Construction will depend on Greek consumer confidence

2019 ◽  
Keyword(s):  
Residential Building ◽  
Investment Climate ◽  
Construction Sector ◽  
Public Infrastructure ◽  
Sharp Drop ◽  
Content Type ◽  
Construction Firms ◽  
Main Driver ◽  
D Investment ◽  
Skill Shortages

Subject Construction sector. Significance Before 2009, construction was a main driver of domestic economic growth. Subsequently, a sharp drop in residential building and a decline in public infrastructure spending reduced output to half the pre-crisis level. Impacts The lower participation of those up to 25 years old post-crisis is likely to lead to future skill shortages. A drop in R&D investment and innovation will undermine construction firms’ future competitiveness. The improved investment climate under the new government should support net FDI into real estate, after record levels in 2018.

Fading FDI faces increasing challenges in Chile

2016 ◽  
Keyword(s):  
Foreign Direct Investment ◽  
Foreign Investment ◽  
Direct Investment ◽  
Food Industry ◽  
Public Infrastructure ◽  
Sharp Drop ◽  
Content Type ◽  
Investment Promotion ◽  
The Government

Subject The fall in foreign investment last year. Significance The government has launched a new Foreign Investment Promotion Agency (APIE) to buck a sharp drop in foreign direct investment (FDI) last year. Breaking with the country's long-standing sector-agnostic approach, the agency will seek to attract investment to specific sectors, including energy, public infrastructure and the food industry. Impacts A more business-friendly administration in Argentina could potentially divert FDI from Chile. Critics of the new FDI regulation maintain that it will dampen inflows. Efforts to attract investment in food and mining services represent a bid to diversify from mineral exports.

scholarly journals Convergence Among the Submarkets in Australian Regional Building and Construction Sector

2010 ◽  
Vol 10 (4) ◽  
pp. 11-33 ◽  
Author(s):  
Junxiao Liu ◽  
Kerry London
Keyword(s):  
Residential Building ◽  
Building Construction ◽  
Construction Sector ◽  
Causality Test ◽  
Vector Error Correction ◽  
Construction Firms ◽  
Construction Market ◽  
House Construction ◽  
Econometric Tests ◽  
Market Convergence

Studies on market convergence are well considered in the literature. However, the majority of the previous research focused on housing markets and few studies have concentrated on construction markets. Owing to a simultaneously dramatic increase in the construction prices of the sub-markets in the building construction sector in Australia, this paper aims to identify the convergence among these markets, involving house construction market, other-residential building construction market, and non-residential building construction market. To achieve it the Granger causality test and generalized response function depending on the vector error correction model with the quarterly data of Australia’s eight states from 1998 to 2010 will be applied. Based upon the econometric tests, the price diffusion patterns among these construction markets have been identified. Research on the convergences of construction markets not only helps construction firms perform well in business operations and arbitrage activities, but also provides policy makers with useful information for enacting effective construction policies for national perspectives and approaches to infrastructure planning.

Financial determinants of value based performance of construction firms in India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Harish Kumar Singla ◽  
Anand Prakash
Keyword(s):  
Research And Development ◽  
Geographic Location ◽  
Performance Measure ◽  
Error Component ◽  
Tobin’S Q ◽  
Construction Sector ◽  
Tobin's Q ◽  
Industrial Construction ◽  
Content Type ◽  
Construction Firms

PurposeThe purpose of the study is to examine the value-based performance of firms in construction sector in India using Tobin's Q and Market Capitalization (MCAP) and then determine their significant financial drivers.Design/methodology/approachThe study is based on data from 87 firms engaged in infrastructure, real estate, industrial construction and allied areas in India over a study period of 10 years. Three distinct forms of panel regression models have been developed using Tobin's Q and MCAP as dependent variables. The models developed are using Baltagi's (1981) Error Component 2SLS, Varadharajan-Krishnakumar's (1987) Generalized 2SLS and Arellano – Bower/Blundell – Bond's (1991) dynamic panel.FindingsThe study found that MCAP is a better suited value-based performance measure for construction sector firms in India. The study further reports that the age of the firm, profit after tax, investment in research and development, dividends, leverage and net fixed asset are significant positive drivers, whereas cash flow is a significant negative driver.Research limitations/implicationsThe study is limited to a geographic location; therefore, the findings of this study cannot be generalized.Practical implicationsAs MCAP is a better suited value-based performance measure of a firm in the construction sector, managers should focus on improving profitability, higher research and development activities, higher dividends and higher expenditures on net fixed assets for improvement.Originality/valueThis is an original attempt to examine the value-based performance of firms in the construction sector in India using Tobin's Q and MCAP.

Mexico's construction sector faces mixed prospects

2016 ◽  
Keyword(s):  
Market Share ◽  
Housing Development ◽  
Residential Construction ◽  
Construction Sector ◽  
Infrastructure Projects ◽  
Public Infrastructure ◽  
Housing Subsidy ◽  
New Developments ◽  
Content Type ◽  
Spending Cuts

Subject Mexico's construction sector. Significance Statistics from the National Institute of Statistics and Geography (INEGI) suggest Mexico's construction sector faces mixed fortunes. While housing development is increasing after some difficult years, non-residential construction is faring less well, with firms preferring to improve existing facilities rather than investing in new developments. Spending cuts also raise questions over the future of public infrastructure projects. Impacts Housing developers may struggle to absorb the market share left by bankrupt former competitors. A new government after the 2018 general election could change housing subsidy policies. Lack of growth for the sector as a whole will exacerbate low-skilled unemployment.

scholarly journals Reflecting on knowledge management as an enabler of innovation in project-based construction firms

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Natalya Sergeeva ◽  
Meri Duryan
Keyword(s):  
Knowledge Management ◽  
Cognitive Mapping ◽  
Holistic Approach ◽  
Construction Sector ◽  
Structured Interviews ◽  
Firm Level ◽  
Content Type ◽  
Construction Firms ◽  
Innovative Capabilities ◽  
Innovative Thinking

Purpose This paper aims to explore the ways innovation becomes enabled through knowledge management and sharing which has important implications for establishing and sustaining the culture of innovative thinking in project-based construction firms. This study adopts a reflective practitioner perspective to explore this relationship. Design/methodology/approach In total, 30 semi-structured interviews were conducted with the construction sector professionals whose roles are most relevant in the connection between innovation and knowledge management. Thematic analysis and cognitive mapping techniques were used to analyse the interview data. Findings The research findings indicate that due to the complexity of project-based construction firms, a more holistic approach to knowledge management and organisational learning at the firm level is required. This would enable a culture of continuous and coordinated knowledge flow that facilitates innovation and continuous improvement in project-based firms. Practical implications This paper has important implications for practising managers in project-based construction firms. By better understanding the ways organisational knowledge can be managed to become an enabler of innovation would allow to build and enhance firms’ innovative capabilities, individual and team competencies. There is a real need for innovation knowledge managers as formal job positions in the construction sector. Originality/value This study contributes to construction innovation and project management research and practice by providing insights into establishing and sustaining the culture of learning and innovative thinking.

The driving process of technological innovation in construction: a firm-level CDM analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zheng Gong ◽  
Nannan Wang
Keyword(s):  
Construction Industry ◽  
Influencing Factors ◽  
Technological Innovation ◽  
Firm Level ◽  
Content Type ◽  
Construction Firms ◽  
Construction Market ◽  
Innovation Output ◽  
And Performance ◽  
D Investment

Purpose Innovation has been acknowledged as the key for modern industries. However, the construction industry is criticised for being poor in innovation performance compared to other industry sectors. Large construction firms are the main contributor to technological innovation in the construction industry, but the driving process of their technological innovation has not yet been fully investigated in previous studies. The purpose of this paper is to provide quantitative analysis of the technological innovation driving process of large construction firms. Design/methodology/approach An extended crépon, duguet and mairesse (CDM) model has been developed to analyse the key influencing factors for technological innovation in construction firms. The sample data are selected from the world’s largest construction market, China, and include 129 listed construction firms. Findings The results show significant positive correlation between R&D investment and innovation output and also between innovation output and performance. The effect of influencing factors on the R&D investment, innovation output and performance are also revealed by the empirical study. The underlying reasons are discussed and suggestions are given for the construction industry to improve the technological innovation capacity of construction firms. Originality/value This research contributes to the literature of construction innovation and benefits practitioners by providing a quantitative approach to demonstrate the driving process of innovation in construction firms.

Does ownership structure and market sentiment affect the performance of IPOs in India in short run? A dynamic panel data analysis

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Harish Kumar Singla
Keyword(s):  
Ownership Structure ◽  
Institutional Ownership ◽  
Dynamic Panel Data ◽  
Construction Sector ◽  
Dynamic Panel ◽  
Content Type ◽  
Construction Firms ◽  
Market Sentiment ◽  
Concentrated Ownership ◽  
Short Run

Purpose This study aims to compare the short-run performance of construction and non-construction initial public offerings (IPOs) that are offered in India during 2006–2015. The study also attempts to investigate the impact of ownership structure (i.e. concentrated ownership in the hand of promoters and institutional ownership) and market sentiment on the performance of construction sector IPOs in short run. Design/methodology/approach A total of 281 IPOs were listed at National Stock Exchange, India, during the study period, and 44 of those were from construction sector. The short-run performance of these construction and non-construction IPOs was compared using two indicators, i.e. monthly stock return (SR) and excess return over market benchmark (MAR). To examine the effect of concentrated ownership in the hand of promoters, institutional ownership and market sentiment on IPO performance, systematic dynamic panel regression model was developed. Findings The IPOs of construction firms perform significantly better than the non-construction firms. The performance of construction IPOs is significantly driven by the lag effect. This suggests a significant informational inefficiency, which results in a delayed reaction by investors. The market sentiment has a positive influence on the performance of construction sector IPOs, whereas the institutional holding has a negative influence. Originality/value To the best of the author’s knowledge, this study is the first attempt to examine the performance of construction sector IPOs in short run. The study uses systematic dynamic panel data regression, which provides better and reliable estimates.

PROMETHEE-based ranking of project managers based on the five personality traits

Kybernetes ◽  
2019 ◽  
Vol 49 (4) ◽  
pp. 1083-1102
Author(s):  
Georgios N. Aretoulis ◽  
Jason Papathanasiou ◽  
Fani Antoniou
Keyword(s):  
Personality Traits ◽  
Questionnaire Survey ◽  
Multicriteria Decision Making ◽  
Project Managers ◽  
Preference Ranking ◽  
Infrastructure Projects ◽  
Public Infrastructure ◽  
Content Type ◽  
The One ◽  
Selection Of

Purpose This paper aims to rank and identify the most efficient project managers (PMs) based on personality traits, using Preference Ranking Organization METHod for Enrichment Evaluations (PROMETHEE) methodology. Design/methodology/approach The proposed methodology relies on the five personality traits. These were used as the selection criteria. A questionnaire survey among 82 experienced engineers was used to estimate the required weights per personality trait. A second two-part questionnaire survey aimed at recording the PMs profile and assess the performance of personality traits per PM. PMs with the most years of experience are selected to be ranked through Visual PROMETHEE. Findings The findings suggest that a competent PM is the one that scores low on the “Neuroticism” trait and high especially on the “Conscientiousness” trait. Research limitations/implications The research applied a psychometric test specifically designed for Greek people. Furthermore, the proposed methodology is based on the personality characteristics to rank the PMs and does not consider the technical skills. Furthermore, the type of project is not considered in the process of ranking PMs. Practical implications The findings could contribute in the selection of the best PM that maximizes the project team’s performance. Social implications Improved project team communication and collaboration leading to improved project performance through better communication and collaboration. This is an additional benefit for the society, especially in the delivery of public infrastructure projects. A lot of public infrastructure projects deviate largely as far as cost and schedule is concerned and this is an additional burden for public and society. Proper project management through efficient PMs would save people’s money and time. Originality/value Identification of the best PMbased on a combination of multicriteria decision-making and psychometric tests, which focus on personality traits.

scholarly journals Green business models in the construction sector: an analysis of outcomes and benefits

2018 ◽  
Vol 18 (1) ◽  
pp. 20-42 ◽  
Author(s):  
Amal Abuzeinab ◽  
Mohammed Arif ◽  
Mohd. Asim Qadri ◽  
Dennis Kulonda
Keyword(s):  
Environmental Sustainability ◽  
Business Models ◽  
Dominant Role ◽  
Business Case ◽  
Essential Elements ◽  
Construction Sector ◽  
Structured Interviews ◽  
Content Type ◽  
Green Business ◽  
The Uk

Purpose Green business models (GBMs) in the construction sector represent the logic of green value creation and capture. Hence, the call to examine GBMs is growing ever louder. The aim of this paper is to identify benefits of GBMs by adopting five essential elements of the GBM from the literature: green value proposition; target group; key activities; key resources (KR); and financial logic. Design/methodology/approach In all, 19 semi-structured interviews are conducted with construction sector practitioners and academics in the UK. Thematic analysis is used to obtain benefits of GBMs. Further, the interpretive ranking process (IRP) is used to examine which elements of the GBM have a dominant role in providing benefits to construction businesses. Findings The benefits are grouped into three themes: credibility/reputation benefits; financial benefits; and long-term viability benefits. The IRP model shows that the element of KR is the most important when evaluated against these three benefit themes. Practical implications Linking GBM elements and benefits will help companies in the construction sector to analyse the business case of embracing environmental sustainability. Originality/value This research is one of the few empirical academic works investigating the benefits of GBMs in the construction sector. The IRP method is a novel contribution to GBMs and construction research.

Sustainable life cycle offers through cooperation

2015 ◽  
Vol 4 (1) ◽  
pp. 4-24 ◽  
Author(s):  
Julia Selberherr
Keyword(s):  
Sustainable Development ◽  
Life Cycle ◽  
Business Model ◽  
Value Creation ◽  
Business Models ◽  
Service Providers ◽  
Construction Sector ◽  
Content Type ◽  
New Business ◽  
Societal Level

Purpose – Sustainable buildings bear enormous potential benefits for clients, service providers, and our society. To release this potential a change in business models is required. The purpose of this paper is to develop a new business model with the objective of proactively contributing to sustainable development on the societal level and thereby improving the economic position of the service providers in the construction sector. Design/methodology/approach – The modeling process comprises two steps, the formal structuring and the contextual configuration. In the formal structuring systems theory is used and two levels are analytically separated. The outside view concerns the business model’s interaction with the environment and its impact on sustainability. The inside view focusses on efficient value creation for securing sustainability. The logically deductively developed business model is subsequently theory-led substantiated with Giddens’ structuration theory. Findings – The relevant mechanisms for the development of a new service offer, which creates a perceivable surplus value to the client and contributes to sustainable development on the societal level, are identified. The requirements for an efficient value creation process with the objective of optimizing the service providers’ competitive position are outlined. Research limitations/implications – The model is developed logically deductively based on literature and embedded in a theoretical framework. It has not yet been empirically tested. Practical implications – Guidelines for the practical implementation of more sustainable business models for the provision of life cycle service offers are developed. Social implications – The construction industry’s impact requires it to contribute proactively to a more sustainable development of the society. Originality/value – This paper analyzes the role for the players in the construction sector in proactively contributing to sustainable development on the societal level. One feasible strategy is proposed with a new business model, which aims at cooperatively optimizing buildings and infrastructures and taking the responsibility for the operating phase via guarantees.

Sign in / Sign up

Export Citation Format

Share Document