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1 – 10 of over 5000Vassiliki Demetracopoulou, William J. O'Brien, Nabeel Khwaja, Jeffrey Feghaly and Mounir El Asmar
Over the last three decades, construction projects have increasingly been delivered through alternative delivery methods. As a result, many owners have a range of delivery methods…
Abstract
Purpose
Over the last three decades, construction projects have increasingly been delivered through alternative delivery methods. As a result, many owners have a range of delivery methods to choose from and aim to use the right one for each of their projects. Researchers have developed several tools and decision-support processes to facilitate this selection procedure. The purpose of this study is to review and discuss differences and common themes across selection tools developed by academic researchers and project owners.
Design/methodology/approach
The study reviews prominent selection processes and tools used for infrastructure projects by conducting an in-depth literature review and using the content analysis method to elicit findings on the methodologies and criteria presented in the literature.
Findings
This study presents three principal findings. First, findings show three common themes emerge within the selection criteria—characteristics, goals and risks. Second, while academic studies most commonly suggest employing multi-attribute analysis, this study reveals that, in practice, selection tools most frequently employ a staged or gated evaluation based on the type of criteria and their importance to the decision. Finally, this review further highlights the importance of institutional context in decision-making.
Originality/value
This work contributes to the body of knowledge by providing guidance to practitioners and opening new directions for researchers around the way selection criteria are categorized in the relevant literature and the institutional context considerations when structuring or evaluating a selection process or tool.
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Bruce E. Hansen and Jeffrey S. Racine
Classical unit root tests are known to suffer from potentially crippling size distortions, and a range of procedures have been proposed to attenuate this problem, including the…
Abstract
Classical unit root tests are known to suffer from potentially crippling size distortions, and a range of procedures have been proposed to attenuate this problem, including the use of bootstrap procedures. It is also known that the estimating equation’s functional form can affect the outcome of the test, and various model selection procedures have been proposed to overcome this limitation. In this chapter, the authors adopt a model averaging procedure to deal with model uncertainty at the testing stage. In addition, the authors leverage an automatic model-free dependent bootstrap procedure where the null is imposed by simple differencing (the block length is automatically determined using recent developments for bootstrapping dependent processes). Monte Carlo simulations indicate that this approach exhibits the lowest size distortions among its peers in settings that confound existing approaches, while it has superior power relative to those peers whose size distortions do not preclude their general use. The proposed approach is fully automatic, and there are no nuisance parameters that have to be set by the user, which ought to appeal to practitioners.
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Nayana Dissanayake, Bo Xia, Martin Skitmore, Bambang Trigunarsyah and Vanessa Menadue
The purpose of this study was to prioritize the appropriate generic contractor selection criteria for Engineering–Procurement–Construction (EPC) projects in the construction…
Abstract
Purpose
The purpose of this study was to prioritize the appropriate generic contractor selection criteria for Engineering–Procurement–Construction (EPC) projects in the construction industry.
Design/methodology/approach
Proceeding from a review of previous studies and validation by a small group of experts, a preliminary set of 16 criteria was first identified. This was followed by three rounds of Delphi surveys: firstly, with 64 experienced participants confirming the relevance of the 16 criteria; secondly, with a reduced subgroup of 47 more experienced participants scoring the importance of each; and finally, providing the opportunity for these 47 to revise their scores in the light of knowing the aggregated results of the previous round.
Findings
The results show the consensus view, of which the most important criteria are ranked as past performance, project understanding, technical attributes, key personnel, health and safety, past experience, time, management, financial, contractual and legal, quality, cost, relationships, environmental and sustainability, organizational and industrial relations, and geographic location.
Originality/value
The findings are useful for both practitioners and academics in making a significant contribution to the body of knowledge of the EPC process. This will assist in providing a better understanding of criteria importance and pave the way to developing an EPC contractor selection model involving the criteria most needed to objectively identify potential contractors and evaluate tenders.
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Chong Wu, Xiaofang Chen and Yongjie Jiang
While the Chinese securities market is booming, the phenomenon of listed companies falling into financial distress is also emerging, which affects the operation and development of…
Abstract
Purpose
While the Chinese securities market is booming, the phenomenon of listed companies falling into financial distress is also emerging, which affects the operation and development of enterprises and also jeopardizes the interests of investors. Therefore, it is important to understand how to accurately and reasonably predict the financial distress of enterprises.
Design/methodology/approach
In the present study, ensemble feature selection (EFS) and improved stacking were used for financial distress prediction (FDP). Mutual information, analysis of variance (ANOVA), random forest (RF), genetic algorithms, and recursive feature elimination (RFE) were chosen for EFS to select features. Since there may be missing information when feeding the results of the base learner directly into the meta-learner, the features with high importance were fed into the meta-learner together. A screening layer was added to select the meta-learner with better performance. Finally, Optima hyperparameters were used for parameter tuning by the learners.
Findings
An empirical study was conducted with a sample of A-share listed companies in China. The F1-score of the model constructed using the features screened by EFS reached 84.55%, representing an improvement of 4.37% compared to the original features. To verify the effectiveness of improved stacking, benchmark model comparison experiments were conducted. Compared to the original stacking model, the accuracy of the improved stacking model was improved by 0.44%, and the F1-score was improved by 0.51%. In addition, the improved stacking model had the highest area under the curve (AUC) value (0.905) among all the compared models.
Originality/value
Compared to previous models, the proposed FDP model has better performance, thus bridging the research gap of feature selection. The present study provides new ideas for stacking improvement research and a reference for subsequent research in this field.
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Shann Torng Wong, Siew Chin Wong and Chui Seong Lim
The post-pandemic crisis has reshaped work dynamics across industries, leading to a widespread reliance on technology for remote work and business continuity. Operations have…
Abstract
Purpose
The post-pandemic crisis has reshaped work dynamics across industries, leading to a widespread reliance on technology for remote work and business continuity. Operations have shifted to the digital space, altering job requirements and creating new career opportunities. The expansion of the digital industry has generated numerous career choices. The purpose of this study is to determine the relationships between self-efficacy, social media, career outcome expectations and career choices among fresh graduates in Malaysia amid the pandemic crisis.
Design/methodology/approach
Research data were collected from a sample of 318 fresh graduates from both public and private universities in Malaysia. Partial least squares structural equation modeling (PLS-SEM) was used to analyze the data in this study.
Findings
The empirical findings revealed significant correlations between self-efficacy, social media usage and career outcome expectations and the career choices of Malaysian fresh graduates.
Research limitations/implications
The present study offers an empirical framework to explain career choices among fresh graduates in Malaysia during the pandemic crisis, based on a review of related literature on careers. This research contributes to the body of knowledge on career choices among Generation Z fresh graduates and provides practical implications for organizations and individual employees. It suggests developing relevant Human Resource Development (HRD) interventions to retain the young workforce within organizations.
Originality/value
This study enriches the existing literature on self-efficacy, social media and career outcome expectations in the context of a pandemic crisis. It offers a new interpretation of how individual and contextual factors impact career choices, shaping the career management attitudes of fresh graduates in the post-pandemic era. The empirical findings also give valuable insights into higher education institutions, organizations and government authorities in Malaysia to develop relevant interventions to assist undergraduate students in their career choice exploration.
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Jamil Jaber, Rami S. Alkhawaldeh and Ibrahim N. Khatatbeh
This study aims to develop a novel approach for predicting default risk in bancassurance, which plays a crucial role in the relationship between interest rates in banks and…
Abstract
Purpose
This study aims to develop a novel approach for predicting default risk in bancassurance, which plays a crucial role in the relationship between interest rates in banks and premium rates in insurance companies. The proposed method aims to improve default risk predictions and assist with client segmentation in the banking system.
Design/methodology/approach
This research introduces the group method of data handling (GMDH) technique and a diversified classifier ensemble based on GMDH (dce-GMDH) for predicting default risk. The data set comprises information from 30,000 credit card clients of a large bank in Taiwan, with the output variable being a dummy variable distinguishing between default risk (0) and non-default risk (1), whereas the input variables comprise 23 distinct features characterizing each customer.
Findings
The results of this study show promising outcomes, highlighting the usefulness of the proposed technique for bancassurance and client segmentation. Remarkably, the dce-GMDH model consistently outperforms the conventional GMDH model, demonstrating its superiority in predicting default risk based on various error criteria.
Originality/value
This study presents a unique approach to predicting default risk in bancassurance by using the GMDH and dce-GMDH neural network models. The proposed method offers a valuable contribution to the field by showcasing improved accuracy and enhanced applicability within the banking sector, offering valuable insights and potential avenues for further exploration.
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Christine Falkenreck, Grzegorz Leszczyński and Marek Zieliński
Customer value perception of Internet of Things (IoT)-based services has not been studied in the context of a company’s readiness to adopt IoT technology. The purpose of this…
Abstract
Purpose
Customer value perception of Internet of Things (IoT)-based services has not been studied in the context of a company’s readiness to adopt IoT technology. The purpose of this paper is to address this gap by indicating a research framing that combines insights from the IoT business model literature and customer perception of the value of such models and their drivers.
Design/methodology/approach
The interplay between a company’s IoT readiness and its perception of the value of IoT services is tested using a sample of 90 Eastern European business customers in a competitive business field. The conceptual framework described also examines relationships among constructs that refer to relationship quality. This study evaluates its quantitative sample using partial least squares path modeling.
Findings
Customers’ perceived value of IoT business models strongly relates to their digitalization capabilities and their own company’s innovativeness. When referring to disruptive technical offerings, existing trustful and satisfactory relationships cannot enhance the customer’s value perception.
Research limitations/implications
The sample of Eastern European buyers is not representative of the majority of manufacturing companies. A randomized sample using other sources such as large industry databases could be useful. In addition, a replication of the study in other countries would allow for a cross-border validation of this study’s results.
Practical implications
This study suggests a detailed process that is based on a careful preselection of test customers working for innovative companies. A marketing communication approach must state clearly the benefits the buyers get in return for their sacrifice of sharing data.
Originality/value
Technology readiness refers to the user’s propensity to embrace and use new technologies. The results indicate that IoT readiness influences the successful launch of IoT-related business models. For managers, this study proposes a process to implement IoT-related business models.
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Jahanzaib Alvi and Imtiaz Arif
The crux of this paper is to unveil efficient features and practical tools that can predict credit default.
Abstract
Purpose
The crux of this paper is to unveil efficient features and practical tools that can predict credit default.
Design/methodology/approach
Annual data of non-financial listed companies were taken from 2000 to 2020, along with 71 financial ratios. The dataset was bifurcated into three panels with three default assumptions. Logistic regression (LR) and k-nearest neighbor (KNN) binary classification algorithms were used to estimate credit default in this research.
Findings
The study’s findings revealed that features used in Model 3 (Case 3) were the efficient and best features comparatively. Results also showcased that KNN exposed higher accuracy than LR, which proves the supremacy of KNN on LR.
Research limitations/implications
Using only two classifiers limits this research for a comprehensive comparison of results; this research was based on only financial data, which exhibits a sizeable room for including non-financial parameters in default estimation. Both limitations may be a direction for future research in this domain.
Originality/value
This study introduces efficient features and tools for credit default prediction using financial data, demonstrating KNN’s superior accuracy over LR and suggesting future research directions.
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Bao Khac Quoc Nguyen, Nguyet Thi Bich Phan and Van Le
This study investigates the interactions between the US daily public debt and currency power under impacts of the Covid-19 crisis.
Abstract
Purpose
This study investigates the interactions between the US daily public debt and currency power under impacts of the Covid-19 crisis.
Design/methodology/approach
The authors employ the multivariate generalized autoregressive conditional heteroskedasticity (MGARCH) modeling to explore the interactions between daily changes in the US Debt to the Penny and the US Dollar Index. The data sets are from April 01, 1993, to May 27, 2022, in which noticeable points include the Covid-19 outbreak (January 01, 2020) and the US vaccination campaign commencement (December 14, 2020).
Findings
The authors find that the daily change in public debt positively affects the USD index return, and the past performance of currency power significantly mitigates the Debt to the Penny. Due to the Covid-19 outbreak, the impact of public debt on currency power becomes negative. This effect remains unchanged after the pandemic. These findings indicate that policy-makers could feasibly obtain both the budget stability and currency power objectives in pursuit of either public debt sustainability or power of currency. However, such policies should be considered that public debt could be a negative influencer during crisis periods.
Originality/value
The authors propose a pioneering approach to explore the relationship between leading and lagging indicators of an economy as characterized by their daily data sets. In accordance, empirical findings of this study inspire future research in relation to public debt and its connections with several economic indicators.
Peer review
The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-08-2022-0581
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Fredrick Otieno Okuta, Titus Kivaa, Raphael Kieti and James Ouma Okaka
The housing market in Kenya continues to experience an excessive imbalance between supply and demand. This imbalance renders the housing market volatile, and stakeholders lose…
Abstract
Purpose
The housing market in Kenya continues to experience an excessive imbalance between supply and demand. This imbalance renders the housing market volatile, and stakeholders lose repeatedly. The purpose of the study was to forecast housing prices (HPs) in Kenya using simple and complex regression models to assess the best model for projecting the HPs in Kenya.
Design/methodology/approach
The study used time series data from 1975 to 2020 of the selected macroeconomic factors sourced from Kenya National Bureau of Statistics, Central Bank of Kenya and Hass Consult Limited. Linear regression, multiple regression, autoregressive integrated moving average (ARIMA) and autoregressive distributed lag (ARDL) models regression techniques were used to model HPs.
Findings
The study concludes that the performance of the housing market is very sensitive to changes in the economic indicators, and therefore, the key players in the housing market should consider the performance of the economy during the project feasibility studies and appraisals. From the results, it can be deduced that complex models outperform simple models in forecasting HPs in Kenya. The vector autoregressive (VAR) model performs the best in forecasting HPs considering its lowest root mean squared error (RMSE), mean absolute error (MAE), mean absolute percentage error (MAPE) and bias proportion coefficient. ARIMA models perform dismally in forecasting HPs, and therefore, we conclude that HP is not a self-projecting variable.
Practical implications
A model for projecting HPs could be a game changer if applied during the project appraisal stage by the developers and project managers. The study thoroughly compared the various regression models to ascertain the best model for forecasting the prices and revealed that complex models perform better than simple models in forecasting HPs. The study recommends a VAR model in forecasting HPs considering its lowest RMSE, MAE, MAPE and bias proportion coefficient compared to other models. The model, if used in collaboration with the already existing hedonic models, will ensure that the investments in the housing markets are well-informed, and hence, a reduction in economic losses arising from poor market forecasting techniques. However, these study findings are only applicable to the commercial housing market i.e. houses for sale and rent.
Originality/value
While more research has been done on HP projections, this study was based on a comparison of simple and complex regression models of projecting HPs. A total of five models were compared in the study: the simple regression model, multiple regression model, ARIMA model, ARDL model and VAR model. The findings reveal that complex models outperform simple models in projecting HPs. Nonetheless, the study also used nine macroeconomic indicators in the model-building process. Granger causality test reveals that only household income (HHI), gross domestic product, interest rate, exchange rates (EXCR) and private capital inflows have a significant effect on the changes in HPs. Nonetheless, the study adds two little-known indicators in the projection of HPs, which are the EXCR and HHI.
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