Myriad different types of institutions are involved in social finance. This paper attempts to make sense of the diverse ways of operationalizing the delivery of funds by social financial institutions (SFIs). It explores the continuum of... more
Myriad different types of institutions are involved in social finance. This paper attempts to make sense of the diverse ways of operationalizing the delivery of funds by social financial institutions (SFIs). It explores the continuum of feasible SFIs, which range from foundations offering pure grants to social banks supplying soft loans. The in-between category includes “quasi-foundations” granting loans that require partial repayment only. In our model, the SFIs face information asymmetries and trade off costly social screening against social contributions, under the budget constraint that depends on the generosity of their funders. We characterize the SFIs’ optimal strategy and suggest that quasi-foundations can be efficient vehicles for social finance, especially when social screening costs are relatively low.
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This paper presents a microeconomic model of self-selection into nonprofit management. First, we extend previous models by assuming that individuals are heterogeneous in multiple dimensions besides intrinsic motivation, including... more
This paper presents a microeconomic model of self-selection into nonprofit management. First, we extend previous models by assuming that individuals are heterogeneous in multiple dimensions besides intrinsic motivation, including managerial ability, self-image concerns, and laziness at work. Second, we consider the public sector as an alternative to nonprofit sector employment, and assume that nonprofit, for-profit, and public sectors differ in the perceived level of red tape, and the potential levels of fixed pay and variable pay. We show that self-selection into nonprofit management is a complex process that depends on multiple factors, and formulate conditions that need to be fulfilled in order to have self-selection of heterogeneous individuals into nonprofit management. From this finding we derive a number of important avenues for future research.
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ABSTRACT Social preferences theories suggest that at least some people show altruistic behaviour. However, this philanthropic behaviour ranges from pure altruistic preferences to reluctant altruists. The fact that a subset of contributors... more
ABSTRACT Social preferences theories suggest that at least some people show altruistic behaviour. However, this philanthropic behaviour ranges from pure altruistic preferences to reluctant altruists. The fact that a subset of contributors has impure preferences raises questions regarding the stability of prosocial contributions. Assuming differences in other regarding preferences, we examine whether at an aggregated level monetary contributions are stable or fragile over time. We study the aggregated donations in the US from 1973 to 2013 using ARIMA and ARMAX models. The significant autoregressive and moving average coefficients in our estimations suggest that aggregated donations are highly autocorrelated. Our estimated impulse response functions indicate that aggregated donations converge to their historic mean quickly after an exogenous shock, which shows the stickiness of the inclination to donate.
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We present a model of the physician-patient relationship extending on the model by Farley [Farley, PJ, 1986. Theories of the price and quantity of physician services. Journal of Health Economics 5, 315-333] of supplier-induced demand... more
We present a model of the physician-patient relationship extending on the model by Farley [Farley, PJ, 1986. Theories of the price and quantity of physician services. Journal of Health Economics 5, 315-333] of supplier-induced demand (SID). First, we make a case for the way this ...
Research Interests: Economics, Health Economics, Professional Ethics, Medicine, Applied Economics, and 10 moreHumans, Physicians, New Economic Models, Market Power, Economic Competition, Public health systems and services research, Economic Models, Monopolistic Competition, Physician and Patient Relationship, and Physician-Patient Relations
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Despite an international consensus on the importance to limit State aid spending, large amounts of resources are still devoted to a wide variety of subsidies to firms. A sizable literature studies the relationship between general... more
Despite an international consensus on the importance to limit State aid spending, large amounts of resources are still devoted to a wide variety of subsidies to firms. A sizable literature studies the relationship between general government spending and the proximity of elections, mostly documenting a positive link. In addition, other studies verify whether this strategy of increasing government expenditure pays off in terms of number of votes. We focus on one type of government spending that can be quite vulnerable to becoming ‘targeted spending’, i.e. subsidies to firms. We empirically test the relationship between the amount of subsidies granted to firms at the local level and local support for incumbent parties in the regional government. To that end, we make use of subsidy data derived from financial statements on 2008 and Flemish election results of 2004 and 2009. We find that the total amount of subsidies as well as subsidies per capita granted in 2008 positively correlate to...
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This article describes a theoretical taxonomy of the structural features of social movements. We begin by using two classification criteria to analyze the types of relations that characterize the structure of social movements. From there,... more
This article describes a theoretical taxonomy of the structural features of social movements. We begin by using two classification criteria to analyze the types of relations that characterize the structure of social movements. From there, we look at how differences in structure relate to different goals and forms of action. We then derive a four-fold classification system based on formalization and hierarchy of relationships. For each classification we provide case descriptions of social movements (or parts thereof) using literature on how different movement structures support different types of goals and forms of action. Furthermore, we discuss the dynamics of social movements (or parts thereof) and how their classification may evolve. By doing so, we illustrate how changes in structure, goals, and forms of action mutually influence each other. RÉSUMÉ Cet article dresse une taxonomie théorique des caractéristiques structurelles des mouvements sociaux. Nous utilisons d’abord deux cr...
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The present paper investigates the relationship between Competitive Intelligence (CI) factors, characteristics, information sources, needs, requirements and the export intensity of exporting companies in South Africa. We establish whether... more
The present paper investigates the relationship between Competitive Intelligence (CI) factors, characteristics, information sources, needs, requirements and the export intensity of exporting companies in South Africa. We establish whether there are significant differences between firms, grouped according to export intensity with respect to awareness, use, information sources and attitude towards CI activities. A questionnaire was developed and sent to exporting firms, resulting in a usable sample of 309 South African respondents. These firms are grouped according to export intensity, and CI practices between groups are compared. The results show that export intensive firms appear to be more aware and supportive of CI activities than less export intensive firms.
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Research Interests: Resource Allocation, Public Health, Critical Care, Literature Review, Humans, and 11 moreINTENSIVE CARE, Method, Diagnosis Related Group, Definition, Clinical Sciences, Public health systems and services research, Cost Allocation, Economic evaluation, Intensive Care Medicine, Point of View, and Severity of Illness Index
... Vkronique Weets and Marc Jegers' Vrije Universiteit Brussel, Belgium ... Van Gulck & Co; CL1: Thinfay. Vandenborre en Partners (Deloitte Haskins & Sells); CL2: Jacobs & Eeckhout (Coopers &... more
... Vkronique Weets and Marc Jegers' Vrije Universiteit Brussel, Belgium ... Van Gulck & Co; CL1: Thinfay. Vandenborre en Partners (Deloitte Haskins & Sells); CL2: Jacobs & Eeckhout (Coopers & Lybrand); CL: Coopers & Lybrand; KPMG: Marcel Bellen & Co (KPMG); DFH: Delvaux ...
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... organizations can also be ana-lyzed within this framework (Brody, 1996; Herman and Heimovics, 1991; Hewitt and Brown, 2000 ... De Andrés-Alonso, Martín Cruz, and Romero-Merino (2006) concentrated on the relationship between board... more
... organizations can also be ana-lyzed within this framework (Brody, 1996; Herman and Heimovics, 1991; Hewitt and Brown, 2000 ... De Andrés-Alonso, Martín Cruz, and Romero-Merino (2006) concentrated on the relationship between board characteristics (size, relative number of ...
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... follow from the seminal works of Harold Hotelling, 1925; Gabriel Preinreich, 1938; and Hector Anton, 1956) are given by Ezra Solomon, 1970 ... already been found to be "totally impractical" (Franklin Fisher, 1984, p. 510)... more
... follow from the seminal works of Harold Hotelling, 1925; Gabriel Preinreich, 1938; and Hector Anton, 1956) are given by Ezra Solomon, 1970 ... already been found to be "totally impractical" (Franklin Fisher, 1984, p. 510) and not a "useful benchmark" (Ed-ward McIntyre, 1977, p ...
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Holding companies, which play an important role in corporate finance in Belgium and in other Continental European contries, often trade at a discount to their estimated net asset value (NAV). First, we discuss possible explanations for... more
Holding companies, which play an important role in corporate finance in Belgium and in other Continental European contries, often trade at a discount to their estimated net asset value (NAV). First, we discuss possible explanations for this discount: holding company destroys value, NAV overestimates actual value, noise traders cause underpricing, and private benefits of control. Second, we investgate the discount
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Enkele jaren geleden werden de participatieraden (31 mei 1992) en lokale schoolraden (1 april 1991) in het leven geroepen en moesten ze een nieuwe bijdrage leveren tot het proces van decentralisatie en uitbreiding van de lokale autonomie... more
Enkele jaren geleden werden de participatieraden (31 mei 1992) en lokale schoolraden (1 april 1991) in het leven geroepen en moesten ze een nieuwe bijdrage leveren tot het proces van decentralisatie en uitbreiding van de lokale autonomie van scholen dat reeds enkele jaren voordien was ingezet. Door onderzoekers werden deze ontwikkelingen van decentralisatie en beleidsparticipatie reeds verschillende jaren gevolgd, zowel in Vlaanderen als in het buitenland. Daarenboven werden de participatieraden en lokale schoolraden de laatste jaren bestudeerd door de netten zelf of in opdracht van de overheid. Zo heeft het Departement Onderwijs de werking van de lokale schoolraden laten onderzoeken door het consultingbureau ERNST en YOUNG en het VSKO heeft zelf een onderzoek ingesteld naar de werking van de participatieraden in het katholiek onderwijs. In 1995 werden deze raden opnieuw onderzocht in een ruime survey.' In deze bijdrage zal enkel gerapporteerd worden over de werking van deze rad...
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ABSTRACT Directors on boards of nonprofit organizations can have additional director positions in other nonprofit organizations. When several of these interlocking directors exist for a group of nonprofit organizations, a board network is... more
ABSTRACT Directors on boards of nonprofit organizations can have additional director positions in other nonprofit organizations. When several of these interlocking directors exist for a group of nonprofit organizations, a board network is formed. We investigate to what extent similarity between organizations in terms of size, funding structure and operational activities relates to the presence of shared board members between organizations. For a network of 610 organizations we test and confirm that board networks are not formed at random, but that similarity of organizational characteristics explains interlocking behaviour, and that clusters of similar organizations exist within the overall nonprofit sector. Given this observation we propose three areas for further research. In particular we discuss opportunities regarding potential effects of network clustering, the causal direction of the relationship found, and the complementarity of the board network to other social networks in the nonprofit sector.
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... 7 A final point that merits attention is the nationality question; does Belgium's competitiveness in certain industries exercise a favorable influence on all Belgian companies from the industry (regardless of their location)... more
... 7 A final point that merits attention is the nationality question; does Belgium's competitiveness in certain industries exercise a favorable influence on all Belgian companies from the industry (regardless of their location) or on all companies established in Belgium? ...
... Muzaffar Ahunov PhD student, Free University Brussels Pleinlaan 2, 1050 Brussels, Belgium Tel : +32 484 293 138 E-mail: mahunov@vub.ac.be ... given local area to the total number of bank branches in that area. It ranges between zero... more
... Muzaffar Ahunov PhD student, Free University Brussels Pleinlaan 2, 1050 Brussels, Belgium Tel : +32 484 293 138 E-mail: mahunov@vub.ac.be ... given local area to the total number of bank branches in that area. It ranges between zero and ...
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Rewards are important in attracting, motivating and retaining the most qualified employees, and nurses are no exception to this rule. This makes the establishment of an efficient reward system for nurses a true challenge for every... more
Rewards are important in attracting, motivating and retaining the most qualified employees, and nurses are no exception to this rule. This makes the establishment of an efficient reward system for nurses a true challenge for every hospital manager. A reward does not necessarily have a financial connotation: non-financial rewards may matter too, or may even be more important. Therefore, the present study examines nurses' reward perceptions, in order to identify potential reward options. To answer the research question "What do nurses consider a reward and how can these rewards be categorized?", 20 in-depth semi-structured interviews with nurses were conducted and analysed using discourse and content analyses. In addition, the respondents received a list of 34 rewards (derived from the literature) and were asked to indicate the extent to which they perceived each of them to be rewarding. Discourse analysis revealed three major reward categories: financial, non-financial ...