Showing papers by "Tilburg University published in 1997"
TL;DR: In this paper, the effects of governance and trust on the risk perceived by agents of firms in alliances were tested. But trust has been treated as redundant or even misleading. And trust has not been considered in transaction cost economics.
Abstract: In transaction cost economics, trust has been treated as redundant or even misleading. This study tested the effects of governance and trust on the risk perceived by agents of firms in alliances. T...
1,192 citations
TL;DR: This paper found that the more frequently returns are evaluated, the more risk averse investors will be, in line with the behavioral hypothesis of "myopic loss aversion", which assumes that people are myopic in evaluating outcomes over time, and are more sensitive to losses than to gains.
Abstract: Does the period over which individuals evaluate outcomes influence their investment in risky assets? Results from this study show that the more frequently returns are evaluated, the more risk averse investors will be. The results are in line with the behavioral hypothesis of "myopic loss aversion," which assumes that people are myopic in evaluating outcomes over time, and are more sensitive to losses than to gains. The results have relevance for the equity premium puzzle, and also for the marketing strategies of fund managers.
1,158 citations
TL;DR: In this article, hypotheses about which differences in national culture are most disruptive for international joint ventures were developed and tested using Hofstede's five dimensions, focusing on how these dimensions affect the survival of international joint venture, as well as their incidence relative to wholly owned subsidiaries.
Abstract: An international joint venture implies that a firm has to cooperate with a partner with a different cultural background In this study, hypotheses about which differences in national culture are most disruptive for international joint ventures were developed and tested using Hofstede's five dimensions The study focused on how these dimensions affect the survival of international joint ventures, as well as their incidence relative to wholly owned subsidiaries The hypotheses were tested on longitudinal data about 828 foreign entries of twenty-five Dutch multinational in seventy-two countries between 1966 and 1994 The database, which spans almost three decades, was also used to provide new evidence on a key assumption of Hofstede's work: that cultural values are stable over time
667 citations
01 Jan 1997
TL;DR: In this paper, hypotheses about which differences in national culture are most disruptive for international joint ventures were developed and tested using Hofstede's five dimensions, and the hypotheses were tested on longitudinal data about 828 foreign entries of twenty-five Dutch multinationals in seventy-two countries between 1966 and 1994.
Abstract: textAn international joint venture implies that a firm has to cooperate with a partner with a different cultural background. In this study, hypotheses about which differences in national culture are most disruptive for international joint ventures were developed and tested using Hofstede's five dimensions. The study focused on how these dimensions affect the survival of international joint ventures, as well as their incidence relative to wholly owned subsidiaries. The hypotheses were tested on longitudinal data about 828 foreign entries of twenty-five Dutch multinationals in seventy-two countries between 1966 and 1994. The database, which spans almost three decades, was also used to provide new evidence on a key assumption of Hofstede's work: that cultural values are stable over time.
638 citations
01 Jan 1997
TL;DR: In this paper, the authors show that successful international joint ventures entail both learning to operate across national boundaries and learning to cooperate, grounded in organizational learning theory, and test these hypotheses with event-history analysis and data on 1,493 expansions of 25 large Dutch firms between 1966 and 1994.
Abstract: textSuccessful international joint ventures entail both learning to operate across national boundaries and learning to cooperate. Hypotheses grounded in organizational learning theory were tested with event-history analysis and data on 1,493 expansions of 25 large Dutch firms between 1966 and 1994. Experience with domestic joint ventures and with international wholly owned subsidiaries contributed to the longevity of international joint ventures, but prior experience with international joint ventures did not.
537 citations
TL;DR: In this paper, the authors show that successful international joint ventures entail both learning to operate across national boundaries and learning to cooperate, grounded in organizational learning theory, and test these hypotheses with event-history analysis and data on 1,493 expansions of 25 large Dutch firms between 1966 and 1994.
Abstract: Successful international joint ventures entail both learning to operate across national boundaries and learning to cooperate. Hypotheses grounded in organizational learning theory were tested with event-history analysis and data on 1,493 expansions of 25 large Dutch firms between 1966 and 1994. Experience with domestic joint ventures and with international wholly owned subsidiaries contributed to the longevity of international joint ventures, but prior experience with international joint ventures did not.
527 citations
TL;DR: In this paper, a review of the literature on multi-component maintenance models with economic dependence is presented, focusing on papers that appeared after 1991, but there is an overlap with Section 2 of the most recent review paper by Cho and Parlar.
Abstract: In this paper we review the literature on multi-component maintenance models with economic dependence. The emphasis is on papers that appeared after 1991, but there is an overlap with Section 2 of the most recent review paper by Cho and Parlar (1991). We distinguish between stationary models, where a long-term stable situation is assumed, and dynamic models, which can take information into account that becomes available only on the short term. Within the stationary models we choose a classification scheme that is primarily based on the various options of grouping maintenance activities: grouping either corrective or preventive maintenance, or combining preventive-maintenance actions with corrective actions. As such, this classification links up with the possibilities for grouped maintenance activities that exist in practice.
391 citations
TL;DR: In this paper, the authors employ the fact that any function of time can be approximated arbitrarily close by a linear function of Chebishev polynomials, and apply their tests to the GNP deflator, the consumer price index, and the interest rate for the USA, taken from the extended Nelson-Plosser data set.
349 citations
TL;DR: This paper develops Bayesian tools for making inferences about firm-specific inefficiencies in panel data models using Monte Carlo integration or Gibbs sampling to study the influence of the particular priors used on the firm effects.
295 citations
TL;DR: In this paper, a new exact solution for the initialization of the Kalman filter for state space models with diffuse initial conditions is presented, which is easy to implement and computationally efficient.
Abstract: This article presents a new exact solution for the initialization of the Kalman filter for state space models with diffuse initial conditions. For example, the regression model with stochastic trend, seasonal and other nonstationary autoregressive integrated moving average components requires a (partially) diffuse initial state vector. The proposed analytical solution is easy to implement and computationally efficient. The exact solution for smoothing is also given. Missing observations are handled in a straightforward manner. All proofs rely on elementary results.
215 citations
TL;DR: In this paper, consistent cointegration tests, and estimators of a basis of the space of cointegrating vectors, that do not used specification of the data-generating process, apart from some mild regularity conditions, or estimation of structural and/or nuisance parameters, are proposed.
TL;DR: The screening problem by a novel technique called ‘sequential bifurcation’, which identifies some factors as being important that the ecological experts initially thought to be unimportant.
TL;DR: In this article, the optimal rules for capital income and profits taxation in the open economy with or without foreign ownership of domestic firms were established, and they showed that if there are constraints on the feasibility of profits taxation, both saving and investment taxes generally entered the optimal tax package.
TL;DR: In this article, a genetic algorithm is used to learn the optimal portfolio of rational investors in a financial market, and it is shown that adaptive agents exhibit an asymmetric response after positive and negative returns where the portfolio adjustment is more pronounced after negative returns.
TL;DR: IGTree is a useful algorithm for problems characterized by the availability of a large number of training instances described by symbolic features with sufficiently differing information gain values, and is obtained similar or better generalization accuracy with IGTree when trained on two complex linguistic tasks.
Abstract: We describe the IGTree learning algorithm, which compresses an instance base into a tree structure. The concept of information gain is used as a heuristic function for performing this compression. IGTree produces trees that, compared to other lazy learning approaches, reduce storage requirements and the time required to compute classifications. Furthermore, we obtained similar or better generalization accuracy with IGTree when trained on two complex linguistic tasks, viz. letter–phoneme transliteration and part-of-speech-tagging, when compared to alternative lazy learning and decision tree approaches (viz., IB1, information-gain-weighted IB1, and C4.5). A third experiment, with the task of word hyphenation, demonstrates that when the mutual differences in information gain of features is too small, IGTree as well as information-gain-weighted IB1 perform worse than IB1. These results indicate that IGTree is a useful algorithm for problems characterized by the availability of a large number of training instances described by symbolic features with sufficiently differing information gain values.
TL;DR: In this paper, four types of industrial ecology activities are distinguished based on organizational sociological concepts, and conclusions are drawn concerning the way in which industrial ecology initiatives can, and should, be stimulated.
TL;DR: In this article, the authors explore how an environmental tax reform impacts pollution, economic growth and welfare in an endogenous growth model with pre-existing tax distortions and find that a shift in the tax mix away from output taxes towards pollution taxes may raise economic growth through two channels.
TL;DR: In this article, the authors explore similarities and differences between perceived service quality and related constructs using conceptual dimensions to explore similarities, differences and interrelationships which are not always recognized in service quality research and management and suggest avenues for future research.
Abstract: Aims to explicate the relationships between, and restrict the domains of, perceived service quality, perceived product value, product attitude, and customer satisfaction/dissatisfaction. Uses conceptual dimensions to explore similarities and differences between perceived service quality and related constructs. States that the conceptual analysis shows similarities, differences and inter‐relationships which are not always recognized in service quality research and management and suggests avenues for future research.
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TL;DR: In this article, the authors explore similarities and differences between perceived service quality and related constructs using conceptual dimensions to explore similarities, differences and interrelationships which are not always recognized in service quality research and management and suggest avenues for future research.
Abstract: Aims to explicate the relationships between, and restrict the domains of, perceived service quality, perceived product value, product attitude, and customer satisfaction/dissatisfaction. Uses conceptual dimensions to explore similarities and differences between perceived service quality and related constructs. States that the conceptual analysis shows similarities, differences and inter‐relationships which are not always recognized in service quality research and management and suggests avenues for future research.
TL;DR: In this article, the authors developed an empirically based framework for formulating proactive product service strategies in the industrial context by investigating the influence of product services on the adoption of a new medical instrument among hospitals in Europe.
TL;DR: In this article, a Bayesian analysis of the stochastic frontier model with composed error is presented, and the existence of the posterior distribution and posterior moments is examined under a commonly used class of (partly) noninformative prior distributions.
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TL;DR: In this article, five related types of analysis, namely sensitivity or what-if analysis, uncertainty or risk analysis, screening, validation, and optimization, are reviewed, and the main questions are: when should which type of analysis be applied; which statistical techniques may then be used?
Abstract: This paper reviews five related types of analysis, namely (i) sensitivity or what-if analysis, (ii) uncertainty or risk analysis, (iii) screening, (iv) validation, and (v) optimization. The main questions are: when should which type of analysis be applied; which statistical techniques may then be used? This paper claims that the proper sequence to follow in the evaluation of simulation models is as follows. 1) Validation, in which the availability of data on the real system determines which type of statistical technique to use for validation. 2) Screening: in the simulation‘s pilot phase the really important inputs can be identified through a novel technique, called sequential bifurcation, which uses aggregation and sequential experimentation. 3) Sensitivity analysis: the really important inputs should be subjected to a more detailed analysis, which includes interactions between these inputs; relevant statistical techniques are design of experiments (DOE) and regression analysis. 4) Uncertainty analysis: ...
TL;DR: In this article, an estimator that avoids imputation and uses all available transactions to calculate (cross) covariances is proposed, which creates the possibility to analyze lead-lag relationships at arbitrarily high frequencies without additional imputation bias.
TL;DR: In this paper, the authors integrate configuration and co-ordination in international manufacturing and location decisions to enhance the understanding of the functioning of foreign plants in international networks and yields some important implications for managers responsible for international location issues.
Abstract: Questions on configuration and co‐ordination are seldom integrated in research on international manufacturing and location decisions. Suggests a way in which these two aspects can be linked by combining concepts from international business and manufacturing strategy. Elaborates the practical relevance of this integration in the experiences of Dutch investors locating plants in Thailand. Simultaneous attention to configuration and co‐ordination enhances the understanding of the functioning of foreign plants in international networks and yields some important implications for managers responsible for international location issues.
TL;DR: This paper claims that the proper sequence to follow in the evaluation of simulation models is validation, in which the availability of data on the real system determines which type of statistical technique to use for validation.
Abstract: This paper reviews five related types of analysis, namely (i) sensitivity or what-if analysis, (ii) uncertainty or risk analysis, (iii) screening, (iv) validation, and (v) optimization. The main questions are: when should which type of analysis be applied; which statistical techniques may then be used? This paper claims that the proper sequence to follow in the evaluation of simulation models is as follows. 1) Validation, in which the availability of data on the real system determines which type of statistical technique to use for validation. 2) Screening: in the simulation‘s pilot phase the really important inputs can be identified through a novel technique, called sequential bifurcation, which uses aggregation and sequential experimentation. 3) Sensitivity analysis: the really important inputs should be subjected to a more detailed analysis, which includes interactions between these inputs; relevant statistical techniques are design of experiments (DOE) and regression analysis. 4) Uncertainty analysis: ...
TL;DR: In this article, the authors provide a theoretical framework to analyse the response of life time maximizing consumers to intertemporal prices of non-durable goods and durable goods when the borrowing limit depends on the market value of the stock of durables owned by the consumer.
01 Jan 1997
TL;DR: The level of ambition of a company with respect to its environmental performance is seen as the result of the following three variables: the coincidence of increased eco-efficiency and market opportunities; the internal structure and culture of the company (including the influence of a number of important actors in it) and the pressure from the immediate and wider social environment to take environmental measures.
Abstract: Environmental management is a budding discipline that studies the development and shaping of environmental policy in business. This article discusses what progress has been made in theory building in the field of environmental management, and what priorities should be set for future research. The level of ambition of a company with respect to its environmental performance is seen as the result of the following three variables: the coincidence of increased eco-efficiency and market opportunities; the internal structure and culture of the company (including the influence of a number of important actors in it) and the pressure from the immediate and wider social environment to take environmental measures.
Research in the field of environmental management can improve our understanding of the conditions under which companies will strive for higher eco-efficiencies. It is argued that such research must concentrate on the interaction of the three variables mentioned above and on how they affect the actions of companies. © 1998 John Wiley & Sons, Ltd and ERP Environment.
TL;DR: In this article, the authors used sibling models to estimate the total impact of family background on cultural consumption and found that older siblings' cultural consumption is affected more strongly by family background than the cultural consumption of their younger brothers and sisters.
TL;DR: In this paper, the authors propose to handle deep problems like cold baths: quickly into them and quickly out of them, and the question is: should the idea of a European Civil Code be supported?
Abstract: I propose to heed Nietzsche's advice: 'Handle deep problems like cold baths: quickly into them and quickly out of them.'2 The 'deep problem' I wish to address here concerns European legal integration. Specifically, I want to consider a propoundment which is apparently meeting with increasing favour in various political, professional and academic circles: that of a European Civil Code.3 The paradox is noteworthy: while nineteenth-century civil codes ruptured aspects of the commonality that had previously linked continental legal cultures, a civil code, it is now thought by many, will cement a legal unity across European legal cultures. The question is: should the idea of a European Civil Code be supported? My answer is, emphatically: no, it should not. I have divided my argument into three parts.
TL;DR: In this paper, the structural and word order properties of the adjectival projection of Dutch adjectives have been investigated and a strong empirical and theoretical basis for extending the functional head hypothesis to the adjective system has been established.
Abstract: This paper is concerned with the phrase structural and word order properties of the (extended) adjectival projection, a phrase structural domain which has received relatively little attention in the generative literature. Focusing on the internal syntax of Dutch adjective phrases, I will come to the following conclusions. First, there is a strong empirical (and theoretical) basis for extending the functional head hypothesis to the adjectival system (i.e. for adopting the DegP-hypothesis). Secondly, a distinction should be made between two types of functional degree categories: Deg(P) and Q(P). This split is represented structurally, with Deg selecting QP and Q selecting AP (the split degree system hypothesis). Thirdly, there is empirical support for the existence of a third functional projection, AgrP, within the adjectival domain. Fourthly, as regards directionality of headedness within the Dutch functional system, it is concluded that Deg and Q take their complements to the right, whereas Agr takes its complement to the left. It is proposed that this asymmetry of headedness within the functional structure of the adjectival projection relates to the nominal orientation of Deg and Q and the verbal orientation of Agr. Finally, three movement operations will be identified within the Dutch adjectival system: A-to-Q raising, A-to-Agr raising and leftward scrambling. The latter two are at the basis of the word order variation which is found within the Dutch adjectival system.