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Open Access
Book part
Publication date: 1 May 2019

Pertti Lahdenperä

The paper aims to describe the evolution and use of project alliancing in Finland: how the model was discovered, and then, little by little, became an established practice.

Abstract

Purpose

The paper aims to describe the evolution and use of project alliancing in Finland: how the model was discovered, and then, little by little, became an established practice.

Design/Methodology/Approach

The paper is based on a long-term observation of the construction sector activities, involvement in their development and a review of related research and practice documents.

Findings

The paper illustrates how a major change may be laborious. It also reveals that the application of project alliancing seems to have been successful so far, but there are still threats on the horizon.

Research Limitations/Implications

The overview ignores many meaningful details and does not include a critical review of the positive experiences reported by the industry. There certainly is need for related research.

Practical Implications

The study offers a point of reference for evaluation of the smoothness of the progress of industry wide changes.

Originality/Value

This paper seems to be the first one providing a more comprehensive picture of the progress and use of alliancing in Finland, thus supplementing existing view- and project-specific examinations.

Details

10th Nordic Conference on Construction Economics and Organization
Type: Book
ISBN: 978-1-83867-051-1

Keywords

Book part
Publication date: 19 September 2014

Fabio Zambuto, M. V. Shyam Kumar and Jonathan P. O’Brien

We propose that in addition to its resources and capabilities, a firm’s capital structure and financial health will act as an important determinant of its attractiveness as an…

Abstract

We propose that in addition to its resources and capabilities, a firm’s capital structure and financial health will act as an important determinant of its attractiveness as an alliance partner. Alliances with leveraged firms are prone to unplanned termination due to financial distress, which puts at risk the value embedded in the collaboration. As a result, ceteris paribus, highly leveraged firms will be viewed as less desirable partners in the market for interfirm collaboration when compared to low leverage firms. In support of this proposition, we find that when forming an alliance firms tend to partner with other firms with similar levels of leverage: low-leverage firms partner with other low-leverage firms while high-leverage firms partner with other high-leverage firms, as well as with lower quality ones. Furthermore, we show that alliances with highly leveraged firms are more likely to involve equity participation as a form of ex post protection, especially when they involve partners with relatively lower leverage. Finally, we show that leverage is negatively related to the intensity of alliance activity, suggesting that firms also maintain lower leverage in their capital structure in order to attract potential partners. Overall our results imply that financial policies regarding capital structure have an important role to play in alliancing activity.

Details

Finance and Strategy
Type: Book
ISBN: 978-1-78350-493-0

Abstract

Details

Globalization, Political Economy, Business and Society in Pandemic Times
Type: Book
ISBN: 978-1-80071-792-3

Open Access
Book part
Publication date: 1 May 2019

Ole Jonny Klakegg, Lars Kristian Hunn and Per Fridtjof Larssen

Identify what kind of research we need to reach extraordinary performance in value chains in construction projects.

Abstract

Purpose

Identify what kind of research we need to reach extraordinary performance in value chains in construction projects.

Design/Methodology/Approach

Theory and qualitative case study (document study and interviews in the Bispevika project).

Findings

To change the collaborative game and transform the construction industry, there is a need for research on projects with extraordinary ambitions. The research needs to bridge from strategic level down into specific details in operations. We need contributions that do not follow the general tendency to limit perspectives and focus small, isolated questions. Research must be designed in a multidisciplinary fashion that includes aspects on all levels from individuals to across organisations in the project and even the industry itself. Research also needs to define a new “business model”. If not, research can become irrelevant rather than being a relevant partner producing knowledge and insights in the transformation of the construction industry.

Research Limitations/Implications

For researchers, this result indicates that there is a need for more complex, interdisciplinary research to be able to cover both the strategic and fundamental levels.

Practical Implications

The Bispevika project shows that both strategic direction and fundamental issues need attention and practical action.

Originality/Value

The research raises important aspects of a research agenda for the industry. This paper argues how research can contribute with relevant insights and will help define a more ambitious research agenda where the construction industries’ challenges can become the catalyst for also transforming future research design.

Details

10th Nordic Conference on Construction Economics and Organization
Type: Book
ISBN: 978-1-83867-051-1

Keywords

Book part
Publication date: 29 August 2017

Peter J. Edwards, Paul A. Bowen and Keith S. Cattell

In this chapter, the nature and extent of corruption in the construction industry is considered from a worldwide perspective, but particularly in the context of research conducted…

Abstract

In this chapter, the nature and extent of corruption in the construction industry is considered from a worldwide perspective, but particularly in the context of research conducted in South Africa. The definition of corruption is expanded to include conflict of interest and unethical conduct. Corruption in the construction industry is found to be universal and pervasive, occurring in all areas, at all stages, at all levels, and in all forms. A simple triangular model of corruption is replaced by a more complex four-dimensional risk-based model. The challenge for the construction industry, in combating corruption, will essentially require multilateral action in all four dimensions of the enhanced model: eliminating and reducing opportunities where possible; relieving the pressures to commit corrupt acts; rebutting the rationales and arguments used to excuse corruption; and substantially improving and innovating more forensic methods of detection. While the decision to engage in corruption is risk-based, particularly in terms of the capacity to evade detection; in essence corruption is a cultural and moral issue for society.

Details

The Handbook of Business and Corruption
Type: Book
ISBN: 978-1-78635-445-7

Keywords

Open Access
Book part
Publication date: 1 May 2019

Pekka Huovinen

This study aims to advance networking-based, construction-related business management (BM) knowledge, concepts and practices. The focus is on the supply side and therein…

Abstract

Purpose

This study aims to advance networking-based, construction-related business management (BM) knowledge, concepts and practices. The focus is on the supply side and therein networking between three or more companies on an equal, legal, managerial and organisational basis.

Design/Methodology/Approach

The literature reviewing process has resulted in the identification of 79 construction-related BM concepts published between the years 1990 and 2017. In this paper, the focused review reveals the degrees to which the authors have designed their BM concepts along the networking dimension.

Findings

Indeed, 33 (42 per cent) construction-related BM concepts have been designed along the networking dimension. There are 7 (9 per cent) high-degree, 11 (14 per cent) medium-degree and 15 (19 per cent) low-degree BM concepts. The high-degree ones include Bennett’s (2000) tapestry, Hobday’s (2000) project-based organisation, Cheng and Li’s (2002) partnering model, Love et al.’s (2002) long-term alliance, Kiiras and Huovinen’s (2004) virtual PM company, Helander and Möller’s (2007) network resources as well as Wikström et al.’s (2010) business networks.

Research Limitations/Implications

Aligning with Penrose (1995), networking-based BM may imply a paradigm shift vis-à-vis managing in construction markets, i.e. it is envisioned that many researchers replace a firm with a business network as a unit of theorising.

Practical Implications

It seems that the seven high-degree BM concepts enable firms to manage businesses with similar contexts embedded within construction markets in networking-based, viable ways.

Originality/Value

There is very little applied theoretical knowledge about networking as part of construction-related BM. This exploratory, focused review may trigger future BM research along the networking dimension.

Details

10th Nordic Conference on Construction Economics and Organization
Type: Book
ISBN: 978-1-83867-051-1

Keywords

Book part
Publication date: 5 April 2022

Ayodeji Emmanuel Oke, Seyi Segun Stephen, Clinton Ohis Aigbavboa, Deji Rufus Ogunsemi and Isaac Olaniyi Aje

This chapter discusses the involvement of procurement in smart city development. Procurement plays a vital role in the development of strategies in planning, and execution in the…

Abstract

This chapter discusses the involvement of procurement in smart city development. Procurement plays a vital role in the development of strategies in planning, and execution in the construction industry. This is further introduced into smart city to find the best possible methods of bringing the ideas behind smart city into realisation. The common procurement methods are explained along with their involvement in smart city. Common drawbacks to smart cities procurement and measures to challenges in the procurement of smart city are also explicitly explained in the chapter. Through an identified and accepted procurement method into smart city, the processes involved in executing smart city will be the ones with directions and proper planning.

Details

Smart Cities: A Panacea for Sustainable Development
Type: Book
ISBN: 978-1-80382-455-0

Keywords

Abstract

Details

Handbook of Transport Strategy, Policy and Institutions
Type: Book
ISBN: 978-0-0804-4115-3

Book part
Publication date: 30 November 2020

Anneleen Van Boxstael and Lien Denoo

We advance theory of how founder identity affects business model (BM) design during new venture creation and contribute to the cognitive perspective on BMs. We look at BM design…

Abstract

We advance theory of how founder identity affects business model (BM) design during new venture creation and contribute to the cognitive perspective on BMs. We look at BM design as a longitudinal process involving a variety of cognitive work that is co-shaped by the founder identity work. Based on an in-depth nine-year process study of a single venture managed by three founders, we observed that a novelty-centered BM design resulted from cognitive work co-shaped by founder identity construction and verification processes. Yet, more remarkably, we noted that founder identity verification decreased over time and observed a process that we labeled “identity-business model decoupling.” It meant that the founders did not alter their founder identity but, over time, attentively grew self-aware and mindfully disengaged negative identity effects to design an effective BM. Our results provide a dynamic view on founder identity imprinting on ventures’ BMs and contribute to the identity, BM, and entrepreneurship literatures.

Book part
Publication date: 8 June 2011

Steven W. Floyd and Rebekka Sputtek

Purpose – The purpose of this chapter is to advance research that relies on information from or about individuals and their role in strategic outcomes.Methodology/approach – We…

Abstract

Purpose – The purpose of this chapter is to advance research that relies on information from or about individuals and their role in strategic outcomes.

Methodology/approach – We start by identifying three streams of strategy research that call for individual-level data (upper echelons, micro-foundations, and strategy-as-practice) and proceed by examining the methods employed across 43 recent empirical studies.

Findings – Our analysis addresses three key challenges faced by researchers in these domains and catalogues the strategies used to surmount them.

Social implications – By helping to improve methods for research on individuals and strategy, this chapter advances understanding of how people throughout the organization may contribute to strategic outcomes.

Originality/value of paper – Our chapter is one of the first to analyze methods across three research domains that have heretofore been considered separate. In addition to describing what has been done, we suggest opportunities for improvement, frequently by finding ways to cross-fertilize methods from one stream into another.

Details

Building Methodological Bridges
Type: Book
ISBN: 978-1-78052-026-1

Keywords

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Book part (18)
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