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A new conceptual model for corporate strategy in the construction industry is presented that is derived from two principal inputs. First, the fundamental components of the model are based upon observations drawn from an empirical study of 24 international firms competing in global engineering and construction markets. Second, the accumulated intellect of different strategic theories developed over four decades of strategic management research helps to fortify the model with theoretical propositions and establish linkages among the model's basic components. The proposed model is comprised of seven strategic fields, two organizational mechanisms and a boundary notion that divides a firm's internal setting from its external environment. The model's development leads to two central propositions: strategic fields and organizational mechanisms should function as variables to react with external dynamics, and the interaction of these variables consequently promotes higher order differentiation factors that will enhance the strategic outlook of a firm.

The purpose of this paper is to examine a series of environmental factors and industrial conditions governing the construction industry in China. The outcome of this part of the analysis sheds light on the development of appropriate competitive strategies and important resources and competencies (IRCs) to establish long‐term competitive advantages.

The overarching conceptual framework consists of both external and internal analyses. Since, the scope of work is very broad, the materials presented in this paper is limited to external analysis of environmental factors. The study is primarily derived from a literature review and synthesis of data gathered from various public sources. Certain parts of the analysis utilize frameworks developed by other researchers and selective statistical methods.

Some environmental factors, such as government intervention and legal and regulatory systems require the development of Guanxi (relationships) to cope with. Other factors including market structure, project procurement systems, horizontal market segments related to construction, regional characteristics and upstream and downstream functions within the construction value chain are suggestive of five potential types of competitive strategies: cost leadership, differentiation, market/product diversification, geographical diversification, and vertical/functional integration.

The research study as a whole is targeted at large construction firms in China that belong to the First class qualification category. Therefore, the proposed competitive strategies and IRCs may not be applicable to small and medium construction enterprises.

Application of strategic management theories and empirical findings related to the Chinese construction industry is lacking. This research fills this gap and builds a foundation for future studies related to this industry.

To provide a structured and integrated framework of corporate strategy in order to help practitioners and researchers identify critical issues related to the Chinese construction industry and analyze its dynamics from a holistic viewpoint.

A brief review of the major themes of strategy mostly developed by western researchers is first presented. This is then supplemented by a review of the pertinent characteristics of the construction industry in general, and those related to China's context in specific, which affect management decision‐making. Two case studies are used to illustrate the concepts implied by the proposed framework.

The cases of Guangsha and the Shanghai Construction Group demonstrate that there is no hard and fast rule in developing a coherent strategy. This is even truer considering the fact that China's circumstances are still evolving.

The critical elements identified in the proposed framework serve as a good starting point for individual firms to further develop a more detailed execution plan.

This paper bridges a management gap that exists between mainstream management researchers, who have few precedence of studying the construction industry, and traditional construction management researchers, who tend to focus on project‐level issues rather than corporate‐level issues.

The purpose of this paper is to examine the relationship between a number of variables pertaining to core capability, competitive strategy and performance of construction small to medium size enterprises (SMEs) in China.

The paper consists of a quantitative survey. It involves mainly the development of instrument and testing of the hypotheses.

Core capability and competitive strategy are found to influence construction SMEs' performance. Moreover, there are positive relationships between core capability and competitive strategy. This suggests a need to align core capability and competitive strategy as a precondition for superior performance.

The paper has limitations as a result of data collection. A somewhat larger sample would obviously permit firmer conclusions to be drawn from the results of the statistical analysis.

This paper will contribute to the literature on SMEs, strategic management and resource‐based theory. This integration of scope is particularly new to the context of the Chinese construction industry. Similarly, this research will have implications for practice. The research findings help SMEs' managers to understand the impact of the unique resources of their enterprises and competitive strategy.

This paper explores the impact of both government subsidies and decision makers' loss-averse behavior on the determination of transportation build-operate-transfer (BOT) concession periods based on cumulative prospect theory (CPT). The prospect value of a transportation project under traffic risk can be formulated according to the value function for gains and losses and the decision weight for gains and losses. As an extra income for investors, government subsidy is designed for highly risky aspects of BOT transportation projects: uncertain initial traffic volumes and fluctuating growth rates.

A decision-making model determining the concession period of a transportation BOT project is proposed by using the Monte-Carlo simulation method based on CPT, and the effects of risky behaviors of private investors on concession period decision making are analyzed. A subsidy method related to the internal rate-of-return (IRR) corresponding to a specific initial traffic volume and growth rate is proposed. The case of an actual BOT highway project is examined to illustrate how the method proposed can be used to determine the concession period of a transportation BOT project considering decision makers' loss-averse behavior and government subsidy. Contingency analysis is discussed to cope with possible misestimating of key factors such as initial traffic volume and cost coefficients. Sensitivity analysis is employed to investigate the impact of CPT parameters on the concession period decisions. An actual BOT case which failed to attract private capital is introduced to show the practical application. The results are then interpreted to conclude this paper.

Based on comparisons drawn between a concession period decision-making model considering the psychological behaviors of decision makers and a model not considering them, the authors conclude that the concession period based on CPT is distinctly different from that of the loss-neutral model. The concession period based on CPT is longer than the loss-neutral concession period. That is, loss-averse private investors tend to ask for long concession periods to make up for losses they will face in the future. Government subsidies serve as extra income for investors, allowing appointed profits to be secured sooner. For the benefit side of contingency variables, the normal state of initial traffic volume, average annual traffic growth rate and bias degree and the government subsidy need to be paid close attention during the project life span. For the cost side of contingency variables, the annual operating cost variable has a significant impact on the length of predicted concession period, while the large-scale cost variable has minor impact.

With an actual BOT highway project, the determination of transportation BOT concession periods based on the psychological behaviors of decision makers is analyzed in this paper. As the psychological behaviors of decision makers heavily impact the decision-making process, the authors analyze their impacts on concession period decision making. Government subsidy is specifically designed for various states of initial traffic volume and fluctuating growth rates to cope with corresponding high risks and mitigate private investors' loss-averse behaviors. Contingency analysis and sensitivity analysis are discussed as the estimated values of parameters may not be authentic in actual situations.

Despite the increasing demand for socially responsible investments (SRIs) and the importance of information intermediaries in providing corporate social responsibility (CSR) performance information through SRI screens, relatively little is known about the relationship between nonprofessional investors’ views regarding SRI, their use of SRI screens and their actual SRI behavior. This study aims to distinguish between investor views about the importance of corporate environmental responsibility (environmental performance importance views) and whether they view environmentally responsible firms as yielding higher returns (environmental performance return views). It examines the association between these views, SRI screen use and reported SRI holdings.

Nonprofessional investor participants completed an online survey about their SRI investment views, screen use and investment behavior. The survey yielded 201 usable responses.

The strength of participants’ environmental performance importance and environmental performance return views is positively associated with their use of SRI screens and the proportion of their portfolios held in SRIs. SRI screen use only partially mediates the association between investors’ environmental performance importance and return views and their SRI holdings.

The study does not precisely address what types of SRI screens nonprofessional investors may be using. It does not control for investors’ specific experience with SRIs, nor does it examine how or why investors come to believe that environmental responsibility may improve a company’s return potential.

The fact that SRI screen use only partially mediates the association between investors’ views and their SRI holdings suggests that either reliable, unfiltered CSR information is important for nonprofessional investors or some investors are choosing SRIs without obtaining adequate relevant information.

The study’s findings confirm earlier research findings which show an association between investors’ pro-environmental views and their decision to invest in SRIs (Williams, 2007; Nilsson, 2008) and suggest that nonprofessional investors are becoming aware of the positive relation between environmental performance and firm value (Dhaliwal et al., 2011; Clarkson et al., 2013; Hawn et al., 2014; Matsumura et al., 2014).

This study simultaneously examines the influence of environmental performance importance (an “alternative” investment perspective) and environmental performance return (a “traditional” investment perspective) on investors’ SRI behavior.

The purpose of this paper is to investigate how consumers’ altruistic values influence their personal norms, environmental attitudes, subjective norms and perceived barriers, all of which in turn influence their pro-environmental behaviour (i.e. the purchase of energy efficient household appliances).

This research follows a hypothetic-deductive approach. A unique conceptual model examines the role of consumers’ altruistic values in relation to their environmentally responsible purchase behaviour. Structured questionnaires were administered to randomly selected Vietnamese consumers who visited busy electronics and appliance specialist stores, which yielded 682 usable responses.

Structural equation modelling revealed that consumers’ altruistic values tend to positively influence their personal norms, environmental attitudes, subjective norms and mitigate their perceived barriers in relation to the purchase of energy efficient appliances.

Marketers, policymakers and sustainability campaigners should develop relevant communication and education programmes that emphasise the importance of purchasing energy efficient appliances for the environment and society, arousing consumers’ sense of moral obligation and societal responsibility to purchase such products. They should also provide a convenient and easily accessible shopping environment for consumers.

This research makes an important contribution by presenting and testing a new altruistic-values-based model that seeks to understand consumers’ environmentally responsible purchase behaviour. This model could serve as a blueprint for future studies in the domain of pro-environmental behaviour, especially those in emerging markets.

The volatility of bitcoin (BTC) and time horizon is the center point for investment decisions. However, attention is not often drawn to the relationship between BTC and equity indices. Thus, the purpose of this paper is to investigate the volatility and time frequency domain of BTC with stock markets.