Estimating contractors’ efficiency with panel data

2014 ◽  
Vol 14 (3) ◽  
pp. 274-291 ◽  
Author(s):  
Yat Hung Chiang ◽  
Eddie W.L. Cheng
Keyword(s):  
Construction Industry ◽  
Technical Efficiency ◽  
Design Methodology ◽  
Data Envelopment ◽  
Content Type ◽  
The Past ◽  
Literature Base ◽  
Output Side ◽  
Dea Method ◽  
Practical Implications

Purpose – This paper aims to explore the use of the data envelopment analysis (DEA), Cobb-Douglas and translog production function methods in estimating contractors’ efficiency. Design/methodology/approach – In this paper, the DEA, translog and Cobb-Douglas methods were used to estimate the technical efficiency of 23 contractors in Hong Kong from 2003 to 2009. For this research, four input and three output variables were identified. Findings – The results suggest that the efficiency scores obtained from the DEA method were significantly different from those obtained from the translog and Cobb-Douglas methods, while the efficiency scores from the translog method were similar to those from the Cobb-Douglas method. The DEA method further reveals that the company had poor utilisation of its resources over the past few years. On the output side, the current ratio was too small, implying that the company suffered from excess current liabilities relative to its current assets. Research limitations/implications – Application of efficiency measurement in the built environment is still in its infancy. The current research, therefore, calls for more research to be undertaken to establish the applied literature base for the construction industry. Practical implications – The DEA method helps the inefficient company explore ways to improve the utilisation of the inputs as well as the process and to maximise the outputs. Originality/value – Knowing the relative performance of contractors helps understand their competitiveness in the construction industry. By estimating their technical efficiency, contractors can improve the conditions for enhancing performance.

Benchmarking of best practices: an overview of the academic literature

2017 ◽  
Vol 24 (3) ◽  
pp. 750-774 ◽  
Author(s):  
Vinicius Ferreira de Castro ◽  
Enzo Morosini Frazzon
Keyword(s):  
Best Practices ◽  
Design Methodology ◽  
Past Research ◽  
Research Field ◽  
Data Envelopment ◽  
Content Type ◽  
Pagerank Algorithm ◽  
Academic Literature ◽  
The Past ◽  
Practical Implications

Purpose The purpose of this paper is to overview the academic literature on benchmarking of best practices tracking the most important articles and understanding the similarity between studies. Design/methodology/approach The most relevant articles were identified using techniques such as the PageRank algorithm and co-citation maps. An analysis of the most relevant articles presents the main concepts, methods and updated discussions on this research field. Findings The analysis of academic output substantiates the increase in the production of articles on this research topic. There were identified two main clusters of co-cited articles, one related to data envelopment analysis (DEA) and other that presents a wide variation of methods for benchmarking. There are important critiques towards the past research on benchmarking of best practices, yet, new DEA approaches seem to address most of the criticized issues. Practical implications From time to time, a review of the literature of a certain field of knowledge is useful for other researchers to identify and organize its main theories, new trends, most relevant works, influent authors and important publications. Originality/value This paper delivers two important values: the updated discussion on benchmarking of best practices, clearing both DEA and non-DEA studies; and the methods adopted to systematically review the literature, which is original on this field of research.

FINRA’s disciplinary actions in 2017: increased restitution ordered with minimal changes in number of cases

2018 ◽  
Vol 19 (2) ◽  
pp. 19-23
Author(s):  
Brian Rubin ◽  
Adam Pollet
Keyword(s):  
Money Laundering ◽  
Design Methodology ◽  
Disciplinary Actions ◽  
Financial Industry ◽  
Electronic Communications ◽  
Content Type ◽  
The Past ◽  
Expert Analysis ◽  
Research Analysts ◽  
Practical Implications

Purpose The purpose of this paper is to analyze the Financial Industry Regulatory Authority’s (FINRA) 2017 disciplinary actions, the issues that resulted in the most significant fines and restitution and the emerging enforcement trends from 2017 and beyond. Design/methodology/approach The approach of this paper discusses the disciplinary actions in 2017 and prior years, details the top 2017 enforcement issues measured by total fines assessed, including anti-money laundering, trade reporting, electronic communications, books and records, research analysts and research reports, and explains current enforcement trends, including restitution, suitability cases and technological issues. Findings In 2017, restitution more than doubled from the prior year, resulting in the fourth highest total sanctions (fines combined with restitution and disgorgement) assessed by FINRA over the past 10 years. Practical implications Firms and their representatives should heed the trends in both the substantial restitution FINRA is ordering and the related enforcement issues in the cases FINRA has brought. Originality/value This paper provides expert analysis and guidance from experienced securities enforcement lawyers.

Measuring the service gaps in the roles of quantity surveyors in the emerging market

2016 ◽  
Vol 23 (5) ◽  
pp. 1111-1131 ◽  
Author(s):  
AbdulLateef Olanrewaju
Keyword(s):  
Emerging Markets ◽  
Construction Industry ◽  
Design Methodology ◽  
Emerging Market ◽  
Supply And Demand ◽  
The Other ◽  
Primary Data ◽  
Content Type ◽  
Practical Implications ◽  
Survey Questionnaires

Purpose – The opportunities that the emerging markets present to the players in the construction industry means that the players need to expand on the scope and size of their responsibilities and duties to the stakeholders. Each of the professionals now demands more specialised and sophisticated services from one another. The other players in the construction industry now require more emerging responsibilities and duties from the quantity surveyors. The purpose of this paper is to examine the roles that “modern” quantity surveyors play by measuring the gaps that exist in the services that the quantity surveyors provide. Design/methodology/approach – Primary data are collected through survey questionnaires. In total, 23 roles played by modern quantity surveyors are identified and addressed to the respondents to rank the rate at which quantity surveyors provide these “emerging” services. The collected data were analysed statistically. Findings – The results of the findings led to the conclusion that the quantity surveyors were not meeting the expectations of other players. Therefore, for competitiveness, quantity surveyors need to better meet demand expectations. Research limitations/implications – This findings of this research are constrained to the services or functions that the quantity provide in the construction industry. Practical implications – This knowledge is valuable to academic institutions that offer quantity surveying programmes, to practicing quantity surveyors, governments, and other players in the construction industry. It will allow quantity surveyors to reconcile supply and demand expectations. Originality/value – There is no known conclusive empirical study on services offered by quantity surveyors in any emerging markets. Therefore, the findings offer a fresh understanding on the services of quantity surveyors not only in Nigeria but elsewhere. While some of the services are common, others are peculiar to emerging markets.

A benchmarking approach to the progress of green materials and systems’ use in the UAE construction industry

2016 ◽  
Vol 13 (4) ◽  
pp. 315-327 ◽  
Author(s):  
Aly Elgayar ◽  
Salwa Mamoun Beheiry ◽  
Alaa Jabbar ◽  
Hamad Al Ansari
Keyword(s):  
Construction Industry ◽  
United Arab Emirates ◽  
Design Methodology ◽  
Construction Materials ◽  
Relative Importance ◽  
Content Type ◽  
The Past ◽  
Green Materials ◽  
Importance Index ◽  
Regulatory Guidelines

Purpose Over the past decade, the United Arab Emirates (UAE) introduced several green regulatory guidelines, federal decrees, and a considerable number of environmentally friendly initiatives. Hence, the purpose of this paper is to investigate the top green materials and systems used currently in the UAE construction industry as per the new laws dictate as well as see if professionals are switching over to incorporate more green materials, systems, and/or designs. Design/methodology/approach The work involved reviewing internationally popular green materials and systems for construction, developing a questionnaire based on the literature review, surveying professionals in the seven UAE emirates, and ranking the findings based on the relative importance index. Findings Findings found the top used green materials and system in the UAE’s construction industry. As well as identified that there is a communication gap between the design and implementation phases that is possibly hindering the use of more green materials and systems. Originality/value This study sets a baseline to measure the UAE’s progress over the coming years in terms of integrating more green construction materials, systems, methodologies, and trends.

Recent civil and criminal enforcement action involving high frequency trading

2015 ◽  
Vol 16 (1) ◽  
pp. 5-12 ◽  
Author(s):  
Matthew Rossi ◽  
Greg Deis ◽  
Jerome Roche ◽  
Kathleen Przywara
Keyword(s):  
High Frequency ◽  
Design Methodology ◽  
High Frequency Trading ◽  
Content Type ◽  
Enforcement Action ◽  
The Past ◽  
Trading Patterns ◽  
Federal Prosecutor ◽  
Enforcement Activity ◽  
Practical Implications

Purpose – To alert high frequency trading firms to the increased regulation and prosecution of manipulative trading practices during 2014 and early 2015. Design/methodology/approach – Reviews four significant proceedings against high frequency trading firms (and/or individuals employed by such firms) and other developments from the relevant government agencies as a possible preview of the enforcement and prosecution of high frequency trading practices in 2015. Provides advice to high frequency trading firms on how to decrease the risk of regulatory or criminal actions against them in this changing environment. Findings – Although the focus on high frequency trading has only recently begun to intensify, firms should be aware of the increased enforcement activity of the past year. These actions, both regulatory and criminal, have already resulted in large penalties and have helped initiate a strengthening of rules and regulations regarding manipulative trading practices, of which firms need to be aware and stay current. Practical implications – High frequency trading firms should be aware of the recent regulatory and criminal actions in order to better evaluate their own practices and controls, to ensure that their trading patterns do not resemble manipulative practices, and to avoid similar actions. Originality/value – Practical guidance from experienced litigators and securities regulatory lawyers, including a former SEC Assistant Chief Litigation Counsel and a former federal prosecutor, that consolidates and describes several recent actions and developments in one piece.

The changed paradigm of business progress: a moral step forward for humanity

2018 ◽  
Vol 26 (3) ◽  
pp. 181-193
Author(s):  
Joan Marques
Keyword(s):  
Design Methodology ◽  
Management Practices ◽  
Leadership Skills ◽  
First Century ◽  
Competitive Environment ◽  
Business Leadership ◽  
Content Type ◽  
The Past ◽  
Past Experiences ◽  
Practical Implications

Purpose Through an overview of the perceptional evolution of progress over the past two centuries, this paper aims to review a changed, yet constructive paradigm that has emerged in business leadership. Design/methodology/approach The paper is a general review-based deliberation presenting standards of the twentieth century, the need for a shift in paradigms and the shift as it unfolds in the twenty-first century. Findings Focusing on optimal stakeholder inclusion, yet not disregarding the concept of progress in a competitive environment, this paper presents a set of interrelated leadership skills and characteristics, including a discussion about their applicability and ways to develop them. Research limitations/implications While globally applicable, the views in this paper are primarily based on the American performance environment. Practical implications Management practices would not have evolved to today’s level if we did not have the past experiences to learn from. The deliberations and insights shared in this article should be seen as a way of evaluating the path that led us to our current, multi-tiered leadership paradigm. Social implications The model presented in this article should be seen as a useful, yet incomplete set of skills and characteristics to be considered by today’s and future leaders to ensure greater stakeholder inclusion. Originality/value Within the framework of focusing on the management horizon, this paper places the driving motives of two centuries that influenced our current society alongside each other and contemplates on the necessary shifts needed to move forward.

scholarly journals Operating without operations: how is technology changing the role of the firm?

2018 ◽  
Vol 29 (5) ◽  
pp. 809-833 ◽  
Author(s):  
Christoph Breidbach ◽  
Sunmee Choi ◽  
Benjamin Ellway ◽  
Byron W. Keating ◽  
Katerina Kormusheva ◽  
...  
Keyword(s):  
Operations Research ◽  
Design Methodology ◽  
Service Operations ◽  
Science Literature ◽  
Content Type ◽  
The Past ◽  
Technological Advances ◽  
The Future ◽  
Practical Implications

Purpose The purpose of this paper is to analyze the history and future of service operations, with the goal to identify key theoretical and technological advances, as well as fundamental themes that can help to imagine the future of service operations in 2050. Design/methodology/approach A review of the service operations literature was undertaken to inform a discussion regarding the role that technology will play in the future of service operations. Findings The future of service operations is framed in terms of three key themes – complexity, orchestration, and elasticity. The paper makes three contributions to the service science literature by: reviewing key themes underpinning extant service operations research to frame future trajectories of service operations research; elaborating a vision of service operations in 2050 based on history and technology; and outlining a research agenda for future service operations. Practical implications The case of service automation is used to provide an illustration of how the three themes converge to define future service operations, and in particular, to show how technology is recasting the role of the firm. Originality/value Service operations in the next 30 years will be very different from what it was in the past 30 years. This paper differs from other review papers by identifying three key themes that will characterize and instill new insights into the future of service operations research.

An evaluation of the impacts of construction professionals’ conflict on performance in the Nigerian construction industry

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Benjamen Sunkanmi Adeyemi ◽  
Clinton Ohis Aigbavboa
Keyword(s):  
Construction Industry ◽  
Mixed Method ◽  
Design Methodology ◽  
Quantitative Method ◽  
Professional Organization ◽  
Southwestern Part ◽  
Content Type ◽  
Great Performance ◽  
Method Approach ◽  
Practical Implications

PurposeThis study aims to evaluate impacts of construction professionals (CPs) conflict on performance in the Nigerian construction industry (NCI).Design/methodology/approachA quantitative method was used for this research. Questionnaires were sent to various CPs in Southwestern part of Nigeria. A total of 150 questionnaires were sent out, while 135 were gotten back from the partakers. The data received from the partakers were computed by applying descriptive and exploratory factor analysis.FindingsIn this study, conflict leads to the abandonment of the CPs’ task being rated highest by the participants. This was followed by conflict that results in insufficient communication, generates job pressure, results to frustrations and displeasure among the CPs, helps in early problem identification, causes work damage among professionals, helps in solving professional organization problems, improves productivity of professionals, improves communication among the professionals and so on.Research limitations/implicationsThis paper is limited to CPs that are members of professional bodies in Nigeria, and only 135 participants participated. Though, this paper suggests that a mixed-method approach should be utilized in further studies with a wider coverage.Practical implicationsThe findings from this paper will increase the understanding of CPs in Nigeria on various impacts of conflict on performance in the construction industry, most specifically the professional bodies. Moreover, this study will increase the knowledge of CPs to always avoid whatever that leads to the abandonment of their tasks. Additionally, this study will benefit the CPs to avoid insufficient communication among themselves, in order to accomplish great performance and efficiency in their respective professional bodies.Originality/valueSince previous studies on impacts of construction conflict in Nigeria were only focused on contractors and consultants in construction project, this current study filled the gap by evaluating the impacts of CPs’ conflict on performance in the NCI. Also, the method of analysis used for this study is exemptional because previous studies have overlooked the method. However, it is recommended that CPs must communicate more with others so as to ensure favorable conflict effects on performance.

Stakeholder perceptions on the risk factors, challenges and benefits of business sustainability practices in the Singapore construction industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chee Kwong Lau ◽  
Hexin Chen
Keyword(s):  
Risk Factors ◽  
Construction Industry ◽  
Design Methodology ◽  
Business Strategies ◽  
Business Risk ◽  
Content Type ◽  
Business Sustainability ◽  
Construction Firms ◽  
Sustainability Practices ◽  
Practical Implications

PurposeThis study examines the stakeholder perception of the sustainability risks, challenges and benefits arising from managing these risks in the Singapore construction industry.Design/methodology/approachA questionnaire consisting of 89 risk factors, challenges and benefits, was administered, with 216 responses received from various stakeholders. Regression analyses were used to estimate the relationships between sustainability and business risk factors, challenges and benefits associated with business sustainability practices.FindingsStakeholders recognise the importance of the emerging sustainability risk factors, and indeed rank these almost on a par with conventional business risk factors. The inherent business risks determine the nature of sustainability risk factors for construction firms, which in turn can affect their business risks and the performance and value creation of firms. However, most stakeholders, while acknowledging that business sustainability practices can provide benefits as well as posing challenges, do not believe that they can derive net benefits from such practices.Research limitations/implicationsThrough this perception study, there is an urgent need to turn the existing awareness of the importance of business sustainability (BS) practices into more consistent and solid actions among construction firms in Singapore.Practical implicationsThis study’s results imply construction firms to incorporate BS practices more systematically into their business strategies and operations, and to include sustainability risk factors alongside conventional business risks in their risk registers and risk management frameworks.Originality/valueThis study consolidates various variables and constructs of BS matters in the literature and practice into a meaningful framework for the management of BS in the construction industry.

Characteristics of a co-flowing jet with varying lip thickness and constant bypass ratio

2019 ◽  
Vol 91 (9) ◽  
pp. 1205-1213 ◽  
Author(s):  
Naren Shankar R. ◽  
Kevin Bennett S.
Keyword(s):  
Design Methodology ◽  
Critical Value ◽  
Commercial Aircraft ◽  
Critical Limit ◽  
Potential Core ◽  
Content Type ◽  
Free Jet ◽  
The Past ◽  
Bypass Ratio ◽  
Practical Implications

Purpose Subsonic commercial aircraft operate with turbo-fan engines that operate with moderate bypass ratio (BR) co-flowing jets (CFJ). This study aims to analyse CFJ with constant BR 6.3 and varying primary nozzle lip thickness (LT) to find a critical LT in CFJ below which mixing enhances and beyond which mixing inhibits. Design/methodology/approach CFJ were characterized with a constant BR of 6.3 and varying lip thicknesses. A single free jet with a diameter equal to that of a primary nozzle of the co-flowing jet was also studied for comparison. Findings The results show that within a critical limit, the mixing enhanced with an increase in LT. This was signified by a reduction in potential core length (PCL). Beyond this limit, mixing inhibited leading to the elongation of PCL. This limit was controlled by parameters such as LT and magnitude of BR. Practical implications The BR value of CFJ in the present study was 6.3. This lies under the moderate BR value at which subsonic commercial turbofan operates. Hence, it becomes impervious to study its mixing behavior. Originality/value This is the first effort to find the critical value of LT for a constant BR for compressible co-flow jets. The CFJ with moderate BR and varying LT has not been studied in the past. The present study focuses on finding a critical LT below which mixing enhances and above which mixing inhibits.

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