Women CEOs and firm performance in the construction industry: evidence from Spain

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Carmen María Hernández-Nicolás ◽  
Juan Francisco Martín-Ugedo ◽  
Antonio Minguez-Vera
Keyword(s):  
Construction Industry ◽  
Balance Sheet ◽  
Construction Sector ◽  
Content Type ◽  
Explanatory Variables ◽  
Financial Variables ◽  
Women Ceos ◽  
Male Dominated ◽  
Analysis System ◽  
One Year

PurposeThe construction industry has traditionally been a male-dominated economic sector. Barely 10% of managers are women. On the other hand, this sector is considered an engine of the economy. For these reasons, it is important to examine the influence of women CEOs on financial variables of firms in the construction industry.Design/methodology/approachThe empirical study is carried out using a sample from the Iberian Balance Sheet Analysis System record (“Sistema de Análisis de Balances Ibérico”, SABI). The sample includes 8,492 Spanish companies from the construction sector. The methodology employed is a three-stage least squares (3SLS) analysis. This methodology controls for the endogeneity of explanatory variables. It is employed in accordance with the peculiar characteristics of the sample, which includes data for only one year.FindingsThe results show that firms with a woman CEO have a lower level of debt, whatever the terms of the maturity of the debt are. In contrast to most previous evidence, firms managed by women are found to be less profitable.Originality/valueThe paper gives evidence of the influence of the CEO's gender on the performance (return and risk) of a firm. It provides original empirical evidence for the male-dominated construction sector. An extensive search identified no literature in which the researchers had focused on the construction industry.

scholarly journals Forecasting bank credit ratings

2014 ◽  
Vol 15 (2) ◽  
pp. 195-209 ◽  
Author(s):  
Periklis Gogas ◽  
Theophilos Papadimitriou ◽  
Anna Agrapetidou
Keyword(s):  
Credit Ratings ◽  
Financial Statements ◽  
Bank Credit ◽  
Probit Regression ◽  
Content Type ◽  
Explanatory Variables ◽  
Financial Variables ◽  
Annual Frequency ◽  
Available Information

Purpose – This study aims to present an empirical model designed to forecast bank credit ratings using only quantitative and publicly available information from their financial statements. For this reason, the authors use the long-term ratings provided by Fitch in 2012. The sample consists of 92 US banks and publicly available information in annual frequency from their financial statements from 2008 to 2011. Design/methodology/approach – First, in the effort to select the most informative regressors from a long list of financial variables and ratios, the authors use stepwise least squares and select several alternative sets of variables. Then, these sets of variables are used in an ordered probit regression setting to forecast the long-term credit ratings. Findings – Under this scheme, the forecasting accuracy of the best model reaches 83.70 percent when nine explanatory variables are used. Originality/value – The results indicate that bank credit ratings largely rely on historical data making them respond sluggishly and after any financial problems are already known to the public.

scholarly journals Evaluating critical success factors for implementing smart devices in the construction industry

2019 ◽  
Vol 26 (8) ◽  
pp. 1625-1640 ◽  
Author(s):  
Manuel Alexander Silverio-Fernandez ◽  
Suresh Renukappa ◽  
Subashini Suresh
Keyword(s):  
Dominican Republic ◽  
Construction Industry ◽  
Construction Projects ◽  
Success Factors ◽  
Smart Devices ◽  
Successful Implementation ◽  
Construction Sector ◽  
Policy Makers ◽  
Content Type ◽  
Critical Success

Purpose The decentralisation of information and high rate of mobile content access in the construction industry provides an ideal scenario for improvement of processes via the implementation of the paradigm of the Internet of Things (IoT). Smart devices are considered as the objects interconnected in the IoT; therefore, they play a fundamental role in the implementation of digital solutions during the execution of construction projects. The purpose of this paper is to assess the critical factors for a successful implementation of smart devices in the construction industry. Design/methodology/approach An empirical study was performed in the Dominican Republic. This country, located at the heart of the Caribbean, presents an economy that strongly relies on the construction industry. Following a systematic approach, a qualitative data collection and analysis was performed based on semi-structured interviews and content analysis to professionals of construction companies in the Dominican Republic, enquiring the concept of smart devices and critical success factors for implementing the devices in the industry. Findings The key success factors obtained from the contestants were leadership, technology awareness, company size, usability of proposed solution, cost of implementation and interoperability. Originality/value This paper provides information to clients of the construction sector regarding the benefits of embedding smart devices into their business activities. Furthermore, this study provides a better understanding of the key factors to be considered by construction organisations when embedding smart devices into their projects. This study also provides recommendations for distinct stakeholders of the construction sector, such as policy makers, clients and technology consultants. Policy makers should especially consider factors such as technology awareness and leadership to develop the right policies for the integration of the IoT in construction projects. Technology consultants should be aware of the latest case studies of successful implementation of smart devices and IoT systems in the world in order to adapt and implement smart devices and IoT in their projects.

Factors of high performance in Portugal

2019 ◽  
Vol 28 (3) ◽  
pp. 611-625
Author(s):  
Paulo Santos ◽  
André de Waal
Keyword(s):  
High Performance ◽  
Balance Sheet ◽  
The European Union ◽  
Organisational Performance ◽  
Content Type ◽  
Confirmatory Factor ◽  
Depth Study ◽  
Total Data ◽  
Analysis System ◽  
Performance Gains

Purpose Ever since Portugal joined the European Union, Portuguese organisations have been struggling with both the challenges of new competitors flooding in from other European countries and taking advantage of the opportunities the new enlarged integrated market offered them. This is because Portuguese companies have in general low average rates of productivity growth while they lack techniques to improve not only these rates but also overall organisational performance. The purpose of this paper is to discuss whether the high-performance organisation (HPO) framework, a holistic improvement technique developed on the basis of worldwide data, is valid for the Portuguese context and therefore can support Portuguese organisations in their efforts to achieve better performance. Design/methodology/approach Managers in Portuguese organisations, which were found in the Spain balance sheet analysis system database, were approached to fill in the HPO questionnaire on their company. In total, data was received from 163 organisations. This data was subsequently statistically analysed using a confirmatory factor analysis. Findings The study shows that the 35 items of the HPO framework are valid for the participating Portuguese organisations and as such form a reliable HPO framework for these organisations. Thus, the HPO framework can be reliably applied at Portuguese organisations to evaluate their current level of organisational performance and to propose recommendations to improve performance. Originality/value This research study fills the gap of the currently rather limited literature on the application of holistic and effective improvement techniques in Portugal, and as such future researchers can use the framework to conduct a more in-depth study of performance gains in the Portuguese context. Portuguese managers now have at their disposal a holistic improvement technique validated for their context, so they can use the HPO framework with confidence to start improving their own organisations.

Power distance and landlord-tenant practices across countries

2017 ◽  
Vol 10 (5) ◽  
pp. 628-640
Author(s):  
Hassan Gholipour Fereidouni ◽  
Reza Tajaddini
Keyword(s):  
Cultural Values ◽  
Design Methodology ◽  
Power Distance ◽  
Real Estate Market ◽  
Cultural Dimension ◽  
Content Type ◽  
Explanatory Variables ◽  
Financial Variables ◽  
Alternative Measures ◽  
Market Variables

Purpose This paper aims to investigate whether cultural dimension of power distance, which is the extent that inequality is expected and accepted in societies, can explain underlying differences in landlord-tenant practices (LTP) across countries. Design/methodology/approach The authors use a sample covering countries from different regions. They apply the ordered probit regressions to estimate the relationships between the explanatory variables and LTP. Findings The results show that hierarchical societies demonstrate more pro-landlord practices. This finding is robust to alternative measures of power distance and different sample sizes. In addition, the authors find that countries with larger rental sectors and larger numbers of landlords with mortgages demonstrate more pro-tenant practices. The results also show that differences in LTP across countries are not significantly influenced by legal origin. Originality/value To the best of the authors’ knowledge, very limited studies have investigated the determinants of LTP across countries. In addition, while cultural values such as power distance have been used to explain the economic, social and financial variables, less, if any, number of studies have used them to explain the variation of real estate market variables such as LTP.

scholarly journals An investigation into BIM uptake among contracting firms: an empirical study in Nigeria

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Solomon Olusola Babatunde ◽  
Srinath Perera ◽  
Damilola Ekundayo ◽  
Damilola Sarah Adeleke
Keyword(s):  
Factor Analysis ◽  
Construction Industry ◽  
Performance Improvement ◽  
Design Methodology ◽  
Information Modeling ◽  
Construction Sector ◽  
Content Type ◽  
Current State ◽  
Building Information ◽  
Practical Implications

Purpose Building information modeling (BIM) is vital in the performance improvement of contracting firms. Thus, there is a need to stimulate its implementation in the construction sector with a view to meeting the competitive demands of the industry. However, there have been very few studies on BIM implementation among contracting firms in Nigeria. Hence, this study aims to examine the current BIM uptake among Nigerian contracting firms, assess the barriers to BIM implementation and examine the ways of improving BIM implementation within these contracting firms. Design/methodology/approach A questionnaire survey was conducted on contracting firms (comprising small-, medium- and large-sized firms) in Lagos, Nigeria. The obtained data were analyzed using both descriptive and inferential statistics. These included percentage, mean score, standard deviation, the Kruskal–Wallis test and factor analysis. Findings This study revealed the current state of BIM implementation among contracting firms in Nigeria in terms of their knowledge of BIM, their usage of BIM as well as the BIM software adopted. Furthermore, the study identified 25 barriers to BIM implementation in contracting firms and identified 15 ways to improve BIM implementation in contracting firms. The relative importance of both the identified barriers and the ways for improving BIM implementation was gauged among contracting firms comprising small-, medium- and large-sized firms. The result of the Kruskal–Wallis test revealed that, except for two (out of 25) identified barriers, and one (out of 15) identified ways of improving BIM implementation in contracting firms, there is no significant statistical difference in the perceptions of the three respondents’ groups. The result of the factor analysis categorized the identified 25 barriers into seven main factors. Practical implications This study provides empirical evidence on the barriers to BIM implementation and the ways of improving its implementation among contracting firms, thereby providing a better insight of the Nigerian construction industry’s BIM environment. Originality/value This study’s findings can positively inform the decisions of construction stakeholders to formulate strategies capable of improving BIM implementation in the construction industry at large.

Implementation of technologies in the construction industry: a systematic review

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Xichen Chen ◽  
Alice Yan Chang-Richards ◽  
Antony Pelosi ◽  
Yaodong Jia ◽  
Xuesong Shen ◽  
...  
Keyword(s):  
Systematic Review ◽  
Data Acquisition ◽  
Construction Industry ◽  
Construction Projects ◽  
Business Models ◽  
Full Potential ◽  
Construction Sector ◽  
Content Type ◽  
Construction Companies ◽  
Holistic Understanding

PurposeWith interest in modern construction methods and new technologies on the rise, construction companies globally are increasingly looking at how to embrace new ideas and engage with new approaches to do things better. A significant amount of work has been carried out investigating the use of individual technologies in the construction sector. However, there is no holistic understanding of the new and emerging technologies that have had proven benefits for construction projects. To fill this gap, this paper aims to provide a landscape of technologies that have been implemented in the construction industry and the benefits associated with their implementation.Design/methodology/approachA systematic review approach and PRISMA guidelines were used. A total of 175 articles published between 2001 and 2020 were identified and thoroughly reviewed.FindingsThe results show that a total of 26 technologies were identified from the literature, and these can be categorised into five groups in terms of their functionality in construction process, namely: (1) data acquisition, (2) analytics, (3) visualisation, (4) communication and (5) design and construction automation. Digital technologies, especially for data acquisition and visualisation, generally appear to underpin and enable innovation in many aspects of construction. Improvements in work efficiency, health and safety, productivity, quality and sustainability have been cited as being the primary benefits of using these technologies. Of these, building information modelling (BIM) appears to be the single most commonly used technology thus far. With the development of computer technology, BIM has constantly been used in combination with other technologies/tools such as unmanned aerial vehicles/systems (unmanned aerial vehicle (UAV)/UAS), geographic information systems (GIS), light detection and ranging (LiDAR) and multidimensional modelling to realise a specifically defined benefit.Practical implicationsThe findings from this review would help construction practitioners identify the types of technologies that can be implemented in different stages of construction projects to achieve desired outcomes, and thus, make appropriate decisions on technology investment and adoption. This review also suggests that to reap the full potential that these technologies offer, aside from construction companies changing their culture and business models, corresponding changes in the construction sector’s operating systems related to building regulation, education and training, as well as contracting and procurement are required.Originality/valueThis paper undertakes a comprehensive systematic review of studies on technology implementation in the construction sector published between 2001 and 2020. It is the first attempt internationally to provide a holistic picture of technologies that have been studied and implemented in construction projects.

Grand challenges for the Indian construction industry

2014 ◽  
Vol 4 (4) ◽  
pp. 317-334 ◽  
Author(s):  
Anil Sawhney ◽  
Raghav Agnihotri ◽  
Virendra Kumar Paul
Keyword(s):  
Construction Industry ◽  
Delphi Study ◽  
National Level ◽  
Health Sector ◽  
National Development ◽  
Construction Sector ◽  
Content Type ◽  
Social Growth ◽  
Grand Challenges ◽  
Growth Prospects

Purpose – Today, construction sector of most emerging economies, including India, is witnessing sharp growth prospects on the one hand and pressure to effectively and efficiently contribute to the national development on the other. The Indian construction industry is one of the major stimulants of the economic and social growth of the nation. However, the sector is confronted by numerous issues, thereby reducing its efficacy and unhindered growth prospects. The purpose of this paper is to extract various industry impediments and suggest a prioritized listing of challenges faced by the industry using the Grand Challenges Approach (GCA). Design/methodology/approach – Motivated by the GCA this study uses the Delphi process for consensus building in the expert panel, comprising of 39 professionals from across various industry stakeholders. A qualitative round was first used to acquire views on the challenges. Consequently two quantitative Delphi rounds were conducted to extract Top-10 Challenges for the industry based on two aspects – priority and impact. A wider industry survey was also carried out, which served as an unscientific validation of the Delphi Study. Findings – Grand Challenges facing the Indian construction sector were identified. Addressing these challenges at the national level has the potential of transforming the industry to highly efficient, quality cantered and bullish industry capable of delivering successfully. Originality/value – The GCA, used extensively by the health sector internationally, is used for the Indian construction industry in a novel way to set an agenda for enhancing its operational efficiency.

The need for and benefits of buildability analysis: Nigeria as a case study

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Innocent Chigozie Osuizugbo
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Design Methodology ◽  
Poor Correlation ◽  
Construction Sector ◽  
Construction Process ◽  
Content Type ◽  
Significant Difference ◽  
Analysis Programme

Purpose Buildability analysis has a potential of improving the outcomes of construction projects. However, the usage of buildability analysis is not well pronounced within the construction sector. This study aims to provide understanding of the concept of buildability analysis with the view to predicting the future stance for buildability analysis. Design/methodology/approach The study adopted a survey research method. Questionnaires were administered to purposively selected group of construction professionals working in Nigeria. A total of 82 questionnaires were administered among the sampled respondents, out of which a total of 51 (62.2%) were adequately filled and returned. The data collected were analysed using descriptive and inferential statistics. Findings The results revealed inability of the designers and constructors to have a common upstanding of the entire construction process, fragmented nature of the construction industry and poor correlation between design and construction as the most essential needs for buildability analysis. On the benefits of buildability analysis, the results showed increase in efficiency, save wasteful efforts and quality improvement as the most significant ones. In addition, the results from the study revealed that there is a statistically significant difference in some of the needs for and benefits of buildability analysis among the survey participants. Originality/value The study identified three future stances for buildability analysis to include building unity, efficient and effective construction and high competition. Framework for buildability analysis was developed aimed at providing guidance to professionals in achieving enhanced project production information. The findings provide in-depth insight of the needs for and benefits of buildability analysis that can inform professionals in the construction industry to adopt buildability analysis programme as a lasting solution to most design challenges and buildability problems confronting the sector.

Improving construction sector resilience

2016 ◽  
Vol 7 (2) ◽  
pp. 173-185 ◽  
Author(s):  
Suzanne Wilkinson ◽  
Alice Yan Chang-Richards ◽  
Zulkfli Sapeciay ◽  
Seosamh B. Costello
Keyword(s):  
Construction Industry ◽  
Construction Sector ◽  
Content Type ◽  
Role Construction ◽  
Construction Company ◽  
Construction Companies ◽  
Resilience Management ◽  
The Impact ◽  
Post Disaster ◽  
Practical Implications

Purpose Improving the resilience of the construction sector helps countries recover quicker from crises and can assist with improving community resilience and recovery. This study aims to explore ways in which the construction sector might improve its resilience. Design/methodology/approach This paper examined past disasters and the role construction plays to understand what and how better construction resilience can be built, and the impact this will have on recovery and reconstruction. Findings The findings showed that after a crisis, the construction sector is called upon to manage building and infrastructure recovery and reconstruction. Construction organisations are needed by the community, as they provide physical resources, people, materials, logistics, management and technical expertise and rebuilding. To ensure that recovery and reconstruction programs are successfully implemented, it is necessary for the construction sector to be resilient. To achieve improved resilience in the construction industry, disaster resilience management needs to become mainstreamed into construction processes. Research limitations/implications Although larger organisations have some preparation to respond to crises, including having emergency or disaster plans, smaller companies struggle to achieve a reasonable level of resilience. It appears that senior management and key people in construction organisations are familiar with the procedures but that the majority of staff in organisations lack knowledge and skills. Practical implications Understanding the role the construction sector plays in disasters and providing directions for improving construction sector resilience will ultimately improve recovery and reconstruction outcomes. Social Implications This paper discusses how communities rely on services provided by construction organisations to enable them to recover from emergencies and crises. Pre-disaster construction company resilience impacts on the ability of construction companies to function post-disaster. Originality/value This paper focuses on a number of cases and shows where and how the construction sector has worked in disasters and provides a new analysis of the role the industry plays, and the various disaster stages where the industry has maximum impact.

scholarly journals Assessing off-site readiness in construction organisations: cases from India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Deepthi Bendi ◽  
Muhammad Qasim Rana ◽  
Mohammed Arif ◽  
Steve Michael Lamb ◽  
Anil Sawhney ◽  
...  
Keyword(s):  
Case Studies ◽  
Construction Industry ◽  
Future Research ◽  
Maturity Model ◽  
Construction Sector ◽  
Case Study Methodology ◽  
Content Type ◽  
Factors Affecting ◽  
Critical Issues ◽  
Readiness To Adopt

Purpose This paper aims to present factors affecting the Indian construction organisations in adopting off-site construction (OSC) methods. Design/methodology/approach An existing readiness maturity model has been used to assess three large organisations in different parts of India. A case study methodology has been adopted in this paper to highlight critical issues in OSC adoption in India. Findings This paper presents three case studies and concludes the Indian construction sectors readiness to adopt the OSC methods. Through the case studies, different issues related to the adoption of OSC have been identified and highlighted for the Indian construction sector. Although the three companies are large, there are several small- and medium-sized enterprises (SME) operating in India's construction sector, and future research shall be needed to review these SMEs. Research limitations/implications This research study is broadly focused on developing and assessing an OSC readiness framework for Indian construction organisations. The research scope and the population for data collection are limited to large construction organisations in India only. Practical implications The proposed OSC readiness maturity model guides construction practitioners in India through a structured process to assess their OSC readiness in the market. This assessment enables them to evaluate and benchmark their processes through the strategic and operational phases. This research will add to the existing knowledge of OSC in India by mapping issues relevant to India's construction industry. The research has provided background on the status of OSC, the drivers and barriers affecting the implementation of OSC techniques in the Indian construction industry. Originality/value Through the three case studies, several factors related to the implementation of OSC methods have been identified and highlighted within the Indian construction sector. Although the model has been applied to the Indian construction sector, it can easily be modified to fit into other areas and similar dynamics and business conditions.

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