Faculty of Economics and Business - University of Groningen

Every year, FEB's Bachelor of Economics and Business Economics hosts a career event with inspiring talks from alumni and other speakers from the working world. This year's edition took place last week, on Wednesday 27 November. Assistant Professor and Programme Coordinator David Peng, Ph.D. opened the event, after which Bloomberg-Londen Chief Economist Jamie Rush provided a macroeconomic perspective on current geopolitics and the resulting global economic outlook. Bloomberg's Talent Acquisition team then gave our students advice on how to find a job in finance and economics. The final speaker was FEB alumnus Miguel Sousa, who spoke about his International Risk Traineeship at ING Bank. The afternoon ended with networking drinks. All in all, it was a very fruitful event for our students in their preparation for the job market!

📣 🎤 On Friday the 6th of December, Professor of Digital Marketing Edlira Shehu will deliver her inaugural lecture on Data, AI and the Evolution of Digital Marketing. In her inaugural lecture, Shehu explores the evolving landscape of digital marketing. Highlighting key milestones such as the rise of e-commerce, digital advertising, and the integration of artificial intelligence (AI), she will provide insights into how digital marketing has adapted to technological advancements, changing consumer behaviors, and new opportunities. In the lecture, Shehu traces the exponential growth of data, from 1.5 exabytes annually in the early 2000s to 2.5 quintillion bytes daily today. This unprecedented data boom has transformed the digital marketing field. Research in the field has mirrored these technological developments, evolving from early studies on email marketing and website usability to topics like social media, e-tailing, and AI-driven machine learning. Shehu focuses on digital retailing and digital advertising, and her own work within these fields. She discusses the dual role of e-commerce as a convenient distribution channel and a source of challenges, particularly product returns. Research demonstrates that tools such as free shipping promotions, while driving sales, can increase return rates, particularly for high-risk products like fashion. These returns impact both profitability and the environment, with each return generating 0.5–1 kg of CO₂. In her lecture, Shehu also addresses digital advertising, focusing on three critical areas: ad placement, budget allocation across channels, and the creative aspects of ad content. Programmatic advertising, which uses algorithms to target audiences, offers cost efficiencies but risks brand safety in low-quality environments. Research also highlights the increasing complexity of budget allocation across multiple advertising channels and the importance of tailoring content to platforms such as social media to improve engagement. AI further enhances digital advertising by enabling granular and scalable analysis of unstructured data, such as video and image content, to optimize campaign performance. Looking ahead, the lecture concludes with Shehu’s future research agenda. She aims to explore the integration of AI into marketing models, particularly how AI can capture previously unmeasured content aspects and improve decision-making. Her research will also investigate the perception of AI-generated ad content. Finally, Shehu emphasizes the societal role of research in nonprofit marketing. Her work will focus on using AI and marketing analytics to enhance donor communication, optimize resource allocation, and develop long-term strategies for effective charitable campaigns. 🕓 Edlira Shehu’s inaugural lecture will take place on Friday 6 December 2024, 16:15 - 17:00, in the aula of the Academy Building. Livestream on 6 December, see: www.rug.nl/digitale-oratie

📣 🎓 This week, Thursday 5 December, Xin Tian will defend her PhD thesis on the global financial cycle. The global financial cycle implies the co-movement of financial market prices and capital flows across countries. Due to the existence of the global financial cycle, even countries with flexible exchange rates are not immune to monetary shocks from major financial centers like the U.S. This phenomenon fuels the debate about trilemma versus dilemma in international finance. 🔎 In her thesis, Tian explores this controversy and examines the existence and effects of the global financial cycle on national financial markets. In chapter 2, she constructs both a joint global financial cycle and asset-specific global financial cycles using dynamic factor models. She then compares these measures with other proxies, finding significant co-movement between her measures and two literature-based proxies, but not with the VIX index. In chapter 3, Tian investigates whether and how BRICS countries have shifted from a trilemma to a dilemma. She finds that a flexible exchange rate regime and capital controls play crucial roles in mitigating the impact of global shocks, supporting the trilemma theory. In chapter 4, Tian examines the spatial dependence of national financial cycles across countries by incorporating two perspectives: a global perspective, where global common factors influence financial fluctuations across all countries, and a linkage perspective, where inter-country connections, such as trade or capital flows, create interdependencies. In chapter 5, as a case study, she examines the time-varying relationship between aggregated and dis-aggregated capital flows and GDP growth in China, illustrating the extent to which restrictions on capital flows can help countries mitigate the influence of the global financial cycle. #PhdResearch #GlobalFinancialCycle #MonetaryShocks #CapitalFlows

👏 Join us in congratulating Feicheng Wang, who has received a grant of € 50,000 from the NWO (Dutch Research Council) for a project titled “Balancing Security and Prosperity: What Are the Economic Impacts of the New Dutch Investment Controls”. 🔎Feicheng Wang’s project will provide the first comprehensive analysis of the economic impacts of the newly introduced investment screening mechanisms (ISMs) in the Netherlands by collecting novel data and employing state-of-the-art methods. As geopolitical tensions escalate, nations increasingly scrutinize foreign investments for national security risks. In response, the Netherlands has recently introduced stricter ISMs - under which foreign investors are required to gain approval from national authorities for making investments in security-sensitive sectors - to safeguard critical infrastructure and technologies. However, these measures may deter foreign investments and negatively affect the economy. The project’s findings will shed light on the trade-offs between security and prosperity and provide policymakers with crucial insights to optimize investment policies. Wang’s project will answer two specific research questions: what the costs and benefits are of the ISMs for the Dutch economy and whether newly invested firms perform differently with these policies. The project focuses on the Netherlands as a pilot study, with the goal of expanding it to a larger project that will cover all EU and OECD states and forming the basis for a new line of research. Collecting data on the ISMs requires careful reading of official documents and online resources, along with manual coding to identify affected sectors and detailed screening criteria. Wang will make the detailed data collection process and the resulting data publicly available, aiming to foster collaborative efforts to ultimately build a cross-country database. Wang is very pleased to receive the grant and excited to get started on the project. “The grant will enable me to explore the economic consequences of investment screening mechanisms in the Netherlands and potentially expand the analysis to a broader context. The development of this project was made possible thanks to the invaluable support from my colleagues. I really appreciate the supportive and encouraging environment at the Faculty of Economics and Business. Now I am looking forward to starting the project in January 2025 and sharing the findings with academics, policymakers, and practitioners.” #ResearchGrant #InvestmentScreeningMechanisms #InvestmentPolicies

📣 Attention to all FEB alumni! We are delighted to invite you to the first Klaas Knot Lecture hosted by Klaas Knot, President of De Nederlandsche Bank, and the FEB Alumni Network foundation of the Faculty of Economics and Business - University of Groningen, on January 31, 2025, at the newly renovated headquarters of De Nederlandsche Bank in Amsterdam. The event presents a unique opportunity to reconnect with fellow alumni, engage in stimulating discussions, and hear directly from Klaas Knot in an open lecture on economics, policy, and his journey from student to one of the Netherlands' leading economic figures. Klaas will share personal insights from his career, reflecting on how his time at the University of Groningen shaped his approach to policy and the global economy. Don’t miss out on this unique event – it’s a great chance to hear from one of the country’s leading figures in economics and reconnect with the University of Groningen. Spaces are limited, so be sure to register early to secure your spot at this exclusive event. You can register easily via EventBrite: https://lnkd.in/gEQnkgHj 𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐊𝐥𝐚𝐚𝐬 𝐊𝐧𝐨𝐭 𝐋𝐞𝐜𝐭𝐮𝐫𝐞  The "Klaas Knot Lecture Series" will be held annually and aims to explore significant topics related to economic policy. Each year, the series will honor an alumnus of the Faculty for their contributions to society and their continued engagement with the Faculty. The series will feature in-depth reflections by the invited speakers, allowing them to share their expertise, career insights, and broader perspectives on the evolving landscape of economic and public policy. Klaas Knot is the first alumnus to be recognized through this year's lecture series. Professor of International Economics and Business Harry Garretsen will give a brief introduction, while Sandra Phlippen, Professor of Economics at our faculty and Chief Economist at ABN AMRO, will moderate the lecture and Q&A session with Klaas Knot, reflecting on his personal experiences and how they relate to the knowledge he gained during his studies. Find more details on the event below.

👏 Join us in congratulating Professor Gerard van den Berg, who has been appointed as member of the Academia Europaea, the European Academy for Sciences, Humanities and Letters. Just as national academies do, the European Academy aims to promote research, to advise governments and international organizations in scientific matters, and to advance on interdisciplinary and international research. Membership is by invitation only and implies a great recognition of one’s academic work. Gerard van den Berg is Professor at the Faculty of Economics and Business since 2019. After graduating as a university student in Groningen, he spent many years working elsewhere: at the Vrije Universiteit Amsterdam, where he became a professor at the age of 34, and subsequently in Germany, the UK, America, and Sweden. Van den Berg is known as a leading international econometrician and labor and health economist who combines analytical depth with societal relevance. Van den Berg has become a member of the section Economics, Business and Management Sciences of the Academia Europaea, as the only researcher from Groningen. The Academia is the European-level equivalent of the KNAW - Koninklijke Nederlandse Akademie van Wetenschappen (Royal Netherlands Academy of Arts and Sciences) of which he is also a member. #AcademiaEuropaea #ConnectingforImpact #HealthEconomics #AdvancingScience

👏 🏆 Join us in congratulating Lars Beute, who has won the Johan de Witt thesis award for his Master’s thesis "Portfolio Allocation under Market Uncertainty: an Application of Multi-Stage Stochastic Mixed-Integer Models". The prize, which is presented annually by the Royal Dutch Actuarial Association (Koninklijk Actuarieel Genootschap, AG), rewards innovative research that contributes to the application of new techniques in and the advancement of actuarial science. Lars Beute recently obtained his Master’s degree in Econometrics, Operations Research and Actuarial Studies at FEB. His award-winning thesis was supervised by Professor Ward Romeijnders and co-assessed by Assistant Professor Ki Wai Chau and is a valuable contribution to portfolio allocation. By applying stochastic optimalization and advanced ‘solvers’, Beute develops portfolio’s that generate similar returns to the Dow Jones index but are less risky. This makes his work particularly relevant to actuarial practice. Beute is grateful for the prize and the opportunities and tools his studies at FEB have given him. “The BSc in Econometrics & Operations Research and the MSc in Econometrics, Operations Research, and Actuarial Studies at FEB equipped me with an incredible set of tools to tackle complex financial and actuarial challenges. Applying these concepts in a real-world context for my thesis allowed me to see the practical impact of what we studied, which has been both rewarding and eye-opening. I am certain that this toolset will remain incredibly useful in my future career!" This year, the jury of the Johan de Witt thesis award received seven impressive theses from students from various universities in the Netherlands and Belgium, of which they announced Beute the winner. The diverse topics, from portfolio selection and mortality projections to pension taxation and flood sensitivity, highlight the versatility and relevance of the actuarial profession. The jury appreciates Beute's thesis for the innovative bridge it builds between operations research and actuarial science. According to the jury, his work shows how techniques from other disciplines enrich the actuarial field. Beute received the award, along with a cash prize of € 5000, during the annual fall conference of the Royal Dutch Actuarial Association in Bussum. Photo: Jacques Kok #ThesisPrize #Econometrics #OperationsResearch #ActuarialStudies

📣🎓 Next week, Thursday 21 November, Robin Konietzny will defend his PhD thesis on workers' responses to increasing import exposure and the implications of increasing import exposure for workers' well-being. 🚛 🌐 How do individual workers adapt to the challenges posed by modern trade, and how does this affect their well-being?In his thesis, Konietzny examines the impact of increased import exposure on job security, wages, and adaptation strategies among workers in Germany and the United States. He explores the differences between competition-increasing imports, which can potentially replace domestic jobs, and productivity-enhancing imports, which support domestic production. Additionally, Konietzny offers new insights into how trade exposure can be measured at the occupational level to account for the specialization patterns prevalent in global value chains. 💡 🔎 The empirical findings reveal that competition-increasing imports tend to create greater job insecurity, particularly among workers in routine occupations, reflecting concerns about globalization’s impact on employment. In contrast, productivity-enhancing imports can improve job security for highly skilled and supervisory workers, as they contribute to greater productivity. Konietzny also shows that some workers facing pronounced import competition adapt by relocating or changing jobs, leading to better employment opportunities and wage improvements. By highlighting the varied experiences of individual workers, Konietzny provides a deeper understanding of the interplay between trade, labor markets, and workers’ adaptation strategies. Furthermore, he advocates for using more disaggregated exposure measures that account for the crucial role of a worker’s occupation. Finally, he emphasizes the need for policies that support regional and job mobility, as well as skill development, to ensure that the benefits of trade are more equitably distributed. You can request the complete dissertation online: https://lnkd.in/e5bgt-ib

📣 🎓 Next week, Monday 18 November, Karen Van Tu will defend her PhD thesis on signals, shortfalls and organizations' processing of informal cues to guide strategic behaviors. How organizations process informational cues to guide their strategic behaviors has been an important question in strategy and organization theory research. These cues can be in the form of stakeholder-generated cues (signals), or self-generated cues (performance feedback). Van Tu's dissertation contributes to this line of research by taking the role of cognitively capable organizations as a starting point and examining the relationships between informational cues and organizations’ strategic decisions through three empirical essays. 🔎 💡In the first essay, Van Tu investigates which signals receiving organizations rely on when evaluating other - signaling - organizations based on multiple, interdependent attributes. Her findings show that receiving organizations focus on combinatory signals, defined as a signal embedding a complete set of attributes of a signaling organization that are relevant to receiving organizations. Receiving organizations evaluate signaling organizations emitting such signals positively. 🎯 In the second essay, Van Tu examines the relationship between a performance-aspiration gap and organizations’ solution search intensity. Zooming into performance in the vicinity of aspirations, She argues and shows that a small performance-aspiration gap prompts organizations to perceive closing this gap as easily achievable, and this achievability subsequently motivates them to intensify search. In the third essay, Van Tu studies organizations’ prioritization of multiple performance shortfalls on goals without a predetermined order of importance. She suggests that a non-predetermined order triggers organizations’ orientation towards gains, prompting them to prioritize the smaller performance shortfall to secure gains. Her findings show that the presence of a smaller shortfall on another goal weakens the relationship between performance shortfall and change on a focal goal. You can find the complete dissertation online: https://lnkd.in/eRd3prru #PhDResearch #StrategicBehavior #OrganizationTheory #FirmPerformance

🌍 🍃 The Department of Innovation Management & Strategy of the Faculty of Economics and Business looks back at a successful Sustainability Summit. The event, held on 24 October, kicked off with a panel discussion with six distinguished alumni in sustainability-related roles: Carolin J. van de Wint, Martijn Bakker, Bert Kramer, Alfred Middelkamp and Sophie Wilbrink. 💬 The panel discussion addressed different topics such as pressing sustainability issues, the role of genAI for a sustainable future, daily work and skills, and career development. The alumni were asked about the role of governments, and they acknowledged the need for a coherent set of government policies and a consistent approach to dealing with sustainable development. The role of AI in various sectors was also explored, emphasizing how technological advancements can significantly enhance tracking of energy usage and grid management, despite the challenges they may present. The panelists highlighted the importance of critical analysis as an essential skill in consultancy, as it enables professionals to evaluate sustainability initiatives effectively. The alumni encouraged students to engage with sustainability concepts early in their academic journey and recommended seeking practical experiences to better prepare for future roles. 🎤 After the panel discussion, it was time for board-room style presentations by student teams. The teams had each chosen a company for which to present the sustainability strategy and they presented these strategies to the alumni, who stepped in as board members, during the Sustainability Summit. The alumni assessed the students’ performances and provided feedback. The student team consisting of Daphne Hengeveld, Fionn Jones, Charlotte Riemersma and Suzanne Schotman gave the winning presentation, on the sustainability strategy of the Lidl. 👏 The Sustainability Summit is part of FEB’s focus area on Future Prosperity and Sustainability and the MSc Business Administration. The course coordinator is Bjoern Mitzinneck and the other lecturers involved are Katrin Heucher, Marjolein van Offenbeek and Chengyong Xiao. Margarita O. Ortiz organized the summit. 🙏 Thanks to all involved for making it a success: all lecturers, alumni panel members and Susanne Klinkers from our alumni office. #ConnectingForImpact #Sustainability #FutureProsperity #AlumniEngagement