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Article
Publication date: 30 October 2023

Guido Migliaccio and Andrea De Palma

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real…

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Abstract

Purpose

This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.

Design/methodology/approach

The analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.

Findings

The study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.

Research limitations/implications

In the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.

Practical implications

Public policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.

Social implications

The research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.

Originality/value

The study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.

Details

International Journal of Productivity and Performance Management, vol. 73 no. 11
Type: Research Article
ISSN: 1741-0401

Keywords

Article
Publication date: 2 January 2024

Andreas Wibowo

This paper delves into the ex ante rates of return demanded by the private sector in Indonesian public–private partnership (PPP) infrastructure projects and the manifold factors…

Abstract

Purpose

This paper delves into the ex ante rates of return demanded by the private sector in Indonesian public–private partnership (PPP) infrastructure projects and the manifold factors emanating from project attributes that can influence these rates.

Design/methodology/approach

This paper analyzes feasibility studies of 37 PPP projects across different sectors. The studies were carefully selected based on relevance, completeness and validity of data. The analysis uses statistical techniques, including Levene’s tests, t-tests, ANOVA tests, Cohen’s effect size and Pearson correlations, to explore differences in cost of capital and excess returns across various attributes.

Findings

Based on the statistical analysis, no significant difference exists between the excess return of 200 basis points (bps) and the equity excess return of 0 bps. This suggests that the eligibility criteria for PPP projects require an internal rate of return (IRR) equal to the weighted average cost of capital plus 200 bps or an equity IRR equal to the cost of equity. The variations in the tested variables among diverse project attributes do not exhibit statistically significant disparities, even though specific attributes display moderate to high effect sizes.

Originality/value

This paper represents one of the first attempts to examine the rates of return demanded by the private sector in the context of Indonesian PPP projects. It comprehensively explores the factors that influence these rates, drawing on insights derived from feasibility studies.

Details

Built Environment Project and Asset Management, vol. 14 no. 2
Type: Research Article
ISSN: 2044-124X

Keywords

Article
Publication date: 12 March 2024

Sadia Jahanzeb, Dave Bouckenooghe, Tasneem Fatima and Madiha Akram

Drawing on social exchange literature, this study explores the mediating role of affective commitment between employees' assessments of contract breaches and opportunistic…

Abstract

Purpose

Drawing on social exchange literature, this study explores the mediating role of affective commitment between employees' assessments of contract breaches and opportunistic silence, along with the invigorating effect of hostile attribution bias.

Design/methodology/approach

We tested the hypotheses using multi-wave data collected from employees working in higher education institutions in Pakistan.

Findings

Perceived contract breaches elicit intentional, selfish and retaliatory motives of silence, largely because employees lack emotional attachments to their organization. This mechanism is more prominent among employees who tend to blame others and perceive them as antagonistic even when they are not.

Practical implications

For human resource managers, this investigation highlights a crucial feature – affective commitment – by which employees' perceptions of psychological contract breaches facilitate opportunistic silence. Our results suggest that this process is more likely to intensify when employees have distorted thinking, motivating them to attribute the worst motives to their employer's actions.

Social implications

Perceived contract breaches within universities can have far-reaching societal consequences, affecting trust, reputation, economic stability, and the overall quality and accessibility of education and research. Addressing and preventing such breaches is essential to maintaining the positive societal role of universities.

Originality/value

This study provides novel insights into the process that underlies the connection between perceived contract breach and opportunistic silence by revealing the hitherto overlooked role of employees' hostile attribution bias, which renders them more susceptible to experiencing unfavorable forms of social exchange.

Details

Personnel Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0048-3486

Keywords

Article
Publication date: 11 January 2024

Xiaolong Yuan, Feng Wang, Mianlin Deng and Wendian Shi

Based on conservation of resources (COR) theory, this study aims to examine the impact of daily illegitimate tasks on employees' daily silence and daily voice behavior, as well as…

Abstract

Purpose

Based on conservation of resources (COR) theory, this study aims to examine the impact of daily illegitimate tasks on employees' daily silence and daily voice behavior, as well as the mediating role of daily ego depletion and the moderating role of trait mindfulness.

Design/methodology/approach

Through daily diary approach, 81 employees were followed for 10 consecutive workdays. Multilevel analysis was employed to examine the hypothesized relationships.

Findings

The results showed that daily illegitimate tasks are positively related to daily silence behavior and negatively related to daily voice behavior; daily ego depletion plays a mediating role in these relationships. Trait mindfulness moderates the effect of daily illegitimate tasks on daily ego depletion and the indirect effect of daily illegitimate tasks on daily silence and daily voice.

Practical implications

Managers should be mindful of minimizing the assignment of illegitimate tasks. Additionally, it is recommended that the organization provide training courses for employees to help them reduce ego depletion. Finally, organizations should focus on fostering high levels of mindfulness among their employees.

Originality/value

This study contributes to the existing literature by investigating the immediate impact of illegitimate tasks on employee voice and silence at within-person level. By doing so, it enhances comprehension of the consequences associated with illegitimate tasks. Meanwhile, this study offers additional insights into the underlying mechanisms and boundary conditions of the effect of illegitimate tasks from a resource perspective.

Details

Journal of Managerial Psychology, vol. 39 no. 1
Type: Research Article
ISSN: 0268-3946

Keywords

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