Risk perception in PPP infrastructure project financing in India

2020 ◽  
Vol 25 (3) ◽  
pp. 347-369
Author(s):  
Pankaj Kumar Gupta ◽  
Harender Verma
Keyword(s):  
Risk Perception ◽  
Relative Importance ◽  
Project Financing ◽  
Infrastructure Projects ◽  
Content Type ◽  
Infrastructure Project ◽  
The Government ◽  
Risk Managers ◽  
Practical Implications ◽  
Risk Categories

Purpose The purpose of this paper is to examine the risk perception of project sponsors in financing of public–private partnership (PPP) infrastructure projects in India. Design/methodology/approach The methodology used is survey questionnaire that seeks the perception of risk managers in PPP projects. Rating and relative ranking of risk at various phases of PPP project have been analyzed and supplemented by unstructured interviews. Findings This paper shows that the perception of project sponsors for various levels of project risk categories differ significantly in PPP infrastructure projects. The practices of assessing risk and handling differ among the financing institutions. The ranking of risks shows a disagreement among respondents for relative importance. The project financiers that include major banks and financial institutions funding for the PPP infrastructure projects perceive risks differently, and their disagreement on the relative importance of risks may create a sub-optimality in risk management, and the essence of project sponsorship may be lost. Research limitations/implications This paper examines the perceptions of the various risks involved in PPP infrastructure project financing. The authors emphasize on the infrastructure projects in the transportation and energy sector that are undertaken in the PPPs. This research can further be extended to the other infrastructure sectors such as roads, shipping and communication. Practical implications Experiences reveal that risk perception profoundly influence the implementation of infrastructure projects involving PPPs. To ensure smooth implementation and success of PPP infrastructure projects, the project sponsors must align, synchronize and develop consensus on the various funding and non-funding risks into the project curriculum. Social implications The PPP infrastructure projects carry huge investment and are of strategic importance to the nation and society. In order that the provision of infrastructure which can be most economically and efficiently delivered through PPPs, the risk concordance assumes crucial importance. Originality/value The authors believe that this research may provide new direction to the visible and invisible misbalances in risk postures of project partners, which has been a cause of concern to the government and policymakers in India in the recent times.

The nexus between the increasing involvement of youth in betting games and unemployment: the Nigerian perspective

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gbemi Oladipo Olaore ◽  
Bimbo Onaolapo Adejare ◽  
Ekpenyong Ekpenyong Udofia
Keyword(s):  
Structural Equation ◽  
Family Income ◽  
Equation Model ◽  
Content Type ◽  
Global Industry ◽  
Youth Involvement ◽  
Technology Advancement ◽  
Confirmatory Factor ◽  
The Government ◽  
Practical Implications

Purpose Betting games have become a global industry worth billions of dollars providing employment to millions and contributing to the gross domestic product (GDP) of several countries. While there are debates and controversies surrounding betting games discourse, a growing body of literature shows that it has been exacerbated by growing unemployment rates. This paper aims to examine the nexus between the increasing involvement of youth in betting games and unemployment from the Nigerian perspective. Design/methodology/approach The study adopts simple random and stratified sampling techniques to select participants for the study. Three hypotheses were tested for this study and confirmatory factor analysis (CFA) and structural equation model (SEM) was used to test the hypotheses. Findings The three hypotheses tested in this study were coined from previous literature. The study established a direct link between technology advancement, promises of winning big coupled with bonuses while unemployment was not significant to youth involvement in betting games. The study also showed that playing betting games provides another source of income to the youth, who are already engaged in one form of work or another. Finally, youth involvement in betting games has created awareness regarding different sports in the world, while contributing to Nigeria’s economy. Practical implications As betting games centre as a business in Nigeria has contributed substantially and positively to unemployment in Nigeria; the Government of Nigeria are encouraged to streamline and regulate the activities of the sector such that they can contribute significantly to the country GDP and provide employment opportunities to the youths. Originality/value The research shows that the reason why betting games have a massive turnaround of youths in Nigeria is not majorly because of unemployment but as another means to a substantial financial individual/family income. Thus, Nigerian youths see betting games as an avenue to make more money. The study is the first of its kind to examine the nexus between betting games, technology and unemployment hence, its contribution to knowledge.

Development land valuation accuracy in China – a case study of Beijing

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mengmeng Dou ◽  
Lesley Anne Hemphill ◽  
Lay Cheng Lim
Keyword(s):  
Market Price ◽  
Market Dynamics ◽  
Industrial Land ◽  
Content Type ◽  
Industrial Market ◽  
Transaction Prices ◽  
Land Valuation ◽  
Market Transaction ◽  
The Government ◽  
Practical Implications

PurposeThe paper aims to quantitatively investigate vacant industrial land valuation accuracy in China, given the importance of the industrial market as an underlying pillar to promote urban growth especially in emerging economies.Design/methodology/approachIn China, the government formulates a Land Benchmark Price (LBP) to serve as a price reference point to sell land rights. To gain an in-depth understanding of the valuation practice by LBP, this paper uses correlation analysis to investigate the varying dynamics between the transaction-based prices and LBP appraisal-based estimates. Furthermore, a margin of error examination investigates the distortion in LBP land appraisals, with an amended LBP presented to improve the accuracy of the current LBP method.FindingsDifferent influencing factors are identified to impact the actual market transaction prices and the LBP construction, leading to a large discrepancy in industrial land appraisals. A systematic problem is recognised that the construction of the LBP follows urban bid curve theory, whereas the land transaction prices do not, demonstrating that an urgent LBP update is needed to capture the market dynamics for industrial market.Practical implicationsThe paper sets out discrepancies in valuation accuracy surrounding the application of the LBP valuation approach in China. This has practical implications for valuers in terms of raising their awareness of the deficiencies in the approach and the pitfalls they need to guard against in their appraisals. It also has implications for developers and investors who rely on valuer appraisals to assess the viability of land purchases; hence, they need to express caution in the appraisal advice sought. Finally, the results demonstrate to the standard setters how they need to modify the LBP equations to better capture market dynamics.Originality/valueThe paper examines valuation accuracy in transitional economies, through valuation differentials between appraised price and the transacted price. The value of the work lies in the analysis of the fundamental differentials between market price and appraised value, which is of importance to investors/developers, practicing valuers, as well as government officials responsible for setting the valuation standards.

Agripreneurship development: a strategy for revamping Nigeria’s economy from recession

2017 ◽  
Vol 8 (4) ◽  
pp. 474-483 ◽  
Author(s):  
Innocent Otache
Keyword(s):  
Economic Crisis ◽  
Design Methodology ◽  
Agricultural Sector ◽  
Content Type ◽  
Current Economic Crisis ◽  
Leadership Failure ◽  
Oil Sector ◽  
The Government ◽  
Creativity And Innovation ◽  
Practical Implications

Purpose The purpose of this paper is to explore agripreneurship development as a strategy for economic growth and development. Design/methodology/approach Though a few related literature were reviewed, this paper relies heavily on the author’s viewpoint regarding how Nigeria can grow and develop its economy through agripreneurship development. Findings The present economic challenges that Nigeria is facing are blamed on overdependence on the oil sector, bad governance, corruption, leadership failure, policy inconsistency, overdependence on imported goods and ostensible neglect of the agricultural sector. Also, policymakers, economic analysts and the government have advocated strongly for diversification of the economy. Besides, there is a consensus among scholars, economic analysts and policymakers that “agriculture is the answer.” Research limitations/implications This paper addresses specifically one sector of the economy – the agricultural sector. On the other hand, economic crisis needs to be addressed holistically by resolving specific issues that confront different sectors of the economy. Practical implications This paper has some insightful policy and practical implications for the Nigerian Government and Nigerians. The government and Nigerians need to take practical steps to grow and develop the economy. On the part of the government, apart from the need to transform the agricultural sector by allocating enough funds to it, the government should establish well-equipped agripreneurship development centers and organize periodically agripreneurship development programmes for the main purpose of training and developing both current and potential agripreneurs who will be able to apply today’s agricultural techniques and practices which involve a great deal of creativity and innovation for a successful agribusiness. The federal government should integrate agripreneurship education into Nigeria’s education system. Similarly, the Nigerian people, particularly the youths or graduates should be encouraged to choose agribusiness as a career. Originality/value While previous papers have offered different solutions to the current economic crisis that Nigeria is experiencing, ranging from economic to structural reforms, this paper differs significantly from others by recommending specifically agripreneurship development as a strategy for revamping Nigeria’s economy from its current recession. Moreover, there is a dearth of literature on agripreneurship and agripreneurship development. This paper therefore fills the literature gap.

scholarly journals Which cues cause consumers to perceive brands as more global? A conjoint analysis

2015 ◽  
Vol 32 (6) ◽  
pp. 606-626 ◽  
Author(s):  
Sarah De Meulenaer ◽  
Nathalie Dens ◽  
Patrick De Pelsmacker
Keyword(s):  
Cluster Analysis ◽  
Conjoint Analysis ◽  
Consumer Culture ◽  
Design Methodology ◽  
Product Category ◽  
Relative Importance ◽  
Brand Name ◽  
High Involvement ◽  
Content Type ◽  
Practical Implications

Purpose – The purpose of this paper is to investigate how the globalization (vs localization) of different cues (advertising copy, brand name, spokesperson, brand logo) influences consumers’ perceived brand globalness. Design/methodology/approach – The authors conducted conjoint analyses for two products differing in product category involvement (chocolates vs computer) with 200 consumers from the Netherlands. Additionally, based on cluster analysis, the authors divide respondents into two groups: local vs global consumer culture individuals, and the authors compare the results of the conjoint analysis for these two clusters. Findings – Advertising copy is most important in determining perceived brand globalness. The spokesperson and the brand logo determine perceived brand globalness more strongly for a low-involvement product, whereas the brand name is more important for a high-involvement product. Further, the spokesperson and the brand logo are relatively more important for global consumer culture individuals, while local consumer culture individuals find the brand name and advertising copy relatively more important. Practical implications – The most important cue to position a brand as global is the advertising copy. Brand managers of a low-involvement product and/or targeting global-minded consumers should concentrate on the spokesperson and the brand logo to position their brand. Managers of a high-involvement product and/or targeting local-minded people should focus on the brand name. Originality/value – While a number of researchers have emphasized the importance of perceived brand globalness for international consumer behavior, the present study is the first to the authors’ knowledge to investigate the relative importance of different cues in creating perceptions of brand globalness.

Scientific approach using AHP to prioritize low volume rural roads for pavement maintenance

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Akhilesh Nautiyal ◽  
Sunil Sharma
Keyword(s):  
Rural Areas ◽  
Socioeconomic Development ◽  
Public Works ◽  
Relative Importance ◽  
Road Transportation ◽  
Rural Roads ◽  
Content Type ◽  
Pavement Maintenance ◽  
Low Volume ◽  
The Government

PurposeA large number of roads have been constructed in the rural areas of India to connect habitations with the nearest major roads. With time, the pavements of these roads have deteriorated and they need some kind of maintenance, although they all do not need maintenance at the same time, as they have all not deteriorated to the same level. Hence, they have to be prioritized for maintenance.Design/methodology/approachIn order to present a scientific methodology for prioritizing pavement maintenance, the factors affecting prioritization and the relative importance of each were identified through an expert survey. Analytic Hierarchy Process (AHP) was used to scientifically establish weight (importance) of each factor based on its relative importance over other factors. The proposed methodology was validated through a case study of 203 low volume rural roads in the state of Himachal Pradesh in India. Ranking of these roads in order of their priority for maintenance was presented as the final result.FindingsThe results show that pavement distresses, traffic volume, type of connectivity and the socioeconomic facilities located along a road are the four major factors to be considered in determining the priority of a road for maintenance.Research limitations/implicationsThe methodology provides a comprehensive, scientific and socially responsible pavement maintenance prioritization method which will automatically select roads for maintenance without any bias.Practical implicationsTimely maintenance of roads will also save budgetary expenditure of restoration/reconstruction, leading to enhancement of road service life. The government will not only save money but also provide timely benefit to the needy population.Social implicationsRoad transportation is the primary mode of inland transportation in rural areas. Timely maintenance of the pavements will be of great help to the socioeconomic development of rural areas.Originality/valueThe proposed methodology lays special emphasis on rural roads which are small in length, but large in number. Instead of random, a scientific method for selection of roads for maintenance will be of great help to the public works department for better management of rural road network.

Start-up motives and challenges facing female entrepreneurs in Tanzania

2019 ◽  
Vol 11 (2) ◽  
pp. 102-119 ◽  
Author(s):  
Nsubili Isaga
Keyword(s):  
Urban Areas ◽  
Developed Countries ◽  
Access To Finance ◽  
Female Entrepreneurs ◽  
Public And Private ◽  
Developed Country ◽  
Content Type ◽  
The Government ◽  
Survey Responses ◽  
Practical Implications

Purpose Research on women-owned business is more extensive in developed countries than in developing countries and such one cannot compare the results. This paper aims to examine the motives of women in Tanzania (a less developed country) to start their own businesses and the challenges they faced in running their businesses. Design/methodology/approach Based on 400 response to a semi-structured questionnaire and in-depth interview with 20 female entrepreneurs. Subsequently, descriptive and factors analysis were performed to analyze the data Findings Based on survey responses, the primary reason for starting a business was to create employment for the woman herself. Other motives include supplementing income and enabling women to be able to do the kind of work they wanted to do. According to the factor analysis, female entrepreneurs are driven more by push factors than pull factors. The most serious problems faced by female entrepreneurs are lack of access to finance, gender-related problems and social and cultural commitments. Research limitations/implications The sample was selected from urban areas of only three regions, out of 26 regions in Tanzania. Researchers may extend the study to other regions; also, the non-probability sampling method used in this study essentially means that there is a limitation to the extent to which the research findings can be generalized to the rest of the population of female entrepreneurs in Tanzania. Practical implications Policy makers, financial institutions and all organization that have a stake on development on female entrepreneurs in Tanzania should design policies and programs that encourage and promote the creation and growth of businesses. Collective efforts from the government, public and private institutions and NGOs are needed to eliminate the challenges, especially gender-related problems. Practical implications By studying female owner-managers’ motivations and constraints, the author suggests that to a greater extent, gender-related problems, social and cultural commitments and access to finance and networks are the constraints faced by female entrepreneurs. Originality/value The research on female entrepreneurs in the context of Tanzania is scarce, this study responds to a need of better understanding women motivations and constraints. By studying these factors, this study shows that startup motives and constraints faced by female entrepreneurs are unique to different contexts.

Chinese construction worker reluctance toward vocational skill training

2019 ◽  
Vol 17 (1) ◽  
pp. 155-171
Author(s):  
Xiaoli Wang ◽  
Xincheng Wang ◽  
Yu Huang
Keyword(s):  
Construction Industry ◽  
Training Programs ◽  
Skill Training ◽  
Construction Workers ◽  
Labor Management ◽  
Training Experience ◽  
Content Type ◽  
Technological Level ◽  
The Government ◽  
Practical Implications

PurposeThough most construction workers in China possess minimal skillset, they are reluctant to attend vocational skill training sponsored by the government or enterprises. This paper aims to examine their willingness to attend the training from workers’ individual perspectives.Design/methodology/approachThe authors interviewed 492 construction workers on topics concerning their age, education, work tenure, technological level, daily wages, apprenticeship duration, apprentice channels and training experience; this information was then logistically analyzed to reveal if it influences construction workers’ willingness to attend training courses.FindingsThe results show that in a variety of possible influencing factors, technological level, apprenticeship duration and education are the most significant ones that affect construction workers’ willingness to attend vocational training. Technological level makes the greatest contribution to workers’ willingness to attend training, yet the effect of training experience and daily wages is minimal.Practical implicationsTo achieve sustainability in construction labor management, it is important to shed light on what influences worker’s willingness to attend training programs and take some efficient steps to address these issues.Originality/valueThis paper provides a new insight into the workers’ willingness to attend vocational skill training programs in the Chinse construction industry and suggests some practical implications for professionals and policymakers. Furthermore, the findings could prove valuable to other countries or industries, especially those sharing similarities to the Chinese construction industry.

Consumer evaluation of ingredient branding strategy

2017 ◽  
Vol 40 (7) ◽  
pp. 768-782 ◽  
Author(s):  
M. Deniz Dalman ◽  
Kartikeya Puranam
Keyword(s):  
Exploratory Research ◽  
Relative Importance ◽  
High Involvement ◽  
Content Type ◽  
Product Categories ◽  
Ingredient Branding ◽  
Decision Variables ◽  
Marketing Activities ◽  
The Relationship ◽  
Practical Implications

Purpose Prior research in ingredient branding (IB) has identified several important decision variables consumers use when evaluating IB alliances. This exploratory research aims to investigate the relationship between these variables and consumers’ buying likelihood of the IB alliance and the relative importance of these variables for low- vs high-involvement product categories. Design/methodology/approach A study with the participation of 458 mTurkers was conducted and the data were analyzed using random forests. Findings Findings reveal relative importance of different variables for an IB alliance and that these differ for low- vs high-involvement categories. Research limitations/implications Being exploratory in nature, this research has several limitations, such as using only one high- and one low-involvement categories. Practical implications Results of this research will help brand managers as they make decisions entering an IB alliance as well as with investing their budget on different aspects of their brand, and tailoring their marketing activities for low- vs high-involvement product categories. Originality/value To the best of authors’ knowledge, this paper is the first to discuss the relative importance of different decision variables in an IB context empirically.

The big bath of demonetization in India: strike on black money for corporate governance

2018 ◽  
Vol 21 (4) ◽  
pp. 594-600 ◽  
Author(s):  
Sandeep Goel
Keyword(s):  
Corporate Governance ◽  
Design Methodology ◽  
Content Type ◽  
Positive Effects ◽  
Corporate World ◽  
The World ◽  
Future Improvement ◽  
Policy Measures ◽  
The Government ◽  
Practical Implications

Purpose This paper aims to focus on the concept of abolition of black money and the demonetization movement started in India for cleaning black money and its impact on corporate world and Indian economy. It discusses the corporate governance effect of the demonetization scheme and various policy measures taken by the government to unearth and curb the black money in the country. It also states the challenges in its process of implementation and implications for future. Design/methodology/approach It appraises and reviews the concept of demonetization and its process in India since its implementation on November 8, 2016. Findings The biggest positive effects of this move were eradication of stocked and staked up money, cleansing of the financial system and improving governance in India. But its implementation had mix outcomes with its own challenges for future improvement. Practical implications The lessons drawn from the experience are expected to pave way for the countries at large. Originality/value It is an original paper on demonetization in India, and it is hoped that the lessons learnt thereof will pave the way for the world at large.

Chinese aquatic farmers' participation in modern marketing channels

2014 ◽  
Vol 116 (5) ◽  
pp. 780-791 ◽  
Author(s):  
Xianhui Geng
Keyword(s):  
Structural Equation ◽  
Marketing Channel ◽  
Marketing Channels ◽  
Single Item ◽  
Content Type ◽  
Function Mechanism ◽  
Relationship Networks ◽  
Selection Decision ◽  
The Government ◽  
Practical Implications

Purpose – The study uses survey data obtained in Jiangsu province, China, in June and August of 2012 to analyse the causal relations between aquatic farmers' relationship networks and trust, specific asset investments, joining in cooperatives and modern marketing channels participation. Design/methodology/approach – The authors used the structural equation mode to analyze the variables' causal relationships. Findings – The research results show that Chinese aquatic farmers' relationship networks can positively impact their participation in modern channels through the mediators of trust, specific assets investments and joining in cooperatives. Research limitations/implications – Two constructs are measured by a single item. Further study to incorporate multi-item constructs would be valuable. Practical implications – The policy implication is that the government should pay attention to farmers' relationship networks and can provide them with more public goods, especially channel and price information, to assist their evaluations and decision-making, which can help them to access modern marketing channels. Originality/value – The authors gave the answers that whether farmers' relationship networks affect their marketing channel selection decision and the function mechanism.

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