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Article
Publication date: 6 May 2014

Rotimi Joseph, David Proverbs, Jessica Lamond and Peter Wassell

There has been a significant increase in flooding in the UK over the past ten years. During this time, Government policy has moved from investment in flood defences…

Abstract

Purpose

There has been a significant increase in flooding in the UK over the past ten years. During this time, Government policy has moved from investment in flood defences towards encouraging property owners to take responsibility for reducing the impact of flooding. One of the ways in which this can be achieved is for homeowners to adapt their properties to flood risk by implementing property level flood risk adaptation (PLFRA) measures. While there has been some attempt to develop an understanding of the benefits of such measures, these previous studies have their limitations in that the intangible benefits have not been fully considered. As such, there remains a need for further development of these studies towards developing a more comprehensive understanding of PLFRA measures. It is against this background the purpose of this paper is to present a conceptual cost benefit analysis (CBA) framework for PLFRA measure. This framework brings together the key parameters of the costs and benefits of adapting properties to flood risk including the intangible benefits, which have so far been overlooked in previous studies.

Design/methodology/approach

A critical review of the standard methods and existing CBA models of PLFRA measures was undertaken. A synthesis of this literature and the literature on the nature of flooding and measures to reduce and eliminate their impacts provides the basis for the development of a conceptual framework of the costs and benefits of PLFRA measures. Within the developed framework, particular emphasis is placed on the intangible impacts, as these have largely been excluded from previous studies in the domain of PLFRA measures.

Findings

The framework provides a systematic way of assessing the costs and benefits of PLFRA measures. A unique feature of the framework is the inclusion of intangible impacts, such as anxiety and ill health, which are known to be difficult to measure. The study proposes to implement one of the stated preference methods (SPM) of valuation to measure these impacts, known as the willingness to pay method, as part of a survey of homeowners. The inclusion of these intangible impacts provides the potential to develop a more comprehensive understanding of the benefit cost ratio (BCR) for different stakeholders. The newly developed CBA conceptual framework includes four principal components: the tangible benefits to insurers; the tangible benefits to the government; the tangible benefits to homeowners; and the intangible benefits to homeowners.

Originality/value

This tool offers the potential to support government policy concerned with increasing the uptake of PLFRA measures through increasing the information available to homeowners and thereby supporting the decision-making process.

Details

Structural Survey, vol. 32 no. 2
Type: Research Article
ISSN: 0263-080X

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Article
Publication date: 30 August 2011

Rotimi Joseph, David Proverbs, Jessica Lamond and Peter Wassell

Recently, the focus of UK and European flood risk management policy has been towards promoting the uptake of property level flood adaptation measures. Despite this focus…

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1713

Abstract

Purpose

Recently, the focus of UK and European flood risk management policy has been towards promoting the uptake of property level flood adaptation measures. Despite this focus, the take‐up of property level flood adaptation measures (both resilient and resistant) remains very low. One of the apparent barriers to uptake is the cost of installing such measures. This study aims to investigate the cost of adopting resilient reinstatement measures by considering a small number of actual properties that were flooded in Cockermouth during 2009.

Design/methodology/approach

Secondary data obtained from a loss adjusting company provides the basis for analysis. The data take into consideration the cost benefit of resilient repair, assuming the same properties were flooded again. The traditional reinstatement costs were established as the actual cost of putting the properties back in a like‐for‐like manner while resilient reinstatement costs were established by creating new resilient repair schedules based on recommended good practice.

Findings

The results of the study show that the percentage extra cost for resilient reinstatement over traditional repair cost ranged from 23 to 58 per cent with a mean of 34 per cent depending on the house type. However, while resilient repairs were found to be more expensive than traditional (i.e. like‐for‐like) methods, they were found to significantly reduce the repair costs assuming a subsequent flood were to take place. Resilient flood mitigation measures seem most promising and, given repeat flooding, will help in limiting the cost of repairs up to as much as 73 per cent for properties with a 20 per cent annual chance of flooding, which indicates that the up‐front investment would be recovered following a single subsequent flood event.

Originality/value

The uptake of resilient reinstatement among the floodplain property owners in the UK is very low and one of the reasons for the low uptake is lack of understanding of the cost and benefit of adopting such measures. While there have been previous studies towards investigating the costs of resilient reinstatement, it is believed that this is the first to use real claims data and information to analyse the tangible costs/benefits of resilient reinstatement.

Details

Structural Survey, vol. 29 no. 4
Type: Research Article
ISSN: 0263-080X

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Article
Publication date: 9 February 2015

Namrata Bhattacharya Mis, Rotimi Joseph, David Proverbs and Jessica Lamond

This study aims to investigate the level of preparedness among property owners who had experienced flood damage to their properties in two cities in England following the…

Abstract

Purpose

This study aims to investigate the level of preparedness among property owners who had experienced flood damage to their properties in two cities in England following the summer floods of 2007. Flooding can have a variety of impacts on residential properties and businesses that may be unprepared and therefore vulnerable to both direct and indirect effects. Research suggests that the focus in analysis of damage to flood plain population (residential and commercial) tends to be on the direct tangible impacts, limiting their ability to recognize the true costs of flooding, thereby leading to unpreparedness to future flooding. Greater understanding of the level of preparedness against different types of flood impacts is likely to contribute towards increased knowledge of the likely resilience of residential and commercial property occupiers.

Design/methodology/approach

Primary data obtained through self-administered postal questionnaire survey of floodplain residential and commercial residents provide the basis for the research analysis and findings. The rationale behind choosing the locations for the research was based on the need to investigate areas where a sizeable number of residential and commercial properties were affected during the 2007 event, in this case, Sheffield and Wakefield in the northern part of England were chosen. The data collected were subjected to descriptive statistical analysis.

Findings

The result of the analysis revealed that non-structural measures have been implemented by more people when compared to other measures, which can be linked to the fact that non-structural measures, in most, cases do not have financial implication to the property owners. The uptake of the other measures (resistance and resilience) is very low. It can be concluded from the findings that the level of implementation of measures to reduce damage from potential future flooding among the flood plain residents is relatively low and mainly focussed towards reducing the direct effects of flooding.

Practical implications

The study argues that increased resilience can be sustainable only by developing integrated attitude towards risk reduction not only by enhancing coping strategy by reducing direct impacts of flooding but also equally focussing on indirect effects.

Originality/value

There have been previous studies towards investigating the impacts of flooding on residential and commercial property owners as a separate entity. It is believed that this is the first time in which both residential and commercial properties will be investigated together as one body of research.

Details

International Journal of Disaster Resilience in the Built Environment, vol. 6 no. 1
Type: Research Article
ISSN: 1759-5908

Keywords

Content available
Article
Publication date: 29 March 2013

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92

Abstract

Details

Structural Survey, vol. 31 no. 1
Type: Research Article
ISSN: 0263-080X

Content available
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1215

Abstract

Details

International Journal of Disaster Resilience in the Built Environment, vol. 6 no. 1
Type: Research Article
ISSN: 1759-5908

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Article
Publication date: 22 July 2021

Mathew Ekundayo Rotimi, Ojo Joseph IseOlorunkanmi, Gift Grace Rotimi and Mishelle Doorasamy

The purpose of this study is to empirically examine how corruption impacts economic output growth in Nigeria. This is because of the recent trend in the level of corruption.

Abstract

Purpose

The purpose of this study is to empirically examine how corruption impacts economic output growth in Nigeria. This is because of the recent trend in the level of corruption.

Design/methodology/approach

Using time series data ranging from 1995 to 2019, this study used the Johansen cointegration estimating approach and vector error correction mechanism to show an equilibrium relationship between output growth and other variables (oil revenue and corruption). To conduct the integration test, this study in the preliminary, used unit root test.

Findings

This study finds unidirectional and bidirectional causal relationships among variables. Contrary to a few studies, this study shows an equilibrium relationship between output growth and other variables (oil revenue and corruption). Thus, an increase in corruption at equilibrium would weaken output growth. Nonetheless, this study finds a gradual return of the deviation from the long-run stability over an arrangement of imperfect short-run adjustments. Based on the findings, to enhance economic growth, this study recommends zero tolerance for corruption. It also recommends that governments should further strengthen anti-corruption institutions and incorporate anti-corruption movements into decision-making processes.

Originality/value

This study adds to the literature by re-examining for the first time the relationship between corruption and economic growth in Nigeria. This study also deals with some econometrics issues which are found to be appropriate estimation to determine the equilibrium and stability in this study.

Details

Journal of Money Laundering Control, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 14 September 2020

Achini Shanika Weerasinghe, Thanuja Ramachandra and James O. B. Rotimi

Rising energy costs and increasing environmental concerns are catalysts for introducing sustainable design features in buildings. Incorporating sustainable design features…

Abstract

Purpose

Rising energy costs and increasing environmental concerns are catalysts for introducing sustainable design features in buildings. Incorporating sustainable design features in commercial buildings cannot be overstated because it could confer benefits to the investor (owners) and occupants. This study aims to develop a model that could aid in the prediction of operation and maintenance (O&M) costs from the knowledge of building-design variables. There is little evidence that design variables influence the O&M costs of buildings. Therefore, this study investigates the relationship between design variables and O&M costs in commercial buildings with the intent of developing a cost model for estimating O&M costs at the early design phase.

Design/methodology/approach

The study was approached quantitatively using a survey strategy. Data for the study were obtained from 30 randomly selected commercial buildings in the CBD in Colombo, Sri Lanka. Pareto's 80/20 rule, correlation and regression analysis were performed on the data to prove the statistical relationships between the buildings' O&M costs and their design variables.

Findings

The study found that 12 significant O&M costs elements contribute to about 82% of total O&M costs. Repairs and decoration had a strong correlation with building shape. Furthermore, the regression analysis found that O&M costs values were primarily dependent on the building size (the gross floor area and height of the buildings). The gross floor area and height handled over 73% of the variance in the O&M costs of commercial buildings in Sri Lanka.

Originality/value

These findings are a useful insight into the principles for design economies that could contribute to more sustainable commercial buildings.

Details

Smart and Sustainable Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-6099

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Article
Publication date: 12 September 2008

Hakeem O. Yusuf

This paper aims to examine the growing incidence of judicialisation of politics in Nigeria's democratisation experience against the backdrop of questionable judicial…

Abstract

Purpose

This paper aims to examine the growing incidence of judicialisation of politics in Nigeria's democratisation experience against the backdrop of questionable judicial accountability.

Design/methodology/approach

The article draws on legal and political theory as well as comparative law perspectives.

Findings

The judiciary faces a daunting task in deepening democracy and (re) instituting the rule of law. The formidable challenges derive in part from structural problems within the judiciary, deficient accountability credentials and the complexities of a troubled transition.

Practical implications

Effective judicial mediation of political transition requires a transformed and accountable judiciary.

Originality/value

The article calls attention to the need for judicial accountability as a cardinal and integral part of political transitions.

Details

International Journal of Law and Management, vol. 50 no. 5
Type: Research Article
ISSN: 1754-243X

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Article
Publication date: 21 August 2017

Owolabi Bakre, Sarah George Lauwo and Sean McCartney

The purpose of this paper is to investigate the claim that Western accounting reforms, in particular the adoption of International Public Sector Accounting Standards…

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1002

Abstract

Purpose

The purpose of this paper is to investigate the claim that Western accounting reforms, in particular the adoption of International Public Sector Accounting Standards (IPSASs) would enhance transparency and accountability and reduce corruption in patronage-based developing countries such as Nigeria.

Design/methodology/approach

The paper utilises the patron/clientelism framework to examine the dynamics of Western accounting reforms in the Nigerian patronage-based society, in which the institutions of governance and regulatory structures are arguably weak. The paper utilises archival data and interviews conducted with representatives of state bodies (elected politicians and officials) and professional accounting associations.

Findings

Results from two major reforms (the sale of government-owned residential properties in Lagos and the monetisation of fringe benefits for public officials) are presented. Despite the claim of the adoption of Western accounting standards, and in particular IPSAS 17, which requires full accrual accounting and the utilisation of fair value in property valuation, historical cost accounting appeared to have been mobilised to massively corrupt the process for the benefit of politicians, other serving and retired public officials and family members.

Originality/value

This study contributes to the current literature by providing evidence of the relationship between patronage, corruption and accounting in wealth redistribution in the patronage-based Nigerian socio-political and economic context.

Details

Accounting, Auditing & Accountability Journal, vol. 30 no. 6
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 27 July 2018

Syed Putra Syed Abu Bakar and Mastura Jaafar

The purpose of this paper is to examine the effects of land banking strategy and market analysis towards the performance of Malaysian housing developers.

Abstract

Purpose

The purpose of this paper is to examine the effects of land banking strategy and market analysis towards the performance of Malaysian housing developers.

Design/methodology/approach

Through in-depth interviews, participants shared their opinions on success factors of housing development firms with a focus on land banking and market study. Content analysis was performed on the data, identifying the connection between both strategies and their superior performance.

Findings

The study presents interesting findings in that it lends support to the existing literature as such land banking and market analysis do affect the business competitiveness of housing developers. Albeit subjective in nature, the comments received from respondents are revelatory and have implications for the level of performance perceived by the organisations, as well as the experience of housing entrepreneurs in assembling the land bank and gauging the housing market.

Practical implications

Though not a substitute for quantitative problem solving, this piece of work serves as a corroborative evidence to improve the satisfaction of homebuyers, industry players and policymakers. The paper ends by recommending that the study be repeated in Malaysia, this time with the involvement of other stakeholders, to enrich the findings.

Originality/value

To the best of authors’ knowledge, this is the first research performed in the Malaysian context in which the strategies of private housing developers comprising land banking and market analysis were explored in relation to business success. Hence, the present study not only contributes to the existing property literature, but also makes an important contribution to the business performance and firm competitiveness in the lens of Malaysian entrepreneurs.

Details

Property Management, vol. 36 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

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