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Article
Publication date: 8 March 2024

Md. Mohaimenul Islam Sourav, Mohammed Russedul Islam, Sheikh Mohibur Rahman and Md. Istiak Jahan

In Bangladesh (BD), delays in infrastructure are common. Many previous studies have explored the causes of infrastructure delays. However, this study investigated the causes of…

Abstract

Purpose

In Bangladesh (BD), delays in infrastructure are common. Many previous studies have explored the causes of infrastructure delays. However, this study investigated the causes of delays by taking responses from the stakeholders who are responsible for planning, design, funding, approval and implementation. There are few studies that have related infrastructure project delays to heterogeneity in stakeholders’ perceptions.

Design/methodology/approach

A structural equation (SE) model is developed with 350 normally distributed data points to understand the heterogeneity in stakeholders’ perceptions regarding delays in infrastructure projects in BD. Additionally, the relative importance index (RII) approach is used to assess the responses, validating the SE model.

Findings

The study finds that among the three latent variables, “Project itself related delay” has more influence on delays in infrastructure projects. Among the observed variables under the “project itself related delay” latent variable, “DPP approval process” has the most significance. From the heterogeneity analysis, the study found differences in responses among the stakeholders from “the Engineering Department,” “the Planning Office” and “the Construction Firm/Industry.” An important class of stakeholders believes that their stage is not being delayed and that other stages require attention.

Research limitations/implications

The data sample is 350. More data can improve the accuracy of the findings. Most of the respondents are civil engineers (74%) and represent the owner of the project. Sample data from more stakeholders’ will enhance the accuracy of the result.

Practical implications

This study addresses the requirements of Bangladeshi project stakeholders and how their interactions cause delays in projects. Furthermore, the opinions of other stakeholders are taken into consideration when determining the specific factors of individual stakeholders that are causing delays. Practically, the distance between stakeholders should be reduced. A project manager can play a role in this regard. Initiatives should be taken on how to complete the project quickly by eliminating the requirements discussed among the stakeholders and bureaucratic complications. Instead of placing blame on one another, stakeholders should take the initiative to figure out how to work together to finish the project on schedule. The Planning Commission’s approval of the Development Project Proposal (DPP) and Revised Development Project Proposal (RDPP) should be obtained as soon as possible by owner stakeholders. In order to avoid frequently changing the DPP, owners should also exercise greater caution when choosing contractors. Contractor stakeholders should use efficient and proper manpower and equipment so that unexpected delays are not created during the execution of work. Since the role of the contractor stakeholder is the most important among the three types of stakeholders, the contractor should raise awareness and urge the owners to get the RDPP approved quickly.

Originality/value

The findings from the study can help mitigate delays in infrastructure projects in BD, taking into account the perceptions of various stakeholders.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 10 April 2009

Niels Mygind

The purpose of the paper is to clarify the relationship between stakeholder interests and the ownership of a company, and to specify the distinctions between three types of

5021

Abstract

Purpose

The purpose of the paper is to clarify the relationship between stakeholder interests and the ownership of a company, and to specify the distinctions between three types of maximization: shareholder‐, stakeholderowner‐ and total stakeholder maximization.

Design/methodology/approach

This conceptual paper first analyzes how company‐related rents are connected to different stakeholder groups. These rents are defined as the monetary and non‐monetary returns from stakeholder involvement in a company, in excess of what stakeholders could achieve from their best alternatives. The paper distinguishes between general stakeholder benefits and the additional owner benefits a stakeholder secures by having controlling ownership. The stakeholder having the highest net benefits (benefits minus costs), and thus paying the highest price for ownership, will be the controlling owner. The controlling stakeholderowners' benefits are those which are maximized by the company. This leads to the second part of the paper, which analyzes different types of maximization.

Findings

The general type of maximization that companies pursue is stakeholderowner maximization. Maximization of shareholder value is a special case of stakeholderowner maximization. Only under quite restrictive assumptions is shareholder maximization larger or equal to stakeholderowner maximization. Total stakeholder maximization is calculated on the sum of the returns to all stakeholders including shareholders. Because of problems of measurement and practical application, total stakeholder maximization is difficult or impossible to achieve. Firms generally approximate to total stakeholder maximization by implementing stakeholderowner maximization under constraints defined by other stakeholder interests. With stronger regulation, pressure from different stakeholder groups, and more emphasis on corporate social responsibility, the decision area where the company can simultaneously maximize stakeholderowners' returns and stakeholder interests will be increased.

Originality/value

This paper breaks new ground by linking controlling ownership and stakeholder interests/rents. This is used to give precise definitions on three types of maximization: shareholder‐, stakeholderowner, and total stakeholder maximization.

Details

Corporate Governance: The international journal of business in society, vol. 9 no. 2
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 5 June 2009

Jari Syrjälä and Tuomo Takala

The aim of this paper is to describe and qualitatively explain certain observations concerning corporate social responsibility from the personnel standpoint with special reference…

1055

Abstract

Purpose

The aim of this paper is to describe and qualitatively explain certain observations concerning corporate social responsibility from the personnel standpoint with special reference to various stakeholders.

Design/methodology/approach

The observations were made in connection with earlier studies on organizational change. The paper draws on stakeholder thinking and offers a view regarding the way employees perceive business issues concerning CSR in relation to corporate stakeholder groups. Should a business give priority to the interests of its owners or take all stakeholder groups equally into account? How do employees see their own relations with other stakeholder groups, and do their views change in the course of a post‐merger integration process? The interviews were conducted at two points in the change process in Nordic energy sector companies: first in the pre‐merger situation in 2001 and then in the post‐merger situation four years later in 2005.

Findings

The main contribution of the study is the observation of the changing positions of stakeholder groups in a merger process. The findings show that two of these primary stakeholder groups – namely, management and owners – shift places in a merger, with owners replacing the management in the corporate core and the old, pre‐merger management joining the stakeholder group of other personnel.

Originality/value

The paper produces new and validated scientific information about energy‐sector mergers from the employees' point‐of‐view.

Details

Social Responsibility Journal, vol. 5 no. 2
Type: Research Article
ISSN: 1747-1117

Keywords

Article
Publication date: 6 June 2022

Lil Rodriguez Serna, Dorothea Maria Bowyer and Sheree K. Gregory

Although the use of management control systems (MCS) is known to support organizational strategic success, the role played by MCS to monitor stakeholder satisfaction, thus…

Abstract

Purpose

Although the use of management control systems (MCS) is known to support organizational strategic success, the role played by MCS to monitor stakeholder satisfaction, thus minimizing stakeholder relationship severance, during uncertain events such as business succession remains underexplored. Thus, the authors investigate why succession creates uncertainty and how can stakeholders' concerns assist in contingently adapt the family businesses (FB) MCS to assist decision-making during succession.

Design/methodology/approach

The authors use a qualitative approach and a multiple-case study design. The authors conducted 30 in-depth interviews within 6 Australian FB SMEs. Interviewees included owners, successors, senior managers, customers and suppliers.

Findings

The authors' findings suggest that owners' perceptions, that intergenerational succession causes minimal stakeholder disruption, results in MCS not adapting to monitor the uncertain event. Other stakeholders, on the contrary, highlight the need for MCSs to evolve and adapt during the process to assist owners monitor stakeholder-derived success factors to secure the long-term sustainability of the FB.

Originality/value

The novelty of this research is based on the inclusion of non-family stakeholders, such as customers and suppliers, as part of the sample. This approach allowed for stronger conclusions and a broader overview of the succession issue.

Details

Journal of Small Business and Enterprise Development, vol. 30 no. 2
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 15 November 2017

Johan Håkansson, Madelen Lagin and Johanna Wennström

The purpose of this paper is to investigate if, and how, different stakeholders perceive property owners (PO) have changed their activities in a town centre after increased…

Abstract

Purpose

The purpose of this paper is to investigate if, and how, different stakeholders perceive property owners (PO) have changed their activities in a town centre after increased competition, and if this has led to a different perception of the PO’ stakeholder group.

Design/methodology/approach

A comparative follow-up case study is conducted through semi-structured interviews on changes in the town centre management (TCM) stakeholders’ perceptions of the role, benefit, and contribution of PO. The interviews are carried out before and after the establishment of a big-box retailer, which makes it possible to analyse possible changes in the perceptions in relation to the overall role of the PO when retail competition increases.

Findings

A limited number of PO and local authorities have started working more strategically and proactively by creating a time-restricted alliance that goes beyond the work of the TCM organisation. Although the activities of the PO have increased, this is not fully understood by everyone in the town centre, especially the retailers.

Research limitations/implications

In comparison with other studies, this study clearly indicates that the property owner plays a key strategic role in enabling town centre development. This role is broader than what the original TCM literature suggests and is based on the aspects of resource coordination and distribution.

Practical implications

In order to create the opportunity to develop a town centre in the long run, it is of strategic importance that the PO are in agreement with the development plans. In addition, it is necessary to consider those members who should be part of the strategic alliance.

Originality/value

By conducting a comparative follow-up case study, the authors are able to contribute with a deeper understanding of how stakeholders’ perceptions change over time. The authors extend the current literature by showing that the PO are a key stakeholder due to their organisational resources and their ability to facilitate town centre development.

Details

International Journal of Retail & Distribution Management, vol. 45 no. 11
Type: Research Article
ISSN: 0959-0552

Keywords

Article
Publication date: 1 December 2004

Steen Thomsen

There is growing interest in corporate values but where do they come from? What factors determine corporate values? This paper argues that they are determined by corporate…

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Abstract

There is growing interest in corporate values but where do they come from? What factors determine corporate values? This paper argues that they are determined by corporate governance in a broad sense of the word. Three governance mechanisms are emphasized: ownership structure, board composition and stakeholder influence. In smaller companies founder‐owners often play a pivotal role in shaping corporate value systems that influence companies for years to come. In larger companies that separate ownership and control, managers and boards come to play a powerful role. In both cases repeated interaction with customers, employees and other stakeholders shape corporate values by way of corporate reputation and corporate culture.

Details

Corporate Governance: The international journal of business in society, vol. 4 no. 4
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 6 March 2017

Abel Duarte Alonso and Ian Patrick Austin

The purpose of this study is to examine organisational learning (OL) among firms involved in global-trade relationships. The study adopts the stakeholder theory (ST) and the…

Abstract

Purpose

The purpose of this study is to examine organisational learning (OL) among firms involved in global-trade relationships. The study adopts the stakeholder theory (ST) and the knowledge-based theory (KBT) of the firm to illuminate the research and facilitate the understanding of the areas under investigation. The study, therefore, makes contributions to the extant international business and strategy literature, both in new empirical evidence and in theoretical refinement.

Design/methodology/approach

In-depth, unstructured, face-to-face and telephone interviews were conducted with owners/co-owners of nine Western Australian firms operating internationally.

Findings

Collectively, participants perceive improvements in trade relationships through increased understanding and knowledge. Importantly, OL is significantly affected by systematic and dramatic/strategic quantum change. Alignments with ST and KBT emerged, emphasising the usefulness of these frameworks to understand owners/co-owners’ best-practice stakeholder management. Furthermore, the study proposes a refinement of these frameworks to facilitate understanding of the participating firms’ OL-related strategies.

Originality/value

While there is a rich body of literature on OL, various knowledge gaps have been identified in contemporary research. The study provides value by contributing to new knowledge in these areas and by proposing a refinement of the used theoretical frameworks in explaining OL among Western Australian global firms. In addition, despite Western Australia’s geographic proximity to various overseas consumer markets, very few empirical studies have examined the above areas in the context of this state’s firms. By focusing on Western Australian firms, the study also provides an element of originality.

Details

Review of International Business and Strategy, vol. 27 no. 1
Type: Research Article
ISSN: 2059-6014

Keywords

Article
Publication date: 8 April 2014

Elizabeth Jane Wilson, Anders Bengtsson and Catharine Curran

The purpose of this paper is twofold. First, propositions in an existing conceptual framework are empirically explored to note whether and how brand meaning gaps exist for…

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Abstract

Purpose

The purpose of this paper is twofold. First, propositions in an existing conceptual framework are empirically explored to note whether and how brand meaning gaps exist for internal and external stakeholders of a focal brand. Second, a typology of brand meaning gaps, characterised by meaning assonance and valence, offers new insight for brand management strategy.

Design/methodology/approach

The authors use case study methods to explore the research propositions about brand meaning gaps among stakeholder groups. The focal firm is The Black Dog Company of Martha's Vineyard, Massachusetts in the USA. Data from brand owners (internal stakeholders) and consumers (external stakeholders) are collected using in-depth interviews, observation, document analysis, and an online survey that includes a picture association task. Further inductive analysis of secondary data helps develop the typology of brand meaning gaps and dynamics.

Findings

The research propositions are supported. Brand meaning gaps exist between internal and external stakeholders, and they exist among two external stakeholder groups. Brand meaning for owners, primarily defined as family heritage, is largely unknown to consumers. Among consumers, brand meaning for stakeholder group 1 is “coastal New England”; brand meaning for group 2 is “dog lovers.” Although multiple brand meanings exist for stakeholders, the meanings are relatively assonant (harmonious) and positively valenced. The findings regarding the polysemic nature of brand meaning are useful to brand managers seeking to leverage offerings to multiple target markets. These findings, along with additional secondary data, serve as the basis for a typology of brand gaps and dynamics characterized by assonance and valence. Four types of meaning gaps may lead to situations where brands are beloved, on-the-cusp, hijacked, or facing disaster.

Originality/value

This work addresses calls from the literature to empirically explore brand meaning among multiple stakeholder groups.

Details

Qualitative Market Research: An International Journal, vol. 17 no. 2
Type: Research Article
ISSN: 1352-2752

Keywords

Article
Publication date: 4 November 2014

Temitope Egbelakin, Suzanne Wilkinson and Jason Ingham

The purpose of this paper is to examine why building owners are often reluctant to adopt adequate mitigation measures despite the vulnerability of their buildings to earthquake…

Abstract

Purpose

The purpose of this paper is to examine why building owners are often reluctant to adopt adequate mitigation measures despite the vulnerability of their buildings to earthquake disasters, by exploring the economic-related barriers to earthquake mitigation decisions.

Design/methodology/approach

A case study research method was adopted and interviews chosen as the method of data collection.

Findings

Critical economic-related impediments that inhibited seismic retrofitting of earthquake-prone buildings were revealed in this study. Economic-related barriers identified include perception about financial involvement in retrofitting, property market conditions, high insurance premiums and deductibles, and the high cost of retrofitting. The availability of financial incentives such as low interest loans, tax deductibles, the implementation of a risk-based insurance premium scale and promoting increased knowledge and awareness of seismic risks and mitigation measures in the property market place are likely to address the economic-related challenges faced by property owners when undertaking seismic retrofitting projects. The provision of financial incentives specifically for seismic retrofitting should be introduced in policy-implementation programme tailored to local governments’ level of risks exposure and available resources.

Practical implications

The recommendations provided in this study suggest strategies and answers to questions aimed at understanding the types of incentives that city councils and environmental hazard managers should focus on in their attempt to ensure that property owners actively participate in earthquake risk mitigation.

Originality/value

This paper adopts a holistic perspective for investigating earthquake risk mitigation by examining the opinions of the different stakeholders involved in seismic retrofit decisions.

Details

Structural Survey, vol. 32 no. 5
Type: Research Article
ISSN: 0263-080X

Keywords

Article
Publication date: 4 April 2024

Novi Puspitasari, Ana Mufidah, Dewi Prihatini, Abdul Muhsyi and Imam Suroso

The purpose of this study include analyzing the conformity between the General Guidelines for the Governance of the Indonesian Sharia Entities (GGG-ISE) and the implementation in…

Abstract

Purpose

The purpose of this study include analyzing the conformity between the General Guidelines for the Governance of the Indonesian Sharia Entities (GGG-ISE) and the implementation in the field and proposing a model of corporate governance for Islamic property developers.

Design/methodology/approach

This research uses a qualitative method with a case study approach. The researcher used a structured interview method and chose a purposive technique to determine the interviewees. This study has seven interviewees representing three Islamic property developer companies in Jember Regency, East Java, Indonesia. Data collection was conducted from June to July 2023, with a duration of about 60 min for each interviewee. The interviews were conducted face-to-face in each interviewee’s residential office.

Findings

The results showed that the companies had implemented several principles of GGG-ISE, namely, ethical and responsible actors, risk management, internal control, compliance, disclosure and transparency by making financial reports, shareholder rights and stakeholder rights, both internal and external stakeholders. Furthermore, this study found that GGG-ISE does not comply with the components of the organizing organ group. This study also found that governance reports have not been implemented in GGG-ISE components. In addition, this study identified a new component that must be present and not found in GGG-ISE, namely, a statement of the use of contracts for mudharib owners and between mudharib owners and stakeholders. Based on these findings, this study proposes a governance model for Islamic property developer companies called the GGG-IPDE.

Originality/value

This research is a pioneer in proposing a corporate governance model for Islamic property developers.

Details

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

Keywords

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