HEC Paris or école des Hautes Etudes Commerciales de Paris is a European business school located in the southern suburbs of Paris, France. HEC is the business school of ParisTech and is considered as one of the most prominent business schools in the world. It has been ranked as the best business school in Europe seven times in the eight-year period between 2006 and 2013 in the Financial Times ranking. Among the most selective French grandes écoles, and traditionally seen as the most prestigious French business school, HEC offers its flagship Master in Management – Grande école program, MBA and EMBA programs, eleven specialized MSc programs, a PhD program, and many executive education offerings. It holds the Triple accreditation : AMBA, EQUIS, and AACSB. Wikipedia.
Srivastava S.,HEC School of Management |
Teo T.,National University of Singapore
Journal of Management Information Systems | Year: 2012
Although control theory has often been invoked to explain the coordination between client and vendor for information systems development (ISD), insights into its moderating effects for explicating ISD contract performance, especially in the offshore context, is rather limited. Such insights would enable better understanding of variables that have complementary or substitutive effects on performance. Further, the control literature talks about different control modes (e.g., formal and informal control modes classified as behavior, outcome, clan, and self-control modes) without adequately distinguishing among the different control mechanisms enacting each of the control modes. In this research, by explicitly classifying the distinctions that exist within each of the control modes, we uncover the key role played by mechanistic governance in outsourced ISD. Grounding our arguments in the information requirement for performance evaluation, the study theorizes the moderating influence of mechanistic governance on the relationships of contract specificity and relational governance with ISD quality and cost performance. We test the theorized model in a field study comprising 160 offshore ISD projects executed by Indian vendors. Our results establish the significant complementary role of mechanistic governance on the relationships of contract specificity with both cost and quality performance variables. Further, mechanistic governance substitutes the impact of relational governance on cost performance. Thus, the study theoretically as well as empirically establishes the need for conceptualizing mechanistic governance as a viable and significant governance mechanism for offshore ISD contracts. The study also teases out the distinctions between the two prime contract types in vogue for managing offshore ISD contracts, namely, fixed price and time and materials contracts. The study thus contributes not only to control theory but also to the stream of literature examining offshore ISD contracts. Further, the study provides insights to managers on having well-specified contracts and acknowledging the role of mechanistic governance for better performance. © 2012 M.E. Sharpe, Inc. All rights reserved.
Kanis J.A.,University of Sheffield |
McCloskey E.V.,University of Sheffield |
Johansson H.,University of Sheffield |
Cooper C.,University of Southampton |
And 2 more authors.
Osteoporosis International | Year: 2013
Guidance is provided in a European setting on the assessment and treatment of postmenopausal women at risk of fractures due to osteoporosis. Introduction: The International Osteoporosis Foundation and European Society for Clinical and Economic Aspects of Osteoporosis and Osteoarthritis published guidance for the diagnosis and management of osteoporosis in 2008. This manuscript updates these in a European setting. Methods: Systematic literature reviews. Results: The following areas are reviewed: the role of bone mineral density measurement for the diagnosis of osteoporosis and assessment of fracture risk, general and pharmacological management of osteoporosis, monitoring of treatment, assessment of fracture risk, case finding strategies, investigation of patients and health economics of treatment. Conclusions: A platform is provided on which specific guidelines can be developed for national use. © 2012 International Osteoporosis Foundation and National Osteoporosis Foundation.
Placido L.,HEC School of Management
Theory and Decision | Year: 2010
In a recent article, Machina (Am Econ Rev forthcoming, 2008) suggested choice problems in the spirit of Ellsberg (Q J Econ 75:643-669, 1961), which challenge tail-separability, an implication of Choquet expected utility (CEU), to a similar extent as the Ellsberg paradox challenged the sure-thing principle implied by subjective expected utility (SEU). We have tested choice behavior for bets on one of Machina's choice problems, the reflection example. Our results indicate that tail-separability is violated by a large majority of subjects (over 70% of the sample). These empirical findings complement the theoretical analysis of Machina (Am Econ Rev forthcoming, 2008) and, together, they confirm the need for new approaches in the analysis of ambiguity for decision making. © 2008 Springer Science+Business Media, LLC.
Asongu S.A.,HEC School of Management
European Journal of Health Economics | Year: 2014
This article examines three relevant hypotheses on the effect of health worker migration on human development and economic prosperity (at the macro- and microlevels) in Africa. Owing to the lack of relevant data on health human resource (HHR) migration for the continent, the subject matter has remained empirically void over the last decades despite the acute concern about health professional emigration. Using quantile regression, the following findings have been established. (1) The effect of HHR emigration is positive (negative) at low (high) levels of economic growth. (2) HHR emigration improves (mitigates) human development (GDP per capita growth) in low (high) quantiles of the distribution. (3) Specific differences in effects are found in top quantiles of human development and low quantiles of GDP per capita growth where the physician (nurse) emigration elasticities of development are positive (negative) and negative (positive), respectively. As a policy implication, blanket health-worker emigration control policies are unlikely to succeed across countries with different levels of human development and economic prosperity. Hence, the policies should be contingent on the prevailing levels of development and tailored differently across the most and least developed African countries. © Springer-Verlag 2013.
Hiligsmann M.,HEC School of Management |
Reginster J.-Y.,HEC School of Management
PharmacoEconomics | Year: 2011
Background: Denosumab has recently been shown to be well tolerated, to increase bone mineral density (BMD) and to significantly reduce the risk of hip, vertebral and non-vertebral fractures in the FREEDOM (Fracture REduction Evaluation of Denosumab in Osteoporosis every 6 Months) trial. It is becoming increasingly important to evaluate not only the therapeutic value of a new drug but also the cost effectiveness compared with the most relevant treatment alternatives. Objective: The objective of this study was to estimate the cost effectiveness of denosumab compared with oral bisphosphonates (branded and generic drugs) in the treatment of post-menopausal osteoporotic women in Belgium. Methods: Cost effectiveness of 3 years of treatment with denosumab was compared with branded risedronate and branded and generic alendronate using an updated version of a previously validated Markov microsimulation model. The model was populated with relevant cost, adherence and epidemiological data for Belgium from a payer perspective and the results were presented as costs per QALY gained (€, year 2009 values). Analyses were performed in populations (aged ≥60 years) in which osteoporosis medications are currently reimbursed in many European countries, i.e. those with BMD T-score of -2.5 or less or prevalent vertebral fracture. Patients receiving denosumab were assumed to have a 46% lower risk of discontinuation than those receiving oral bisphosphonates, and the effect of denosumab after treatment cessation was assumed to decline linearly to zero over a maximum of 1 year. Results: Denosumab was cost effective compared with all other therapies, assuming a willingness to pay of €40 000 per QALY gained. In particular, denosumab was found to be cost effective compared with branded alendronate and risedronate at a threshold value of €30 000 per QALY and denosumab was dominant (i.e. lower cost and greater effectiveness) compared with risedronate from the age of 70 years in women with a T-score of -2.5 or less and no prior fractures. The cost effectiveness of denosumab compared with generic alendronate was estimated at €38 514, €22 220 and €27 862 per QALY for women aged 60, 70 and 80 years, respectively, with T-scores of -2.5 or less. The equivalent values were €37 167, €19 718 and €19 638 per QALY for women with prevalent vertebral fractures. Conclusion: This study suggests, on the basis of currently available data, that denosumab is a cost-effective strategy compared with oral bisphosphonates (including generic alendronate) for the treatment of post-menopausal osteoporotic women, aged ≥60 years in Belgium. Denosumab therefore appears to have the potential to become a first-line treatment for post-menopausal women with osteoporosis. However, further studies would be required to evaluate the long-term safety and adherence of denosumab in real-world clinical practice as well as head-to-head effectiveness compared with oral bisphosphonates. © 2011 Adis Data Information BV. All rights reserved.
Bauwens T.,HEC School of Management
Energy Policy | Year: 2016
Community-based renewable energy initiatives may be important actors in the transition toward low-carbon energy systems. In turn, stimulating investments in renewable energy production at the community level requires a better understanding of investors' motives. This paper aims to study the heterogeneity of motivations that drive individuals to participate in community renewable energy projects and the underlying explanatory factors behind this, as well as the implications for their level of engagement in initiatives. Based on quantitative data from an original survey conducted with two renewable energy cooperatives in Flanders, the statistical analysis shows that cooperative members should not be considered as one homogeneous group. Several categories of members with different motives and levels of engagement can be distinguished. This heterogeneity is explained by contrasts in terms of institutional settings, spatial patterns and attitudes to the diffusion of institutional innovations. Regarding policy implications, the findings suggest that this heterogeneity should be taken into account in designing more effective supporting policies to stimulate investments at the community level. The activation of social norms is also shown to be a promising mechanism for triggering investment decisions, although the implications of its interplay with economic incentives should be further explored. © 2016 Elsevier Ltd.
Cheaitou A.,University of Sharjah |
Van Delft C.,HEC School of Management
International Journal of Production Economics | Year: 2013
We consider a class of multi-periodic non-stationary stochastic single-product inventory planning problems where two procurement modes can be used at each period: a first order with immediate delivery and a second order with a single-period delivery delay. Clearly, the slow delivery mode is less expensive than the fast. We develop a discounted backlog model, with non-stationary procurement, inventory holding and backlog penalty costs proportional to the ordered quantities, inventory levels and number of backlogged units respectively. The demands are defined as non-stationary and independent random variables. We partially characterize the optimal ordering policy structure and we develop theoretical bounds and heuristic approximations for this optimal policy. Efficiency of these approximations is illustrated via extensive numerical experiments. © 2012 Elsevier B.V. All rights reserved.
Srivastava S.C.,HEC School of Management
Transforming Government: People, Process and Policy | Year: 2011
Purpose: The purpose of this viewpoint is to provide a framework for future research on e-government impact. Design/methodology/approach: Using a concise review of major e-government studies, we present a value framework for assessing the impact of e-government. Specifically, we integrate the two stakeholder perspectives on e-government namely the "government" and the "citizen" and identify areas where e-government can provide returns. Findings: The model delineates three government and five citizen areas where e-government may create an impact. The three government areas are policy making, program administration, and compliance. The five citizen areas are financial, political, social, ideological, and stewardship. The impact in these areas is created because of two major value-generating mechanisms: enhancements in efficiency and enhancements in effectiveness. Further, the impact is created at different levels of analyses: local, state, and central governments. Originality/value: This viewpoint provides a timely discussion on returns from e-government and provides a value framework for assessing these returns. It also provides several suggestions for future research in this area. This viewpoint is a call for systematic future research on the impact of e-government. © Emerald Group Publishing Limited.
Faraz A.,HEC School of Management |
Saniga E.,University of Delaware
Quality and Reliability Engineering International | Year: 2013
Control charts are the primary tools of statistical process control. These charts may be designed by using a simple rule suggested by Shewhart, a statistical criterion, an economic criterion, or a joint economic statistical criterion. Each method has its strengths and weaknesses. One weakness of the methods of design listed is their lack of flexibility and adaptability, a primary objective of practical mathematical models. In this article, we explore multiobjective models as an alternative for the methods listed. These provide a set of optimal solutions rather than a single optimal solution and thus allow the user to tailor their solution to the temporal imperative of a specific industrial situation. We present a solution to a well-known industrial problem and compare optimal multiobjective designs with economic designs, statistical designs, economic statistical designs, and heuristic designs. Copyright © 2012 John Wiley & Sons, Ltd. Copyright © 2012 John Wiley & Sons, Ltd.
News Article | December 19, 2016
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Biogen (NASDAQ: BIIB) today announced that its Board of Directors has appointed Michel Vounatsos as Chief Executive Officer and member of the Board of Directors, effective January 6, 2017. Vounatsos previously held the position of Executive Vice President and Chief Commercial Officer at Biogen. Mr. Vounatsos succeeds George A. Scangos, Ph.D., who has led the company since 2010 and had previously announced that he would step down once a successor was found. Vounatsos joined Biogen in April 2016 after a 20 year career at Merck. While at Merck, he held leadership positions of increasing responsibility in Europe, China, and the U.S., driving significant and consistent growth across multiple geographies. Since joining Biogen, Mr. Vounatsos has demonstrated his extensive global biopharmaceutical experience and track record of innovative stakeholder engagement in his leadership of the company’s commercial organization. He has implemented key initiatives to extend the company’s industry leadership in multiple sclerosis, expanded Biogen’s reach in key global markets, and effectively prepared for the introduction of breakthrough treatments for patients in areas of high unmet need. “ Biogen is focused on creating shareholder value by advancing cutting-edge science to address some of the greatest challenges in medicine. In seeking our next chief executive, the board sought a leader with a record in building commercial operations and a passion for science,” said Chairman of the Biogen Board of Directors Stelios Papadopoulos, Ph.D. “ It was clear to us through a rigorous search process that Michel is that leader who can guide Biogen in the next phase of its evolution.” “ It is an honor to be asked to lead this great company, one that has played such an important role in transforming the treatment of multiple sclerosis for patients globally,” said Mr. Vounatsos. “ I am excited to build upon Biogen’s legacy, as we pursue innovative new therapies for those suffering from serious neurologic and neurodegenerative diseases and create value for shareholders by maintaining a clear focus on what is best for patients.” “Our near-term priorities are clear,” Vounatsos continued. “ We intend to gain approval for SPINRAZA to provide the first treatment for spinal muscular atrophy; continue to grow our global MS franchise; fully enroll our phase 3 trials for aducanumab as we advance our lead candidate in Alzheimer’s disease; reinvigorate our pipeline in the areas of neurology and neuro-repair; and invest in our employees as we work together to define our future.” Mr. Vounatsos brings to the role of chief executive a background in both medicine and business. He attended the Université Victor Segalen, Bordeaux II, in France, where he received his C.S.C.T. certificate in Medicine; subsequently, he graduated with an MBA from the HEC School of Management in Paris. " Michel is an outstanding leader who we believe is the best choice to create value for shareholders," said Alex J. Denner, Ph.D., chairman of the CEO Search Committee and the Corporate Governance Committee of Biogen’s Board of Directors. " The Board conducted a comprehensive search process that attracted many high-caliber candidates. We focused on choosing a CEO who would best serve shareholders by emphasizing the key drivers of value creation at Biogen: operational execution and capital allocation. Michel is a stellar manager with a track record of operational success and an aptitude for capital allocation. We believe that he will successfully execute on our current operations and optimize the allocation of the significant cash flows that we generate.” “ Michel is an inspiring leader who cares deeply for patients and our employees; he has a clear understanding of what is needed to drive our business forward,” added Dr. Scangos. “ Michel is deeply committed to Biogen’s mission, our values, and our great research and science. Importantly, he brings a background in both medicine and business, along with a global perspective and keen focus on execution that will serve this company well as Biogen transitions into its next stage of growth and innovation.” Conference Call and Webcast The Company will host a conference call related to this press release that will be broadcast via the internet at 8:30 a.m. EST on Tuesday, December 20, 2016, and will be accessible through the Investors section of Biogen’s homepage, www.biogen.com. About Biogen Through cutting-edge science and medicine, Biogen discovers, develops and delivers worldwide innovative therapies for people living with serious neurological, autoimmune and rare diseases. Founded in 1978, Biogen is one of the world’s oldest independent biotechnology companies and patients worldwide benefit from its leading multiple sclerosis and innovative hemophilia therapies. For more information, please visit www.biogen.com. Follow us on Twitter. Safe Harbor This press release contains forward-looking statements, including statements relating to: Biogen’s commercial business, pipeline programs, clinical trials and programs. These forward-looking statements may be accompanied by such words as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “target,” “will” and other words and terms of similar meaning. You should not place undue reliance on these statements. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including: risks relating to management and key personnel changes, failure to compete effectively; difficulties in obtaining and maintaining adequate coverage, pricing and reimbursement for our products; potential future healthcare reforms; the occurrence of adverse safety events; failure to protect and enforce our data, intellectual property and other proprietary rights; uncertainty of success in developing, licensing or acquiring other product candidates or additional indications for existing products; delay in approval of our drug candidates; and other risks and uncertainties that are described in the Risk Factors section of our most recent annual or quarterly report and in other reports we have filed with the SEC. These statements are based on our current beliefs and expectations and speak only as of the date of this press release. We do not undertake any obligation to publicly update any forward-looking statements.