ERIM Awards Ceremony 2012: and the awards go to…

At the eleventh annual ERIM Awards Ceremony, the Erasmus Research Institute of Management (ERIM) honoured its best researchers of the joint graduate school of the Rotterdam School of Management, Erasmus University (RSM) and the Erasmus School of Economics (ESE). The prizes are divided into different academic disciplines such as the Dissertation Award, the Book Award and the Impact Award.

Professor Marno Verbeek, Scientific Director of ERIM, opened the ceremony reflecting on this year’s milestones and on the future. He structured his presentation around four pillars: quality of research, research impact, research funding and the ERIM doctoral programme. He reminded the audience of the continuous growth of ERIM, where for the first time this year the number of male and female PhD candidates entering the programme was equal. With the creation of a couple of new research centres such as the Erasmus Centre for Family Business, the Erasmus Centre for Future Energy Business, and the Sustainability and Innovation Centre, and academic events like the EURAM 2012 conference, it was a busy year. While research funding is under pressure, ERIM researchers received a couple of important grants such as a Marie Curie grant for Professor Gail Whiteman, a Veni grant for Dr Dion Bongaerts and a KNAW grant for Professor René de Koster.

He then invited Professor Henk Schmidt, Rector Magnificus of Erasmus University Rotterdam to present the ERIM Awards.

Professor Schmidt congratulated ERIM with providing a highly dynamic research environment and for being a real example to other research groups at the university. He reminded the audience of ERIM’s excellence in research and the quality of the training of its PhD students, as well as the well-structured research support where ERIM clearly serves as an example as well. He concluded by talking about the three main issues academic research currently is facing: the strong global competition in research excellence; the extended funding, where research needs to become more and more active in acquiring support; and data integrity.

Professor Schmidt continued by handing out the Awards, starting with the most senior award, the ERIM book award, to the following people:

The 2012 Book Award to Ilan Oshri, Associate Professor at the Department of Strategic Management and Entrepreneurship, for the book Offshoring Strategies: Evolving Captive Center Models, published in 2011 by MIT Press. The jury says: “It was a great pleasure to read this book. Outsourcing and in particular offshore outsourcing have been around for some time. The specific area of captive outsourcing was relatively absent in the international literature, and this book does an excellent job filling this gap. The logical structure, combined with the clever chapter introductions, makes this book accessible to a wide audience of academics and practitioners. The author provides a comprehensive discussion on this very important phenomenon in a globalising business world. The analysis is based on a thorough literature overview and an in depth analysis of cases of global Fortune 250 companies. His description of basic captive centre models and captive centre strategies, offer great insights from an academic perspective, and are also highly useful for practitioners.”

The 2012 Dissertation Award to Marc van Essen for his cum laude dissertation entitled An Institution-Based view of Ownership. The jury says: “Marc van Essen’s dissertation is an impressive work containing no less than six empirical papers dealing with an institution-based view of corporate governance. This topic is highly relevant, as is reflected in the publication in top journals of already four of these papers. This includes articles in the Academy of Management Journal and Organization Science. Apart from substantive contributions (both theoretical and practical) in the area of corporate governance, van Essen also advances the use of meta-analytical techniques in business research.” Hans van Oosterhout, his supervisor during his PhD trajectory, received the award on behalf of Marc.

The 2012 Top Article Award to Sebastian Gryglewicz, Assistant Professor at the Department of Business Economics, Erasmus School of Economics, for his article: A theory of corporate financial decisions with liquidity and solvency concerns, published in the Journal of Financial Economics, in 2011. The jury says: “This paper studies the effects of the interaction between two sources of financial distress, illiquidity and insolvency, on a firm’s financing and default policy. It is the first work to develop a unifying dynamic model to uncover the effects of this interaction. In doing so, it makes three important contributions. First, it gives a rational explanation for dividend smoothing, perhaps the most characterising feature of a firm’s payout policy. In the model, dividend smoothing arises endogenously as a consequence of the optimal cash management policy, without any reference to managers or shareholders preferences. Second, the paper explains why constrained firms show a positive cash flow sensitivity of cash. Third, it also provides a technical contribution, as it develops a tractable continuous-time Markov model with two state variables, profitability and cash holdings, which correspond to the two dimensions of a firm's financial policy.”

The 2012 Service Award to RSM Project Desk Team members Claudia Rutten, Bep Klop & Marlijn de Lange, employed at the Dean’s Office at Rotterdam School of Management, Erasmus University (RSM). The jury says: “The Project Desk has been recently developed to support RSM researchers with administrating and running research projects, covering both grants and other externally funded projects. It has made a tremendous effort to professionalise its services, in close collaboration with ERIM to make sure that the grant acquisition process runs smoothly, from submission to official completion and closure. The desk has developed a tailor-made project database with the help of the IT department and ERIM, which contains documents of all funding proposals, ongoing projects and completed projects. Thanks to this it is now possible to get up-to-date management information on all funding efforts by RSM faculty. On top of all, the people in the project desk have a client friendly attitude and invest serious effort in quick and professional assistance.”

The 2012 Awards for Outstanding Performance by a Young Researcher go to Aurélien Baillon, Associate Professor at the Department of Applied Economics of the Erasmus School of Economics and to David Veenman, Associate Professor at the Department of Business Economics of the Erasmus School of Economics. The jury says: “Aurélien Baillon managed to publish no less than four top publications on behavioural decision making in the previous two years, two of which appeared in the American Economic Review, one of the most prestigious journals in economics. This achievement is highly impressive for someone in this stage of his career, making Dr Baillon a well-deserved winner. David Veenman’s excellent track record in financial accounting is extremely rare in Western Europe. In a very short period of time – less than three years after finishing his PhD in Amsterdam – he managed to realise six top publications, three of which are in ERIM P* journals in accounting. Moreover at his very young age, David recently entered the Editorial Board of the European Accounting Review. ERIM can be proud to have winners like Dr Baillon and Dr Veenman as two of its members.”

The 2012 Award for the Impact on Management Practice goes to the COMPOSITE project, led by Gabriele Jacobs with local Team Members: Saskia Bayerl, Kate Horton, Daan van Knippenberg and Johan van Rekom, as well as Roel van den Berg, Bep Klop, and Marlijn de Lange for their project: Comparative Police Studies in the European Union (COMPOSITE). The jury says: “The Research Team of Composite has chosen a highly relevant, though highly complicated research area. It is complex, especially in terms of accessibility of the research domain (policing in itself and across ten different European countries), and innovative, given the ambitious and cross-disciplinary nature of the project. The team has designed a unique 'buy-in' and 'dissemination' model, involving both the top-level policy makers as well as the end-users. The entire setup of the research appears - from the start - focussed on achieving maximum impact within the research area. For example, policy-makers within police organisations will start cooperating and learning lessons from each other’s best practices, within and across the different regions and countries involved. This impact is being organised, among others, through a suite of (transnational) consulting services, being developed while the research is still in progress. The design of the process in COMPOSITE is therefore great example of academic research in action - where the value is as much in the process as in the outcome. Chapeau for this Research Team in setting up a unique and creative, impressive and highly relevant approach!” On this occasion, Johan van Rekom comments: “Gabriele and I hardly can believe we win this impressive award. We have only started this project with a two-slide presentation to a European Union audience in September 2008. I never expected that we would have so much impact already in such a short period of time. Wow!”