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This paper aims to contribute to understanding the crucial influence of risks on the capital structure of project financing (PF) initiatives in the energy sector.

The debt leverage of a capital investment is selected as the response variable, and its relation with select identified risk factors is examined using a regression analysis on a data set of 72 projects carried out all over the world in the energy industry.

Results have highlighted that the debt leverage is significantly influenced by several sources of risk measured through specific indicators, namely, country stability index, the construction duration, the concession period and the average size of partners. Therefore, country, project and special purpose vehicle-related risks have been shown to have an impact on the debt leverage of a PF scheme.

The results could support both investors and lenders to better define the financial leverage of projects delivered under a PF mechanism. In particular, the study could help to have a better understanding of the main factors that influence the debt leverage in PF initiatives.

This paper contributes to filling the lack of works addressing the relationship between risk factors and capital structure in PF projects. In this way, this research leads to a better understanding of the risk factors that influence the capital structure of a PF initiative, and they have, therefore, been proposed as a basis for the establishment of improved methods to design refined capital structures.

The purpose of this paper is to contribute to the understanding of the crucial influence of risks on the capital structure of build-operate-transfer (BOT) projects.

The equity portion of capital injected in a BOT investment is selected as the response variable and its relation with select identified risk factors is examined using a regression analysis on a data set of BOT projects.

Results have pointed out that the level of equity is significantly influenced by several sources of risk. Country, revenue, project and special purpose vehicle-related risks have been shown to have an impact on the size of the equity share of a BOT investment.

The results could support both investors and lenders to better define the financial leverage of BOT projects. In particular, the study could help to have a better understanding of the main factors that influence the equity apportion of capital in BOT investments.

This paper contributes to fulfilling the lack of works addressing the relationship between risk factors and capital structure in BOT projects. In this way, this research leads to a better understanding of the risk factors that influence the capital structure of BOT project and they have therefore been proposed as a base for the establishment of improved methods to design refined capital structures in BOT projects.

The purpose of this paper is to study mobile services for supply chain management (SCM) in the electronic grocery (e-grocery) sector. The authors investigate their diffusion and formulate policies in order to stimulate the adoption.

A System Dynamics model is proposed for a short fresh food supply chain (SC). The model predicts how product traceability, mobile payment, and time-based delivery management functionalities contribute to the adoption of a SCM mobile application.

The three services drive the diffusion of the application. A high level of real time information brings decreased inventory levels and more frequent order placing, leading to an increased number of logistics transactions managed by the mobile application and growth in the associated revenue for the service provider company.

The proposed study fosters research on overcoming the barriers that prevent integration, collaboration, and better visibility in e-grocery SCs.

This work constitutes a roadmap to identify the key enabling factors of e-grocery expansion.

This is one of the few contributions focussing on increasing the efficiency of e-grocery SCs by applying management strategies supported by mobile devices.

Via embracing the idea that one who directly experiences a problem is keener to develop more innovative solutions, local governments have started to engage smart communities in the innovation of public services’ delivery. Even if the meaning of “smart community” generally refers to the community participation in the innovation of public services for urban living, local governments have predominantly stimulated the participation of their citizens. But innovative ideas can potentially spring out also from the insiders. The purpose of this paper is to find the managerial and technological issues that public managers have to consider when planning an internal smart community initiative.

For this purpose, the authors analyse the case study of the Municipality of Turin that developed a participatory smart community project named Innova.TO, through the theoretical lens of sensemaking (Weick, 1979; Weick et al., 2005).

Results show that there are three main aspects to be considered when implementing smart community initiatives in local governments.

Even if there is the potential, the engagement of public employees in a smart community of innovators is not straightforward, and several complexities may challenge its success. Moreover, real-life examples and empirical studies are still episodic. As a consequence, if it is concretely possible to build a smart community of innovators inside a local government still remains a question, to which this paper aims to respond.

Global crises have become increasingly recurrent events that jeopardize public-private partnerships (PPPs). In this context, the purpose of this paper is to expose the PPP-crisis research agenda by combining bibliometric and network analyses.

The PPP literature associated with global crises between the 2008 global financial crisis and 2022 was analyzed in three stages: (1) paper selection and screening for the inclusion/exclusion of articles relevant to this research, (2) semantic network development for examining thematic relationships among selected papers by considering the co-occurrence of keywords within the chosen studies and (3) calculation of network metrics for analysis.

The paper identified six research avenues for the PPP-crisis agenda: public interest, relational governance, risk management, user-pay PPPs, crisis management and financial performance. The PPP-crisis literature has spread significantly in the last five years driven by the case study approaches on a national or regional basis. Conversely, non-crisis periods generate room to strengthen user-pay PPPs and relational governance. The pandemic and post-pandemic times shared the priorities of the 2008 financial crisis but also strengthened the management of the risks and the structural drivers of the global crisis.

This study demonstrates that during global crisis periods, the public interest and financial performance gain relevance in a detriment of structural solutions to social legitimacy erosion of PPPs because of the urgency of giving tools to the public and private sectors to tackle the financial issues, which steer future issues for PPPs.

Using a sample of US firms more likely to be affected by agency problems, the purpose of this paper is to investigate the relationship between corporate value and financial policies and to study whether credit market freedom (CMF) affects this relationship.

The authors identify a sub-sample of non-financial US firms potentially affected by agency problems using a joint criterion of over-investment and high cash-holdings. A generalized method of moment econometric framework is then used to estimate the impact of cash-holdings and leverage policies on firm value for this sub-sample. This exercise is also performed by taking into account the level of CMF of the state where the firm operates.

The results show that the relationship between cash-holdings – or leverage – and firm value is “U-shaped.” In addition, when the authors focus on the role played by the level of CMF, the authors find a number of interesting facts: CMF facilitates the firms’ access to external finance, thereby relaxing the need of internal funds for investing; the relationship between cash-holdings and firm value is “U-shaped” only in states enjoying high levels of CMF; the probability of observing firms more likely to be affected by agency problems is higher in states with high levels of CMF.

The empirical findings provide important insights to policymakers, shareholders and practitioners. To policymakers, the results suggest that providing institutional environments with greater CMF can enhance the firm access to external finance, the level of corporate investment and the economic growth. To shareholders, the findings highlight that the conflicts of interest between managers and shareholders may be more severe in states with higher CMF; therefore, adequate financing policies and corporate governance mechanisms must be used to mitigate these conflicts and maximize the firm value. Finally, to practitioners, the evidence suggests that, in valuing a firm, they must take into consideration whether the economic environment provides managers with more freedom to stockpile cash and invest sub-optimally.

The paper contributes to the corporate finance and governance literature in two respects. First, it provides new evidence on the shape of the relationship between cash holdings and firm value for firms affected by empire-building managers. Second, at the best of the knowledge, it is the first corporate finance study, which analyzes the role played by the CMF at the state level on the capital structure and the level of investment of the firms.

The purpose of this paper is to prove that maintenance cost of warehouses is correlated to the performance of the logistic business, together with other relevant operational factors.

The relationships between indicators of logistic service level performance are examined using a linear regression analysis of a dataset collected from a number of distribution facilities operated by a leading global freight provider throughout Italy.

Expenditures in building maintenance contribute to improve the punctuality of deliveries with resulting improved quality of customer service.

Further research may gainfully generalise the model by examining other geographical areas and longer observation periods.

It is suggested that logistic buildings have to be maintained not only to preserve the functional and economic value of the asset, but also to strengthen the competitive advantage of the logistic business.

The business performance is very likely to be influenced not only by variables related to the business process, but also by non‐operational factors, such as warehouse building performance.

The purpose of this paper is to contribute to the diffusion of earned value management (EVM) as a practicable methodology to monitor facility construction and renovation projects in the context of the European industry.

First, a review of the literature reveals how EVM evolved as a tool for facility construction project monitoring together with specific concerns for its application. Then, a review of EVM practice and trends in Europe is provided and finally, applicability and viability of the method is proved through a case demonstration.

EVM practice in the European construction industry is found to be lagging behind other experienced countries and industries, despite EVM having been found to be applicable, adaptable, and predictive of integrated final cost and schedule of facility construction projects. In particular, cost estimate at completion is forecasted by a simple cost performance index (CPI), while for the time estimate at completion, the earned schedule concept is revealed as an accurate predictor.

The paper urges the need for research of a European standard as a primary factor for successful diffusion of EVM usage in architecture, engineering and construction projects.

This paper helps practitioners to understand the adaptability of EVM practice in the European construction industry and to apply EV tools for effective monitoring of the performance of their projects.

Current trends of EVM practice in the European construction context are presented and suggestions for sustaining the diffusion of EVM are given.

The purpose of this paper is to suggest the usage of the project finance (PF) scheme as a suitable mechanism to fund energy efficiency projects at the urban scale and present its advantages and adoption barriers.

A case study is developed to renew the traffic lighting system of an Italian town via replacement of the old lamps with new light-emitting diode (LED) technology. Several partners are involved in the case project to construct a viable PF arrangement.

The case study presents the viability of the proposed PF scheme that provides for acceptable financial returns and bankability. However, it also shows that the need for short concession periods may call for a public contribution to the initial funding to make the project more attractive to private investors.

This case study is a useful guideline for governments and promoters to using the PF arrangement to fund energy efficiency investments in urban settings. It helps designing an appropriate PF scheme and understanding the advantages of PF to reduce risk and, consequently, increase the debt leverage and profitability of energy efficiency projects.

This paper contributes to bridging the gap about the lack of works addressing the implementation of the PF mechanism in the energy efficiency sector in urban areas. The importance of this paper is also associated with the shortage of traditional public finance faced by many cities that forces to seek for alternate forms of financing.

The purpose of this paper is to provide a literature review on the different ways of carrying out facility management and related topics in order to uncover that there is limited research regarding the impact of facility management on the logistics and operational performance of warehouses.

Four different focus areas have been identified and for each one different methodologies and streams of research have been studied.

The study underlines the importance of facility management for the logistics operations; therefore it supports the notion that investments aiming at preserving the status of the building and service components of warehouses are crucial.

This paper aims to suggest to facilities management managers that they can contribute to enhance business performance by designing effective facility management strategies.