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1 – 3 of 3The purpose of this study was to explore the motives (especially the agency motives) for corporate diversification from the perspective of corporate executives who make such…
Abstract
Purpose
The purpose of this study was to explore the motives (especially the agency motives) for corporate diversification from the perspective of corporate executives who make such strategic decisions and manage the diversified firms daily.
Design/methodology/approach
A qualitative research approach was adopted, and 12 chief executive officers (CEOs) of diversified firms in Nigeria were interviewed for their perspectives on the motives for corporate diversification.
Findings
Stewardship motives – diversification to use excess capacities in assets and resources to exploit opportunities in the market and defend against adverse environmental developments – were the most cited reasons for diversification. The relevant agency problem related to corporate diversification motive in Nigeria is the principal–principal (majority shareholder-minority shareholder) one. CEOs with substantial holdings in their firms indicated that they use diversification to reduce their investment risk and retain control of their portfolio.
Practical implications
The findings suggest that in corporate environments such as Nigeria that feature blockholding prominently, the corporate strategy-related agency problem that policymakers should pay greater attention to is the principal–principal conflict rather than the traditional agent–principal problem that has influenced corporate governance over the years. There is also a need to revise the dominant view that diversification is a value-destroying strategy motivated by the self-seeking behavior of managers who have little or no shares in the companies they manage.
Originality/value
The few studies on motives for corporate diversification that incorporated the perspectives of corporate executives did not address the agency motives of diversification. To the best of the authors’ knowledge, this is the first study that has done so.
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Floriberta Binarti, Pranowo Pranowo, Chandra Aditya and Andreas Matzarakis
This study aims to compare the local climate characteristics of Angkor Wat, Borobudur and Prambanan parks and determine effective strategies for mitigating thermal conditions that…
Abstract
Purpose
This study aims to compare the local climate characteristics of Angkor Wat, Borobudur and Prambanan parks and determine effective strategies for mitigating thermal conditions that could suit Borobudur and Angkor Wat.
Design/methodology/approach
The study employed local climate zone (LCZ) indicators and ten-year historical climate data to identify similarities and differences in local climate characteristics. Satellite imagery processing was used to create maps of LCZ indicators. Meanwhile, microclimate models were used to analyze sky view factors and wind permeability.
Findings
The study found that the three tropical large-scale archaeological parks have low albedo, a medium vegetation index and high impervious surface index. However, various morphological characteristics, aerodynamic properties and differences in temple stone area and altitude enlarge the air temperature range.
Practical implications
Based on the similarities and differences in local climate, the study formulated mitigation strategies to preserve the sustainability of ancient temples and reduce visitors' heat stress.
Originality/value
The local climate characterization of tropical archaeological parks adds to the number of LCZs. Knowledge of the local climate characteristics of tropical archaeological parks can be the basis for improving thermal conditions.
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Olatoyese Zaccheus Oni, AbdulLateef Olanrewaju and Soo Cheen Khor
The construction industry has been recording a high number of accidents without any sign of abating, the majority of which have been linked to poor health and safety practices. To…
Abstract
Purpose
The construction industry has been recording a high number of accidents without any sign of abating, the majority of which have been linked to poor health and safety practices. To reduce this menace, this study aims to evaluate the factors affecting health and safety practices on construction sites to improve health and safety practices.
Design/methodology/approach
First, this study reviewed previous studies to derive the factors affecting health and safety practices on construction sites, and based on the literature review, the 50 factors identified were used in developing the questionnaire that was administered to construction professionals. The returned questionnaire was then analysed using fuzzy synthetic evaluation (FSE).
Findings
According to the FSE results, inadequate safety planning has the highest critical value, followed by management failure, inadequate safety promotion, safety ignorance, poor supervision and enforcement, a casual attitude towards safety and insufficient experience. The analysis showed that the overall criticality of the factors to the Malaysian construction industry is high, suggesting that if addressed, the health and safety practices of the industry will be improved.
Originality/value
The study provides a holistic approach to the factors affecting health and safety practices in the construction industry using a method that has not been used by previous researchers. The findings will furnish decision makers in the construction industry with practical approaches to adapt and reinforce in the industry to improve health and safety practices.
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