing an upper bound to what acontributor can be repaid afterwards. By varying this upper bound,extreme situations such as unrestricted repayment and no repayment(dictator giving) can be approximated without altering the verbalinstructions otherwise. Our results show that individuals contributemore when large repayments are feasible. This is consistent with thetrust and reciprocity hypothesis. Although distributional concerns insome contributions can be traced, they are not nearly close to apreference for equal payoffs.



DEKIMPE M.G., Time Series Models as Decision Support Tools:Past Present and Future, paper presented at the conference onMathematical Models and Decision Support Systems in Marketing,Erasmus University Rotterdam, November 2000.

DEKIMPE M.G. and GIELENS K., Strategic Decisions in theInternational Entry Process: Their Long-Run PerformanceConsequences, paper presented at the 2000 EMAC (EuropeanMarketing Academy) Conference, Rotterdam, May 2000.

GEYSKENS I., GIELENS K. and DEKIMPE M.G., Establishingthe Internet Channel: Short-term Pain but Long-term Gain? paperpresented at the 2000 EMAC (European Marketing Academy)Conference, Rotterdam, May 2000.

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70

GIELENS K and DEKIMPE M.G., Entry Decisions in theInternational Expansion Process: Do They Still Matter in the LongRun, paper presented at the 2000 Marketing Science Conference,Los Angeles, June 2000.

NIJS V.R., DEKIMPE M.G., STEENKAMP J.B. and HANSSENSH., The Category Demand Effects of Price Promotions, paperpresented at the 2000 EMAC Conference, Rotterdam, May 2000and at the 2000 Marketing Science Conference, Los Angeles, June2000.

VAN DEN POEL D., DEKIMPE M.G and LEUNIS J.V.,Segmentation Bases for Database Marketing: Which VariablesMatter? paper presented at the 2000 Marketing ScienceConference, Los Angeles, June 2000.

WARLOP L. and NOVOSELTSEV A., ‘Consumer fair pricejudgments for subsidized and nonsubsidized firms’, at the EMACAnnual Conference, Rotterdam, May 2000.


CARDINAELS E., ROODHOOFT F. and WARLOP L., Benefitsof customer profitability analysis reports in repeated budgetallocation decision making� 5HVHDUFK� 5HSRUW� '7(:�� .�8�/HXYHQ�

nr� 0037, 24 p., 2000.

We study how decision makers learn to improve performance acrossrepeated budget allocation decisions. The costing system they useshould be able to provide information that is of incremental value overmere outcome feedback. We report an experiment demonstrating thatcustomer profitability analysis (CPA) using activity based costingfacilitates learning of the most appropriate allocation of a marketingbudget among customers. In a difficult learning environment,participants receiving CPA information made closer-to-optimal budgetallocation decisions, resulting in higher cumulative profits compared tosubjects receiving traditional accounting reports. In easier learningenvironments, CPA yielded a smaller additional benefit over atraditional costing system combined with outcome feedback.

DEKIMPE M.G. and HANSSENS D.M., Time-Series Models InMarketing� 5HVHDUFK� 5HSRUW� '7(:�� .�8�/HXYHQ�� nr� 0026, 22 p.,2000.

Leeflang and Wittink (2000) identify three past stages in marketingmodel building and implementation, review the current status, andprovide some intriguing thoughts on how the model-building processmay evolve in response to ongoing and anticipated developments in themarketing environment. It is interesting to note that WLPH�VHULHVWHFKQLTXHV are not mentioned in their review of the past, receiveconsiderable attention in their assessment of the current situation

5HVHDUFK5HSRUWV


71

(mainly in the context of the insights these techniques can provide onmarketing’s long-run effectiveness), and are again absent in theirspeculations about the future. In this paper, we complement and extendon Leeflang and Wittink’s discussion in three ways. First, we discusswhy, in the past, time-series techniques received little attention frommarketing model builders and users. Second, we show how each of theidentified obstacles has recently been attenuated, and review moreextensively the recent contributions of time-series applications tomarketing science. Finally, we elaborate on some expected futuredevelopments in marketing research, and discuss opportunities andchallenges to applied time-series modelers.

GEYSKENS I., GIELENS K. and DEKIMPE M.G., Establishingthe Internet channel: Short-term pain but long-term gain?, 5HVHDUFK5HSRUW�'7(:��.�8�/HXYHQ��nr� 0043, 47 p., 2000.

The emergence of the Internet has pushed many established companiesto explore this radically new distribution channel. Like all marketdiscontinuities, the Internet creates opportunities as well as threats – itcan be performance-enhancing as readily as it can be performance-destroying. One industry where this certainly holds is the newspaperindustry, where several players have rushed to supplement theirtraditional channels with an Internet channel, in spite of a lingering fearof cannibalizing their existing business. Making use of event-studymethodology, we assess the net impact of setting up an additionalInternet channel on a firm’s stock market return, a measure of thechange in expected future cash flows. We find that, on average,Internet channel investments are positive net-present-value investments:the present value of the expected cash inflows is greater than the presentvalue of the anticipated cash outflows. We then identify firm,introduction-strategy, and marketplace characteristics that influence thedirection and magnitude of the stock-market reaction. Morespecifically, our results indicate that powerful firms with fewer directchannels achieve greater gains in financial performance than lesspowerful firms with a broader direct channel offering. In terms ofintroduction timing, early followers have a competitive advantage vis-à-vis both innovators and later followers. We also find that firms whichprovide additional advertising support to their Internet channelintroduction achieve greater financial gains. Finally, in terms ofmarketplace characteristics, firms operating in fast-growing Internetenvironments benefit more than players operating in less munificentmarkets.Keywords: Internet; Marketing channels; Event study; Performanceappraisal.

GIELENS K. and DEKIMPE M.G., Entry decisions in theinternational expansion process of retail chains: do they matter inthe long run?, 5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0013, 46p., 2000.

The retailing industry, in the United States and Europe alike, facesmaturing markets and stiffening domestic competition. In response,many of the industry's main players have shown a growing interest incross-border initiatives. The success of such foreign entries obviously


72

depends on the appropriateness of the firm’s post-entry decisions, butmay also depend on the strategic choices made at the time of entry, asthey shape the platform from which competitive advantages can begained. Little empirical evidence is available, however, on the relativeimpact of these time-of-entry choices, especially in the longer run.In this paper, we simultaneously consider five strategic entry decisions:order, size of entry, mode of entry, the level of format adaptation andthe extent of format diversification. We assess their relative impact onthe foreign operations’ long-run performance, while controlling for boththe parent firm’s resources and the host-market’s intrinsic attractiveness.Formally, the strategic choices and control variables are linked to theasymptotic performance level in a pooled Gompertz growth model, thatis calibrated on a unique data set covering the post-entry performance ofover 160 foreign entries made by Europe’s top 75 food retailers.The empirical findings suggest that several of the decisions made atentry continue to influence the foreign entry’s future performance, bothin terms of sales performance and in terms of efficiency. Especially thetiming of entry and the novelty of the retailing format to the host marketare found to be critical long-run success factors. The choice of retailformat could be dictated by demand considerations (adaptation to host-market conditions) or by supply considerations (expertise in the homemarket). Ideally, both will suggest the same format; if not, our findingsindicate a greater importance of the former, irrespective of theperformance dimension considered.

WARLOP L., RATNESHWAR S. and VAN OSSELAER S., Onthe Role of Trivial Differentiation in Learning Product Qualityfrom Experience�5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0031, 38p., 2000.

An innate aspect of most consumption experiences is that consumersare simultaneously exposed to intrinsic product quality attributes, suchas product taste, and also extrinsic cues, such as brand names andpackaging. Consumer welfare depends upon how well consumers areable to learn differences in intrinsic product quality, assuming suchdifferences actually exist. Prior research has often implied that trivialdifferentiation in H[WULQVLF cues hinders consumer learning of LQWULQVLFquality differences (e.g., on account of erroneous inferences or bymaking alternatives hard to compare). We offer here an alternativeviewpoint by examining this issue conceptually and empirically from aconsumer memory perspective. We investigate in a series of three tastetest studies whether, why, and how trivial differentiation in brandnames and packaging may in fact facilitate experiential learning ofintrinsic quality differences.

WARLOP L. and NOVOSELTSEV A., The Perceived fairness ofsubsidized proces��5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0016,30 p., 2000.

In four experiments we asked consumers to suggest a new fair price fora firm that has experienced an increase in production costs. For non-subsidized firms, subjects reason according to the principles ofdistributive justice, disconfirming the predictions based on the dualentitlement principle. When the firm is subsidized, the dual entitlement


73

principle is supported. Follow-up studies suggest that the dualentitlement effect for subsidized firms is limited to (1) situations inwhich respondents are impartial observers, rather than the firm’s owncustomers, (2) situations where the stakeholders are affected in theirlong term (tax-payer) interests, or (3) situations in which customers doidentify strongly with the objectives of the subsidized company.

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VERBOVEN F. and BOUCKAERT J., Mededinging en de E.M.U.:Prijsverschillen en Prijszetting in de Europese automarkt, inHEYLEN F., OOGHE H. and VANDER VENNET R. (eds.),E.M.U.: dé Uitdaging, Vereniging voor Economie vzw, 593p.,2000.

VERBOVEN F. and BOUCKAERT J., Price Differences and PriceSetting in the European Car Market, in OOGHE H., HEYLEN F.and VANDER VENNET R. (eds.), The Economic and BusinessConsequences of EMU: a Challenge for Governments, FinancialInstitutions and Firms, Kluwer Academic Publishers, 438p., 2000.

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DEKIMPE M.G., PARKER P.M. and SARVARY M., Multimarketand Global Diffusion, in New Product Diffusion Models withMAHAJAN V., MULLER E. and WIND Y. (editors), 49-73, 2000.

Diffusion research has been very popular in the marketing literature, butmost studies have focused on a single market (one country or onegeographic region). With the emergence of a global economy, cross-country or global diffusion has become a central problem for marketerslaunching products in foreign markets or on a global basis. In responseto increased interest, a few recent studies in marketing have examinedthe problem of cross-country of global diffusion. In this chapter, wefirst summarize the state of knowledge for this emerging area withindiffusion research. We identify findings that are generalizable acrossstudies as well as the biases in the current international diffusionliterature. In a next step, we discuss a number of (mostlymethodological) issues that raise a challenge for international diffusionresearchers, including the two-staged nature of the diffusion process,the importance of central decision makers in cross-country diffusion,sample matching requirements, the left-hand truncation bias, supplyrestrictions, and the appropriate level of geographic aggregation.

VERBOVEN F. and BOUCKAERT J., Mededinging en de E.M.U.:Prijsverschillen en Prijszetting in de Europese automarkt, inHEYLEN F., OOGHE H. and VANDER VENNET R. (eds.),E.M.U.: dé Uitdaging, Vereniging voor Economie vzw, 593p.,2000.

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VERBOVEN F. and BOUCKAERT J., Price Differences and PriceSetting in the European Car Market, in OOGHE H., HEYLEN F.and VANDER VENNET R. (eds.), The Economic and BusinessConsequences of EMU: a Challenge for Governments, FinancialInstitutions and Firms, Kluwer Academic Publishers, 438p., 2000.

WARLOP L., SMEESTERS D. and VANDEN ABEELE P., Onselling brotherhood like soap: influencing everyday disposaldecisions, in RATNESHWAR S., HUFFMAN C., and MICK D.(eds.), The Why of Consumption, New York: Routledge, 197-215,2000.

Sorting garbage during disposal is effortful for the individual and thehousehold, but beneficial to society in the long run. This makesrecycling a typical example of a social dilemma, and a prime target forsocial marketing interventions. Household disposal acts are relativelymindless routine behaviors embedded in daily housekeeping tasks of awell-managed household. Higher-order goals to support compliancewith recycling guidelines are readily available for reflection, but so arejustifications for defection. We argue that the current theoretical basisfor social marketing in social dilemmas is not well suited for this classof prosocial behaviors. Social marketing may benefit from strategiesthat make values and higher order goals accessible as a basis fordecision making without promoting further elaborative thought.


DEKIMPE M.G., member of the Editorial Board of 0DUNHWLQJ

6FLHQFH since 1998, 5HYLHZ�RI�0DUNHWLQJ�6cLHQFH since 2000, 7KH,QWHUQDWLRQDO�-RXUQDO�RI�5HVHDUFK�LQ�0DUNHWLQJ�since 1994; did adhoc reviewing for the -RXUQDO� RI� 0DUNHWLQJ� 5HVHDUFK�� acted asreviewer for the 3URFHHGLQJV� RI� WKH� �� &RQIHUHQFH� RI� WKH(XURSHDQ�0DUNHWLQJ�$FDGHP\.

VANDEN ABEELE P., member of the Editorial Board of the,QWHUQDWLRQDO�-RXUQDO�RI�5HVHDUFK�LQ�0DUNHWLQJ and of 5HFKHUFKHVHW�$SSOLFDWLRQV�HQ�0DUNHWLQJ.

VERBOVEN F., member of the Editorial Board of the (XURSHDQ(FRQRPLF�5HYLHZ since 1999, the -RXUQDO�RI�,QGXVWULDO�(FRQRPLFVsince 1999 and (FRQRPLVFK�HQ�6RFLDDO�7LMGVFKULIW since 1998.

WARLOP L., member of the Editorial Board of ,QWHUQDWLRQDO-RXUQDO�RI�5HVHDUFK�LQ�0DUNHWLQJ since 1999.


%2)� 2QGHU]RHNVSURMHFW, (University of Antwerp Fellowship),Structural Modeling of the European Automobile Industry, 1998-2001.


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75

Promotor: VERBOVEN F.

)�:�2�� 3URMHFW� *�� and� 27�� Components andStability of Brand Loyalty, a study on the determinants of brandloyalty, January 1996-September 2001.Promotors: DEKIMPE M.G. and STEENKAMP J.B.

)�:�2��9ODDQGHUHQ,�3URMHFW�*�� (Flemish National ScienceFoundation), Evaluative Learning and Brand Equity, January 1999– December 2001. (with BAEYENS F., K.U.Leuven, Departmentof Psychology).Promotor: WARLOP L.

)�:�2��2QGHU]RHNVSURMHFW, (Flemish Research Fund)Deregulationin telecommunications, with applications to the MobileTelecommunications Industry, 1998-2002:Promotor: VERBOVEN F.

)�:�2�� .UHGLHW� DDQ� 1DYRUVHUV� (Flemish Research Fund),Empirical Analysis of the Automobile and Semiconductorindustries, 1997-2000.Promotor: VERBOVEN F.

267&� 3URMHFW�� Between green words and green deeds: therelationship between environmental concern and domestic sourceseparation behavior, July 1997 - June 2001.Promotor: WARLOP L.


DEKIMPE M.G. and HANSSENS D.M., 2000 Paul E. GreenAward of the -RXUQDO� RI� 0DUNHWLQJ� 5HVHDUFK for the paper‘Sustained Spending and Persistent Response: A New Look atLong-term Marketing Profitability’.

DEKIMPE M.G., PARKER P.M. and SARVARY M., 2000Elsevier Best Paper Price of Technological Forecasting and SocialChange for the paper ‘Globalization: Modeling TechnologyAdoption Timing Across Countries’.

WARLOP L., winner of the 1999 Best Paper Award of the,QWHUQDWLRQDO� -RXUQDO� RI� 5HVHDUFK� LQ� 0DUNHWLQJ, awarded May2000.


DEKIMPE M.G. spent the summer at the University of California,Los Angeles (UCLA) as a research fellow.

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76


DEKIMPE M.G. organized the doctoral colloquium of theEuropean Marketing Academy (EMAC) in Rotterdam, May 2000.

VERBOVEN F., co-organizer of the 2st C.E.P.R. conference inIndustrial Organisation in Lissabon, 2000.

VERBOVEN F., member of program committee of the EuropeanAssociation for Research in Industrial Economics in Lausanne,2000.


WARLOP L., Colloquium Faculty at the EMAC DOCTORALCOLLOQUIUM, Rotherdam, May 2000.


LEUNIS J., PIUC – Overall coordinator of ‘SLU-BSU-FlemishUniversities – Institutional University Programme (Philippines)’ –1999-2003

VANDEN ABEELE P., President of the French doctoral selectioncommittee for students in Management Studies (CEFAG),Fondation Nationale de l’Enseignement en Gestion, Paris;Chairman of the Commission for University Research Assessmentin Economics and Business Economics, VSNU, The Netherlands;Academic Trustee of The marketing Science Institute, Boston, MA.

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352'8&7,21�$1'�23(5$7,216�0$1$*(0(17

)DFXOW\�0HPEHUV Erik Demeulemeester, Willy Herroelen and Marc Lambrecht.

$VVLVWDQWV Jan Adem, Wouter Caers, Jeroen Dejonckheere, Roel Leus, StijnPaesmans, Mario Vanhoucke and Frank Vastmans.

7KH� FXUUHQW� UHVHDUFK� IRFXV� RI� WKH� 2SHUDWLRQV� 0DQDJHPHQW� *URXS� LV� LQ� WKUHH� DUHDV�� D�� WKHGHVLJQ� RI� SURGXFWLRQ� DQG� LQYHQWRU\� FRQWURO� V\VWHPV� �(QWHUSULVH� 5HVRXUFH� 3ODQQLQJ� �(53��ERWWOHQHFN� PDQDJHPHQW� �72&�� -XVW�,Q�7LPH� �-,7�� 6XSSO\� FKDLQ� PDQDJHPHQW�� LQFOXGLQJ� ORWVL]LQJ�GHFLVLRQV�DQG� OHDG�WLPH�PDQDJHPHQW�� E��RSHUDWLRQDO�SODQQLQJ� LQFOXGLQJ�VFKHGXOLQJ�DQGVHTXHQFLQJ�� ILQLWH� FDSDFLW\� VFKHGXOHUV� DQG� UHVRXUFH�FRQVWUDLQHG� SURMHFW� VFKHGXOLQJ�� DQG� �F�TXDOLW\� PDQDJHPHQW� DQG� FRQWURO� �H�J�� PXOWLFKDUDFWHULVWLF� LQVSHFWLRQ� SODQV�� 0RVW� UHVHDUFKHIIRUWV�UHVXOW�LQ�VRIWZDUH�SDFNDJHV�ZKLFK�FDQ�EH�XVHG�IRU�WHDFKLQJ�SXUSRVHV�DQG�RU�LQ�EXVLQHVVSUDFWLFH�

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DEMEULEMEESTER E.L., DE REYCK B. and HERROELENW.S., The discrete time/resource trade-off problem in projectnetworks: a branch-and-bound approach, ,,(�7UDQVDFWLRQV, 32(11),1059-1069, 2000.

In many solution methods for resource-constrained project scheduling,it is assumed that both the duration of each activity and its resourcerequirements are known and fixed. In real-life projects, however, itoften occurs that only one renewable bottleneck resource is availableand that the activities have a total work content which indicates howmuch work (expressed in man-periods) has to be performed. Theobjective then is to schedule each activity in one of its possibleexecution modes, subject to the precedence and resource constraints, inorder to minimize the project makespan. We present a branch-and-bound procedure and report computational results, obtained using a fullfactorial experiment on a randomly generated problem set.

LAMBRECHT M., DE SCHUYTER N. and CREMMERY R.,Spicer Off-Highway Products Division – Brugge Improves itsLead-Time and Scheduling Performance, ,QWHUIDFHV 30, (1), p. 83–95, 2000.

Spicer Off-Highway Products Division (a division of DanaCorporation) asked us to develop OR tools to improve the due dateperformance and to shorten the manufacturing lead time of itspowershift transmission plant in Brugge, Belgium. We modeled themanufacturing system as a queueing model and used the model toanalyze and evaluate improvement schemes (layout changes, product-mix decisions, lot-sizing decisions, and lead-time estimations). Next,

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we developed a finite scheduler to improve the detailed scheduling ofthe shop. Our modeling effort contributed to the successfulcombination of analysis, planning, and detailed scheduling. The plantincreased productivity by 27.3 percentage points, decreasedmanufacturing lead times by a factor of two to three, increased itsworkforce by 41 percent, and decreased its operating costs. Thedivision is now profitable.



DEJONCKHEERE J., DISNEY S.M., LAMBRECHT M., andTOWILL D.R., Matching your orders to the Needs and Economiesof your Supply Chain, Proceeding 7th International Conference ofEUROMA, Crossing Borders and boundaries: The Changing Roleof Operations, Editors VAN DIERDONCK R. and VEREECKEA., Gent, p. 174-181, 4-7 June 2000.

Two extreme ordering systems are represented by level scheduling andorder-up-to policies. They both incur significant costs: in levelscheduling they are mainly due to higher inventory holding costs and inorder-up-to scenarios, additional costs result from the need to rapidlyramp production both up and down. Moreover, order-up-to policies areknown to create variance amplification or Bullwhip Effect. In thispaper, we present a generic replenishment rule against the backgroundof total cost minimisation (inventory holding and production switchingcosts), that succeeds in creating smooth production order patternsaccording to a pre-specified level of responsiveness.

VANDAELE N., LAMBRECHT M., CREMMERY R. and DESCHUYTER N., Quick Response Manufacturing at Spicer Off-Highway, Brugge, Belgium, Quick Response Manufacturing 2000Conference Proceedings, Society of Manufacturing Engineers,Madison, Wisconsin ; Editor: SURI R., p.165-220, 7-9 June 2000.

Spicer Off-Highway Products Division (a division of DanaCorporation) offers their customers a full range of powershifttransmissions and torque convertors. The structure of themanufacturing process is typically a hybrid of make-to-stock andmake/assemble-to-order. The main problem is that the production leadtime for the make parts is substantial due to the large variety ofcomponents and the complexity of the production process.Consequently, a large number of manufacturing operations areperformed in a highly uncertain environment inevitably resulting inmismatches at the time of the actual customer commitment.In this paper we report on our modeling effort to improve themanagement of such structures. We modeled the manufacturing systemas a queueing model and used the model to analyze and evaluateimprovement schemes (layout changes, product-mix decisions, lot-sizing decisions and lead-time estimations). Our approach touchessome of the key Quick Response Manufacturing principles. Next, wedeveloped a (deterministic) finite scheduler to improve the detailedscheduling of the shop. Our methodology successfully links stochastic

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and deterministic aspects of the planning process and it combinesanalysis, planning and detailed scheduling.

VANHOUCKE M., DEMEULEMEESTER E.L. andHERROELEN W.S., A new random network generator for activity-on-the-node networks, Proceedings of the Seventh InternationalWorkshop on Project Management and Scheduling, Osnabrück,Germany, 17-19 April 2000.

We describe a new random network generator for activity-on-the-node(AoN) networks for different classes of project scheduling problems.The objective is to construct random networks with prespecifiedparameters in order to control the relation between the hardness of aproblem instance and the logic of the underlying network. Bothparameters which are related to the network topology and resource-related parameters are implemented. The new network generator meetsthe shortcomings of former network generators since the generatoremploys a wide range of different parameters which have alreadydemonstrated in former studies to have a relation with the hardness ofdifferent project scheduling problems. Some of them have beenimplemented in former network generators while others have not. Acomputer demonstration of the new network generator will be given.


LEUS R., HERROELEN W.S. and ADEM J., Reactive projectscheduling: some algorithms and a general framework, paperpresented at the INFORMS Fall Meeting, San Antonio, 5-8November 2000.

Some considerations about the value of sequentially using deterministicschedules in the presence of uncertainty are presented. The reactiveproject scheduling problem is formally described. Some alternatives forfull rescheduling and their efficiency are discussed. Computationalexperiments have been conducted and will be used to illustrate theresults.

HERROELEN W.S. and LEUS R., On the merits and pitfalls ofcritical chain scheduling, Paper presented at the INFORMS FallMeeting, San Antonio, 5-8 November 2000.

Critical chain scheduling and buffer management – the directapplication of Goldratt’s Theory of Constraints to project management– has recently emerged as a popular approach to project management.We critically review its project scheduling fundamentals and test itsscheduling methodology and assumptions through a full factorialcomputational experiment.

VANHOUCKE M. and DEMEULEMEESTER E.L., Maximizingthe net present value of a project: A comparison of differentsolution procedures, paper presented at the INFORMS FallMeeting, San Antonio, 5-8 November 2000.

Maximizing the net present value of an unconstrained project hasbecome a well-known objective in project scheduling literature. We


80

compare different solution procedures for this problem where bothminimal and maximal time lags are considered. These procedures havebeen coded in C++ and have been validated on benchmark problemsets.

VANHOUCKE M., DEMEULEMEESTER E.L. andHERROELEN W.S., A recursive procedure to represent an activitynetwork in a unique fashion, paper presented at the INFORMSMeeting, Salt Lake City, 7-10 May 2000.

We describe a recursive procedure to represent activity networks in aunique fashion. This procedure implicitly enumerates all possiblerepresentations of a network with a given topological structure. Weassign a weight to each node of the network in order to rank these nodesaccording to specific criteria.


DEMEULEMEESTER E.L., VANHOUCKE M. andHERROELEN W.S., A New Random Network Generator ForActivity-On-The-Node Networks�� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0032, 23 p., 2000.

In this paper we describe a new random network generator 5DQ*HQ forgenerating activity-on-the-node (AoN) networks and accompanyingdata for different classes of project scheduling problems. The objectiveis to construct random networks which satisfy preset values of theparameters used to control the hardness of a problem instance. Bothparameters which are related to the network topology and resource-related parameters are implemented. The new network generator meetsthe shortcomings of former network generators since it employs a widerange of different parameters which have been shown to serve aspossible predictors of the hardness of different project schedulingproblems. Some of them have been implemented in former networkgenerators while others have not. Copies of the computer program canbe obtained from the authors.Keywords: Networks/graphs; Problem generator; Complexity index;Resource constraints

HERROELEN W.S. and LEUS R., On the Merits and Pitfalls ofCritical Chain Scheduling�� 5HVHDUFK� 5HSRUW� '7(:�� .�8�/HXYHQ�

nr� 0023, 29 p., 2000.

The direct application of the 7KHRU\� RI� &RQVWUDLQWV (72&) to projectmanagement, known as &ULWLFDO� &KDLQ� 6FKHGXOLQJ� DQG� %XIIHU

0DQDJHPHQW (&&�%0), has recently emerged as one of the mostpopular approaches to project management. It is the objective of thispaper to highlight the merits and pitfalls of the approach. We offer aglobal overview of the fundamentals of &&�%0. The strengths andweaknesses of the &&�%0 approach are put into perspective, based on acritical analysis of the literature as well as our own experimentationwith commercial &&�%0 software. The fundamental�&&/%0 principlesand assumptions are tested in a full factorial experiment performed on aset of benchmark instances. Contradictory to &&�%0 belief, regularly

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updating the baseline schedule and the critical chain at each decisionpoint provides the best intermediate estimates of the final projectduration and yields the smallest final project duration. Using cleverproject scheduling and rescheduling mechanisms such as branch-and-bound, has a beneficiary effect on the final makespan, the percentagedeviation from the optimal final makespan obtainable if informationwould be perfect, and the work-in-process. Using the 50% rule forbuffer sizing may lead to a serious overestimation of the project buffersize. The 2σ-buffer size assumption does not hold. The beneficiaryeffect of computing buffer sizes using the root-square-error methodincreases with problem size. Keeping the critical chain activities inseries is harmful to the final project makespan. The work-in-processimpact of the scheduling mechanism used for scheduling the gatingtasks is negligible. Recomputing the baseline schedule at each decisionpoint is found to have a strong beneficiary impact on the final projectduration.Keywords: Project management; Project planning; Scheduling.

VANHOUCKE M., DEMEULEMEESTER E.L. andHERROELEN W.S., A Validation of Procedures for Maximizingthe Net Present Value of a Project� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0030, 16 p., 2000.

The idea of maximizing the net present value of the cash flows of aproject has gained increasing attention over the past decades. Severalsolution procedures have been presented in the literature to cope withthese financial aspects of project management. In this paper wecompare three solution procedures for the unconstrained projectscheduling problem with discounted cash flows. Each activity of thisunconstrained project scheduling problem has a known deterministiccash flow which can be negative, zero or positive. Progress paymentsand cash outflows occur at the completion of activities. The objectiveis to schedule the activities subject to the precedence constraints and afixed deadline in order to maximize the net present value.We compare two recursive search algorithms and a first-order steepestascent approach for project scheduling problems where both minimaland maximal time-lags between the activities are considered. Allprocedures exploit the idea that positive cash flows should be scheduledas early as possible while negative cash flows should be scheduled aslate as possible within the precedence constraints. The procedures havebeen coded in Visual C++, version 6.0 under Windows 2000 and havebeen validated on well-known problem sets.

VANHOUCKE M., DEMEULEMEESTER E.L. andHERROELEN W.S., Maximizing the Net Present Value of aProject with Progress Payments� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0028, 28 p., 2000.

In this paper we study the unconstrained project scheduling problemwith discounted cash-flows where the net cash-flows are assumed to bedependent on the completion times of the corresponding activities.Cash outflows occurs when an activity is completed whereas cashinflows are incurred as progress payments at the end of some timeperiod. The objective is to schedule the activities in order to maximize


82

the net present value (QSY) of the project subject to the precedenceconstraints and a fixed deadline. This paper extends the ever growingamount of research concerning the financial aspects in projectscheduling in which cash flows are time-dependent.We introduce a branch-and-bound algorithm which computes upperbounds by making piecewise linear overestimations. In doing so, thealgorithm transforms the problem into a weighted earliness-tardinessproject scheduling problem. The algorithm is extended with two newrules in order to reduce the size of the branch-and-bound tree.Computational results are reported since the procedure has been codedin Visual C++ version 4.0 under Windows NT and has been validatedon a randomly generated problem set.Keywords: Project scheduling; Net present value; Progress payments;Optimal search

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HERROELEN W.S., Operationele productieplanning – Methodenen technieken van detailplanning tegen eindige capaciteit, Acco,Leuven.


DEMEULEMEESTER E.L., De kwaliteitsgoeroes: CROSBY P.B.,Hoofdstuk 10.2.6 in 3UDNWLMNJLGV� .ZDOLWHLW� HQ� &HUWLILFDWLH

(hoofdredacteur VAN NULAND Y.), aflevering 35, 1-13.

DEMEULEMEESTER E.L., De kwaliteitsgoeroes: JURAN J.,Hoofdstuk 10.2.7 in 3UDNWLMNJLGV� .ZDOLWHLW� HQ� &HUWLILFDWLH

(hoofdredacteur VAN NULAND Y.), aflevering 37, 1-10.


DEMEULEMEESTER E.L., Associate Editor of the -RXUQDO� RI6FKHGXOLQJ since 1998.

HERROELEN W.S., Associate Editor of 0DQDJHPHQW� 6FLHQFH

since January 1998; member of the Editorial Board of 3URGXFWLRQDQG� 2SHUDWLRQV� 0DQDJHPHQW – An International Journal of theProduction and Operations Management Society since the start;member of the Editorial Board of )RXQGDWLRQV� RI� &RPSXWHU� DQG&RQWURO�(QJLQHHULQJ�since 1998.

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LAMBRECHT M., Ontwikkeling van een software pakket i-clipsin samenwerking met IBM. Dit pakket maakt het mogelijkdoorlooptijdschattingen te maken. De methodologie is gebaseerdop wachtlijnentheorie. Vele jaren onderzoekswerk zijn eraanvoorafgegaan.

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)�:�2�� RQGHU]RHNVSURMHFW�*��, Studie van de invloed vanfinanciële aspecten op de planning van projecten, januari 2000 –december 2003.Promotoren: DEMEULEMEESTER E.L. en HERROELEN W.S.,Medewerker: VANHOUCKE M.


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University of Stellenbosch, South Africa, publicly defended on 31January 2000; Member of the doctoral committe:DEMEULEMEESTER E.L.


DEMEULEMEESTER E.L., Verantwoordelijke voor de doctoraleworkshops voor de richtingen Operations Management enKwantitatieve Methoden.


HERROELEN W.S., voorzitter van de wetenschappelijkecommissie G2 Fonds voor Wetenschappelijk Onderzoek –Vlaanderen voor (FRQRPLH�HQ�%HGULMIVNXQGH.

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)DFXOW\�0HPEHUV Maddy Janssens, Robrecht Overlaet and Luc Sels.

$VVLVWDQWV Jan Bouwen, Anneleen Forrier, Ann Gevers, Johan Maes and IngeVan den Brande.

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DEJONCKHEERE J. and SELS L., Variaties op de vierdagenweek.Een overzicht van de organisatorische implicaties, 7LMGVFKULIW�YRRU$UEHLGVYUDDJVWXNNHQ, 16 (1): 18-34, 2000.

Dit artikel probeert klaarheid te brengen in de organisatorischeimplicaties van één in België sterk aangemoedigde vorm vanarbeidsduurverkorting, namelijk de overgang naar de vierdagenweek.Centraal staan de ontwikkeling van een typologie van organisatorischeimplicaties en de constructie van een conceptueel kader dat als leidraadkan fungeren bij de analyse van de organisatorische implicaties vandiverse vormen van arbeidsduurverkorting. Dit conceptueel kaderwordt toegepast op de verschillende varianten van de vierdagenweek.Aangetoond wordt dat de organisatorische implicaties sterk variërenmet de concrete vorm die een vierdagenweek aanneemt, en meerbepaald met de temporele invulling en het toepassingsgebied van devoorgestelde formule.

JANSSENS M. and SEYNAEVE K., Collaborating to desegregatea ‘black’ school: How does a low power stakeholder gain voice?-RXUQDO�RI�$SSOLHG�%HKDYLRUDO�6FLHQFH, 36, 1, 70-90.

This longitudinal action research examines the process of desegregationat a segregated school, relying on insights from stakeholder theory,collaboration theory, and the theory of social identity and intergrouprelations. First, the school’s segregated mode was analyzed throughunderstanding its identity as it was constituted in its stakeholder

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network. To understand the school’s context, conditions to collaboratewith other schools in the same community were assessed. Given theschool’s low power in the education system, the school tried to breakthrough its segregated mode by developing an educational curriculum inwhich heterogeneity itself had a function and by developingcollaborative relationships with groups outside the education systemthat were interested in desegregation.

SELS L., OVERLAET B., WELKENHUYSEN-GYBELS J. andGEVERS A., Wie verdient meer (en waarom)? Het relatieve belangvan individuele, functie- en organisatiekenmerken bij de verklaringvan loonverschillen, 7LMGVFKULIW�YRRU�$UEHLGVYUDDJVWXNNHQ, 16 nr. 4,p. 367-384, 2000.

In deze bijdrage wordt onderzocht of de klassieke human capitalfactoren een significante invloed behouden op loonverschillen wanneerjobgerelateerde kenmerken (hiërarchisch niveau, functioneel domein,complexiteit en verantwoordelijkheidsniveau, beheerd budget en aantalondergeschikten) onder controle worden gehouden. Daarnaast wordtonderzocht of organisatiekenmerken zoals de omvang en de sectorwaarin het bedrijf actief is een significante invloed op loonverschillenuitoefenen wanneer de klassieke human capital factoren enfunctiegerelateerde loondeterminanten onder controle wordengehouden. Op basis van de analyse komen we tot de vaststelling dat devijf belangrijkste determinanten, in die volgorde, het aantal jarenwerkervaring, het opleidingsniveau, het hiërarchisch niveau, de sectoren de nationaliteit van het moederbedrijf zijn. Opmerkelijk is verderdat meer dan 50% van de totale verklaarde variantie opgeëist wordtdoor de drie kenmerken die in klassieke human capital benaderingenvan loonverschillen veel aandacht krijgen: opleidingsniveau,werkervaring en geslacht.


VAN VALCKENBORGH K., DOUTERLUNGNE M. and SELSL., Modularisering, meer dan een structurele maatregel. 7LMGVFKULIWYRRU�2QGHUZLMVUHFKW�HQ�2QGHUZLMVEHOHLG, Nr. 1: 43-54, 2000.

In dit artikel worden op basis van een internationale vergelijking devoornaamste motieven voor de modularisering van onderwijs- enopleidingsprogramma’s onderzocht. Aansluitend hierbij wordtnagegaan in welke mate de beoogde effecten daadwerkelijk gerealiseerdworden in de modulaire onderwijspraktijk (hoger rendement vanberoepsgericht onderwijs, flexibilisering van de aansluiting tussenonderwijs en arbeidsmarkt, relevant en herkenbaar onderwijs,tussentijdse succesbeleving, differentiatie en maatwerk).

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DEJONCKHEERE J., DE WITTE H., SELS L. and VANHOOTEGEM G., Contractual flexibility and the quality of work.Review of the literature on the individual consequences oftemporary work, paper presented at the Labour Market Workshop,Just in time employed – organizational, psychological and medicalperspectives, Dublin, 22-23 May 2000.

JANSSENS M.,Collaboration among competitive schools: The(im)possibility of desegregation, paper presented at SeventhInternational Conference on Multi-Organizational Partnerships andCooperative Strategy, Leuven, Belgium, 6-8 July 2000.

This study addresses the question of how different schools collaboratein order to achieve desegregation of minority children in theircommunity. However, since the Flemish educational system isorganized around the two basic principles of competition of schools andfreedom of choice by parents, the school representatives are incompetition with each other for attracting pupils and receiving subsidiesby the government. The results of 125 interviews spread over 5different communities indicated similar findings with respect to thedefensive reactions by the so-called white elite schools, the framing ofthe problem domain; the lack of interests by the Flemish parents for thistopic, the disagreements by the minority community on the suggestedsolution, and the experience of uncontrollable problems by schoolrepresentatives. At the same time, five very different types ofcollaboration processes were identified.


DEJONCKHEERE J., DE WITTE H., SELS L. and VANHOOTEGEM G., De kwaliteit van flexibele arbeid: literatuurstudieover de kwaliteit en het stresserend karakter van flexibiliteit, papervoor de Sociaal-Wetenschappelijke Studiedagen, georganiseerddoor SISWO/Instituut voor Maatschappijwetenschappen,Nederlandse Sociologische Vereniging en Vereniging voorSociologie en Nederlandse Vereniging voor Maatschappij- enCultuurwetenschappen Amsterdam, Vossius Gymnasium, 2 en 3mei 2000, Amsterdam, 2000.

GILLIOT D., OVERLAET B. and VERDIN P., Strategic Processesin Multibusiness Conglomerates and Focused MBCs: Lessons forUniversities, paper presented at the 22nd Annual EAIR Forum‘Institutional Responses to Mass Higher Education: The Challengeof Social Change and Technological Development’, Berlin,Germany, 6-9 September 2000.

Universities today have many challenges to face. When developingstrategic responses, universities can possibly learn from business

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organisations. Since comprehensive universities possess manycharacteristics of a multibusiness corporation (MBC), we developed aframework based on the questions MBCs need to ask and the variousstrategic decisions to take when developing and managing theirportfolio of businesses. We looked at how multibusiness conglomeratesand focused MBCs deal with these questions and translated this to auniversity context. Some strategy problems at universities can beunderstood better and solved by considering the difference betweenstrategic management at multibusiness conglomerates and focusedMBCs.

JANSSENS M. and BRETT J.M., Competences and Practices toStimulate Meaningful Participation in Transnational Teams. Paperpresented at Showcase Symposium How can the InnovativePotential of Cultural Differences be Realized? Perspectives acrossCultures and across Management Contexts, The Academy ofManagement Meeting, Toronto, August 2000.

As companies go global, transnational teams or teams whose memberscome from diverse subsidiaries having different cultural backgroundsare proliferating. We assume that transnational teams’ effectiveness isclosely related to the degree to which their multi-national members cansurface, manage, and learn from their differences. They need to usetheir heterogeneity in order to manage the complexities of their tasks.However, the very heterogeneity that makes these teams an appropriateorganizational form for dealing with complex tasks also makes it lesslikely that they will be able to complete the task efficiently andeffectively. Therefore, a major challenge, and the theme of this article,is how to manage transnational teams in a way that maintains theheterogeneity of perspectives and input that is crucial for creativity,learning, and implementation, but that also allows the group to reachhigh quality decisions.

VAN DEN BRANDE I., SELS L., JANSSENS M. andOVERLAET B., Psychological contracts in Belgium. Paperpresented at the Labour Market Workshop µ-XVW�LQ�WLPH�HPSOR\HG�±RUJDQL]DWLRQDO�� SV\FKRORJLFDO� DQG� PHGLFDO� SHUVSHFWLYHV’, Dublin,22-23 May 2000.



FORRIER A. and SELS L., Tijdelijke arbeidrelaties en opleiding,gepresenteerd op Seminar Flexibiliseringsstrategieën, Amsterdam,10 maart 2000.


88

VAN HOOTEGEM G., SELS L., WIELERS R. and VAN DERMEER P., 2QWVODJUHFKW��WLMGHOLMNH�DUEHLG�HQ�DUEHLGVSDUWLFLSDWLH� LQ1HGHUODQG� HQ� %HOJLs, paper voor het Arbeidsmarktcongres ‘Detransitionele arbeidsmarkt, Contouren voor een actiefArbeidsmarktbeleid’, georganiseerd door SISWO, Instituut voorMaatschappijwetenschappen. Brussel, Vlaams EuropeesConferentiecentrum, 2 maart 2000.


FORRIER A., SELS L. en BOLLENS J., Flexibiliteit, Turnover enOpleiding�� 5HVHDUFK� 5HSRUW�'7(:��.�8�/HXYHQ�� nr� 0018, 35 p.,2000.

Critici waarschuwen ervoor dat een grootschalig gebruik vancontractuele flexibiliteit de bereidheid van bedrijven om te investeren inmenselijk kapitaal zou verlagen. Naast een toenemend gebruik vancontractuele flexibiliteit zijn er ook andere processen, zoals een hoogvrijwillig verloop of hire-fire praktijken, die kunnen leiden tot eenverhoogde in- en uitstroom van personeel. Deze praktijken korteneveneens de tijdshorizon van de arbeidsrelatie in en kunnen deinvesteringsbereidheid aantasten. In deze bijdrage staat daarom derelatie tussen het niveau van opleidingsinvesteringen van bedrijvenenerzijds en de verloop- en vacatureratio anderzijds centraal. In tweedeinstantie wordt ingezoomd op de bijdrage van contractueleflexibilisering en de geslotenheid van de interne arbeidsmarkt tot deverklaring van verschillen in opleidingsinvesteringen van bedrijven.

JANSSENS M., A Culturally Synergistic Approach to InternationalHuman Resource Management: Implementing an IntegratedApproach�� 5HVHDUFK� 5HSRUW�'7(:�� .�8�/HXYHQ�� nr� 0046, 26 p.,2000.

An integrated approach to IHRM tries to create a HRM system withsubstantial global integration combined with local differentiation. Howto successfully implement such an integrated IHRM approach is thefocus of this paper. The literature indicates three issues that need to beaddressed: finding the balance between global integration and localresponsiveness, understanding the cultural embeddedness of HRMpractices and assessing the underlying power dynamics. Our suggestionis a culturally synergistic approach to IHRM. This approach is beingpresented by identifying the crucial steps in the decision makingprocess and discussing guidelines on when and how to intervene.

SELS L. and DEJONCKHEERE J., The four-day working week.Unknown, unloved; research into the organisational implications ofworking time reduction,�5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr�0010, 31 p., 2000.

This contribution aims to bring clarity into the ‘organisationalimplications’ of one specific form of working time reduction, namelythe four-day working week. We start by defining the concept of thefour-day working week. In the second part, we look at ways Belgian

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89

authorities are trying to encourage the four-day working week, met bylittle enthusiasm from the business world. This reluctance stems fromignorance about the effects on performance and organisation. For thisreason, we have constructed a typology of organisational implicationsin the third part, as well as a conceptual framework that can act as aguiding model for the analysis of organisational implications. With thehelp of this conceptual framework, we demonstrate in part four thatthese implications vary strongly with the actual format of the four-dayworking week. We emphasise that the time frame and the applicationfield of the redistribution formula are the two factors that will determinethe nature and volume of implications.

SELS L., FORRIER A., MAES J. en BOLLENS J., Meer is nietaltijd beter; De relatie tussen kwaliteit en kwantiteit vanOpleidingsinspanningen� 5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ�� nr�0022, 25 p., 2000.

In België probeert de overheid al enige tijd de opleidingsinspanning vanbedrijven te stimuleren. De opleidingsinspanning wordt daarbijsteevast in financiële termen uitgedrukt (opleidingsinvestering als %van de loonkost). Het investeringsniveau is echter maar een goedemaatstaf voor de opleidingsinspanning en de stimulering van ditinvesteringsniveau is slechts een mogelijke taak van de overheid, alsook aangetoond kan worden dat er een significante samenhang bestaattussen de omvang van de financiële investering in opleiding enerzijdsen de kwaliteit van opleidingstrajecten anderzijds. In deze bijdragewordt aangetoond dat (1) er naast een kwantitatieve onderinvestering inopleiding ook sprake is van een soort 'kwalitatieve' onderinvestering endat (2) de relatie tussen het niveau van investering in opleiding en dekwaliteit van opleidingstrajecten zwak is.

SELS L., OVERLAET B., WELKENHUYSEN-GYBELS J. andGEVERS A., The relative importance of individual, job-related andorganisational characteristics in explaining differences in earnings5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0038, 26 p., 2000.

This paper focuses on a number of key research questions: (1) What isthe relative importance of individual, job-related and organizationalcharacteristics in explaining differences in earnings? (2) Do jobcharacteristics such as hierarchical level and functional domain exercisea significant influence on pay differentials if we control for thetraditional human capital factors? (3) Do organizational characteristicssuch as size and the sector in which the company is active exercise asignificant influence on pay differentials if we control for the traditionalhuman capital factors and job-related pay determinants? In order toassess the relative importance of these pay determinants, use is made oflinear regression and analysis of variance. The analysis draws on datafrom the Salary Survey, which generated pay details for a total of morethan 15,000 Belgian white-collar workers. Based on the analysis, wecome to the conclusion that the five main determinants, in order ofimportance, are number of years' work experience; level of education;hierarchical level; sector of employment; and the nationality of theparent company. A further striking feature is that more than 50% of thetotal explained variance can be attributed to the three features which


90

receive a great deal of attention in traditional human capital approachesto pay differentials: level of education, work experience and gender.

9,,� %RRNV

SELS L., BOLLENS J. and BUYENS D., 7ZLQWLJ� OHVVHQ� RYHUEHGULMIVRSOHLGLQJVEHOHLG� LQ� 9ODDQGHUHQ; Leuven/Brussel: HIVA,CTEO, Kabinet van de Minister van Tewerkstelling en Toerisme,2000.


SELS L., FORRIER A., BOLLENS J. and MAES J., Het cyclischkarakter van opleidingstrajecten, in +5� -DDUERHN� ��

3HUVRQHHOVEHOHLG� LQ� %HOJLs, Dendermonde: Nieuwe Media Groep,p. 202-210, 2000.

SELS L., JANSSENS M., VAN DEN BRANDE I. andOVERLAET B., Belgium: A culture of compromise, inROUSSEAU D. and SCHALK R. (Eds.), ,QWHUQDWLRQDO

3V\FKRORJLFDO�&RQWUDFWV, Thousand Oaks: Sage, p. 47-66, 2000.

SELS L. and VAN HOOTEGEM G., Kommt es auf die temporäreArbeitslosigkeit an? Ein Vergleich der Flexibilisierung derArbeitswelt in Belgien und Holland, in H.G. Zillian and J. Flecker(Hg.), 6R]LDOH� 6LFKHUKHLW� XQG� 6WUXNWXUZDQGHO� GHU�$UEHLWVORVLJNHLW.München: Rainer Hampp Verlag, p. 69-102, 2000.


JANSSENS M. member of Editorial Board -RXUQDO� RI

2UJDQL]DWLRQ� %HKDYLRU, since 1999 and of the -RXUQDO� RI� :RUOG

%XVLQHVV, since 1999.

SELS L., lid van de Redactieraad van het 7LMGVFKULIW� YRRU

6RFLRORJLH� sinds januari 1994 en lid van de Kernredactie van het7LMGVFKULIW�YRRU�$UEHLGVYUDDJVWXNNHQ.


)RQGV�YRRU�9DNRSOHLGLQJ� LQ�GH�%RXZQLMYHUKHLG� Onderzoek naarde determinanten van in- en uitstroom in de bouwsector, maart2000 - juni 2001.Promotor: SELS L.

)�:�2�� De invloed van de institutionele context op hetpsychologisch contract bij de werknemer. Een survey onderzoekbij Belgische arbeiders, bedienden, kaderleden en ambtenaren,januari 1999 - december 2001.

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91

Promotoren: JANSSENS M., SELS L., OVERLAET B. en VANDEN BRANDE I.

,QWHUXQLYHUVLW\� 3ROHV� 2I� $WWUDFWLRQ� 3URJUDPPH� 3�� TheStrategic Analysis of Organizations: Microeconomic andManagement Perspectives, with an Application to Universities,January 1997 – December 2001.Promotor: DE BONDT R.Co-Promotoren: OVERLAET B. en VERDIN P.

0LQLVWHULH� YDQ� GH� 9ODDPVH� *HPHHQVFKDS, AfdelingBeleidsgerichte Coördinatie, 2%3:2�SURJUDPPD; Waardering enbeloning van leerkrachten secundair onderwijs, december 1999 -november 2001.Promotoren: HENDERICKX E., JANVIER R. en SELS L.

9DFDWXUH�� Tweejaarlijks onderzoek ‘lonen in Vlaanderen’.Promotoren: OVERLAET B. en SELS L.

9,21$� $UEHLGVPDUNWRQGHU]RHNVSURJUDPPD�� 0LQLVWHULH� YDQ� GH

9ODDPVH�*HPHHQVFKDS, De impact van de institutionele context opde flexibiliteitspolitiek van industriële en dienstverlenendebedrijven en de gevolgen voor de kwaliteit van de organisatie en dekwaliteit van de arbeid, december 1998 - november 2000.Promotor: L. SELS.


9ODDPVH� *HPHHQVFKDS, Expertopdracht ‘Organisatieconcepten,kwaliteit van de arbeid en de arbeidsmarktimplicaties’, februari2000 - juni 2000.Promotor: SELS L.

9,21$� $UEHLGVPDUNWRQGHU]RHNVSURJUDPPD,� 0LQLVWHULH� YDQ� GH

9ODDPVH� *HPHHQVFKDS, Het opleidingsbeleid in Vlaamsebedrijven: determinerende factoren en knelpunten, november 1998- april 2000.Promotoren: BUYENS D., BOLLENS J. and SELS L.

9,21$� $UEHLGVPDUNWRQGHU]RHNVSURJUDPPD,� 0LQLVWHULH� YDQ� GH

9ODDPVH�*HPHHQVFKDS, Integratie in het kwadraat: Diversiteit enDuurzame Tewerkstelling, december 2000 - maart 2002.Promotoren: LAMBERTS M. en JANSSENS M.


9ODDPVH� *HPHHQVFKDS� Personeelsbeleid in KMO’s: eenonderzoek naar de kenmerken van een effectief KMO-personeelsbeleid, oktober 1999 - maart 2001.


92

Promotoren: VAN HOOTEGEM G., LAMBERTS M. and SELS L.

9ODDPV� 0LQLVWHU� YDQ� :HUNJHOHJHQKHLG� /DQGX\W�� Trivisi,Baanbrekend Ondernemen, Procesbegeleider van de Pioniersgroep‘Lerende Bedrijven’, juli 2000 - december 2001.Promotor: L. SELS.

9ODDPV� 0LQLVWHU� YDQ� :HUNJHOHJHQKHLG� /DQGX\W� Trivisi,Baanbrekend Ondernemen, Procesbegeleider van de Pioniersgroep'Management van Diversiteit', Juli 2000-december 2001.Promotor: JANSSENS M.

:7&%� Onderzoek naar de oorzaken van falingen bijbouwbedrijven, maart 1999 - april 2000.Promotoren: ROODHOOFT F. en SELS L.


SELS L., Initiatiefnemer van de seminariereeks ‘Bedrijfs-opleidingsbeleid in Vlaanderen’ die georganiseerd wordt insamenwerking met het kabinet van minister Landuyt en deAdministratie Werkgelegenheid van het Ministerie van de VlaamseGemeenschap. In deze reeks werden drie seminars georganiseerdwaarbij telkens een inleiding rond het thema (SELS L andBOLLENS L.) gevolgd wordt door een debat tussenvertegenwoordigers van de sociale partners (25 oktober 2000),sectorale opleidingsfondsen (8 november 2000), opleidings-aanbieders (17 november 2000) en werkgevers (18 december 2000;co-organisatie VEV).



93

48$17,7$7,9(�0(7+2'6

)DFXOW\�0HPEHUV Zeger Degraeve, Yvo Dirickx, Willy Gochet, Martina Vandebroek andRoger Vandenborre.

9LVLWLQJ�)DFXOW\ Luc Schepens (OM Partners), Nico Vandaele (UFSIA) and ClaudeVan Mechelen (UFSIA).

$VVLVWDQWV Jan Adem, Lucy Amez, Yuri Goegebeur, Peter Goos, Raf Jans, MarcPeeters, Lieven Tack, Michel Van Dommelen, Bart Van Doveren,Frank Vastmans, Katrien Verschueren en Diane Verbiest.

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DEGRAEVE Z., LABRO E. and ROODHOOFT F., An Evaluationof Vendor Selection Models from a Total Cost of OwnershipPerspective, (XURSHDQ�-RXUQDO�RI�2SHUDWLRQDO�5HVHDUFK, Vol. 145,Nr. 1, 34–59, 2000.

Many different vendor selection models have been published in thepurchasing literature. However there has been no systematic approachto compare the relative efficiency of the systems. In this paper wepropose to use the concept of Total Cost of Ownership as a basis forcomparing vendor selection models. We illustrate the comparison witha real life data set of the purchasing problem of ball bearings atCockerill Sambre, a Belgian multinational company in the steelindustry. From a Total Cost of Ownership perspective mathematicalprogramming models outperform rating models and multiple itemmodels generate better results than single item models for this specificcase study.

DEGRAEVE Z. and ROODHOOFT F., A MathematicalProgramming Approach for Procurement Using Activity BasedCosting, -RXUQDO�RI�%XVLQHVV�)LQDQFH�DQG�$FFRXQWLQJ, Vol. 27, Nr.1 and 2, 69–98, 2000.

In this paper we propose to use activity based costing information toselect several suppliers for several orders over a specific time horizon.This research is motivated by the fact that parts and components aremostly procured outside the company in the open market. Moreover, inindustrialized countries a general shift has been observed away from avertical integration strategy towards a focused strategy on the corebusiness of the company. In the face of growing global competition andthe demands that this places on the management of resources,companies are forced to take advantage of any opportunity to improvetheir resource utilization.

DEGRAEVE Z., ROODHOOFT F. and VAN DOOVEREN B.,Een Algemeen Beslissingsondersteunend Systeem voor StrategischAankoopbeleid Gebaseerd op Total Cost of Ownership Informatie,(in Dutch), 7LMGVFKULIW�YRRU�(FRQRPLH�HQ�0DQDJHPHQW, Vol. XLV,309-333, 2000.

GELMAN A., GOEGEBEUR Y., TUERLINCKX F. and VANMECHELEN I., Diagnostic checks for discrete-data regressionmodels using posterior predictive simulations, $SSOLHG� 6WDWLVWLFV,49, 247-268, 2000.

Model checking with discrete data regressions can be difficult becauseusual methods such as residual plots have complicated referencedistributions that depend on the parameters in the model. Posteriorpredictive checks have been proposed as a Bayesian way to average the

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95

results of goodness-of-fit tests in the presence of uncertainty inestimation of the parameters. We try this approach using a variety ofdiscrepancy variables for generalized linear models fit to a historicaldata set on behavioral learning. We then discuss the generalapplicability of our findings in the context of recent applied exampleson which we have worked. We find that the following discrepancyvariables work well, in the sense of being easy to interpret and sensitiveto important model failures: (a) structured displays of the entire data set,(b) general discrepancy variables based on plots of binned or smoothedresiduals versus predictors, and (c) specific discrepancy variablescreated based on the particular concerns arising in an application. Plotsof binned residuals are especially easy to use because their predictivedistributions under the model are simple enough that model checks canoften be made implicitly. The following discrepancy variables did notwork well: (d) scatterplots of latent residuals defined from anunderlying continuous model, and (e) quantile-quantile plots of theseresiduals.



DEGRAEVE Z. and ROODHOOFT F., A Generic DecisionSupport System for Strategic Procurement Based on Total Cost ofOwnership Information, Proceedings of The 9th InternationalAnnual IPSERA Conference, Richard Ivey School of Business, TheUniversity of Western Ontario, Canada, 203-215, May 2000.

BEIRLANT J. and GOEGEBEUR Y., Simultaneous extreme-valueanalysis of several Pareto-type tails, Proceedings of the 2ndCongress on Mathematical Methods in Reliability, p. 183-186.

GOOS P. en VANDEBROEK M., Response surface designs forrandom block effects models, Proceedings in ComputationalStatistics 2000, eds. JANSEN W. and BETHLEHEM J.G.,Statistics Netherlands, Utrecht, The Netherlands, 2000.

TACK L. and VANDEBROEK M., An algorithm for theconstruction of cost-efficient and trend-resistant experiments,Proceedings of the 15th International Workshop on StatisticalModelling, eds. NUÑEZ-ANTÓN V. and FERREIRA E., ServicioEditorial de la Universidad del País Vasco, Bilbao, Spain, 2000.

TACK L. and VANDEBROEK M., Trend-robust and cost-efficientexperimental designs, Proceedings in Computational Statistics2000, eds. JANSEN W. and BETHLEHEM J. G., StatisticsNetherlands, Utrecht, The Netherlands, 2000.

&RQIHUHQFHV&RQIHUHQFHV


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DEGRAEVE Z. and JANS R., A Production Planning Problem inthe Tire Industry, presentation at the International INFORMSMeeting, San Antonio, Fall 2000.

DEGRAEVE Z. and JANS R., An Algorithm for the Multi-ItemLotsizing Problem with Setup Times at Solideal, presentation at the14th International ORBEL conference, Université de Mons,Belgium, Januari 2000.

DEGRAEVE Z., JANS R. and SCHEPENS L., A Strategic ProductRange Split Problem, presentation at the International INFORMSMeeting, San Antonio, Fall 2000.

DEGRAEVE Z. and PEETERS M., The Co-printing Problem,presentation at the International INFORMS Meeting, Salt LakeCity, Spring 2000.

DEGRAEVE Z. and PEETERS M., Solving the LinearProgramming Relaxation of Cutting and Packing Problems: AHybrid Simplex Method/Subgradient Optimization Procedure,presentation at the International INFORMS Meeting, San Antonio,Fall 2000.

DEGRAEVE Z. and ROODHOOFT F., A Generic DecisionSupport System for Strategic Procurement Based on Total Cost ofOwnership Information, presentation at the International IPSERAConference, Richard Ivey School of Business, The University ofWestern Ontario, Canada, 24–27 May 2000.

GOOS P., TACK L. and VANDEBROEK M., Designingexperiments with replicated observations for variance functionestimation, Optimum Design 2000, Cardiff, United Kingdom, 14April 2000.

GOOS P. and VANDEBROEK M., Blocking experiments when theblock effects are random, Optimum Design 2000, Cardiff, UnitedKingdom, 13 April 2000.

GOOS P. and VANDEBROEK M., Blocking Response SurfaceDesigns, International Conference of the Royal Statistical Society,Reading, United Kingdom, 13 September 2000.


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GOOS P. en TACK L., Blocked and Trend-robust ResponseSurface Designs, October Meetings of the Three Country CornerLocal Group of the Royal Statistical Society, Leuven, België, 24October 2000.

TACK L., Cost considerations and trend-robustness in the design ofexperiments, Young Statisticians' Meeting 2000, London School ofHygiene & Tropical Medicine, 10-11 April 2000, London, U.K.

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BEIRLANT J. and GOEGEBEUR Y., Analysis of extremes andregression models, Joint Statistics and Econometrics Seminar,Institut de Statistique, Université Catholique de Louvain,20 October, 2000.

GOOS P. and VANDEBROEK M., Optimal response surfacedesigns in the presence of random block effects, UniversitairCentrum voor de Statistiek, K.U.Leuven, 26 January 2000.

In practice, using sample variances for estimating a variance function isintuitively more appealing than using residuals. Main advantage ofsample variances over residuals is that they are robust tomisspecification of the mean function. Due to the replicationrequirement, neither standard response surface designs nor smalldesigns generated by design construction algorithms can be used toestimate the variance by means of sample variances. Moreover, designconstruction algorithms are intended for mean function estimation andtherefore assume normally distributed responses, whereas samplevariances are assumed to have a chi-square distribution. Hence, theinformation matrix and, consequently, the design criteria of bothproblems differ. Based on maximum likelihood estimation of thesample variances and on weighted least squares estimation of thelogarithms of the sample variances, two alternative approaches for theconstruction of optimum designs for variance function estimation withsample variances are proposed. Based on an extensive simulationstudy, the performance of both optimum designs is evaluated fordifferent estimation methods used in practice.

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BEIRLANT J. and GOEGEBEUR Y., Local Polynomial MaximumLikelihood Estimation for Pareto-type Distributions�� 5HVHDUFK5HSRUW�'7(:��.�8�/HXYHQ��nr� 0024, 29 p., 2000.

We discuss the estimation of the tail index of a heavy-tailed distributionwhen covariate information is available. The approach followed here isbased on the technique of local polynomial maximum likelihoodestimation. The generalized Pareto distribution is fitted locally toexceedances over a high specified threshold. The method provides

5HVHDUFK5HSRUWV


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nonparametric estimates of the parameter functions and their derivativesup to the degree of the chosen polynomial. Consistency and asymptoticnormality of the proposed estimators will be proven under suitableregularity conditions.This approach is motivated by the fact that in some applications thethreshold should be allowed to change with the covariates due tosignificant effects on scale and location of the conditional distributions.The small sample behaviour of the proposed estimator will be examinedwith a simulation study. Using the asymptotic results we are able toderive an expression for the asymptotic mean squared error, which canbe used to guide the selection of the bandwidth and the threshold. Theapplicability of the method will be demonstrated with a few practicalexamples.Keywords and phrases: extreme-value index, generalized Paretodistribution, local polynomial maximum likelihood estimation.

DEGRAEVE Z. and JANS R., A Tire Production SchedulingSystem for Solideal, 5HVHDUFK� 5HSRUW� '7(:�� .�8�/HXYHQ�� nr�0005, 30 p., 2000.

Solideal is an international industrial tire manufacturer. The tires arebuilt in molds and are produced in heaters in large series productionruns. Some tires can be cured in two different types of heaters.Preparing a heater for a specific tire type requires a set up whichtypically only takes place during the morning shift. Therefore, thecompany employs to a discrete production policy. The resultingscheduling problem is a capacitated, multi-item lot sizing problem withset up times and multiple non-identical alternative machines. Theobjective is the minimization of the total costs for set up, backlog andinventory. Management opted for a fast algorithm that could producevarious alternative high quality solutions. The problem is solved usinga column generation scheme where the master is solved approximatelyusing Lagrange relaxation. During the column generation process,various heuristic integer solutions are created from which theschedulers can then choose one to implement. We presentcomputational results on real life data with up to 30 products and 30periods.Keywords: Lot Sizing; Production Planning; Column Generation;Lagrange Relaxation; Decomposition, Set Up Times.

DEGRAEVE Z., JANS R. and SCHEPENS L., A Strategic RangeSplit Problem��5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0006, 26p., 2000.

This paper describes a real life case of a joint production-marketingdecision problem at a large international manufacturer. The range ofproducts considered in this study is split up into product families. Allthe models within each product family make use of some common basiccomponents. The company wants to redesign the products. The goal ofthe redesign is to increase quality and reliability and boost benefits forthe customers in addition to lowering production costs. The costreduction enables the firm to lower the price. Consequently, theredesign is of strategic importance. This redesign implies a proposal ofa new range split, i.e. determine which range of end products will make


99

use of the same common components. The range split has a directimpact on the development costs of the common components, theproduction costs of the end products and hence also on the sales priceand the number of units sold. The problem is to find the mosteconomical split. In order to solve the problem, we will need tointegrate information from different functional areas such asproduction, marketing and accounting. The range split problem isessentially an assortment problem at subassembly level, which leads tocomponent commonality. We propose a mixed integer nonlinearoptimization model that is gradually extended with additional industrialconsiderations, price optimization and demand uncertainty. Themanagement of the company was satisfied with our solution and theydecided to implement the proposal.Keywords: Component Commonality; Range Split; Product FamilyDesign; Mathematical Programming; Assortment Problem; JointProduction-Marketing Decision Making; Uncertainty.

DEGRAEVE Z., LABRO E. and ROODHOOFT F., Constructing aTotal Cost of Ownership supplier selection methodology based onActivity Based Costing and mathematical programming� 5HVHDUFK5HSRUW�'7(:��.�8�/HXYHQ��nr� 0036, 33 p., 2000.

In this paper we elaborate on a Total Cost of Ownership supplierselection methodology that we have constructed using three real lifecase studies which are presented in this article. Analysing the valuechain of the firm, data on the costs generated by the purchasing policyand on supplier performance are collected using Activity Based Costing(ABC). Since a spreadsheet cannot encompass all these costs, let aloneoptimise the supplier selection and inventory management policy, amathematical programming model is used. Possible savings of between6 and 14% are obtained for the three cases.

DEGRAEVE Z., LABRO E. and ROODHOOFT F., Total Cost ofOwnership Purchasing of a Service: The Case of Airline Selectionat Alcatel Bell�5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0011, 39p., 2000.

The multiple objective problem of purchasing for business falls into twobroad categories: the purchasing of components for manufacturing andthe purchasing of services. Several supplier selection models have beensuggested in the literature for the purchasing of production-relatedcomponents. To our knowledge, no supplier selection model for thepurchasing of services has been published. In this paper we elaborateon a mathematical programming model that selects suppliers of amultiple item service and simultaneously determines market shares ofthe suppliers selected. The methodology is based on the collection ofTotal Cost of Ownership (TCO) information, quantifying all the costsassociated with the purchasing process throughout the entire valuechain of the firm. We apply this methodology to the real life case studyof selecting airlines for 56 destinations at Alcatel Bell and haveobtained TCO savings of 19.5%.


100

DEGRAEVE Z. and PEETERS M., Solving the LinearProgramming Relaxation of Cutting and Packing Problems: AHybrid Simplex Method/Subgradient Optimization Procedure�5HVHDUFK�5HSRUW�'7(:��.�8�/HXYHQ��nr� 0017, 17 p., 2000.

In this paper we present a new method for solving the linearprogramming relaxation of the Cutting Stock Problem. The method isbased on the relationship between column generation and Lagrangerelaxation. We have called our method the Hybrid SimplexMethod/Subgradient Optimization Procedure. We test our procedure ongenerated data sets and compare it with the classical column generationapproach.

DEGRAEVE Z. and ROODHOOFT F., The Use of Total Cost ofOwnership for Strategic Procurement: A Company-wideManagement Information System,� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0052, 28 p., 2000.

We present a general company-wide management information systemfor defining procurement strategies. We believe that existing practicesfor determining purchasing strategies can be improved and develop anew approach. The system uses total cost of ownership information.We argue that mathematical programming models should be used forexploiting this information when evaluating the firm’s strategicprocurement options. Our research method corresponds to theinnovation action research concept. Implementations at Usinor, aEuropean multinational steel company, validate our approach byshowing an average reduction in total cost of ownership of about 10%for the different product groups considered.

DIRICKX Y., FILINOV N. and VAN DOMMELEN M., TheEffects of Management Training Programmes: The ProductivityInitiative Programme of the EU 1994-1999, 5HVHDUFK� 5HSRUW'7(:��.�8�/HXYHQ��nr� 0047, 17 p., 2000.

In this paper we intend to extract information out of one of the largestEast-West training programmes, the Productivity Initiative Programme(PIP) of the TACIS Office of the European Union. Our survey is basedon the results of a questionnaire answered by 438 participants employedin companies in the New Independent States (ex Soviet Union) andMongolia (NIS).In order to assess the usefulness of the training programme, we confrontthe views of the participants on the importance of various managerialtopics, as perceived during their West European experience, to theiractual implementation of this experience in their home countries. Byexamining deviations, we will be able to detect some bottleneck-topics.We also identify some internal and external factors, causing an under-and over-use of experience in the NIS companies. Next, we summarizethe difficulties encountered by the participants during theimplementation of changes in their companies, and finally, we presentsome major suggestions of the participants for effective implementationof Western managerial experience in NIS companies.


101

TACK L. and VANDEBROEK M., Trend-Resistant and Cost-Efficient Fixed or Random Block Designs,� 5HVHDUFK� 5HSRUW'7(:��.�8�/HXYHQ��nr� 0021, 25 p., 2000.

When performing an experiment in a time sequence, the experimenterhas reason to believe that the observed responses will be influenced bya temporal trend over the course of the experiment. This paper presentsan algorithm for the construction of block designs that are optimallybalanced for time trends. Contrary to the existing literature, costconsiderations will be allowed for in the construction process and cost-efficient and trend-resistant run orders will be constructed forregression designs in the presence of either fixed or random blockeffects. The proposed algorithm is intended to provide theexperimenter with a general method for solving a wide range ofimportant problems. Practical examples clarify utility and show that thecomputed trend-resistant run orders have outstanding performance bothin terms of costs and D-optimality.

TACK L. and VANDEBROEK M., Trend-resistant design ofexperiments under budget constraints�� 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0035, 25 p., 2000.

When experiments are to be performed in a time sequence, the observedresponses are affected by a time trend. The construction of trend-resistant run orders is extensively described in the literature. However,run orders that are optimally balanced for time trends usually involvehuge costs and they are often of low practical value in view ofeconomical considerations. This paper presents a design algorithm forthe construction of trend-resistant run orders under budget constraints.The algorithm offers the experimenter a general method for solving awide range of practical design problems.

VAN DOMMELEN M. and DIRICKX Y., A Balanced SweepHeuristic for Arc Partitioning, 5HVHDUFK� 5HSRUW� '7(:�

.�8�/HXYHQ��nr� 0051, 21 p., 2000.

This paper presents an alternative heuristic methodology to be used inthe design of balanced partitions associated with the servicing of arcs ina rural region. The construction of partitions is partially based on thesweep algorithm, where the relative geographic position of nodes isdetermined by their polar coordinate angles. A penalty function is usedto quantify if a solution is well balanced. Furthermore a cluster penaltypromotes the connectivity of the arcs within their vehicle cone. Thealgorithm is applied to the municipality of Glabbeek in order to producestreet clusters for waste collection that are balanced with regard toservice time and collected quantity.


102


DEGRAEVE Z., member of the redaction and ad hoc referee forpublications of 7LMGVFKULIW� YRRU� (FRQRPLH� HQ� 0DQDJHPHQW,Departement Toegepaste Economische Wetenschappen,K.U.Leuven, September 1992 – now; ad hoc referee forpublications in the ,QWHUQDWLRQDO� -RXUQDO� RI�3URGXFWLRQ�5HVHDUFK,1993 – now; ad hoc referee for (XURSHDQ�-RXUQDO�RI�2SHUDWLRQDO5HVHDUFK, 1996 - now; ad hoc referee for 2SHUDWLRQV� 5HVHDUFK,1998 – now.


)OHPLVK� )XQG� IRU� 6FLHQWLILF� 5HVHDUFK� A Decision SupportSystem for Strategic Procurement Management Based on TotalCost of Ownership Information, 2000 – 2004.Promotor: DEGRAEVE Z.

27��.�8�/HXYHQ�5HVHDUFK�)XQG��A Decision Support Systemfor Strategic Procurement Management Based on Total Cost ofOwnership Information, 1999 – 2003.Promotor: DEGRAEVE Z.


*RHJHEHXU� <�� $QDO\VLV� RI� H[WUHPHV� DQG� UHJUHVVLRQ� PRGHOV,K.U.Leuven, Department of Mathematics, publicly defended on 31May 2000; members of the commission: BEIRLANT J. (promotor),GOCHET W., GIJBELS I. (Institut de Statistique, UCL),TEUGELS J. and VERMEIRE L. (KULAK).


DEGRAEVE Z., Arthur Andersen Chair in Purchasing and SupplyManagement, joint holder with ROODHOOFT F., since April2000.

GOOS P. en VANDEBROEK M., Price for the poster ‘BlockingResponse Surface Designs’ on the International Conference of theRoyal Statistical Society, Reading, United Kingdom, September2000.


DEGRAEVE Z., Associate Professor of Decision Sciences, LondonBusiness School, United Kingdom, September 1999 – present.




5HVHDUFK�6WD\V

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GOEGEBEUR Y., Conference Chairman, Institute for InternationalResearch, Diegem, 22-23 februari 2000.



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'2&725$/�:25.6+236��

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January 14:MANAGERIAL ECONOMICS AND INDUSTRIAL ORGANISATION

� Izabela Jelovac (Universidade de Vigo)‘GPs’ Payment Contracts and their Referral Attitude’

January 28:MANAGERIAL ECONOMICS AND INDUSTRIAL ORGANISATION

� Michele Cincera (Université Libre de Bruxelles)‘Intra- and Inter Industry R&D Spillovers inside the Triad: Who Benefits fromWhat ?’

February 21:MANAGEMENT INFORMATICS

� Guido Dedene (K.U.Leuven, ETEW)‘Een kritische kijk op Total Cost of Ownership voor ICT’

February 24:MANAGEMENT INFORMATICS

� Guoqing Chen (School of Economics and Management, Tsinghua University,Beijing)‘Mining Association Rules with Fuzzy Taxonomies’

February 29:ORGANISATION STUDIES

� René Bouwen (K.U.Leuven – Acordes)‘Multipartij samenwerkingsverbanden in ontwikkelingsprojecten’

March 10:0$5.(7,1*

� Pieter Pauwels‘International Market Withdrawal : a Strategy Process Perspective’

March 16:QUANTITATIVE METHODS AND OPERATIONS MANAGEMENT

� Raf Jans‘A tire production scheduling system for Solideal’

March 23:0$5.(7,1*

� Marian Garcia‘Innovation Activities in the Food and Drink Industry : the Case of the SpanishF&D Industry’

'7(:�5HVHDUFK�$FWLYLWLHV�� 'RFWRUDO�:RUNVKRSV

105

March 23:QUANTITATIVE METHODS AND OPERATIONS MANAGEMENT

� Lieven Tack‘Economisch en transrobuust statistisch proefopzet’

March 24, 2000:ACCOUNTANCY

� P. Everaert, G. Boer & W. Bruggeman‘The Impact of Target Costing on Cost Quality and Time-to-Market of NewProducts : Conflicting Evidence from Lab Experiments’

� D. Citron & R.J. Taffler‘Going-Concern Uncertainty Disclosure Rates : the Differential Impact of NewForm Audit Reports and Enhanced Audit Procedures’

� Filip Roodhooft & Zeger Degraeve‘A Generic Support System for Strategic Procurement Based on Total Cost ofOwnership Information’

� A. Craswell, J. Francis & F. Guz‘The Demand for Non Audit Services from Auditors’

� Heidi Vander Bauwhede; Marleen Willekens & Ann Gaeremynck‘Earnings Management in Public vs Private Companies : Some Evidence fromBelgium’

March 24:0$5.(7,1*

� Marc Vanhuele (HEC, France)‘Varieties of Consumer Price Knowledge in French Food Retailing. Do peoplereally know if the price is right ?’

March 27:FINANCE

� Claudio Loderer (Universiteit Bern)‘Firms, do you know your currency risk exposure ? Survey results’

March 31:ORGANISATION STUDIES

� Maddy Janssens‘Multipartij overleg in het kader van het non-discriminatiebeleid voor het lageronderwijs’

April 6:QUANTITATIVE METHODS AND OPERATIONS MANAGEMENT

� Marc Peeters‘The coprinting problem’

'RFWRUDO�:RUNVKRSV� '7(:�5HVHDUFK�$FWLYLWLHV��

106


� Carlos Ocampo y Villas & Nico Vandaele‘Measuring product heterogeneity’

April 21:0$5.(7,1*

� Walter Peeters (ESA, T.U.Delft)‘Space Marketing’


� Roel Leus & Willy Herroelen‘Critical chain project scheduling’

May 12:0$5.(7,1*

� Gilles Laurent (HEC, France)‘A Benefit Congruency Framework of Sales Promotion Effectiveness’

May 12:ORGANISATION STUDIES

� Eva Derous (A&O Psychologie)‘Selectie als sociaal proces’

May 18:QUANTITATIVE METHODS AND OPERATIONS MANAGEMENT

� Jeroen Dejonckheere & Marc Lambrecht‘Enkele nieuwe inzichten in verband met het Bullwhip effect’

May 24:INTERNATIONAL MANAGEMENT

� Joseph L.C. Cheng (University of Illinois at Urbana-Champaign)‘Multinational Strategy, Foreign R&D Investment, and Innovation Performance: A Resource Deployment Perspective’

May 24:MANAGERIAL ECONOMICS AND INDUSTRIAL ORGANISATION

� Joseph L.C. Cheng (University of Illinois at Urbana-Champaign)‘Multinational Strategy, Foreign R&D Investment, and Innovation Performance: A Resource Deployment Perspective’

May 24:QUANTITATIVE METHODS AND OPERATIONS MANAGEMENT

� Tom Van Woensel‘Estimating traffic flow emissions’


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May 30:0$5.(7,1*

� Joel B. Cohen (University of Florida)‘Understanding attitudinal divergence : a model of attitude generation andrecruitment’

June 6, 2000:ACTUARIAL SCIENCE

� Otto Wojciech (University of Warsaw)‘Bonus-Malus Systems’

June 8:QUANTITATIVE METHODS AND OPERATIONS MANAGEMENT

� Zeger Degraeve, Raf Jans & Luc Schepens‘A strategic product range split problem’

October 4:MANAGERIAL ECONOMICS AND INDUSTRIAL ORGANISATION

� René Belderbos – Maastricht University‘The Location of Japanese Investment in China : Agglomeration Effects, Keiretsu, and Firm Heterogeneity’

October 27, 2000:ACCOUNTANCY

� Eddy Cardinaels‘Benefits of Customer Profitability Analysis Reports in Repeated BudgetAllocation Decision Making’

November 9:MANAGERIAL ECONOMICS AND INDUSTRIAL ORGANISATION

� Stefano Comino (Universitat Autonoma de Barcelona)‘On the Governance form of R&D alliances’

November 17, 2000:ACCOUNTANCY

� John Holland (University of Glasgow)‘Corporate Value Creation, Intangibles and Valuation : A Dynamic Model ofCorporate Value Creation and Disclosure’

November 21:0$5.(7,1*

� Kalyan Raman (University of Michigan, Flint)‘Synergy in Integrated Marketing Communications : Empirical Evidence andOptimal Communications Mix’

'RFWRUDO�:RUNVKRSV� '7(:�5HVHDUFK�$FWLYLWLHV��

108

November 23:0$5.(7,1*

� Pecheux Claude (FUCAM, Belgium)‘Children’s reactions to advertising communication – stability and moderatorsof the relationships between ad attitude, brand attitude and brand behavior’

November 29:MANAGERIAL ECONOMICS AND INDUSTRIAL ORGANISATION

� Catalina Bordoy Marco (Universitat Autonoma de Barcelona)‘Developing Countries after the TRIPs Agreement : Patent and Trade Policies’

December 13:MANAGERIAL ECONOMICS AND INDUSTRIAL ORGANISATION

� Toke Aidt (Cambridge University)‘Market reforms and corruption in a dynamic democracy’

December 15:0$5.(7,1*

Marketing Winter Camp

� Klaus Wertenbroch (INSEAD)‘On the Causes of Debt Aversion: Consumer Self-Management of LiquidityConstraints’

� Alexey Novoseltsev (K.U.Leuven)‘A Comprehensive Model of Consumer Fair Price Judgements’

� Pierre Chandon (INSEAD)‘Measuring the Value of Point-of-Purchase Marketing with Commercial Eye-Tracking Data’

� Karen Gedenk (University of Frankfurt)‘Range Effects in Preference Measurement: An Empirical Comparison ofMethods for Eliciting Importance Weights’

� Tammo Bijmolt (KUBrabant)‘Meta-analyses as Milestones on the Road of Science’

� Frank Verboven (K.U.Leuven)‘Quantifying the Effects from Horizontal Mergers: Price Effects and Implicationsfor Competition Policy’

December 22:MANAGERIAL ECONOMICS AND INDUSTRIAL ORGANISATION

� Veugelers Reinhilde‘Endogeneizing know-how flows through the nature of R&D investments’


109

%86,1(66�,1=,&+7

Een bericht over onderzoek aan het Departement Toegepaste Economische Wetenschappen van de Katholieke Universiteit

Leuven

%XVLQHVV� ,Q]LFKW� LV� HHQ� JHWXLJHQLV� YDQ� KHW� ZHWHQVFKDSSHOLMN� JHIXQGHHUG� HQ� EHGULMIVUHOHYDQWHPDQDJHPHQWRQGHU]RHN� DDQ� KHW� 'HSDUWHPHQW� 7RHJHSDVWH� (FRQRPLVFKH� :HWHQVFKDSSHQ� YDQ� GH.�8�/HXYHQ��'H�ELMGUDJHQ�EHNOHPWRQHQ�GH�EHGULMIV�HFRQRPLVFKH�UHOHYDQWLH�YDQ�KHW�RQGHU]RHN��GDW�GRRU�HHQH[WHUQH�DFDGHPLVFKH� MXU\�ZHUG�EHRRUGHHOG� �YLD�KHW� UHIHUHH�SURFHV� YDQ�ZHWHQVFKDSSHOLMNH� WRS�WLMGVFKULIWHQ�ERHNHQ�� RQGHU]RHNVSURMHFWHQ� RI� SUHVHQWDWLHV� RS� FRQJUHVVHQ�� %XVLQHVV� ,Q]LFKW� YHUVFKLMQW� GULH� PDDO� SHUDFDGHPLHMDDU�

No 5, Juni 2000 3URMHFWSODQQLQJ(Erik Demeulemeester en Willy Herroelen)

=LW�HU�QRJ�LQIRUPDWLH�LQ�GH�MDDUUHNHQLQJ"(Ann Gaeremynck en Marleen Willekens)

No 4, Maart 2000 ,QQRYDWLH�DOV�DGDSWLHI�SURFHV(Koen Debackere)

'H�EHUHNHQLQJ�YDQ�VFKDGHUHVHUYHV��9$&6�/5&(Marc Goovaerts, Jan Dhaene, Thierry Bauwelinckx, Rik Redant)

No 6, November 2000 *RYHUQDQFH�RI�GH�RSWLPDOH�DDQVWXULQJ�YDQ�GH�RUJDQLVDWLHOHLGLQJ(Cynthia Van Hulle)

7ZHH�FRUSRUDWH�JRYHUQDQFH�PHFKDQLVPHQ�YHUJHOHNHQ(Piet Sercu, Charles Chen & Xueping Wu)

Reacties en feedback zijn welkom bij Linda Van de Gucht (v.u.):[email protected]

Voor een gratis abonnement, contacteer Elke Tweepenninckx:[email protected]

website: http://www.econ.kuleuven.ac.be/cteo/binzicht.htm


110

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No Title Author(s)

OR 9801 A Knowledge Perspective on HRM Activities: What Matters for M. Jan

OR 0001 Stochastic Approximations of Present Value Functions H. CosetteM. DenuitJ. DhaeneE. Marceau

OR 0002 Two-person Insurance Bargaining under Risk Aversion S. ViaeneR. VeugelersG. Dedene

OR 0003 Least Squares Support Vector Machine Classifiers: An Empirical B. BaesensEvaluation S. Viaene

T. Van GestelJ. SuykensG. DedeneB. De MoorJ. Vanthienen

OR 0004 External Technology Sources: Embodied or Disembodied B. CassimanTechnology Acquisition R. Veugelers

OR 0005 A Tire Production Scheduling System for Solideal Z. DegraeveR. Jans

OR 0006 A Strategic Range Split Problem Z. DegraeveR. Jans

OR 0007 Variabel vergoeden R. De Bondt

OR 0008 An explicit formulation for an algorithm and for procedure length B. Bertrandfor the JSP method for structured procedure design G. Dedene

M. SnoeckM. Verhelst

OR 0009 An architecture for bridging OO and Business Process Modelling M. SnoeckS. PoelmansG.Dedene

'7(:�5HVHDUFK�$FWLYLWLHV�� 5HVHDUFK�5HSRUWV

111

OR 0010 The Four-day working week, Unknown, unloved L. SelsResearch into the organisational implications of working time J. Dejonckheerereduction

OR 0011 Total Cost of Ownership Purchasing of a Service: The Case of Z. DegraeveAirline Selection at Alcatel Bell E. Labro

F. Roodhooft

OR 0012 Distant Measures for Information System Reengineering G. PoelsS. ViaeneG. Dedene

OR 0013 Entry decisions in the international expansion process of retail K. Gielenschains: do they matter in the long run? M.G. Dekimpe

OR 0014 Defining Firm Exit: The Impact of Size and Age Revisited L. Van de GuchtJ. KoningsF. Roodhooft

OR 0015 Measures for Object-Event Interactions G. PoelsG. Dedene

OR 0016 The perceived fairness of subsidized prices L. WarlopA.Novoseltsev

OR 0017 Solving the Linear Programming Relaxation of Cutting and Packing Z. DegraeveProblems: A Hybrid Simplex Method/Subgradient Optimization M. PeetersProcedure

OR 0018 Flexibiliteit, Turnover en Opleiding A. ForrierL. SelsJ. Bollens

OR 0019 Wrapped Feature Selection for Neural Networks in Direct S. ViaeneMarketing B. Baesens

D. Van den PoelG. DedeneJ. Vanthienen

OR 0020 Post-Processing of Association Rules B. BaesensS. ViaeneJ. Vanthienen

OR 0021 Trend-Resistant and Cost-Efficient Fixed or Random Block Designs L. TackM. Vandebroek

OR 0022 ‘Meer is niet altijd beter’ L. SelsDe relatie tussen kwaliteit en kwantiteit van opleiding A. Forrier

J. MaesJ. Bollens

OR 0023 On the Merits and Pitfalls of Critical Chain Scheduling W. HerroelenR. Leus

5HVHDUFK�5HSRUWV '7(:�5HVHDUFK�$FWLYLWLHV��

112

OR 0024 Local Polynomial Maximum Likelihood Estimation for Pareto-Type J. BeirlantDistributions Y. Goegebeur

OR 0025 Convex Upper and Lower Bounds for Present Value Functions D. VynckeM. GoovaertsJ. Dhaene

OR 0026 Time-series Models in Marketing M.G. DekimpeD. Hanssens

OR 0027 Participation and trust: an empirical application in the Belgian S. Cludtscontext

OR 0028 Maximizing the net present value of a project with progress M. Vanhouckepayments E. Demeulemeester

W. Herroelen

OR 0029 Measures for assessing dynamic complexity aspects of G. Poelsobject-oriented conceptual schemes G. Dedene

OR 0030 A Validation of Procedures for Maximizing the Net Present M. VanhouckeValue of a Project E. Demeulemeester

W. Herroelen

OR 0031 On the Role of Trivial Differentiation in Learning Product L. WarlopQuality from Experience S. Ratneshwar

S. van Osselaer

OR 0032 A New Random Network Generator For Activity-On-The-Node E. DemeulemeesterNetworks M. Vanhoucke

W. Herroelen

OR 0033 Improving the Reuse Possibilities of the Behavioral Aspects of M. SnoeckObject-Oriented Domain Models G. Poels

OR 0034 Characterising Aggregations with Existence Dependency M. SnoeckG. Dedene

OR 0035 Trend-resistant design of experiments under budget constraints L. TackM. Vandebroek

OR 0036 Applying total cost of ownership for strategic procurement: Three Z. Degraeveindustrial case studies E. Labro

F. Roodhooft

OR 0037 Benefits of customer profitability analysis reports in repeated E. Cardinaelsbudget allocation decision making F. Roodhooft

L. Warlop

'7(:�5HVHDUFK�$FWLYLWLHV�� 5HVHDUFK�5HSRUWV

113

OR 0038 The relative importance of individual, job-related and L. Selsorganisational characteristics in explaining differences in earnings B. Overlaet

J. Welkenhuysen- GybelsA. Gevers

OR 0039 Endogeneizing know-how flows through the nature of R&D B. Cassimaninvestments D. Pérez-Castrillo

R. Veugelers

OR 0040 Patent data as a tool to monitor S & T portfolio’s K. DebackereM. LurvelR. Veugelers

OR 0041 The Adjustment of Financial Ratios in the presence of Soft Budget J. KoningsConstraints: evidence from Bulgaria H. Vandenbussche

OR 0042 Keiretsu Membership, Firm Size, and Corporate Returns on X. WuValue and Cost P. Sercu

C. Chen

OR 0043 Establishing the Internet channel: Short-term pain but long-term I. Geyskensgain? K. Gielens

M.G. Dekimpe

OR 0044 An Overview of decision table literature A. M. Moreno GarciaM. VerhelleJ. Vanthienen

OR 0045 Multinational Firms, Market Integration and trade structure: L. SleuwaegenWhat remains of the standard goods hypothesis? K. De Backer

OR 0046 A Culturally Synergetic Approach to International Human M. JanssensResource Management: Implementing an Integrated Approach

OR 0047 The Effects of Management Training Programmes: Y. DirickxThe Productivity Initiative Programme of the EU N. Filinov

M. Van Dommelen

OR 0048 Does Positive Dependence between Individual Risks increase M. DenuitStop-Loss Premiums? J. Dhaene

C. Ribas

OR 0049 Upper and Lower Bounds for Sums of Random Variables R. KaasJ. DhaeneM. Goovaerts

OR 0050 Some remarks on IBNR evaluation techniques M. GoovaertsJ. DhaeneE. Vanden BorreH. Redant

OR 0051 A Balanced Sweep Heuristic for Arc Partitioning M. Van DommelenY. Dirickx

5HVHDUFK�5HSRUWV '7(:�5HVHDUFK�$FWLYLWLHV��

114

OR 0052 The Use of Total Cost of Ownership for Strategic Procurement: Z. DegraeveA Company-wide Management Information System F. Roodhooft

OR 0053 Audit Quality, Public Ownership and Firms’ Discretionary H. Vander BauwhedeAccruals Management M. Willekens

A. Gaeremynck

The address at which these DTEW research reports can be obtained is:

Ms. Elke TweepenninckxDepartment of Applied EconomicsNaamsestraat 693000 LeuvenBelgium

Tel. nr.: 32-16-32 67 00Fax. nr.: 32-16-32 67 32E-mail: [email protected]

For publications other than ‘Research Reports’, please contact the author(s).

Piet Sercu Research Co-ordinator - CiteSeerX

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