TILBURG SCHOOL OF ECONOMICS AND MANAGEMENT AND ECONOMICS OF SCHOOL TILBURG ANNUAL PORTRAIT 2009 PORTRAIT ANNUAL 2009 Annual Portrait tilburg school of economics and management Understanding Society Annual Portrait 2009 tilburg school of economics and management tilburg university As from fall 2009 the Faculty of Economics and Business Administration is called Tilburg School of Economics and Management Contents 1. Foreword by Kees Koedijk 4 Giving meaning to science 2. Management Team 6 What ‘Understanding Society’ means to us 3. Research 12 Strengthening the link with society 4. Current societal issues 16 5. Education 30 The sum of good research and excellent teachers 6. Highlights 36 Review 2009 per month 7. Appendices 49 Facts and figures, publications, dissertations, awards and more annual portrait 2009 | 3 4 | tilburg school of economics and management foreword Giving meaning to science Before you is the 2009 Review of our school, an impression of The crisis also exposes failures of economic science: with an exciting and momentous year – a year that saw the financial monodisciplinary approaches and numerical models, it crisis reach its peak. We will be experiencing its aftereffects for appeared we were not sufficiently able to understand the some time to come. I therefore find the landscape photographs practical situation. We will have to improve our approach to in this document especially apt: beneath the beautiful surface complex problems from various angles. That is also why I of Iceland lurks a primal force known only to specialists – until believe that it is the duty of our school to give greater meaning the volcano erupted and the plume of ash gave us all a rude to our motto ‘Understanding Society’, by conducting excellent awakening. I find this an excellent analogy of the current research and using these new insights to bring about change in financial situation. society. Consumers, bank administrators, overseers, politicians: all of The 2009 Review contains six themes that we deploy in order them played a prominent part in the lead up to the crisis. What to strengthen our connection with society. Colleagues Thorsten the crisis has shown is that people cannot do without a moral Beck, Willem-Jan van den Heuvel, Eric van Damme, Bart compass. Economy is therefore a social science: what values Bronnenberg, Lans Bovenberg and Hilde Baert talk passionately do people hold; how do people determine choices, and what about ‘their’ field. It illustrates perfectly how our school gives consequences do these choices have for others? Our school has a meaning to science, students and society; something of which duty in this. By equipping our students with the knowledge and I am very proud. I hope the contributions in this report will be skills to become responsible professionals, we can strengthen inspiring to you as well! society. Kees Koedijk Dean of Tilburg School of Economics and Management annual portrait 2009 | 5 Management Team What ‘Understanding Society’ means to us 6 | tilburg school of economics and management management team “We want people to say about our students ‘They must be from Tilburg’” “A s Vice Dean of Education I enjoy the best of both worlds: I In addition, socially relevant themes such as ethical living am involved with research, which satisfies my innate curiosity, and working will play important roles in several educational and I get to share my knowledge with others, giving people programmes. As a result of the financial crisis this issue is high enthusiasm for science. To Understand Society one must on the agendas of governments and the financial sector. By continuously interact with people in order to get a feeling for the delivering students with the qualities society demands we give opinions and ideas that are present beneath the surface. I believe shape to the slogan ‘Understanding Society’. this helps to keep scientists out of their ivory towers. My dream is that our students will be so outstanding in the In 2009 we deepened the relationship between research and labour market, that employers will say ‘This one must be from education, to ensure our education activities benefit from our Tilburg University!’” research success. In planning to meet this goal we decided to train our students in research skills during their first year of study. This should make the courses more interesting, broaden the students’ capacities and give them an advantage in the labour market. Knowledge might get lost over the years, but skills, once developed, serve you well your whole life long. Jenke ter Horst Professor of Finance and Vice Dean Education annual portrait 2009 | 7 management team “Nothing is as practical as a good theory” “We teach our students what Kurt Lewin – founder of modern makers and administrators to address current societal topics. social psychology – said “Nothing is as practical as a good In addition, members of our school are often invited to provide theory”. expert comment to the government and the media. Our school has a strong research climate, evidenced by our All our research fits perfectly in the university’s slogan growing number of high-impact publications in the top journals ‘Understanding Society’. Personally, I would like to go beyond and strong positions on international rankings. We use this firm understanding, and contribute to improving society. Last years foundation in order to make a relevant contribution to major for example, I worked on a project on dike height optimisation. societal issues. One way we do so is to cluster our research This is an important issue in this low land and the results of our into thematically oriented centres, approaching issues from an research will most probably be embedded in Dutch law. It gives interdisciplinary angle where, for example, psychologists work me the feeling that my research really matters. together with economists. My faith in Jesus is my inspiration in my life. His love makes I think it is important to present our results to the public, me enjoy my work so much more.” therefore I am very pleased with initiatives such as the new research websites Econtrack and MeJudice. The Tilburg University Society seeks to connect with politicians, policy Dick den Hertog Professor8 | tilburg of school Operations of economics Research and managementVice Dean Research management team “Where ideas meet, elegant solutions arise” “My goal as Managing Director is to create an inspiring I am driven by curiosity. Every day I wonder why things are the environment for scientists and students. One way to do so is to way they are. There are so many questions still not answered. I offer the best facilities possible. wish to pass on this curiosity to my children so they will never 2009 has been a busy year. We built a new student service stop wondering about the world around them. I also want to centre offering student-related services in a much more leave my children a world worth living in and show them what prominent way than before. We have also updated the seminar they can do to accomplish this. This is why, for instance, I want rooms, not only for presentation purposes, but also with state- them to ride their bicycles to school, also when it rains, instead of-the-art technology that enables video recording of lectures of taking the car. The next step will be to teach them to switch off and interactive distance learning. The importance we place on the lights when they leave a room.” sustainable housing is reflected in our aim to reduce the carbon footprints of our buildings, using technologies such as motion- controlled energy-saving lights. The secret of success is to see opportunities and to exchange thoughts with others. Where ideas meet, elegant solutions arise. Pien Versteegh Managing Director annual portrait 2009 | 9 management team “Multicultural classes have a special dynamic” “We are living in an increasingly globalised world. As the The slogan ‘Understanding Society’ applies to me in two ways. majority of our graduates will be working in an international On the one hand, I am actively participating in the debate environment, in 2009 we began two new international on how we can restore financial stability through improved Bachelor’s programmes: International Business Administration regulation and supervision and so prevent another financial and Economics. crisis. On the other hand, understanding the enormous diversity In keeping with similar programmes elsewhere in the world, of cultures and perspectives that form society is what drives me courses are delivered in English, in a multicultural environment, and inspires me in my work.” with interaction between teachers and students actively encouraged. Multicultural classes have their very own dynamics. Although communication can be more challenging than in a less diverse group, it is often very exciting and very productive. Our focus now is to promote the new programmes internationally. This work is made much easier by Tilburg University’s high scores in international rankings. Harald Benink Professor10 | tilburg of Bankingschool of and economics Finance and Vicemanagement Dean Internationalisation management team “Students should develop themselves in a broad way” “It is an honour to be a member of the Management Team at truly student-centred remains key in the plans for 2010. With the Tilburg School of Economics and Management. I find it this goal in mind, I have made a proposal to intensify coaching inspiring to work with management team members who are of students, and for all the various student and faculty boards actively involved in politics. to meet more frequently. Although these groups have always I have always been interested in politics and the political game operated at different levels they actually share the same goals. that is played. Moreover, I find it interesting to analyse societal Efficiency would increase if they collaborated more closely.