The role of tier, ownership and size of companies in value creation and capture

2021 ◽  
pp. 1-20
Author(s):  
Jiří Blažek ◽  
Aleš Bělohradský ◽  
Zuzana Holická
Keyword(s):  
Value Creation ◽  
Value Creation And Capture

scholarly journals Value creation and capture in systemic innovation implementation: case of mechanical, electrical and plumbing prefabrication in the Finnish construction sector

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rita Lavikka ◽  
Krishna Chauhan ◽  
Antti Peltokorpi ◽  
Olli Seppänen
Keyword(s):  
Value Creation ◽  
Construction Project ◽  
Interaction Patterns ◽  
Innovation Implementation ◽  
Value Capture ◽  
Content Type ◽  
Organisational Context ◽  
Systemic Innovation ◽  
Value Creation And Capture

Purpose Systemic innovations emerge and create value in an inter-organisational context. However, innovation studies rarely investigate the role of value creation and value capture among multiple organisations in successful innovation implementation. This paper aims to understand the role of value creation and value capture in the implementation of systemic innovations in construction which is by nature, an inter-organisational context. Design/methodology/approach The empirical research focused on the barriers, enablers and opportunities for value creation and value capture of the Finnish construction project parties when trying to implement mechanical, electrical and plumbing (MEP) prefabrication, which is a systemic innovation. Data were collected through interviews, observations and action workshops. Findings The empirical study identified interaction patterns on how social, political, technical and economic barriers lead to uneven value capturing, lack of value-based procurement and unclear value creation between MEP design and installation. They hinder the implementation of MEP prefabrication. The results point to enablers leading to fairly shared value to all parties, procurement of value and collaborative value creation, thus increasing the usage of MEP prefabrication, a systemic innovation. Originality/value The study adds new knowledge by demonstrating that the identification of barriers and their interaction with enablers and opportunities for value creation and capture lay a baseline for suggestions on how to implement a systemic innovation. This study stresses the importance of enabling value creation and capture for all construction project parties when implementing a systemic innovation.

Executives’ Decision Processes at the Front End of Major Projects: The Role of Context and Experience in Value Creation

2020 ◽  
pp. 875697282097722
Author(s):  
Denise Chenger ◽  
Jaana Woiceshyn
Keyword(s):  
Value Creation ◽  
Oil And Gas ◽  
Decision Processes ◽  
Strategic Decision ◽  
Decision Context ◽  
Front End ◽  
Risk Approach ◽  
Multiple Case

The front end of projects is strategically important; yet, how project concepts are identified, evaluated, and selected at the pre-project stage is poorly understood. This article reports on an inductive multiple-case study of how executives made such decisions in major upstream oil and gas projects. The findings show that in such a high-risk context, often an experienced executive makes these decisions alone and he creates value by facilitating growth. We identified three value-creating decision processes that varied by the executives’ risk approach and decision context. These processes depart from the formal project management prescriptions and the strategic decision-making literature.

scholarly journals From Culture 1.0 to Culture 3.0: Three Socio-Technical Regimes of Social and Economic Value Creation through Culture, and Their Impact on European Cohesion Policies

2018 ◽  
Vol 10 (11) ◽  
pp. 3923 ◽  
Author(s):  
Pier Sacco ◽  
Guido Ferilli ◽  
Giorgio Tavano Blessi
Keyword(s):  
Cultural Production ◽  
Value Creation ◽  
Cultural Policy ◽  
Policy Design ◽  
Economic Value ◽  
Cultural Participation ◽  
Social Value Creation ◽  
Open Question ◽  
The Relationship

We develop a new conceptual framework to analyze the evolution of the relationship between cultural production and different forms of economic and social value creation in terms of three alternative socio-technical regimes that have emerged over time. We show how, with the emergence of the Culture 3.0 regime characterized by novel forms of active cultural participation, where the distinction between producers and users of cultural and creative contents is increasingly blurred, new channels of social and economic value creation through cultural participation acquire increasing importance. We characterize them through an eight-tier classification, and argue on this basis why cultural policy is going to acquire a central role in the policy design approaches of the future. Whether Europe will play the role of a strategic leader in this scenario in the context of future cohesion policies is an open question.

New York, Capital of World Literature? On Holocaust Memory and World Literary Value

2017 ◽  
Vol 135 (1) ◽  
pp. 67-85 ◽  
Author(s):  
Pieter Vermeulen
Keyword(s):  
New York ◽  
Value Creation ◽  
Crucial Role ◽  
World Literature ◽  
Pierre Bourdieu ◽  
Literary Value ◽  
Holocaust Memory ◽  
Value Production ◽  
Roberto Bolano

AbstractThe question of how world literary value is produced has been central to recent debates. While Pascale Casanova’s influential account of a relatively autonomous ‘world literary space’ follows the work of Pierre Bourdieu in applying economic metaphors to processes of world literary value production, this essay argues that Casanova’s 1999 account needs to be updated in light of recent economic and cultural developments: the economic and the literary sphere are no longer separate but fundamentally entwined, which means that processes of world literary value creation cannot be modeled as a pseudo-market. The essay traces ongoing debates on the transcultural circulation of Holocaust memory to put forward a more flexible and multifaceted model for the production of world literary value. To demonstrate the claim that world literary value is today articulated with other forms of value, the essay investigates the role of Holocaust memory in the recent world literary consecration of Roberto Bolaño, Karl-Ove Knausgaard, and Elena Ferrante. Concentrated around New York-based publishers and media, these three cases not only demonstrate the crucial role of Holocaust memory in articulating literary value, they also show the recent shift from Paris to New York as a primary center of world literary value production.

scholarly journals CAN RAINMAKERS JUSTIFY THEIR PAY? THE ROLE OF INVESTMENT BANKS IN REIT M&AS

2021 ◽  
Vol 25 (4) ◽  
pp. 254-266
Author(s):  
Weiwei Zhang ◽  
Tiezhu Sun ◽  
Patrick Han Lin Goh ◽  
Zilong Wang ◽  
Nick Mansley
Keyword(s):  
Event Study ◽  
Value Creation ◽  
Abnormal Return ◽  
Prima Facie ◽  
Investment Banks ◽  
Cumulative Abnormal Return ◽  
Event Study Method ◽  
Contemporary Practice ◽  
The Prestige

This study explicitly rejects the prima facie proposition that the top-tier investment banks are capable of delivering supernormal value creation to the shareholders of a REIT acquirer in a corporate acquisition. Using the event study method, we find that REIT acquirers advised by market-leading investment banks suffer an average cumulative abnormal return of −4.41% following the M&A announcement, whereas REIT acquirers advised by non-top-tier investment banks only suffer an average cumulative abnormal return of −1.49%. The evidence shows that the contemporary practice of employing investment banks based on the prestige of the advisory firms could potentially result in value-destroying M&As for the REIT acquirers.

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