Vlerick Expertise in Accounting & Finance

The economic uncertainties of today’s world, the narrowing margins due to hyper-competitive markets, and the volatility in financial markets make it crucial for (financial) managers and entrepreneurs to be aware of the impact that financial management decisions have on an organisation's success. This market situation also demands in-depth knowledge of management accounting and control.

Managers need to be able to set up accurate costing structures and to develop well-balanced control systems. Our experts in Accounting & Finance develop knowledge in the field of corporate finance and management accounting through fundamental and applied research. Our faculty and researchers conduct research in specific areas such as financial accounting, management accounting and control, performance management, entrepreneurial finance, venture capital, mergers and acquisitions, valuation, credit risk management,…

We then translate this expertise into publications, management programmes (if so desired, tailor-made for your company) and management advice. You can also come to us for networking among financial professionals. In this section you can find an overview of our research and knowledge in the management domain of Accounting & Finance. By regularly visiting this page you stay up-to-date on our latest research findings.

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  1. Strong growth in Belgian mergers and acquisitions market

    2015 and the beginning of 2016 were characterised by a pronounced increase in the number of transactions in the Belgian mergers and acquisitions market. Demand is greater than supply, stimulated by easy and cheap access to finance and greater availability of financial resources to investment companies. Furthermore, the persistently low interest rate environment means there is increased interest from family investors, wealthy individuals and foreign private equity funds in Belgian medium-size enterprises. It is therefore not surprising that the prices paid are increasing across all sectors and business sizes. These are the findings from a survey of 142 Belgian mergers and acquisitions experts into their experiences over the past year.

  2. Family companies more open to private equity

    ‘Keep it in the family.’ The time-honoured motto of family companies has applied less and less in recent years, and that includes their funding. All around us we see increasing transparency and openness to the outside world, and family companies today are not immune to this. Recent research in cooperation with our Chair Partner Gimv provides a nuanced picture of family companies and their attitude to private equity.

  3. Case study

    The Alfacam Group: impulsive growth and financial distress

    The Alfacam Group was a Belgian company that provided facilities and services for television and production companies between 1987 and 2013. This case portrays the turbulent history of Alfacam, beginning with its inception in 1987, its IPO in 2007 and the failed takeover attempt by Hinduja Group in 2013.

  4. The dos and don’ts of imitation

    There is no doubt that imitation is a typically human trait. From birth onwards, we learn by imitating. Imitation is also a key learning and decision-making mechanism in the world of business. There are a number of studies on imitation in business decisions with regard to investments, organisational structures or the location of branches, for example. However, the role of imitation in the choice of management control systems and supply chain partners has not yet been researched. Evelien Reusen’s PhD serves to remedy this.

  5. Stricter than the EU? Surely that’s not necessary?

    How do unlisted companies – starters and rapidly growing businesses – finance their growth? How are their potential transfers or buyouts financed? And what impact do financing choices have on their continued development? At the request of the Belgian Federal Science Policy Office, a team of researchers from a number of different universities has been examining these questions. Professor Sophie Manigart was the project leader. Below, she comments on the key results that emerged from the study.

  6. Conflict is not always bad. It’s not always good either.

    Research literature is awash with studies that describe how angel investors are involved in their portfolio ventures and the various value-adding roles they take on. But how the very nature of their involvement actually influences ventures’ performance, particularly their innovativeness, has so far not been addressed. This research paper examines how task conflicts between angel investors and entrepreneurs are related to the innovativeness of the portfolio companies in question and how this relationship is moderated by the level of agreement on priorities, diversity of entrepreneurial experience, and communication frequency.

  7. Closing the deal

    Why are some merger and acquisition (M&A) deals closed relatively quickly while others take much more time? The answer to this question is important, because prolonged deal duration is costly and postpones realising synergy gains.

  8. A helping hand from the government can be useful

    You sometimes hear people claim that “The government shouldn't get involved in the corporate world”. But is this actually the case? Until recently, Professor Sophie Manigart felt it was better for government bodies not to get involved in funding (young) companies. On behalf of the IWEPS, the Walloon Institute for Evaluation, Forecasting and Statistics, she carried out a comprehensive literature study into the funding of young and innovative companies and the potential role of the government in encouraging access to this funding. These days, she has a more nuanced opinion.

  9. Study by Vlerick and UGent shows the socioeconomic impact of ARKimedes in Flanders

    A socioeconomic impact study under the leadership of Professor Sophie Manigart shows the importance of further support for the Flemish venture capital industry and argues for the expansion of the ARKimedes scheme. Various parameters reveal that the ARKimedes scheme appears to have a significant impact on the Flemish venture economy.

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