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1 – 10 of over 2000Sou-Sen Leu, Kuang-Jen Huang, Cathy Chang-Wei Hung and Pei-Lin Wu
In recent years, cost overrun becomes a common problem in steel building construction projects. The average percentage can vary widely depending on the project type, size…
Abstract
Purpose
In recent years, cost overrun becomes a common problem in steel building construction projects. The average percentage can vary widely depending on the project type, size, complexity and location. The steel structure change ratio in Taiwan is from 1 to 18% in statistics. The contractors always put every possible effort into preventing or mitigating project cost overruns, and one of the approaches is an accurate cost overrun risk estimate. Traditional project cost overrun risk assessment models mainly focus on macro-level evaluation and may not function well for the project-specific level (micro-level). This study creates a network-like connection model between the outcome (i.e. cost overrun risk) and the associated root causes in which the project status evaluation checklists of design, manufacturing, construction and interfaces are used to evaluate the checklists' influences through the Bayesian network (BN) composed by intermediate causes.
Design/methodology/approach
Due to the constraint of data availability, BN nodes, relationships and conditional probabilities are defined to establish a BN-based steel building project cost overrun assessment model following the knowledge of experts. Because of the complexity of the BN, the construction of the BN structure is first to build BN's fault tree (FT) hierarchy. And then, basic BN framework is constructed by the transformation of the FT hierarchy. Furthermore, some worthwhile additional arcs among BN nodes are inserted if necessary. Furthermore, conditional probability tables (CPTs) among BN nodes are explored by experts following the concept of the ranked node. Finally, the BN-based model was validated against the final cost analysis reports of 15 steel building projects done in Taiwan and both were highly consistent. The overall BN-based model construction process consists of three steps: (1) FT construction and BN framework transformation, (2) CPT computation and (3) model validation.
Findings
This study established a network-like bridge model between the outcome (i.e. cost overrun risk) and the root causes in a network of which cost influences are evaluated through the project-specific status evaluation checklists of design, manufacturing, construction and interfaces. This study overcame several limitations of the previous cost overrun risk assessment models: (1) few past research support assessment of cost overrun based on real-time project-owned data and (2) the traditional causal models inadequately depict interdependencies among influence factors of cost overrun at the network. The main influence factors of the cost overrun risk at the steel building projects in Taiwan were also examined using sensitivity analysis. The main root causes of cost overrun in steel building projects are design management and interface integration.
Originality/value
The proposed model belongs to the project-specific causal assessment model using real-time project-owned status checklist data as input. Such a model was seldom surveyed in the past due to the complicated interdependence among causes in the network. For practical use, a convenient and simple regression equation was also developed to forecast the cost overrun risk of the steel building project based on the root causes as input. Based on the analysis of cost overrun risk and significant influence factors, proper tailor-made preventive strategies are established to reduce the occurrence of cost overrun at the project.
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Grzegorz Zimon, Mahdi Salehi and Samaneh Kalateh Arabi
This paper aims to investigate the relationship between the impact of COVID-19 on the performance of financial managers of medium and large companies.
Abstract
Purpose
This paper aims to investigate the relationship between the impact of COVID-19 on the performance of financial managers of medium and large companies.
Design/methodology/approach
This research used the data of 173 listed large and over-the-counter as medium-size companies from 2018 to 2021. The results of these tests have been analyzed using panel data and STATA 15 software.
Findings
The results showed that COVID-19 has no significant relationship with the return on equity in large and medium-size companies. This variable does not significantly affect Tobin’s Q index in medium-size companies either. Other financial indicators examined in this research have decreased considerably in all companies under the influence of COVID-19. Still, the intensity of this effect is different in large and medium-size companies. Funds from borrowings and Tobin’s Q ratios in medium-size companies compared with large companies have been more severely affected by the COVID-19 disease; the return on assets, book value to market value and large companies compared with medium-size companies have been more severely and significantly affected by COVID-19; and financing funds through the issuance of shares in large companies and medium-size companies have been affected by COVID-19 almost equally.
Originality/value
Despite the studies related to financial crises and their effect on the performance of companies, no research has examined the financial performance indicators during the outbreak of COVID-19 in large and small companies. Therefore, the results of this research can affect different groups: financial managers and the board of directors of companies to better understand the impact of the corona disease on the company’s performance; investors benefit from research results in line with investment decisions; developing theory and educational topics for the benefit of students and studying and conducting more experimental research in this regard; and the stock exchange organization and regulatory and support institutions need to find out the depth of the disaster and the effect of COVID-19 on the performance of companies.
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Mohamed Beneldjouzi, Mohamed Hadid and Nasser Laouami
Several studies were made on paired site and soil–structure interaction (SSI) effects, but most of them were site specific. This paper aims to investigate the impact of SSI…
Abstract
Purpose
Several studies were made on paired site and soil–structure interaction (SSI) effects, but most of them were site specific. This paper aims to investigate the impact of SSI effects in conjunction with local soil condition effects on the seismic response of typical multistory low- to mid-rise–reinforced concrete (RC) buildings resting on Algerian regulatory design sites through a global explicit transfer function (TF).
Design/methodology/approach
A preliminary quantification of SSI effects associated with site effects is carried out through a frequency-domain solution based on the concept of rock-to-soil surface displacement TF performed for each design site category. It results from the combination of the TFs of structure, foundation and soil and reflects how seismic waves are amplified due to changes in the geological contrast between the rock and overlying soil deposits. As well, response modification factors, denoting displacement ratios of the building responses within the flexible and site-structure conditions with respect to the fixed-base one, are carried out.
Findings
In the context of Algerian seismic regulation, the study provides a clear vision of how and when site or SSI effects are expected to be influential, as opposed to the fixed-base hypothesis still retained by the current regulation. This helps engineers to be aware of the extent of the expected seismic damage.
Research limitations/implications
The research applies to low- to mid-rise RC buildings within the Algerian seismic regulation, but it may also be expanded to other examples that fall under other seismic regulations.
Practical implications
The response modification ratio is a quantitative approach to assessing response fluctuations. It draws attention to how the roof level drift varies depending on the condition. These results can be used as numerical parameters in structural seismic design when the structure is comparable because they provide useful information about how the two phenomena interact with the structure.
Originality/value
The study goes beyond particular situations dealing with site specific and offers effective indicators and quantitative evaluation of combined site and SSI effects according to the current national seismic provisions, where no indication about site or SSI effects exists.
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Francesco Busato, Maria Ferrara and Monica Varlese
This paper analyzes real and welfare effects of a permanent change in inflation rate, focusing on macroprudential policy’ role and its interaction with monetary policy.
Abstract
Purpose
This paper analyzes real and welfare effects of a permanent change in inflation rate, focusing on macroprudential policy’ role and its interaction with monetary policy.
Design/methodology/approach
While investigating disinflation costs, the authors simulate a medium-scale dynamic general equilibrium model with borrowing constraints, credit frictions and macroprudential authority.
Findings
Providing discussions on different policy scenarios in a context where still it is expected high inflation, there are three key contributions. First, when macroprudential authority actively operates to improve financial stability, losses caused by disinflation are limited. Second, a Taylor rule directly responding to financial variables might entail a trade-off between price and financial stability objectives, by increasing disinflation costs. Third, disinflation is welfare improving for savers, while costly for borrowers and banks. Indeed, while savers benefit from policies reducing price stickiness distortion, borrowers are worried about credit frictions, coming from collateral constraint.
Practical implications
The paper suggests threefold policy implications: the macroprudential authority should actively intervene during a disinflation process to minimize costs and financial instability deriving from it; policymakers should implement a disinflationary policy stabilizing also output; the central bank and the macroprudential regulator should pursue financial and price stability goals, separately.
Originality/value
This paper is the first attempt to study effects of a permanent inflation target reduction in focusing on the macroprudential policy’ role.
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Balamurali Kanagaraj, N. Anand, Johnson Alengaram and Diana Andrushia
The present work focuses on evaluating the physical and mechanical characteristics of geopolymer concrete (GPC) by replacing the sodium silicate waste (SSW) in place of…
Abstract
Purpose
The present work focuses on evaluating the physical and mechanical characteristics of geopolymer concrete (GPC) by replacing the sodium silicate waste (SSW) in place of traditional river sand. The aim is to create eco-friendly concrete that mitigates the depletion of conventional river sand and conserves natural resources. Additionally, the study seeks to explore how the moisture content of filler materials affects the performance of GPC.
Design/methodology/approach
SSW obtained from the sodium silicate industry was used as filler material in the production of GPC, which was cured at ambient temperature. Instead of the typical conventional river sand, SSW was substituted at 25 and 50% of its weight. Three distinct moisture conditions were applied to both river sand and SSW. These conditions were classified as oven dry (OD), air dry (AD) and saturated surface dry (SSD).
Findings
As the proportion of SSW increased, there was a decrease in the slump of the GPC. The setting time was significantly affected by the higher percentage of SSW. The presence of angular-shaped SSW particles notably improved the compressive strength of GPC when replacing a portion of the river sand with SSW. When exposed to elevated temperatures, the performance of the GPC with SSW exhibited similar behavior to that of the mix containing conventional river sand, but it demonstrated a lower residual strength following exposure to elevated temperatures.
Originality/value
Exploring the possible utilization of SSW as a substitute for river sand in GPC, and its effects on the performance of the proposed mix. Analyzing, how varying moisture conditions affect the performance of GPC containing SSW. Evaluating the response of the GPC with SSW exposed to elevated temperatures in contrast to conventional river sand.
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Ziming Zhou, Fengnian Zhao and David Hung
Higher energy conversion efficiency of internal combustion engine can be achieved with optimal control of unsteady in-cylinder flow fields inside a direct-injection (DI) engine…
Abstract
Purpose
Higher energy conversion efficiency of internal combustion engine can be achieved with optimal control of unsteady in-cylinder flow fields inside a direct-injection (DI) engine. However, it remains a daunting task to predict the nonlinear and transient in-cylinder flow motion because they are highly complex which change both in space and time. Recently, machine learning methods have demonstrated great promises to infer relatively simple temporal flow field development. This paper aims to feature a physics-guided machine learning approach to realize high accuracy and generalization prediction for complex swirl-induced flow field motions.
Design/methodology/approach
To achieve high-fidelity time-series prediction of unsteady engine flow fields, this work features an automated machine learning framework with the following objectives: (1) The spatiotemporal physical constraint of the flow field structure is transferred to machine learning structure. (2) The ML inputs and targets are efficiently designed that ensure high model convergence with limited sets of experiments. (3) The prediction results are optimized by ensemble learning mechanism within the automated machine learning framework.
Findings
The proposed data-driven framework is proven effective in different time periods and different extent of unsteadiness of the flow dynamics, and the predicted flow fields are highly similar to the target field under various complex flow patterns. Among the described framework designs, the utilization of spatial flow field structure is the featured improvement to the time-series flow field prediction process.
Originality/value
The proposed flow field prediction framework could be generalized to different crank angle periods, cycles and swirl ratio conditions, which could greatly promote real-time flow control and reduce experiments on in-cylinder flow field measurement and diagnostics.
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Parisa Mousavi, Mehdi Shamizanjani, Fariborz Rahimnia and Mohammad Mehraeen
Customer experience management (CXM), which aims to achieve and maintain customers' long-term loyalty, has attracted the attention of many organizations. Improving customer…
Abstract
Purpose
Customer experience management (CXM), which aims to achieve and maintain customers' long-term loyalty, has attracted the attention of many organizations. Improving customer experience management in organizations requires that, first, their relevant capabilities be evaluated. The present study aimed to offer a set of key performance indicators for evaluating customer experience management in commercial banks.
Design/methodology/approach
The study, first, attempted to identify the components of evaluating customer experience management by reviewing the related literature and conducting interviews with experts. Then, the extracted components were transformed into assessable metrics using the goal question metric method, and the key performance indicators relevant to customer experience management in commercial banks were selected according to the experts' opinions and the Fuzzy Delphi method.
Findings
According to the findings of the study, 21 key performance indicators were identified for customer experience management in commercial banks, and customer satisfaction, the mean number of calls to resolve an issue in customer journey touchpoints, the NPS, and the ratio of the budget allocated to the CXM department to the budget of the marketing department were found as the most significant performance indicator according to banking experts.
Originality/value
The present study was among the first research projects intended to evaluate CXM and offer key performance indicators that could help the managers of commercial banks assess the maturity levels of their CXM.
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Prakash Shrestha, Dilip Parajuli and Bibek Raj Adhikari
This paper aims to examine the current quality of work-life (QWL) situation and the effectiveness of labor laws for promoting QWL in the context of Nepalese workplaces.
Abstract
Purpose
This paper aims to examine the current quality of work-life (QWL) situation and the effectiveness of labor laws for promoting QWL in the context of Nepalese workplaces.
Design/methodology/approach
It uses a descriptive-interpretative-qualitative approach to analyze the responses. Information is gathered through discussions with 85 higher- and middle-level managers of large and medium-sized organizations.
Findings
The majority of Nepalese organizations accept safe and healthy working conditions, social relevance of work-life, social integration in the work organization, and work and total life space as the key aspects of QWL. They have become even more critical as a result of the COVID-19 pandemic. However, they face challenges in providing employees with opportunities for continued growth and security, immediate opportunity to use and develop human capacities, adequate and fair compensation and constitutionalism in the work organization. QWL-related provisions in Labour Act, 2017, play a vital role in promoting the QWL situation. The QWL programs offer many benefits to employees’ private and working lives. The lack of such programs would undoubtedly have negative consequences for Nepalese companies. Compliance with labor laws will promote a better QWL situation at Nepalese workplaces.
Research limitations/implications
Only managerial perspectives are considered for examining the current situation of QWL and the effectiveness of QWL-related provisions of the Labour Act, 2017. It excludes the views of union leaders.
Practical implications
This paper indicates that labor laws’ QWL-related provisions are effective. It also provides several policy measures for promoting a better QWL in Nepalese workplaces.
Originality/value
This study presents QWL-related legal provisions and the actual situation at the workplaces of Nepal. It also presents the key aspects of QWL in the context of Nepal.
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Ming-Chang Wang, Yu-Feng Hsu and Hsiang-Ying Chien
This study investigates the media activities of firms issuing private equity placements and seasoned equity offerings in Taiwan, as firms have incentives to manage media coverage…
Abstract
Purpose
This study investigates the media activities of firms issuing private equity placements and seasoned equity offerings in Taiwan, as firms have incentives to manage media coverage to influence their stock prices during private equity placement.
Design/methodology/approach
We collect a corpus of news stories and transform the news into term sets based on the part of speech. Then, we refer to Cecchini et al. (2010) to classify the news terms into positive, negative, and usual categories. Next, we employ the SVM algorithm to perform the classification tasks and the term frequency method to perform the text mining task. In last, we use a multiple regression model to verify the hypotheses.
Findings
We determine that issuing firms in a private placement have substantially more positive news stories and fewer negative news stories than those in public offerings. Furthermore, we evidence that the media management effects of postequity issues are more active than those of preequity issues. Finally, our results demonstrate that the timing and content of financial media coverage among different equity issuance methods may be biased by firm management. According to previous studies, they may attempt to manipulate stock prices to increase the number of highly profitable insider stakeholders.
Originality/value
To our knowledge, this is the first study to investigate that if private placement will associate with more active media management than the public offerings. According to our results of the difference-in-means test, the public offerings market may control news coverage; however, this result is inconsistent with that of the regression results. The private placements market may also exercise media management in the “before announcement day” and “after announcement day” periods by increasing positive news and reducing negative news.
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Cari Burke-Kolehmainen and Melissa Intindola
Within the context of the nonprofit resiliency framework, the authors use nonprofit functional expenses and contribution revenue to explore how the COVID-19 pandemic affected the…
Abstract
Purpose
Within the context of the nonprofit resiliency framework, the authors use nonprofit functional expenses and contribution revenue to explore how the COVID-19 pandemic affected the ability of nonprofits in different subsectors to carry out their mission, as well as their ability to “pivot” fundraising strategies to integrate social media and digital engagement.
Design/methodology/approach
The authors use IRS form 990 return data for organizations with a year-end return that includes at least six months of COVID-19 impact (“Wave 1 Effects” period) and also have a prior-year return (“Business as Usual” period). The authors use Wilcoxon signed rank tests to examine whether there are differences in our variables of interest between the two periods.
Findings
While the majority of nonprofits in most subsectors experienced a significant decrease in program spending, fundraising spending and fundraising efficiency ratios between the two time periods, the authors found variation in the change in contribution revenue and fundraising ratio between the two periods between subsectors. The authors also find that the percentage of nonprofits able to “pivot” their fundraising strategies varies by subsector between 13.33 and 31.23%.
Originality/value
This paper provides new information regarding the pandemic's initial effect on nonprofit program and fundraising spending, the related contribution revenue and the ability of nonprofits to “pivot” fundraising to remote strategies. The authors propose a more robust fundraising efficiency measure and a new measure indicating a nonprofit's “ability to pivot” their fundraising strategy. The authors encourage future researchers to conduct further longitudinal studies to understand how these effects may continue or change.
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