Documents disponibles écrits par cet auteur

Culture clash / Eric Van den Steen in Management science, Vol. 56 N° 10 (Octobre 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 10 (Octobre 2010) . - pp. 1718-1738 Titre : Culture clash : The costs and benefits of homogeneity Type de document : texte imprimé Auteurs : Eric Van den Steen, Auteur Année de publication : 2010 Article en page(s) : pp. 1718-1738 Note générale : Management Langues : Anglais (eng) Mots-clés : Corporate  strategy  Culture  clash  Mergers  and  acquisitions  Corporate  culture  Performance  Differing  priors  Heterogeneous  priors Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper develops an economic theory of the costs and benefits of corporate culture—in the sense of shared beliefs and values—in order to study the effects of "culture clash" in mergers and acquisitions. I first use a simple analytical framework to show that shared beliefs lead to more delegation, less monitoring, higher utility (or satisfaction), higher execution effort (or motivation), faster coordination, less influence activities, and more communication, but also to less experimentation and less information collection. When two firms that are each internally homogeneous but different from each other merge, the above results translate to specific predictions about how the change in homogeneity will affect firm behavior. This paper's predictions can also serve more in general as a test for the theory of culture as shared beliefs. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/10/1718 [article] Culture clash : The costs and benefits of homogeneity [texte imprimé] / Eric Van den Steen, Auteur . - 2010 . - pp. 1718-1738. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 10 (Octobre 2010) . - pp. 1718-1738 Mots-clés : Corporate  strategy  Culture  clash  Mergers  and  acquisitions  Corporate  culture  Performance  Differing  priors  Heterogeneous  priors Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper develops an economic theory of the costs and benefits of corporate culture—in the sense of shared beliefs and values—in order to study the effects of "culture clash" in mergers and acquisitions. I first use a simple analytical framework to show that shared beliefs lead to more delegation, less monitoring, higher utility (or satisfaction), higher execution effort (or motivation), faster coordination, less influence activities, and more communication, but also to less experimentation and less information collection. When two firms that are each internally homogeneous but different from each other merge, the above results translate to specific predictions about how the change in homogeneity will affect firm behavior. This paper's predictions can also serve more in general as a test for the theory of culture as shared beliefs. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/56/10/1718

Managing know-how / Deishin Lee in Management science, Vol. 56 N° 2 (Fevrier 2010) 

Public ISBD [article]  in Management science > Vol. 56 N° 2 (Fevrier 2010) . - pp. 270-285 Titre : Managing know-how Type de document : texte imprimé Auteurs : Deishin Lee, Auteur ; Eric Van den Steen, Auteur Année de publication : 2010 Article en page(s) : pp. 270-285 Note générale : Management Langues : Anglais (eng) Mots-clés : Knowledge  management  Know-how  Competency  trap  Best  practice Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We study how firms can use a knowledge management system to optimally leverage employee-generated know-how. In particular, we consider the following practical strategic questions for the manager of a knowledge-intensive firm: Should her firm develop a formal knowledge system? And if so, how should it be managed, particularly in terms of what information to record? We find that firms benefit more from a knowledge system when they are larger, face the same issues more frequently, have higher turnover, and face problems about which there is less general knowledge. In terms of what information to record, a key insight is that recording moderately successful practices can be counterproductive, because doing so may inefficiently reduce employees' incentives to experiment. This “strong-form competency trap” forces firms into an exploration–exploitation trade-off. Firms that value a knowledge system most should also be most selective in recording information. We further find that recording successes is more valuable than recording failures, which supports firms' focus on best practice. Beyond these main principles, we also show that it may be optimal to disseminate know-how on a plant level but not on a firm level, and that recording backup solutions is most valuable at medium levels of environmental change. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/56/2.toc [article] Managing know-how [texte imprimé] / Deishin Lee, Auteur ; Eric Van den Steen, Auteur . - 2010 . - pp. 270-285. Management Langues : Anglais (eng) in Management science > Vol. 56 N° 2 (Fevrier 2010) . - pp. 270-285 Mots-clés : Knowledge  management  Know-how  Competency  trap  Best  practice Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : We study how firms can use a knowledge management system to optimally leverage employee-generated know-how. In particular, we consider the following practical strategic questions for the manager of a knowledge-intensive firm: Should her firm develop a formal knowledge system? And if so, how should it be managed, particularly in terms of what information to record? We find that firms benefit more from a knowledge system when they are larger, face the same issues more frequently, have higher turnover, and face problems about which there is less general knowledge. In terms of what information to record, a key insight is that recording moderately successful practices can be counterproductive, because doing so may inefficiently reduce employees' incentives to experiment. This “strong-form competency trap” forces firms into an exploration–exploitation trade-off. Firms that value a knowledge system most should also be most selective in recording information. We further find that recording successes is more valuable than recording failures, which supports firms' focus on best practice. Beyond these main principles, we also show that it may be optimal to disseminate know-how on a plant level but not on a firm level, and that recording backup solutions is most valuable at medium levels of environmental change. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/56/2.toc

Overconfidence by bayesian-rational agents / Eric Van den Steen in Management science, Vol. 57 N° 5 (Mai 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 5 (Mai 2011) . - pp. 884-896 Titre : Overconfidence by bayesian-rational agents Type de document : texte imprimé Auteurs : Eric Van den Steen, Auteur Année de publication : 2011 Article en page(s) : pp. 884-896 Note générale : Management Langues : Anglais (eng) Mots-clés : Overconfidence  Decision  analysis  Risk  Bayesian  updating  Differing  priors  Heterogeneous  priors Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : his paper derives two mechanisms through which Bayesian-rational individuals with differing priors will tend to be relatively overconfident about their estimates and predictions, in the sense of overestimating the precision of these estimates. The intuition behind one mechanism is slightly ironic: In trying to update optimally, Bayesian agents overweight information of which they overestimate the precision and underweight in the opposite case. This causes overall an overestimation of the precision of the final estimate, which tends to increase as agents get more data. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/57/5/884 [article] Overconfidence by bayesian-rational agents [texte imprimé] / Eric Van den Steen, Auteur . - 2011 . - pp. 884-896. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 5 (Mai 2011) . - pp. 884-896 Mots-clés : Overconfidence  Decision  analysis  Risk  Bayesian  updating  Differing  priors  Heterogeneous  priors Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : his paper derives two mechanisms through which Bayesian-rational individuals with differing priors will tend to be relatively overconfident about their estimates and predictions, in the sense of overestimating the precision of these estimates. The intuition behind one mechanism is slightly ironic: In trying to update optimally, Bayesian agents overweight information of which they overestimate the precision and underweight in the opposite case. This causes overall an overestimation of the precision of the final estimate, which tends to increase as agents get more data. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/cgi/content/abstract/57/5/884