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This paper aims to examine the evidence of risk spillovers between Shanghai and London non-ferrous futures markets using a dynamic Copula-CoVaR approach.

With daily data, the marginal distributions and optimal Copula functions are determined using the kernel estimation method and squared Euclidean distance test. The conditional value-at-risk and the conditional value-at-risk spillover rate are computed from the Copula estimated parameters based on the Copula-CoVaR model. Also, the dynamic correlation coefficient between the two futures markets is investigated.

The empirical results are as follows: overall, the risk spillover effect exerted by the London Metal Exchange on the Shanghai Futures Exchange is more significant than vice versa. Moreover, the degree of risk spillovers exerted by the London Metal Exchange on the Shanghai Futures Exchange for zinc and copper are more significant when they are depressed in the London Metal Exchange. Moreover, the dynamic of the correlation between the Shanghai and London futures markets is attributed to be largely due to changes in the global economy.

The Copula-CoVaR model used in this paper is suitable for measuring the risk spillovers between two different markets, while the risk spillovers across multiple markets or the consideration of multiple risk factors cannot be accurately captured using this framework. Multiple state variables to capture time variation in the conditional moments of return series will be a topic in future research.

The results provide theoretical support for risk management and monitoring of the non-ferrous futures markets.

The ability of the Copula function to accurately describe a nonlinear relationship and tail correlation is harnessed to measure the risk spillovers, explore the degree and direction of risk spillovers and identify the source of risk spillovers. The global economy is incorporated as a macro factor to explore its inner connection with the dynamic of risk spillovers in the non-ferrous metal futures market.

Many scholars would agree that the international status of Hong Kong is one of the crucial factors that contribute to the continued success of Hong Kong. However, few of them explain the origin of Hong Kong’s international status. The purpose of this paper is to fill this literature gap through the case study of Hong Kong’s admission to an international organization – the Asian Development Bank (ADB) – in the late 1960s.

Based on declassified archives, a historical approach has been adopted to trace the origin of Hong Kong’s international status.

The findings suggest that Cold War geopolitics, both local and regional level, explain why Hong Kong, even though remained as a dependent territory of Britain, became a member of an international organization independent from the British influence. While geopolitics at local level incentivized the colonial government to “go out” for external support, geopolitics at the regional level provided an opportunity for Hong Kong to acquire membership of the ADB.

This paper is among the first academic study on the origin of Hong Kong’s international status.

The purpose of this study is to explore the influence of transformational leadership (TL) on a firm's radical and incremental innovation. It also deepens the understanding of appropriate mechanisms and conditions to improve specific aspects of innovation by examining the mediating role of knowledge management capability (KMC) and moderating mechanism of collaborative culture.

This study utilized structural equation modeling (SEM) and cross-sectional design to test hypotheses in the proposed research model using survey data collected from 365 participants in 86 manufacturing and service firms.

The findings indicate that TL induces greater effect on radical innovation compared to its effect on incremental innovation. The mediating role of KMC between TL and aspects of innovation capability is also supported. Especially, the influences of KMC on specific aspects of innovation capability are different and depend on the degree of collaborative culture in an organization.

Future research should examine the mediating mechanisms of knowledge acquisition, knowledge sharing and knowledge application to provide deeper insight into specific roles of knowledge management's constituents in linking TL and innovation capability.

The paper significantly contributes to increasing the understanding of the link between TL and specific aspects of innovation capability by highlighting the important role of KMC and positive effects of collaborative climate in an organization.

The paper is unique in the attempts to provide a prospective solution for firms to pursue and improve innovation based on the meaningful insights into the mediating role of KMC and moderating effect of collaborative culture in the relationship between TL and specific dimensions of innovation capability.

Energy is a resource of strategic importance for high density cities. International trade reshapes the urban economy and industrial structure of a city, which will indirectly affect energy use. As an international trade hub, Hong Kong relies on the import and export of services. Energy performance in the international trading of these services needs to be properly understood and assessed for Hong Kong’s urban renewal efforts. The paper aims to discuss these issues.

This study evaluates Hong Kong’s embodied energy in service trades based on an input-output analysis. The three criteria used for assessment include trading areas, industry sector and trade balance.

Analyzed by region, results show that Mainland China and the USA are the two largest sources of embodied energy in imports of services, while Mainland China and Japan are the two largest destinations of exports. In terms of net embodied energy transfer, Hong Kong mainly receives net energy import from Mainland China and the USA and supplies net energy export to Japan, the UK and Taiwan. Among industry sectors, manufacturing services, transport and travel contribute most significantly to the embodied energy in Hong Kong’s imported services, while transport and travel contribute most to the energy embodied in exported services.

This study identifies the characteristics of energy consumption of service trading and establishes a feasible approach to analyze energy performance of service trade in energy-deficient Hong Kong for the first time. It provides necessary understanding and foundation for developing energy strategies in a service-based, high density urban economy.

Thie purpose of this paper is to present the critical success factors (CSFs) for engaging in the building maintenance business in Hong Kong where maintenance is a major market sector.

In this study, CSFs are identified for the business of building maintenance based on data collected from a questionnaire survey and interviews.

A total of 12 CSFs are identified, such as client's satisfaction, certification of company, reliability of service, quality of service, and company reputation, and most are related to two principal factors, namely maintenance service and organization, and project management.

This paper provides a review of building maintenance in Hong Kong and identifies a list of success factors for the business of building maintenance. The identified CSFs and principal factors provide useful reference for maintenance contractors to have a clear understanding of the expectations of the building maintenance market in Hong Kong.

This paper introduces the findings of a recent benchmarking study on the use of information technology (IT) among quantity surveying (QS) companies in Hong Kong. The study was conducted through a questionnaire survey among 15 QS companies registered in Hong Kong, representing around 50 per cent of the total number of companies in the profession. The study focused on how QS companies use IT in their daily operations, including information flows among business partners, the use of computer hardware and software, IT expenditure and training, management support, the perceived benefits of IT applications, perceived obstacles in IT implementation, and major criteria used in software selection. The content validity and measurement reliability of the questionnaire survey have been evaluated, and both of them have shown satisfactory results. This study provides an up‐to‐date and holistic view of the current state of IT applications among QS companies in Hong Kong, in terms of how well they have equipped with IT and their attitude towards adopting this technology. These findings provide a strong foundation for subsequent benchmarking studies to identify best practices among the quantity surveying profession in the construction industry. Based on the findings, this paper suggests major areas for improving IT usage in this sector of the construction industry.

Public housing in Hong Kong plays an essential role in accommodation supply to people of low income. Access to social resources and rent levels of nearby private residential housing are two critical issues impacting the well-being of residents living in public housing estates. However, previous research has rarely focused on the spatial distribution of public housing estates through exploring these two critical issues. On the other hand, Hong Kong is currently experiencing an urban renewal process. It would be beneficial to consider these critical issues for spatial allocation of public housing in urban renewal decision making. The purpose of this paper is to investigate these two critical issues in relation to the spatial distribution of public housing estates in Kowloon, Hong Kong.

Seven spatial variables were selected to reflect these critical issues. Spatial analysis in Geographic Information System was conducted to process the data required. Multiple logistic regression was employed to analyse the relationships between the spatial location of public housing estates and the seven selected variables.

Based on the analysis results, several problems as well as geographical advantages of the current location of public housing estates were discovered, which can be valuable references for decision making by government authorities for public housing development in the future.

This research is a pilot study on the spatial distribution of public housing estates and the critical influencing factors in Hong Kong, undertaken by applying both spatial analysis and statistical methods. It can help relevant decision makers deal with current problems of public housing location and make informed decisions on where to locate new housing projects in an urban renewal process, which can increase the equal distribution of social resources and improve the well-being of people living in public housing.

Industrialized construction (IC) leverages manufacturing principles and innovative processes to improve the performance of construction projects. Though IC is gaining popularity in the global construction industry, studies that establish the best practices for implementing IC projects are scarce. This study aims to benchmark practical lifecycle-based best practices for implementing IC projects.

The study used a qualitative research design where nine IC cases from Australia, Singapore and Hong Kong were analysed to identify best practices. The methodological framework of the study followed well-established case study research cycle and guidelines, including planning, data collection, data analysis and reflection on findings.

The study identified and allocated key considerations, relevant stakeholders, best practices, typical deliverables and best indicators to the different construction lifecycle phases of IC projects. It also developed a lifecycle-based framework of the best practices for IC projects.

The study provides practitioners with practical insight into how best to effectively implement, manage and evaluate the performance of the IC project lifecycle phases. The proposed framework can serve as a practical diagnostic tool that enables project partners to evaluate the performance upfront progressively and objectively in each project lifecycle phase, which may inform timely corrective actions.

The study’s novelty lies in developing a framework that identifies and demonstrates the dynamic linkages among different sets of best practices, typical outputs and best practice indicators across the IC project lifecycle phases.

Modular integrated construction (MiC) projects are co-created by a network of organizations and players providing different roles, information and activities throughout the supply chains. Hence, a successful delivery of MiC projects can hardly be decoupled from effective supply chain management (SCM). This study investigated the critical success determinants of effective SCM in MiC projects.

Comprehensive literature research and expert review identified 20 candidate success determinants, which formed the basis for a structured questionnaire survey of experts in eighteen countries. The study computed the mean scores, normalized mean values and significance indices of success determinants for SCM in MiC projects.

The analysis revealed that design for SCM, effective communication and information sharing, organizational readiness and familiarity with MiC, seamless integration and coordination of supply chain, early involvement of critical supply chain stakeholders and extensive supply chain planning are the top five critical success determinants of effective SCM in MiC projects. The 20 success determinants are categorized into five: project strategy, bespoke competencies, process management, stakeholder management and risk management.

The study has some limitations. The smaller sample size could affect the generalizability of the results. The generalized analysis of the success determinants overlooked their sensitivities to specific contexts, industry climates and project types.

The study established a novel set of critical success determinants for SCM in MiC projects that have not been explicitly discussed in the MiC success literature and described their hypothetical dynamic linkages. It contributes to a better understanding of how best to manage the MiC project supply chain effectively.

The purpose of this paper is to examine the causal relationship between the building maintenance market and GDP in Hong Kong.

The Granger causality test is used to investigate the lead‐lag relationships between the maintenance and repair work and GDP in Hong Kong. With regression analysis, the future trend of the maintenance market is forecasted.

The results show that the growth of the economy will lead to the growth of the maintenance market, not vice‐versa. And the building maintenance market in Hong Kong will keep increasing with the economy growth.

This paper shows that the growth of the economy in Hong Kong Granger‐causes the growth of the maintenance market. Plus there are other factors affecting the maintenance market, including the increasing number of ageing buildings, obsolescence and adaptive reuse, legislation, sustainability and social responsibility. The results of this paper provide a valuable reference for the Hong Kong Government to formulate new policies. More importantly, these findings will help contractors have a better understanding of the maintenance market in Hong Kong, both current and future.