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This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.

This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.

Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.

This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.

Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.

The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.

The purpose of this paper is to investigate the effect of the replacement of natural coarse aggregate (NCA) with different percentages of recycled coarse aggregate (RCA) on properties of low calcium fly ash (FA)-based geopolymer concrete (GPC) cured at oven temperature. Further, this paper aims to study the effect of partial replacement of FA by ground granulated blast slag (GGBS) in GPC made with both NCA and RCA cured under ambient temperature curing.

M25 grade of ordinary Portland cement (OPC) concrete was designed according to IS: 10262-2019 with 100% NCA as control concrete. Since no standard guidelines are available in the literature for GPC, the same mix proportion was adopted for the GPC by replacing the OPC with 100% FA and W/C ratio by alkalinity/binder ratio. All FA-based GPC mixes were prepared with 12 M of sodium hydroxide (NaOH) and an alkalinity ratio, i.e. sodium hydroxide to sodium silicate (NaOH:Na₂SiO₃) of 1:1.5, subjected to 90^°C temperature for 48 h of curing. The NCA were replaced with 50% and 100% RCA in both OPC and GPC mixes. Further, FA was partially replaced with 15% GGBS in GPC made with the above percentages of NCA and RCA, and they were given ambient temperature curing with the same molarity of NaOH and alkalinity ratio.

The workability, compressive strength, split tensile strength, flexural strength, water absorption, density, volume of voids and rebound hammer value of all the mixes were studied. Further, the relationship between compressive strength and other mechanical properties of GPC mixes were established and compared with the well-established relationships available for conventional concrete. From the experimental results, it is found that the compressive strength of GPC under ambient curing condition at 28 days with 100% NCA, 50% RCA and 100% RCA were, respectively, 14.8%, 12.85% and 17.76% higher than those of OPC concrete. Further, it is found that 85% FA and 15% GGBS-based GPC with RCA under ambient curing shown superior performance than OPC concrete and FA-based GPC cured under oven curing.

The scope of the present paper is limited to replace the FA by 15% GGBS. Further, only 50% and 100% RCA are used in place of natural aggregate. However, in future study, the replacement of FA by different amounts of GGBS (20%, 25%, 30% and 35%) may be tried to decide the optimum utilisation of GGBS so that the applications of GPC can be widely used in cast in situ applications, i.e. under ambient curing condition. Further, in the present study, the natural aggregate is replaced with only 50% and 100% RCA in GPC. However, further investigations may be carried out by considering different percentages between 50 and 100 with the optimum compositions of FA and GGBS to enhance the use of RCA in GPC applications. The present study is further limited to only the mechanical properties and a few other properties of GPC. For wider use of GPC under ambient curing conditions, the structural performance of GPC needs to be understood. Therefore, the structural performance of GPC subjected to different loadings under ambient curing with RCA to be investigated in future study.

The replacement percentage of natural aggregate by RCA may be further enhanced to 50% in GPC under ambient curing condition without compromising on the mechanical properties of concrete. This may be a good alternative for OPC and natural aggregate to reduce pollution and leads sustainability in the construction.

The COVID-19 pandemic has posed many challenges in almost all sectors around the globe. Because of the pandemic, government entities responsible for managing health-care resources face challenges in managing and distributing their limited and valuable health resources. In addition, severe outbreaks may occur in a small or large geographical area. Therefore, county-level preparation is crucial for officials and organizations who manage such disease outbreaks. However, most COVID-19-related research projects have focused on either state- or country-level. Only a few studies have considered county-level preparations, such as identifying high-risk counties of a particular state to fight against the COVID-19 pandemic. Therefore, the purpose of this research is to prioritize counties in a state based on their COVID-19-related risks to manage the COVID outbreak effectively.

In this research, the authors use a systematic hybrid approach that uses a clustering technique to group counties that share similar COVID conditions and use a multi-criteria decision-making approach – the analytic hierarchy process – to rank clusters with respect to the severity of the pandemic. The clustering was performed using two methods, k-means and fuzzy c-means, but only one of them was used at a time during the experiment.

The results of this study indicate that the proposed approach can effectively identify and rank the most vulnerable counties in a particular state. Hence, state health resources managing entities can identify counties in desperate need of more attention before they allocate their resources and better prepare those counties before another surge.

To the best of the authors’ knowledge, this study is the first to use both an unsupervised learning approach and the analytic hierarchy process to identify and rank state counties in accordance with the severity of COVID-19.

For decades, consumer identification and motivation, either alone or jointly, have been essential constructs for behavioral researchers. The resultant output is significant in terms of both quality and quantity. However, at a deeper level, a lack of conceptual clarity in the relationship between these constructs has led to theoretical and practical irregularities, which this study aims to address.

An online questionnaire was distributed to sport consumers aged over 18 participating in an online panel, prompted 293 completed responses. Structural equations modeling was used to examine the data.

Findings show that identification mediates the effects of intrinsic and extrinsic motivation on sport supporters’ loyalty and explain 90% of the variance in that construct. In addition, identification mediates the adverse effects of extrinsic motivation on loyalty and strengthens loyalty when levels of satisfaction decline.

This study extends previous work by providing a theoretical perspective that clarifies the relationship between motivation and consumer identification; deepens theory by empirically observing the relationship at different levels of consumer satisfaction; and presents a parsimonious, valid and reliable method that managers can leverage to strengthen sport supporters’ loyalty.

Drawing insights from institutional theory, this paper aims to examine whether and to what extent banks have reconfigured their management control systems (MCSs) in response to growing institutional pressures towards sustainability, understood as environmental, social and governance (ESG) issues.

The authors conducted an exploratory study at the three largest Italian banking groups to shed light on changes made in MCSs to account for ESG issues. The analysis is based on 12 semi-structured interviews with managers from the sustainability and controls areas, as well as from other relevant operational areas particularly concerned with the integration process of ESG issues. Additionally, secondary data sources were used. The Malmi and Brown (2008) MCS framework, consisting of a package of five types of formal and informal control mechanisms, was used to structure and analyse the empirical data.

The examined banks widely implemented numerous changes to their MCSs as a response to the heightened sustainability pressures from regulatory bodies and stakeholders. In particular, with the exception of action planning, the results show an extensive integration of ESG issues into the five control mechanisms of Malmi and Brown’s framework, namely, long-term planning, cybernetic, reward/compensation, administrative and cultural controls.

By identifying the approaches banks followed in reconfiguring traditional MCSs, this research sheds light on how adequate MCSs can promote banks’ “sustainable behaviours”. The results can, thus, contribute to defining best practices on how MCSs can be redesigned to support the integration of ESG issues into the banks’ way of doing business.

Overall, the findings support the theoretical assertion that institutional pressures influence the design of banks’ MCSs, and that both formal and informal controls are necessary to ensure a real engagement towards sustainability. More specifically, this study reveals that MCSs, by encompassing both formal and informal controls, are central to enabling banks to appropriately understand, plan and control the transition towards business models fully oriented to the integration of ESG issues. Thereby, this allows banks to effectively respond to the increased stakeholder demands around ESG concerns.

This paper aims to explore the moderating role of state ownership variables on the relationship between market concentration (MC) and financial statement comparability (FSC) in Vietnam.

This study uses data from the financial statements of 475 nonfinancial listed companies for the period from 2010 to 2019. This study uses both the system generalized method of moments and fuzzy-set qualitative comparative analysis (fsQCA) to consider the correlation and causal–effect relationships of the variables in the model.

The results show that MC has a positive relationship with FSC, and MC tends to exert a stronger impact on FSC for firms with higher state ownership. In addition, this study suggests that some combinations help improve FSC. This study has important implications for investors, managers and especially state-owned organizations when market power becomes fierce.

This study contributes to the literature on the comparability of financial statements in the context of developing countries that have not fully adopted International Financial Reporting Standards. Furthermore, this study applies the fsQCA method to complement the linear regression method.

Work–family conflict is one of the most challenging stressors for construction industry professionals to cope with emotional problems. This study aims to propose a model linking work–family conflict and high-quality relationships among project team members and explore mediating effects of life and job satisfactions.

A theoretical framework was established based on the spillover theory and social exchange theory. Data were obtained by a questionnaire survey conducted with 328 respondents working in construction projects. Structural equation modeling (SEM) was used to test interrelationships among work–family conflict, job satisfaction, life satisfaction and high-quality relationship.

The results indicate that work–family conflict is negatively associated with both job and life satisfactions of construction professionals. In addition, there were direct and positive relationships between satisfaction domains and high-quality relationship capacity. The findings further support that job satisfaction plays a mediating role between work–family conflict and high-quality relationship among construction professionals, while life satisfaction does not mediate the relationship.

The effects of interrole conflicts on the context of satisfaction have been investigated previously; however, there is a lack of knowledge regarding its influence on high-quality relationship among project team members. This study extends the body of knowledge on high-quality relationships among project team members to understand how conflict and satisfaction factors influence interpersonal relationships in construction project management.

Increasing overhang of serviced apartments poses a serious concern to the national property market. This study aims to examine the impacts of macroeconomic determinants, namely, gross domestic product (GDP), consumer confidence index (CF), existing stocks (ES), incoming supply (IS) and completed project (CP) on serviced apartment price changes.

To achieve more accurate, quality price changes, a serviced apartment price index (SAPI) was constructed through a self-developed hedonic price index model. This study has collected 1,567 transaction data in Kuala Lumpur, covering 2009Q1–2018Q4 for price index construction and data were analysed using the vector autoregressive model, the vector error correction model and the fully modified ordinary least squares (OLS) (FMOLS).

Results of the regression model show that only GDP, ES and IS were significantly associated with SAPI, with an R² of 0.7, where both ES and IS have inverse relationships with SAPI. More precisely, it is predicted that the price of serviced apartments will be reduced by 0.56% and 0.21% for every 1% increase in ES and IS, respectively.

Therefore, government monitoring of serviced apartments’ future supply is crucial by enforcing land use-planning regulations via stricter development approval of serviced apartments to safeguard and achieve more stable property prices.

By adopting an innovative approach to estimating the response of price change to supply and demand in a situation where there is no price indicator for serviced apartments, the study addresses the knowledge gap, especially in terms of understanding what are the key determinants of, and to what extent they influence, the SAPI.

Establishing a more sustainable built environment is an increasing global concern for the construction industry. Despite the intrinsic and extrinsic obstacles the stakeholders face, huge efforts are required to transition to a smooth, sustainable construction (SC) practice. This study identifies and discusses cogent obstacles to SC in developing nations.

The Preferred Reporting Item for systematic reviews and Meta-Analysis (PRISMA) approach was employed to establish research work in SC for developing countries. The databases used were Scopus and Web of Science. Meta-analysis of keywords was analysed thematically. The initial broad search returned 8,420 publications which were filtered and reviewed in-depth to fit the aim of the study, produced only 21 relevant publications from the years 2000–2021.

The four identified themes of obstacles to SC in developing countries are as follows: construction professional training and education, clients' attitudes and awareness, construction industries' culture and capacity and governments' regulation, policies and economy. The key barriers identified from the meta-analysis include inadequate training and education amongst construction professionals, poor execution of sustainability ethics, poor populace attitude towards sustainability, poor awareness and understanding, dearth of precise data and integrated study and inappropriate priorities about sustainability.

The originality in this study are themes drawn from millennium development goals (MDGs) and sustainable development goals (SDGs) publications related to SC. Consequently, the final framework presented a holistic approach to surmounting the established limitations and aided recommendations for future studies. Thus, setting a background for developing strategies to overcome the limitations and further attain sustainable development (SD).