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Integrated project delivery (IPD) project that does not use multiparty agreement is identified as IPD-ish. The use of IPD-ish arrangement by incorporating integration practices in conventional contract can be viewed as the part of the adoption process of IPD. Moreover, inappropriate integration practices invite new forms of risks and the absence of multiparty agreement adds to the challenges of risk management in IPD-ish projects. This study discusses such challenges and proposes the use of joint risk management to address the potential pitfalls in IPD-ish arrangement.

A mixed research method was applied. First, the criticality of IPD-ish general and integration-specific risks was examined through a survey. Second, a real IPD-ish project was used to exemplify the use of joint risk management (JRM) to manage IPD-ish risks.

Two types of risks, namely integration risks (IRs) and general risks (GRs), are identified in IPD-ish projects. Two major findings for the IRs: (1) the most critical IRs are related to unbalanced incentivization and inefficient multidisciplinary teams; and (2) only team formation related pre-contract JRM strategies affect IRs. As for the GRs, the most critical ones are associated with design issues and can be effectively mitigated by post-contract JRM.

Using IPD-ish arrangement is an inevitable part of implementation of full IPD. This happens as many change-averse owners would like to test the integration principles using a conventional contract that they are familiar with. In fact, success in IPD-ish would pave the path for further adoption of IPD. This study offers insight into categorization of risks in IPD-ish projects. Appropriate use of post-contract and organization related pre-contract JRM would improve the chance of teasing out the values of IPD through IPD-ish arrangements. Care should be taken to introduce some contracting integration initiatives, such as risk/reward sharing incentive.

In most developing countries, indigenous emerging construction contractors (ECCs) face severe problems of not adopting a project management framework (PMF) in their business activities. It has increased their business risk and threatened their sustainability. Studies showed that government policy support (GPS) helps mitigate business risks. Thus, there is a paucity of literature concerning GPS on emerging Nigerian construction contractors' business sustainability. Therefore, the paper aims to investigate the moderating effect of GPS on the relationship between PMF and ECCs in Nigeria.

SmartPLS was used to analyse the collected data from the useable 310 questionnaires retrieved from respondents in Abuja and Lagos, Nigeria. Systems Theory was used to support the developed framework.

Findings show that government policy support significantly moderates the relationships between PMF and ECCs in the Nigerian construction sector. It implies that the study's results offer more understanding regarding issues affecting construction entrepreneurs' sustainable business cycle via applying PMF to mitigate business sustainable associated risks.

The study will stir Nigeria's ECCs and policymakers to promote construction business sustainability for a new entrepreneur, emphasising business risk management via PMF and GPS to enhance the sustainable business cycle.

The research (PMF and GPS) is strategies to enhance ECCs business sustainability in the Nigerian construction sector and other developing countries with similar political and economic attributes. Besides the study guiding old and intending ECCs and policymakers in the developing countries industries, it would contribute to bridge the theoretical gap regarding PMF and ECC, especially ECCs in developing countries with similar business sustainability issues.

This study aims to investigate ground-related design deficiencies as potential avenues of avoidable cost overruns, discernible from the geotechnical practices of highway agencies in the Niger Delta region of Nigeria.

The study deploys an interpretivist qualitative methodology to provide a detailed descriptive analysis of the design-related geotechnical practices of highway agencies during the pre-contract phase of highway projects. Semi-structured interviews were conducted with in-house professionals, consultants and contractors affiliated with the three highway agencies in the Niger Delta and thematically analysed to identify significant deviations from geotechnical best practices.

The study outcome shows that during the pre-contract phase, a chain of design-related geotechnical shortcomings has plagued highway projects executed in the Niger Delta. This view of practice uncovered in this study demonstrates a culture of significant deviation from best practice recommendations, which could plausibly contribute to the history of significant project cost overruns recorded in the region.

The study qualitatively spotlights gaps in the practice of highway agencies and reinforces the need for a re-orientation of the attitude to risk management, to give geotechnical concerns a priority in the financial management of highway projects executed in the Niger Delta region of Nigeria.

Cyber-physical systems (CPS) enable the synergistic integration of virtual models with the physical environment. This integration is gaining recognition for its potential to enhance construction project information management, thereby contributing to improved cost management in construction. Similarly, quantity surveyor (QS) plays a key role in construction projects by estimating and monitoring construction costs. Consequently, this research aims to explore redefining the role of QSs by integrating CPS.

The research adopted an interpretivism stance to collect and analyse data. Two rounds of 21 and 19 semi-structured interviews were conducted, with experts selected through heterogeneous purposive sampling. Code-based content analysis was used to analyse the data using NVivo12. MS Visio data visualisation tool was used to present the findings.

It is empirically proven the potential of CPS to facilitate nine key roles of QSs in all stages of the RIBA plan of work through the identification of 15 CPS applications and technologies. Nine key roles of QSs that CPS can facilitate were identified as preliminary estimation, measurement and quantification, contract administration, preparation of BOQ, interim valuation and payments, tender and contract documentation, cost planning, cost control and procurement advice. The study explored how adopting CPS technologies can transform traditional quantity surveying practices and enhance their value within the construction industry.

The findings add to the body of knowledge by redefining the role of QS through the integration of CPS for the first time and then by highlighting the usages of CPS in the construction industry rather than limiting it to a specific sector of the construction industry, as previous studies have done. This research uncovers several other research arenas on CPS as being the very first research to evaluate CPS to facilitate key roles of QSs. The findings can enhance the awareness and the practical implementation of CPS by intervening to form more partnerships among application developers and industry leaders.

Islamic banking has undergone significant adaption since its inception. This study aims to investigate why and how Islamic banks adapt their services, using participatory financing as evidence.

A qualitative study is designed, using working capital financing and commodity operations financing in Pakistan as analytical units. The data for each analytical unit is analyzed using a qualitative content analysis, while the findings are synthesized using a cross-case synthesis method.

Findings suggest that participatory financing has undergone extensive adaptation in the Islamic banking industry of Pakistan, in the wake of resolving constraints to participatory financing and increasing its viability. Consequently, participatory finance has emerged as an attractive and viable option in Pakistan. These findings suggest that unlike in the past, where Islamic banks used to buffer themselves from the environment and ignore the market demands, they have learned to respond effectively to the market demands and the challenges posed by the environment.

Findings suggest that the adaptation strategy is more effective than the migration strategy, because it enables the financial service systems to reduce the underlying risks by avoiding emergent threats and eradicating the inherent weaknesses.

The extant literature provides a generalized view on the adaptation process that Islamic banks undergo to comply with their environment. However, it is limited in terms of conceptualizing the adaptations and innovations in their products and the underlying structural variations. The present study fills this gap.

This study aims to investigate the dynamic influences of clustered barriers that hinder electronic procurement technology (EPT) implementation in construction procurement, using the neuro-fuzzy system.

A comprehensive literature review was conducted and 21 barriers to EPT implementation within construction projects were identified. Based on an expert survey, 121 datasets were gathered for this study. Using mean and normalization analysis for the datasets, 15 out of the 21 barriers were deemed to have critical influences in EPT barriers phenomenon. Subsequently, the critical barriers were classified into five groups: human-related; technological risk-related; government-related; industry growth-related; and financial-related. The relationships and influence patterns between the groups of barriers to EPT implementation were analyzed using the neuro-fuzzy system. Furthermore, sensitivity analysis was performed to examine the dynamic influence levels of the barriers within the hindrance level composition.

The results reveal that addressing one barrier group does not reduce the high levels of hindrances experienced in EPT implementation. However, addressing at least two barrier groups mostly tends to reduce the hindrance levels for EPT implementation. Further, this study revealed that addressing some barrier group pairings, such as technological risk-related and government-related barriers, while other barrier groups remained at a high level, still resulted in high levels of hindrances to EPT implementation in construction procurement.

This study provides insights for researchers to help them contribute to the development of theory with contemporary approaches based on the influence patterns of barrier interrelationships.

This study provides a model that would help practitioners and decision makers in construction procurement to understand and effectively determine the complex and dynamic influences of barrier groups to EPT uptake, for the development of suitable mitigation strategies.

This study provides novel insights into the complex influence patterns among grouped barriers concerning EPT adoption in the construction industry. Researchers and practitioners are equipped with knowledge on the influence patterns of barriers. This knowledge aids the development of effective strategies that mitigate the combined groups of barriers, and promote the wider implementation of EPT in the construction industry.

Based on resource-based theory and intellectual capital theory, this paper aims to investigate the impact of digital investment on enterprise value and the mediating role of intellectual capital. Additionally, it explores the heterogeneous impacts of digital investment on enterprise value and intellectual capital.

The study utilizes a sample of listed companies in Chinese A-shares from 2013 to 2020. The entropy-weighted method is applied to measure digital investment from two dimensions: scale and increment. Finally, the research hypotheses are tested through multiple regression analysis.

The empirical results demonstrate that digital investment significantly and positively impacts enterprise value. From the channel mechanism test, digital investment can enhance enterprise value by influencing intellectual capital through human, structural and relational capital. Of these, the mediating effect of human capital is the most significant. Moreover, the impacts of digital investment on enterprise value and intellectual capital are related to the industry sectors. In the agricultural sector, digital investment has adverse effects. In the industrial and service sectors, digital investment promotes intellectual capital and enterprise value. However, in the service sector, the impact on relational capital is not significant, and the mediating effect of relational capital does not hold.

This research has a limited potential for generalization due to the lack of standard measurement models for the exploration of digital investment.

The research findings are valuable for assessing the economic effects of digital investment comprehensively and providing essential information for policy formulation and strategy implementation.

This study represents the first attempt to evaluate the relationship between digital investment and enterprise value using the entropy-weighted method. In addition, this study investigates the mediating role of intellectual capital.

Given the serious question raised by the subprime of the 2008 global financial crisis over the rising practices of excessive rewarding of executives in the USA and European firms, the executive pay-performance nexus has emerged as a popular topic of debate in the contemporary corporate finance research. Conducted mostly on the Anglo-Saxon contexts, research outcomes have been inconclusive and dichotomous. Considering this backdrop, this study aims to investigate the endogenous relationship between executive compensation and risk taking in the context of the USA.

Using a large sample of non-financial firms from 2010 to 2020 based on panel data and two-stage least square regression. In this study, the riskier corporate decision is measured as book leverage and ratio of R&D expense to total assets. Chief executive officers’ (CEO) experience and age are used as instrumental variables, and these are expected to influence compensation incentives and, hence, affect firm riskiness indirectly. Firm size, return on assets and CEO turnover are reported to affect compensation and corporate decisions, therefore, included as control variables. Given that higher executive compensation is related to riskier corporate decision in firms, this study incorporates total wealth (i.e. accumulated equity related compensation) as an additional proxy of compensation, and this selection is justifiable by the perfect contracting notion of the agency theory.

The results of this study show a significant positive and increasing nexus among compensation and riskier corporate decisions. Besides, the compensation level proxied through the percentage of each form of compensation in total compensation is very important as greater equity and greater salary diminishes risk taking.

The outcomes of this study have useful implications for firm stakeholders and policymakers.

The level of pay measured by the percentage of each type of compensation in total compensation is of utmost importance as it can increase or decrease risk taking in corporate decisions.

The purpose of this paper is to provide a critical historical analysis of the business (mis)behaviors and influencing factors that discourage enduring cooperation between principals and agents, to introduce strategies that embrace the social values, economic motivation and institutional designs historically adopted to curtail dishonest acts in international business and to inform an improved principal–agent theory that reflects principal–agent reciprocity as shaped by social, political, cultural, economic, strategic and ideological forces

The critical historical research method is used to analyze Chinese compradors and the foreign companies they served in pre-1949 China.

Business practitioners can extend orthodox principal–agent theory by scrutinizing the complex interactions between local agents and foreign companies. Instead of agents pursuing their economic interests exclusively, as posited by principal–agent theory, they also may pursue principal-shared interests (as suggested by stewardship theory) because of social norms and cultural values that can affect business-related choices and the social bonds built between principals and agents.

The behaviors of compradors and foreign companies in pre-1949 China suggest international business practices for shaping social bonds between principals and agents and foreign principals’ creative efforts to enhance shared interests with local agents.

Understanding principal–agent theory’s limitations can help international management scholars and practitioners mitigate transaction partners’ dishonest acts.

A critical historical analysis of intermediary businesspeople’s (mis)behavior in pre-1949 (1840–1949) China can inform the generalizability of principal–agent theory and contemporary business strategies for minimizing agents’ dishonest acts.

This paper aims to identify the factors affecting the implementation of Public-Private Partnerships (PPPs) in the education sector.

Based on Scopus and adopting the protocol of Staples and Niazi (2007), this systematic literature review examined 21 articles on PPPs in the education sector. Content analysis is adopted to identify research gaps and provide information on critical issues in the cases.

The findings have identified the critical success factors of PPPs in the education sector in 12 countries, revealing varying degrees of success and implementation challenges. They reflect the importance of clear objectives, effective communication, and robust partnerships between the public and private sectors to achieve success. These insights contribute to an in-depth understanding of PPP implementation in education, which can guide future projects.

The critical success factors identified in PPPs implementation in education across various countries may provide a comprehensive worldwide perspective for researchers, practitioners and policymakers.