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Verkenningsrapport HEO met regie naar verantwoordelijkheid

Towards an Optimal IPO Mechanism

Concerns about the negative consequences of the excessive underpricing of the current arrangement in the initial public offering (IPO) market for the provision of entrepreneurial finance—book building—have led to research into the viability of auctions for IPO pricing and allocation. IPO firms face a trade-off between the benefit of accurate and reliable IPO price discovery and the cost of underpricing. The main aim of this paper was to gain new scientific knowledge about this trade-off by measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price. Using controlled experiment methodology in multi-unit uniform price auctions we found that the most capacity-restricted auctions that also offer investors a discount are likely to produce the most accurate and reliable price discovery and consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize investors to reliably contribute to price discovery. The resulting underpricing (and its variability) of these auctions is likely to be significantly lower than if book building would be used to price and allocate IPOs. Technological innovation in the IPO market through the application of recent advances in data science, experimental economics and artificial intelligence allows for the optimization of IPO mechanisms and crowdfunding platforms which in turn improves the access to equity required for entrepreneurial finance.

Digital Entrepreneurship

In the digital age, entrepreneurship is now more in demand than ever before. However, digital entrepreneurship is not limited to holding online meetings, paperless office or communication on social media. Rather, it must be seen as a holistic approach to thinking that encompasses all processes of an organisation, including communication and service provision. If we succeed in “thinking digitally”, such as integrating digital process support at all levels, we can experience long-term success and keep uprising competitors at bay.

Entangled Sensemaking at Sea

Sustainable commercial fishing, species conservation, and bycatch are contentious topics. Great emphasis has been placed on the sustainable sourcing of particular species that we buy at the store and order in restaurants, but how can we trust that the fish on our plates, from a system-wide perspective, have been appropriately sourced? Even in what are commonly considered to be the best-managed fisheries in the world (i.e., Alaskan fisheries), thousands of tons of fish are wasted each year in the interest of providing certain species in certain ways to certain people, at certain prices. Are the management practices and regulations that we think are helping actually having the desired outcomes in terms of the effective use of natural resources?This book presents a framework that can enhance our understanding, research, and regulation of frontline organizing processes in commercial fisheries, which may be generalized to other resource extraction industries. It enables readers to better grasp and respond to the need to develop practices and regulations that involve effective use of all natural resources, rather than just a chosen few. The book is especially important to researchers and practitioners active in the fishing industry, and natural resource managers and regulators interested in understanding and improving their management systems. It is also highly relevant to organization and management researchers interested in coupled human and natural systems, ecological sensemaking, the role of quantum mechanics in organizational phenomena, sociomateriality, and sustainability.The book uses the real-world case of an Alaskan fishing fleet to explore how the commercial fishing industry (which includes businesses, management agencies, regulatory bodies, and markets, among others) entangles itself with natural phenomena in order to extract resources from them. After gaining a better understanding of these processes can we see how they can be improved, especially through changes to regulatory management systems, in order to foster not only more sustainable, but also less wasteful (these two goals are not necessarily interdependent in today's regulatory management systems), natural resource extraction and use. Such an understanding requires exploring how regulations, natural phenomena, human sensemaking processes, and market forces entangle at sea to materialize the fish that make their way to our plates - as well as those that, importantly, do not.

The implications of English-medium instruction on teaching practice and learning outcomes at The Hague University of Applied Sciences

In response to globalisation and internationalisation of both higher education and the job market, The Hague University of Applied Sciences (THUAS) has seen a considerable increase in English-medium courses, i.e. non-language subjects taught through English. Internationally, the rise of English-medium instruction (EMI) has led to research on, and discussion about the possible side-effects of a change in instructional language. More specifically, whether using a foreign language as the medium of instruction has a negative impact on teaching and learning. This paper reports the findings of a pilot research project into the implications of English-medium instruction (EMI) as perceived by students and teachers of the bachelor program Commercial Economics at the Faculty of Business, Finance and Administration at THUAS. Research methods used to collect data include face-to-face interviews with both students and lecturers involved in EMI subject courses, a student questionnaire, and lesson observations. Despite regular exposure to English and an adequate self-perceived English proficiency, results show that a considerable number of students, as well as teaching staff are experiencing difficulties with English-medium instruction and that for many EMI is not as efficient in transferring academic content as instruction in the mother tongue.

What Doughnut Economics means for business

The 21st century’s rapidly compounding crises – from climate and ecological breakdown to extreme social inequities of power and opportunity – make it irrefutably clear that the global economic system must be transformed if humanity and the rest of life on Earth are to thrive. Doughnut Economics provides an increasingly recognised compass for such a thriving future, and is focused on meeting the needs of all people within the means of the living planet, by creating economies that are regenerative and distributive by design. What are the implications for the role and transformation of business, if it is to be part of this future?This paper explores how the deep design of business – through a company’s Purpose, Networks, Governance, Ownership, and Finance – powerfully shapesits strategic decisions and operational impacts, and ultimately determines whether or not businesses can transform to become part of a regenerative and distributive future. By diving into five layers of deep design, this paper reveals both design blockages that prevent transformative action, and design innovations that can unlock its possibility. In addition, this paper recognises that industry-level and system-wide transformations are crucial for turning the inheritance of a degenerative and divisive economic system into the beginnings of a regenerative and distributive one.