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According to the Project Management Institute, 70% of projects fail globally. The causes of project failure in many instances can be identified as non-technical or behavioral in nature arising from interactions between participants. These intangible risks can emerge in any project setting but especially in project settings having diversity of cultures, customs, beliefs and traditions of various companies or countries. This paper provides an objective framework to address these intangible risks.

This paper presents a structured approach to identify, assess and manage intangible risks to enhance a project team’s ability to meet its objectives. The authors propose a user-friendly framework, Intangible Risk Assessment Methodology for Projects (IRAMP), to address these risks and the factors that cause them. Meta-network (e.g., a network of networks) simulation and established social network analysis (SNA) measures provide a quantitative assessment and ranking of causal events and their influence on the intangible behavior centric risks.

The proposed IRAMP and meta-network approach were utilized to examine the project delivery process of an international energy firm. Data were gathered using structured interviews, surveys and project team workshops. The use of the IRAMP to highlight intangible risk areas underpinned by the SNA measures led to changes in the company’s organizational structure to enhance project delivery effectiveness.

This work extends the existing project risk management literature by providing a novel objective approach to identify and quantify behavior centric intangible risks and the conditions that cause them to emerge.

The purpose of this paper is to investigate dynamics of causal interactions and financial risk contagion among BRICS stock markets under rare events.

Two methods are adopted: The new causal inference technique, namely, the Liang causality analysis based on information flow theory and the dynamic causal index (DCI) are used to measure the financial risk contagion.

The causal relationships among the BRICS stock markets estimated by the Liang causality analysis are significantly stronger in the mid-periods of rare events than in the pre- and post-periods. Moreover, different rare events have heterogeneous effects on the causal relationships. Notably, under rare events, there is almost no significant Liang's causality between the Chinese and other four stock markets, except for a few moments, indicating that the former can provide a relatively safe haven within the BRICS. According to the DCIs, the causal linkages have significantly increased during rare events, implying that their connectivity becomes stronger under extreme conditions.

The obtained results not only provide important implications for investors to reasonably allocate regional financial assets, but also yield some suggestions for policymakers and financial regulators in effective supervision, especially in extreme environments.

This paper uses the Liang causality analysis to construct the causal networks among BRICS stock indices and characterize their causal linkages. Furthermore, the DCI derived from the causal networks is applied to measure the financial risk contagion of the BRICS countries under three rare events.

This study aims to develop an interface management risk interaction modeling and analysis methodology applicable to complex systems in high-speed rail construction projects, reveal the interaction mechanism of interface management risk and provide theoretical support for project managers to develop appropriate interface management risk response strategies.

This paper introduces the association rule mining technique to improve the complex network modeling method. Taking China as an example, based on the stakeholder perspective, the risk factors and significant accident types of interface management of high-speed rail construction projects are systematically identified, and a database is established. Then, the Apriori algorithm is used to mine and analyze the strong association rules among the factors in the database, construct the complex network, and analyze its topological characteristics to reveal the interaction mechanism of the interface management risk of high-speed rail construction projects.

The results show that the network is both scale-free and small-world, implying that construction accidents are not random events but rather the result of strong interactions between numerous interface management risks. Contractors, technical interfaces, mechanical equipment, and environmental factors are the primary direct causal factors of accidents, while owners and designers are essential indirect causal factors. The global importance of stakeholders such as owners, designers, and supervisors rises significantly after considering the indirect correlations between factors. This theoretically explains the need to consider the interactions between interface management risks.

The interaction mechanism between interface management risks is unclear, which is an essential factor influencing the decision of risk response measures. This study proposes a new methodology for analyzing interface management risk response strategies that incorporate quantitative analysis methods and considers the interaction of interface management risks.

The below-average innovative capacity of the tourism sector raises the question on the potentials of digital business ecosystems (DBEs) to overcome these shortages at a destination level – especially within a smart city environment. Using the example of the German Capital Berlin, this article aims to discuss both the possibilities and inhibitors of innovative knowledge-creation by building scenarios on one specific design option: the integration of digital deep learning (DL) functionalities and traditional organizational learning (OL) processes.

Using the qualitative GABEK-method, major characteristics of a DBE as resource-, platform- and innovation systems are analyzed toward their interactions with the construction of basic action models (as the basic building blocks of knowledge).

Against the background of the research findings, two scenarios are discussed for future evolution of the Berlin DBE, one building on cultural emulation as a trigger for optimized DL functionalities and one following the idea of cultural engineering supported by DL functionalities. Both scenarios focus specifically on the identified systemic inhibitors of innovative capabilities.

While this study highlights the potential of the GABEK method to analyze mental models, separation of explicit and latent models still remains challenging – so does the reconstruction of higher order mental models which require a combined take on interview techniques in the future.

The resulting scenarios innovatively combine concepts from OL theory with the concept of DBE, thus indicating possible pathways into a tourism future where the limitations of human learning capacities could be compensated through the targeted support of general artificial intelligence (AI).

The purpose of this study is to identify the causative factors of metro construction safety accidents, analyze the correlation between accidents and causative factors and assist in developing safety management strategies for improving safety performance in the context of the Chinese construction industry.

To achieve these objectives, 13 types and 48 causations were determined based on 274 construction safety accidents in China. Then, 204 cause-and-effect relationships among accidents and causations were identified based on data mining. Next, network theory was employed to develop and analyze the metro construction accident causation network (MCACN).

The topological characteristics of MCACN were obtained, it is both a small-world network and a scale-free network. Controlling critical causative factors can effectively control the occurrence of metro construction accidents. Degree centrality strategy is better than closeness centrality strategy and betweenness centrality strategy.

In practice, it is very difficult to quantitatively identify and determine the importance of different accidents and causative factors. The weights of nodes and edges are failed to be assigned when constructing MCACN.

This study provides a theoretical basis and feasible management reference for construction enterprises in China to control construction risks and reduce safety accidents. More safety resources should be allocated to control critical risks. It is recommended that safety managers implement degree centrality strategy when making safety-related decisions.

This paper establishes the MCACN model based on data mining and network theory, identifies the properties and clarifies the mechanism of metro construction accidents and causations.

This research paper aims to establish a comprehensive framework for the barriers to CER in the construction industry, assesses the barriers' relative degrees of hindrance and causal mechanisms.

Firstly, 26 carbon emission reduction (CER) barriers in the construction industry were identified based on a systematic literature review (SLR) and categorized into five dimensions: policy, economy, society, technology and organization (PEST + O model). Secondly, the Best–Worst Method (BWM) was used to clarify the degrees of hindrance of the CER barriers. Then, the Grey-Decision-Making Trial and Evaluation Laboratory (Grey-DEMATEL) was used to visualize the directional cause–result relationship network among prominent barriers. Finally, the Boston matrix model was used to propose differentiated strategies to address CER barriers in the construction industry.

The calculated centrality and causality of the prominent barriers indicated that the lack of relevant legal policies and normative guidelines, the poor binding force and enforcement of existing relevant policies, the lack of effective economic subsidies and incentives and the difficulty in the operation, transformation and upgrading of existing construction CER are the key barriers that CER needs to address first in the construction industry. Considering the order of priority and the optimal path, differentiated countermeasures are proposed to address key, driving, independent and effect barriers.

This study develops a BWM–Grey-DEMATEL integrated multi-criteria decision-making model. An innovative C-shaped strategic map for addressing CER barriers in the construction industry is proposed by integrating the dual dimensions of time and space. This will guide practitioners, policymakers and decision-makers in developing CER strategies.

In the evolution process of building construction accidents, there are key nodes of risk change. This paper aims to quickly identify the key nodes and quantitatively assess the node risk. Furthermore, it is essential to propose risk accumulation assessment method of building construction.

Authors analyzed 419 accidents investigation reports on building construction. In total, 39 risk factors were identified by accidents analysis. These risk factors were combined with 245 risk evolution chains. Based on those, Gephi software was used to draw the risk evolution network model for building construction. Topological parameters were applied to interpret the risk evolution network characteristic.

Combining complex network with risk matrix, the standard of quantitative classification of node risk level is formulated. After quantitative analysis of node risk, 7 items of medium-risk node, 3 items of high-risk node and 2 items of higher-risk nodes are determined. The application results show that the system risk of the project is 44.67%, which is the high risk level. It can reflect the actual safety conditions of the project in a more comprehensive way.

This paper determined the level of node risk only using the node degree and risk matrix. In future research, more node topological parameters that could be applied to node risk, such as clustering coefficients, mesoscopic numbers, centrality, PageRank, etc.

This article can quantitatively assess the risk accumulation of building construction. It would help safety managers could clarify the system risk status. Moreover, it also contributes to reveal the correspondence between risk accumulation and accident evolution.

This study comprehensively considers the likelihood, consequences and correlation to assess node risk. Based on this, single-node risk and system risk assessment methods of building construction systems were proposed. It provided a promising method and idea for the risk accumulation assessment method of building construction. Moreover, evolution process of node risk is explained from the perspective of risk accumulation.

This paper aims to investigate whether the establishment of commodity futures can effectively hedge systemic risk in the spot network, given the context of financialization in the commodity futures market.

Utilizing industry association data from the Chinese commodity market, the authors identify systemically important commodities based on their importance in the production process using multiple graph analysis methods. Then the authors analyze the effect of listing futures on the systemic risk in the spot market with the staggered difference-in-differences (DID) method.

The findings suggest that futures contracts help reduce systemic risks in the underlying spot network. Systemic risk for a commodity will decrease by approximately 5.7% with the introduction of each corresponding futures contract, since the hedging function of futures reduces the timing behavior of firms in the spot market. Establishing futures contracts for upstream commodities lowers systemic risks for downstream commodities. Energy commodities, such as crude oil and coal, have higher systemic importance, with the energy sector dominating systemic importance, while some chemical commodities also have considerable systemic importance. Meanwhile, the shortest transmission path for risk propagation is composed of the energy industry, chemical industry, agriculture/metal industry and final products.

The paper provides the following policy insights: (1) The role of futures contracts is still positive, and future contracts should be established upstream and at more systemically important nodes in the spot production chain. (2) More attention should be paid to the chemical industry chain, as some chemical commodities are systemically important but do not have corresponding futures contracts. (3) The risk source of the commodity spot market network is the energy industry, and therefore, energy-related commodities should continue to be closely monitored.

This study aims to investigate the impact of the COVID-19 pandemic on the time-frequency connectedness between green bonds, stock markets and commodities (Brent and Gold), with a particular focus on China and its implication for portfolio diversification across different frequencies.

To this end, the authors implement the frequency connectedness approach of Barunik and Krehlik (2018), followed by the network connectedness before and during the COVID-19 outbreak. In particular, the authors implement more involvement in portfolio allocation and risk management by estimating hedge ratios and hedging effectiveness for green bonds and other financial assets.

The time-frequency domain spillover results show that gold is the net transmitter of shocks to green bonds in the long run, whereas green Bonds are the net recipients of shocks, irrespective of time horizons. The subsample analysis for the pandemic crisis period shows that green bonds dominate the network connectedness dynamic, mainly because it is strongly connected with the SP500 index and China (SSE). Thus, green bonds may serve as a potential diversifier asset at different time horizons. Likewise, the authors empirically confirm that green bonds have sizeable diversification benefits and hedges for investors towards stock markets and commodity stock pairs before and during the COVID-19 outbreak for both the short and long term. Gold only offers diversification gains in the long run, while Brent does not provide the desired diversification gains. Thus, the study highlights that green bonds are only an effective diversified.

This study contributes to the existing literature by improving the understanding of the interconnectedness and hedging opportunities in short- and long-term horizons between green bonds, commodities and equity markets during the COVID-19 pandemic shock, with a particular focus on China. This study's findings provide more implications regarding portfolio allocation and risk management by estimating hedge ratios and hedging effectiveness.

This study aims to endeavor to shed light on the underlying causal mechanisms behind the failure of startups by examining the failure process in such organizations. To achieve this goal, the study conducted a comprehensive review of the literature on the definition of failure and its various dimensions, resulting in the compilation of a comprehensive list of causes of startup failure. Subsequently, the failure process was analyzed using a behavioral strategy approach that encompasses rationality, plasticity and shaping, as well as the growth approach of startups based on dialectic, teleology and evolution theories.

The proposed research methodology was a case study using process tracing, with the sample being a failed platform in the ride-hailing technology sector. The causal mechanism was further explicated through the combined application of the behavioral strategy approach and interpretive structural modeling analysis.

The findings of the study suggest that the failure of startups is a result of interlinked causes and effects, and growth in these organizations is driven by dialectic, teleology and evolution theories.

The outcomes of the research can assist startups in formulating an effective strategy to deliver the right value proposition to the market, thereby reducing the chances of failure.