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Article
Publication date: 6 February 2024

Moslem Sheikhkhoshkar, Hind Bril El Haouzi, Alexis Aubry and Farook Hamzeh

In academics and industry, significant efforts have been made to lead planners and control teams in evaluating project performance and control. In this context, numerous control…

Abstract

Purpose

In academics and industry, significant efforts have been made to lead planners and control teams in evaluating project performance and control. In this context, numerous control metrics have been devised and put into practice, often with little emphasis on analyzing their underlying concepts. To cover this gap, this research aims to identify and analyze a holistic list of control metrics and their functionalities in the construction industry.

Design/methodology/approach

A multi-step analytical approach was conducted to achieve the study’s objectives. First, a holistic list of control metrics and their functionalities in the construction industry was identified. Second, a quantitative analysis based on social network analysis (SNA) was implemented to discover the most important functionalities.

Findings

The results revealed that the most important control metrics' functionalities (CMF) could differ depending on the type of metrics (lagging and leading) and levels of control. However, in general, the most significant functionalities include managing project progress and performance, evaluating the look-ahead level’s performance, measuring the reliability and stability of workflow, measuring the make-ready process, constraint management and measuring the quality of construction flow.

Originality/value

This research will assist the project team in getting a comprehensive sensemaking of planning and control systems and their functionalities to plan and control different dynamic aspects of the project.

Details

Smart and Sustainable Built Environment, vol. 13 no. 3
Type: Research Article
ISSN: 2046-6099

Keywords

Book part
Publication date: 13 May 2024

Fisnik Morina, Albulena Syla and Sadri Alija

Purpose: This study analyses how investments and specific financial factors affect the financial performance of businesses in Kosovo. Exploring the relationship between…

Abstract

Purpose: This study analyses how investments and specific financial factors affect the financial performance of businesses in Kosovo. Exploring the relationship between investments and financial performance and their impact on performance volatility, performance is assessed using return on assets (ROA) and return on equity (ROE) investments.

Methodology: Quantitative methods using secondary data from audited financial statements of Kosova manufacturing and commercial enterprises cover a 3-year period (2019–2021), involving 40 enterprises with 120 observations. Statistical tests such as descriptive statistics, correlation analysis, linear regression, Hausman–Taylor regression, fixed effects, random effects, and generalised estimating equations (GEE) model are applied. The study also utilises ARCH–GARCH analysis to assess the relationship between investments and performance volatility.

Findings: Investments positively impact the financial performance of Kosova businesses and significantly reduce performance volatility. Long-term liabilities, retained earnings, and short-term liabilities also play a role in reducing asset return volatility, while cash flow from financial activities increases it. Investments, cash flows from financial activities, long-term liabilities, short-term liabilities, retained earnings, and solvency affect equity return volatility.

Practical Implications: The study sheds light on how investments and financial factors influence the financial performance and volatility of Kosova businesses. Policymakers can use these insights to create policies that foster the development of commercial and manufacturing enterprises, given their importance in Kosovo’s economy.

Significance: This research provides valuable insights for business managers to enhance investment strategies and improve financial performance. Policymakers can rely on this academic study to enhance the economic environment and promote the growth of businesses in Kosovo.

Details

VUCA and Other Analytics in Business Resilience, Part A
Type: Book
ISBN: 978-1-83753-902-4

Keywords

Article
Publication date: 29 December 2022

Sudhanshu Sekhar Pani

This paper aims to examine the dynamics of house prices in metropolitan cities in an emerging economy. The purpose of this study is to characterise the house price dynamics and…

Abstract

Purpose

This paper aims to examine the dynamics of house prices in metropolitan cities in an emerging economy. The purpose of this study is to characterise the house price dynamics and the spatial heterogeneity in the dynamics.

Design/methodology/approach

The author explores spatial heterogeneity in house price dynamics, using data for 35 Indian cities with a million-plus population. The research methodology uses panel econometrics allowing for spatial heterogeneity, cross-sectional dependence and non-stationary data. The author tests for spatial differences and analyses the income elasticity of prices, the role of construction costs and lending to the real estate industry by commercial banks.

Findings

Long-term fundamentals drive the Indian housing markets, where wealth parameters are stronger than supply-side parameters such as construction costs or availability of financing for housing projects. The long-term elasticity of house prices to aggregate household deposits (wealth proxy) varies considerably across cities. However, the elasticity estimated at 0.39 is low. The highest coefficient is for Ludhiana (1.14), followed by Bhubaneswar (0.78). The short-term dynamics are robust and show spatial heterogeneity. Short-term momentum (lagged housing price changes) has a parameter value of 0.307. The momentum factor is the crucial dynamic in the short term. The second driver, the reversion rate to long-term equilibrium (estimated at −0.18), is higher than rates reported from developed markets.

Research limitations/implications

This research applies to markets that require some home equity contributions from buyers of housing services.

Practical implications

Stakeholders can characterise stable housing markets based on long-term fundamental value and short-run house price dynamics. Because stable housing markets benefit all stakeholders, weak or non-existent mean reversion dynamics may prompt the intervention of policymakers. The role of urban planners, and local and regional governance, is essential to remove the bottlenecks from the demand side or supply side factors that can lead to runaway prices.

Originality/value

Existing literature is concerned about the risk of a housing bubble due to relaxed credit norms. To prevent housing market bubbles, some regulators require higher contributions from home buyers in the form of equity. The dynamics of house prices in markets with higher owner equity requirements vary from high-leverage markets. The influence of wealth effects is examined using novel data sets. This research, documents in an emerging market context, the observations cited in low-leverage developed markets such as Germany and Japan.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 3
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 12 April 2024

Eric Justice Eduboah

This paper aims to reexamine the relationship between financial openness and financial development in Ghana.

Abstract

Purpose

This paper aims to reexamine the relationship between financial openness and financial development in Ghana.

Design/methodology/approach

The study applied maximum likelihood estimation and autoregressive distributed lag approach and tested Granger causality using quarterly data from 1990:1 to 2020:4.

Findings

This study revealed a long-run equilibrium relationship between financial openness and development, indicating that financial openness is a critical factor in Ghana’s financial development. Therefore, the study recommends with caution that policies aimed at promoting financial openness could be an effective way to encourage sustainable financial development in Ghana, as financial openness alone may not bring the desired outcome.

Research limitations/implications

The study contributes to the existing body of knowledge by providing empirical evidence of the link between financial openness and financial sector development in Ghana. Future research could delve deeper into the mechanisms through which financial openness affects financial development, exploring potential channels and transmission mechanisms.

Practical implications

The findings suggest that policymakers, particularly the Ministry of Finance and the Bank of Ghana, should prioritize policies aimed at promoting financial openness. This includes continued efforts toward financial liberalization and creating an environment conducive to domestic and international financial transactions. Moreover, policies aimed at increasing trade openness, boosting real GDP and maintaining moderate real interest rates are essential for fostering financial sector development.

Social implications

Enhancing financial sector development can have significant implications for society, including increased access to financial services, improved economic opportunities and enhanced overall economic stability. By promoting financial openness and development, policymakers would contribute to poverty reduction, job creation and overall socio-economic development. The study bridges the gap between theory and practice by providing empirical evidence supporting the theoretical proposition that financial openness stimulates financial sector development.

Originality/value

This study fills a crucial gap in the literature on the effects of financial openness on Ghana’s financial sector development. It focuses on Ghana, which liberalized its financial sector in 1988 as part of the overall economic reforms in 1983, and this justifies the starting point of this paper in 1990, as there are no adequate data before 1990. The study uses principal component analysis to construct an index that measures financial development. The study considers the recent financial crises in Ghana in 2017 and underscores the importance of understanding the link between financial openness and financial development, which becomes useful for policymakers and researchers studying financial system development in sub-Saharan Africa which includes Ghana.

Details

Journal of Financial Economic Policy, vol. 16 no. 3
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 15 February 2024

Xin-Zhou Qi, Eric Ping Hung Li, Zhuangyu Wei and Zhong Ning

This study examines the impact of university science parks’ (USPs) capabilities on revenue generation and introduces regional innovation as a moderating variable. This study aims…

Abstract

Purpose

This study examines the impact of university science parks’ (USPs) capabilities on revenue generation and introduces regional innovation as a moderating variable. This study aims to provide insights into enhancing revenue generation and fully leveraging the role of USPs in promoting revenue generation.

Design/methodology/approach

This study employs system generalized method of moments (GMM) estimation for 116 universities in China from 2008 to 2020, using hierarchical regression analysis to examine the relationships between variables.

Findings

The findings suggest that USPs play a beneficial role in fostering revenue generation. Specifically, the provision of incubation funding demonstrates a positive correlation, while USPs size exhibits an inverted U-shaped pattern, with a threshold at 3.037 and a mean value of 3.712, highlighting the prevalent issue of suboptimal personnel allocation in the majority of USPs. Moreover, the analysis underscores the critical moderating influence of regional innovation, affecting the intricate interplay between USPs size, incubation funding and revenue generation.

Research limitations/implications

The single country (China) analysis relied solely on the use of secondary data. Future studies could expand the scope to include other countries and employ primary data collection. For instance, future research can further examine how regional development and USPs strategic plan impact revenue generation.

Practical implications

The study recommends that USPs managers and policymakers recognize the importance of incubation funding and determine the optimal quantity of USPs size to effectively foster revenue generation in USPs. Policymakers can use regional innovation as a moderating variable to reinforce the relationship between USPs size and incubation funding on revenue generation.

Social implications

The study’s findings can contribute to the strategic industry growth and economic development of nations by promoting revenue generation. Leveraging the role of USPs and implementing the study’s recommendations can strengthen innovation and technology capabilities, driving strategic industry growth and economic development. This can enhance global competitiveness and promote sustainable economic growth.

Originality/value

This study introduces regional innovation as a moderating variable and provides empirical evidence of its influence on the relationship between USPs size and incubation funding on revenue generation. This adds value to research to the existing literature on USPs and revenue generation by showcasing the importance of examining the regional impact in research and innovation.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 30 no. 5
Type: Research Article
ISSN: 1355-2554

Keywords

Open Access
Article
Publication date: 12 December 2023

Robert Mwanyepedza and Syden Mishi

The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary…

Abstract

Purpose

The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.

Design/methodology/approach

The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.

Findings

Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.

Originality/value

There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 7
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 7 May 2024

Irina Alexandra Georgescu, Simona Vasilica Oprea and Adela Bâra

In this paper, we aim to provide an extensive analysis to understand how various factors influence electricity prices in competitive markets, focusing on the day-ahead electricity…

Abstract

Purpose

In this paper, we aim to provide an extensive analysis to understand how various factors influence electricity prices in competitive markets, focusing on the day-ahead electricity market in Romania.

Design/methodology/approach

Our study period began in January 2019, before the COVID-19 pandemic, and continued for several months after the onset of the war in Ukraine. During this time, we also consider other challenges like reduced market competitiveness, droughts and water scarcity. Our initial dataset comprises diverse variables: prices of essential energy sources (like gas and oil), Danube River water levels (indicating hydrological conditions), economic indicators (such as inflation and interest rates), total energy consumption and production in Romania and a breakdown of energy generation by source (coal, gas, hydro, oil, nuclear and renewable energy sources) from various data sources. Additionally, we included carbon certificate prices and data on electricity import, export and other related variables. This dataset was collected via application programming interface (API) and web scraping, and then synchronized by date and hour.

Findings

We discover that the competitiveness significantly affected electricity prices in Romania. Furthermore, our study of electricity price trends and their determinants revealed indicators of economic health in 2019 and 2020. However, from 2021 onwards, signs of a potential economic crisis began to emerge, characterized by changes in the normal relationships between prices and quantities, among other factors. Thus, our analysis suggests that electricity prices could serve as a predictive index for economic crises. Overall, the Granger causality findings from 2019 to 2022 offer valuable insights into the factors driving energy market dynamics in Romania, highlighting the importance of economic policies, fuel costs and environmental regulations in shaping these dynamics.

Originality/value

We combine principal component analysis (PCA) to reduce the dataset’s dimensionality. Following this, we use continuous wavelet transform (CWT) to explore frequency-domain relationships between electricity price and quantity in the day-ahead market (DAM) and the components derived from PCA. Our research also delves into the competitiveness level in the DAM from January 2019 to August 2022, analyzing the Herfindahl-Hirschman index (HHI).

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 15 December 2022

Mumtaz Ali, Ahmed Samour, Foday Joof and Turgut Tursoy

This study aims to assess how real income, oil prices and gold prices affect housing prices in China from 2010 to 2021.

Abstract

Purpose

This study aims to assess how real income, oil prices and gold prices affect housing prices in China from 2010 to 2021.

Design/methodology/approach

This study uses a novel bootstrap autoregressive distributed lag (ARDL) testing to empirically analyze the short and long links among the tested variables.

Findings

The ARDL estimations demonstrate a positive impact of oil price shocks and real income on housing market prices in both the phrases of the short and long run. Furthermore, the results reveal that gold price shocks negatively affect housing prices both in the short and long run. The result can be attributed to China’s housing market and advanced infrastructure, resulting in a drop in housing prices as gold prices increase. Additionally, the prediction of housing market prices will provide a base and direction for housing market investors to forecast housing prices and avoid losses.

Originality/value

To the best of the authors’ knowledge, this is the first attempt to analyze the effect of gold price shocks on housing market prices in China.

Details

International Journal of Housing Markets and Analysis, vol. 17 no. 3
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 27 July 2023

Di Ke, Ximeng Jia, Yuanyuan Li and Peipei Wang

Taking a dynamic endogenous perspective, this study aims to examine neglected endogeneity issues in the relationship between corporate social responsibility (CSR) and brand value…

Abstract

Purpose

Taking a dynamic endogenous perspective, this study aims to examine neglected endogeneity issues in the relationship between corporate social responsibility (CSR) and brand value and the relationship’s moderation by corporate governance.

Design/methodology/approach

The study uses the three-stage least squares (3SLS) method on 990 samples of the 110 most valuable listed companies published by the World Brand Lab for 2013–2021 to empirically test the two-way interactive endogenous relationship between CSR and brand value.

Findings

The findings reveal that increasing investment in CSR increases brand value in the current period, which prompts companies to reduce investment in social responsibility, resulting in a decline in future brand value. Concerning the moderating effect of corporate governance variables, the size of the board of directors and the board’s proportion of independent directors positively regulate the relationship between CSR and brand value. By contrast, the proportion of executive shareholdings has a negative impact.

Originality/value

This study’s findings complement previous studies on endogeneity in the relationship between CSR and brand value, and enrich the literature on corporate governance, CSR and brand value as a whole. In addition, the study uses the 3SLS method, which avoids endogeneity problems and eliminates the one-sidedness of the subjective selection of instrumental variables.

Details

Chinese Management Studies, vol. 18 no. 3
Type: Research Article
ISSN: 1750-614X

Keywords

Article
Publication date: 29 November 2022

Xinliang Ye, Jing Wang and Ruihong Sun

The digital economy has become a key force supporting the high-quality development of tourism. This paper discusses the coupling coordination relationship and spatiotemporal…

Abstract

Purpose

The digital economy has become a key force supporting the high-quality development of tourism. This paper discusses the coupling coordination relationship and spatiotemporal evolution path of digital economy and tourism in China's provinces.

Design/methodology/approach

This paper uses the entropy method to measure the development level of digital economy and tourism, and establishes coupling coordination model and spatial autocorrelation model to study the interaction between the two industries.

Findings

Results show that the development levels of the two industries are rising, which spatially show a progressively decreasing pattern of east-middle-northeast-west. The coupling coordination degrees of the two industries have increased steadily, but the overall level is still near maladjusted. Spatially, the positive correlation is increasing, but the incongruity of spatial agglomeration is still significant. The coupling coordination evolution path in the provinces shows differentiated characteristics. The migration path is mainly concentrated in Zones I and II. The eastern region has an obvious trend of extending to Zone III, where the tourism industry was the most affected by the pandemic.

Practical implications

The study helps clarify the industrial coupling and coordination relationship in various regions and formulate regional tourism digital transformation strategies to promote the high-quality development of China's tourism industry.

Originality/value

This paper enriches the research on the relationship between digital economy and tourism from the perspective of industrial integration. The development commonality of China's tourism digital transformation summarized provides theoretical reference and demonstration for the coordinated development of China's tourism.

Details

European Journal of Innovation Management, vol. 27 no. 4
Type: Research Article
ISSN: 1460-1060

Keywords

1 – 10 of 334