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1 – 7 of 7My-Linh Thi Nguyen and Tuan Huu Nguyen
This study examines the evidence of the impact of climate change on the financial performance of basic materials companies in Vietnam.
Abstract
Purpose
This study examines the evidence of the impact of climate change on the financial performance of basic materials companies in Vietnam.
Design/methodology/approach
The research sample includes eighty-two basic materials companies listed on the Vietnamese stock market from 2003 to 2022. This study used one-way and two-way fixed-effects feasible generalized least squares (FGLS) estimation methods.
Findings
Climate change, measured through variables including changes in temperature, average rainfall, greenhouse gas emissions and rising sea levels, has a negative impact on the financial performance of companies in this industry. The study also found that, with rising temperatures, the financial performance of steel manufacturing companies decreased less than that of coal mining and forestry companies, but increasing greenhouse gases and rising sea levels reduced the financial performance of steel companies. We did not find evidence of any difference in the impact of climate change on the financial performance of basic materials companies before and after the UN Climate Change Conference (COP 21). This is a new finding, which is consistent with empirical studies in Vietnam and different from previous studies in that it provides new evidence on the impact of climate change on the financial performance of basic materials companies in the Vietnamese market and cross-checks the impact of climate change by sector and over time.
Originality/value
To the best of our knowledge, this is one of the first articles on climate change and the financial performance of basic materials companies.
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Jones Nyame Aboagye, Ernest Kissi, Alex Acheampong and Edward Badu
This research aims to evaluate the status of project management best practices in the road infrastructure sector of Ghana through the inquiry of project managers’ competency.
Abstract
Purpose
This research aims to evaluate the status of project management best practices in the road infrastructure sector of Ghana through the inquiry of project managers’ competency.
Design/methodology/approach
Based on a thorough literature review on competency and project management best practices, a criterion for measuring best practices based on the competencies was identified. Using closed-ended questionnaires as a survey instrument, data was collected and analyzed using a one-sample t-test, Kendall’s concordance coefficient and simple regression.
Findings
The key finding reveals that in achieving project management best practices for the Ghanaian road infrastructure projects, project managers should straighten and strengthen their capability in terms of skills, personal characteristics and knowledge as ranked. An appropriate blend of these characteristics would be a necessary requirement for project managers. Through this, project managers and project-based road infrastructure organizations will be able to win the confidence of their stakeholders and attain improvements in cost-effectiveness, quality and time management.
Research limitations/implications
This study provides project managers in the road infrastructure sector with relevant information on which criteria and variables are critical and are frequently required to manage such projects. This will be helpful for training programs and professional development of project managers in the road infrastructure sector.
Originality/value
The study provides a new direction and focuses for project managers in the road infrastructure industry toward best project management practices in developing countries. It also complements existing studies in this area which deepen the understanding of the subject area.
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This paper aims to examine the effect of family control on corporate anticorruption disclosures of UK publicly listed firms and whether female board directors moderate the latter…
Abstract
Purpose
This paper aims to examine the effect of family control on corporate anticorruption disclosures of UK publicly listed firms and whether female board directors moderate the latter relationship.
Design/methodology/approach
This paper uses Poisson regression analysis for a sample of 1,546 FTSE 350 firm-year observations. Weighted least squares and propensity score matching are then used to assess the robustness of the findings.
Findings
The results show that family ownership and involvement are negatively associated with anticorruption disclosures. The tests of moderation indicate that female directors decrease the negative effect of family control on anticorruption disclosures.
Originality/value
To the best of the researcher’s knowledge, this paper is the first to investigate the impact of family control on anticorruption disclosures while taking into consideration the moderating effect of female directors.
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Malik Lakshan Hasantha, Anuradha Samarajeewa Waidyasekara and Hasith Chathuranga Victar
Insufficient time allocation for the bidding period occurs, causing drawbacks to both parties, the client and the bidder. Hence, this study aims to evaluate the time allocated for…
Abstract
Purpose
Insufficient time allocation for the bidding period occurs, causing drawbacks to both parties, the client and the bidder. Hence, this study aims to evaluate the time allocated for preparing a bid proposal as per the National Competitive Bidding (NCB) in the Sri Lankan context.
Design/methodology/approach
The study has adopted a mixed method approach and expert interviews and document review to detect, analyse and validate the issues, and solutions based on NCB along with the adequacy of the allocated bidding period used as main data collection tools. Both qualitative and quantitative data were analysed through manual content analysis and inferential analysis respectively.
Findings
Overall, 24 local issues with the existing competitive bidding process and solutions for each were identified. Among the 24 local issues, it was unanimously agreed by all interviewees that three specific issues require attention and improvement. These issues are related to the standard and incompleteness of bidding documents, inaccurate BOQ quantities measured by the consultant or the main contractor, and the excessive number of bidding document amendments by the consultant. It was revealed that a maximum of 42 calendar days (6 weeks) is sufficient for the bidding process while a minimum of 21 calendar days (3 weeks) is insufficient.
Originality/value
The findings of this study would be recommended that Information and Communication Technology Agency (ICTA) understand the necessity of revising the NCB reference to the time allocated for the preparation of bids. By recognising the importance of sufficient time allocation for bid preparation, this research serves as a practical guide for authorities involved in policy formulation, aiding them in implementing revisions that align with the dynamic requirements of bidding procedures.
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Olfa Ben Salah and Anis Jarboui
The objective of this paper is to investigate the direction of the causal relationship between dividend policy (DP) and earnings management (EM).
Abstract
Purpose
The objective of this paper is to investigate the direction of the causal relationship between dividend policy (DP) and earnings management (EM).
Design/methodology/approach
This research utilizes the panel data analysis to investigate the causal relationship between EM and DP. It provides empirical insights based on a sample of 280 French nonfinancial companies listed on the CAC All-Tradable index during the period of 2008–2015. The study initiates with a Granger causality examination on the unbalanced panel data and employs a dynamic panel approach with the generalized method of moments (GMM). It further estimates the empirical models simultaneously using the three-stage least squares (3SLS) method and the iterative triple least squares (iterative 3SLS) method.
Findings
The estimation of our various empirical models confirms the presence of a bidirectional causal relationship between DP and EM.
Practical implications
Our study highlights the prevalence of EM in the French context, particularly within DP. It underscores the need for regulatory bodies, the Ministry of Finance, external auditors and stock exchange organizers to prioritize governance mechanisms for improving the quality of financial information disclosed by companies.
Originality/value
This research is, to the best of our knowledge, the first is to extensively investigate the reciprocal causal relationship between DP and EM in France. Previous studies have not placed a significant emphasis on exploring this bidirectional link between these two variables.
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Bryan Pieterse, Kofi Agyekum, Patrick Manu, Saeed Reza Mohandes, Clara Cheung and Akilu Yunusa-Kaltungo
Major maintenance projects are often regarded as maintenance activities regardless of the projects' complexity and scale. Consequently, very scarce research attention has hitherto…
Abstract
Purpose
Major maintenance projects are often regarded as maintenance activities regardless of the projects' complexity and scale. Consequently, very scarce research attention has hitherto been paid to the critical skills required when undertaking these projects. More specifically, the body of relevant knowledge is deprived of a study focusing on maintenance projects within the energy sector. In view of this shortcoming, this research aims to examine the critical project management (PM) skills required to deliver major maintenance projects within the energy sector.
Design/methodology/approach
Based on a quantitative research strategy, this study addressed the knowledge gap through a cross-sectional survey of professionals involved in the delivery of major maintenance projects in the United Kingdom's (UK) energy sector. Data obtained were analyzed via descriptive (e.g. frequencies, mean and standard deviation [SD]) and inferential statistical analyses (One sample t-test and exploratory factor analysis (EFA)).
Findings
Out of the 45 PM skills identified in the literature and examined by the respondents, the results obtained from the One sample t-test (based on p (1-tailed) = 0.05) showed that 37 were considered to be at least “important,” accounting for 80.4% of all the skills identified. EFA revealed a clustering of the PM skills items into seven components: “skills related to work scheduling and coordination”; “communication, risk, safety and stakeholder management skills”; “quality assurance skills”; “people management skills”; “skills related to forecasting scope and duration of outage”; “implementation of processes and time management skills” and “technical/engineering skills and experience pertaining to the outage and local site knowledge.”
Originality/value
This study has identified and contributed to the limited state-of-the-art skills project managers must possess to manage major maintenance projects in the energy sector successfully. The findings would be useful to organizations within the energy sector in ensuring that the organizations have suitable personnel in place to deliver major maintenance projects on the organizations' assets.
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This study aims to examine the relationship between carbon reduction initiatives and financial performance. Additionally, it explores potential moderating variables, such as…
Abstract
Purpose
This study aims to examine the relationship between carbon reduction initiatives and financial performance. Additionally, it explores potential moderating variables, such as corporate social responsible (CSR) strategy and corporate governance practices, that may strengthen the link between carbon reduction initiatives and financial performance.
Design/methodology/approach
The empirical analysis is conducted using 1,740 firm-year observations from UK firms listed on the FTSE 350. Data on carbon emissions and firm-specific characteristics are obtained from the Refinitiv Eikon database for the period 2011–2020. Various econometric techniques, including ordinary least squares and system generalized method of moments, are used to examine the relationship between carbon reduction initiatives and financial performance. Additionally, alternative samples are used to further explore this relationship.
Findings
The author observes a significantly positive association between carbon reduction initiatives and financial performance in this study. Additionally, the significance of this relationship is found to be present specifically after the announcement of the Paris Agreement. Furthermore, a channel analysis reveals that moderating factors like CSR strategy and corporate governance quality influence this relationship.
Practical implications
The study underscores the importance of carbon reduction initiatives for sustainable business growth and financial performance. Managers can use these insights to prioritize investments in sustainable practices. Policymakers should consider implementing supportive regulations to incentivize companies to adopt carbon reduction strategies.
Originality/value
This study adds value to the existing body of literature by empirically examining the moderating role of CSR strategy and best corporate governance practices in the relationship between carbon reduction initiatives and financial performance. The findings contribute to a deeper understanding of how these factors interact and influence the outcomes.
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