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1 – 3 of 3Muhammad Sami Ur Rehman, Muhammad Tariq Shafiq, Fahim Ullah and Khaled Galal Ahmed
The purpose of this study is to investigate the current construction progress monitoring (CPM) process in relation to the contractual obligations, how project management teams…
Abstract
Purpose
The purpose of this study is to investigate the current construction progress monitoring (CPM) process in relation to the contractual obligations, how project management teams carry out this activity in the field and why teams continue to adopt the current method. The study aims to provide a comprehensive understanding of the current monitoring process and its effectiveness, identify any shortcomings and propose recommendations for improvements that can lead to better project outcomes.
Design/methodology/approach
The study conducted semi-structured interviews with 28 construction management practitioners to explore their views on contractual requirements, traditional progress monitoring practices and advanced monitoring methods. Thematic analysis was used to identify existing processes, practices and incentives for advanced monitoring.
Findings
Standard construction contracts mandate current progress monitoring practices, which often rely on manual, document-centric and labor-intensive methods, leading to slow and erroneous progress reporting and project delays. Key barriers to adopting advanced tools include rigid contractual clauses, lack of incentives and the absence of reliable automated tools. A holistic automated approach that covers the entire CPM process, from planning to claim management, is needed as a viable alternative to traditional practices.
Research limitations/implications
The study's findings can inform researchers, stakeholders and decision-makers about the existing monitoring practices and contribute to enhancing project management practices.
Originality/value
The study identified contractually mandated progress monitoring processes, traditional methods of collecting, transferring, analyzing and dispensing progress-related information and potential incentives and points of departure towards technologically advanced methods.
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Keywords
Shagufta Parveen, Zoya Wajid Satti, Qazi Abdul Subhan, Nishat Riaz, Samreen Fahim Baber and Taqadus Bashir
This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX).
Abstract
Purpose
This study investigates the impact of the COVID-19 pandemic on investors' sentiments, behavioral biases and investment decisions in the Pakistan Stock Exchange (PSX).
Design/methodology/approach
The authors have assessed investors' behaviors and sentiments and the stock market overreaction during COVID-19 using a questionnaire and collected data from 401 investors trading in the PSX.
Findings
Results of structural equation modeling revealed that the COVID-19 pandemic affected investors' behaviors, investment decisions and trade volume. It created feelings of fear and uncertainty among market participants. Evidence suggests that behavioral heuristics and biases, including representative heuristic, anchoring heuristic, overconfidence bias and disposition effect, negatively influenced investors' decisions at the PSX.
Research limitations/implications
This study will contribute to behavioral finance literature in the context of developing countries as it has revealed the impact of COVID-19 on the emerging stock market, and its results are generalizable to other emerging stock markets.
Practical implications
The findings of this study will help academicians, researchers and policymakers of developing countries. Academicians can formulate new behavioral models that can depict the solutions of dealing with an uncertain situation like COVID-19. Policymakers like the Securities Exchange Commission and the PSX can formulate crisis management strategies based on behavioral finance concepts to cope with situations like COVID-19 in the future and help lessen investors' losses in the stock markets. The role of the Securities Exchange Commission is crucial as it regulates the financial markets. It can arrange workshops to educate investors to manage their decisions during crisis time and focus on the best use of irrational and rational decision-making at the same time using Lo (2004) adaptive market hypothesis.
Originality/value
The novelty of the paper is that the authors have introduced overconfidence and disposition effect as mediators that create a connection between representative and anchoring heuristics and investment decisions using primary data collected from investors (institutional and retail) to demonstrate the presence of psychological biases during COVID-19, and it has been done for the first time according to authors' knowledge. It is a contribution and addition to the behavioral finance literature in the context of developing countries' stock markets and their efficiency.
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This study aims to investigate the accounting role’s deficiencies in managers’ decision-making processes.
Abstract
Purpose
This study aims to investigate the accounting role’s deficiencies in managers’ decision-making processes.
Design/methodology/approach
The current research applies a critical review method, which along with a deductive approach – based on a library review of existing sources – examines the underlying causes for the deficiencies of accounting role in the decision-making process of managers; moreover, based on the results obtained, the current study proposes a structural model to explain the issue.
Findings
The results exhibit the inadequacies of the accounting role in the decision-making process of managers into three sections: “dilution of financial reporting information content,” “malpractice of accounting information providers” and “managers’ unwillingness to use accounting information.”
Practical implications
This research provides a new perspective on critical accounting studies for the accounting profession, policymakers and managers and invites them to examine the roles of accounting information in more depth and breadth.
Originality/value
This article is the first study that critically expounds upon the literature on the deficiencies of accounting role in the decision-making process of managers and presents these deficiencies in the form of a structural model from three different perspectives.
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