scholarly journals DEFAULT RISK OF THE CONSTRUCTION COMPANIES IN RELATION TO THEIR FINANCIAL CONDITION

2014 ◽  
Vol 9 (1) ◽  
pp. 236-244
Author(s):  
Jindřich Špička
Keyword(s):  
Construction Industry ◽  
Default Risk ◽  
Prediction Models ◽  
Significance Level ◽  
Construction Companies ◽  
Financial Condition ◽  
Highly Sensitive ◽  
Hard Times ◽  
Kolmogorov Smirnov

The construction industry is highly sensitive on economic cycle. So, construction companies have experienced hard times in the crisis period. The aim of the article is to identify, compare and evaluate financial position of companies with different payment habits in the Czech construction industry in the period 2008 – 2012 using individual data and suitable statistical methods (Kolmogorov-Smirnov test at the significance level of α = 0.05). The article also focuses on evaluation of the default risk coming from construction companies. The overall financial condition is analyzed through prediction models IN05 and Altman’s Z Score for emerging markets. Financial ratios of profitability, productivity, liquidity, indebtedness and turnover evaluate separately each area of financial situation. Based on the sample of 3 438 construction companies, the results show that payment habits increase with higher profitability (short-term and long-term), higher liquidity, lower debt ratio and higher liability turnover. Payment habits of construction companies could be better. Frequency analysis shows that 84.12 % of construction companies have proper, above-average or average payment habits with no later than 30 days delay in settlement of debt after maturity. However, 11 % of solvent companies have poor payments habits. Such companies are risky for their suppliers with respect to the secondary insolvency phenomenon.

scholarly journals Stimulating the accumulation of deposits in banks to finance the construction industry of the European Union

2018 ◽  
Vol 212 ◽  
pp. 08008
Author(s):  
Igor Anokhov
Keyword(s):  
European Union ◽  
Construction Industry ◽  
Construction Projects ◽  
The European Union ◽  
Short Term ◽  
Economic Cycles ◽  
Construction Companies ◽  
Construction Market ◽  
One Year

The paper is devoted to the search for a way of development of the construction industry by the deposits in banks. The analysis of the eurozone statistics has shown that most of the deposits are short-term ones. In addition, loans for the purchase of housing and loans to non-financial corporations are issued mainly for up to one year. This constrains the demand for housing and construction projects, limits the opportunities for long-term crediting construction companies, and also causes Juglar’s economic cycles. In this regard, measures are needed to make the financial plans of all stakeholders on the construction market lengthier. The author proposes to create the targeted deposits in banks under collateral in the form of buildings, structures, and infrastructure facilities. This will increase the propensity to save and invest free money in the construction industry.

scholarly journals The Importance of Marketing Strategy for Creating and Maintaining Goodwill for Construction Companies

2021 ◽  
Vol 6 (2) ◽  
pp. 21-26
Author(s):  
Radek Radek ◽  
Helena Hanusova ◽  
Zuzana Lipovska
Keyword(s):  
Marketing Strategy ◽  
Construction Industry ◽  
Technological Changes ◽  
Significant Deterioration ◽  
Construction Companies ◽  
Internal Accounting ◽  
The Cost ◽  
Market Construction ◽  
A Company

If a company wants to have a long-term presence on the market, it must have a long-term marketing strategy. It should respect the expected technical, technological and socio-economic development. All these factors are clearly manifested in the construction industry. Construction activities are specific in that their products are for long-term use and financially demanding for the investor. The underestimation of trends, technological changes and investor requirements leads to loss of clients and a significant deterioration in the economic situation. Creating a marketing strategy to keep it on the market can prevent these problems. In construction it means estimating trends and shaping a marketing strategy. This activity is very demanding and costly. It leads to the creation of Goodwill and its focus and is an integral part of the company’s assets. If is the marketing strategy insufficient or wrong, it will result in the loss of Goodwill and therefore clients in the market. Construction companies needs to build Goodwill and record it as part of the company’s property. Goodwill is also part of internal accounting. This is where the cost of marketing will take place, not only in terms of costs. There is a need for companies to deliberately choose the methods through which they will express the value of Goodwill.

scholarly journals The current state and ways of prospects of the construction industry of Ukraine

2020 ◽  
pp. 5-11
Author(s):  
Irina YEPIFANOVA ◽  
Sofiia MURADOVA
Keyword(s):  
Construction Industry ◽  
Innovation Activity ◽  
Construction Enterprises ◽  
Construction Companies ◽  
Doing Business ◽  
Current State ◽  
Number Of Factors ◽  
Fixed Assets ◽  
Wear And Tear

The paper reveals the current state of the construction industry in Ukraine. There is an important role for construction in creating conditions for the dynamic development of the country's economy. The purpose of the paper is to cover the current state of the construction industry in Ukraine on the basis of statistical information, to identify trends and factors influencing the dynamics of the industry. The main trends in the development of the construction industry have been identified and the changes that have occurred in industrial, residential and unfinished construction in recent years have been analyzed. The main reasons for the low innovation activity of Ukrainian enterprises are identified, which is especially dangerous in high conditions of wear and tear on fixed assets in construction. The influence of factors on the dynamics of construction development has been identified, priority areas for the development of the industry and construction enterprises have been proposed. Proposals have been formed to improve the state of the industry can provide construction companies with a long-term prospect of economic growth through the implementation of modern projects, sustainable increase in the volume of services sold, the formation of a positive image, and the like. The directions of ensuring the efficiency of activities are considered and the main ways to intensify the development of construction companies that contribute to their development are defined. A number of factors will further accelerate the growth rate, including the creation of a favorable investment climate, changes in legislation to facilitate doing business in Ukraine and, in particular, in the construction industry, improve the skills of personnel, and expand the introduction of the latest construction technologies. Their decisions generally affect the development of other sectors of the economy, stimulate improving the quality of life of the population.

Ovarian Dysfunction in Fetally Irradiated Beagles

1977 ◽  
Vol 35 ◽  
pp. 658-659
Author(s):  
T. M. Seed ◽  
M. H. Sanderson ◽  
D. L. Gutzeit ◽  
T. E. Fritz ◽  
D. V. Tolle ◽  
...  
Keyword(s):  
Gamma Rays ◽  
Low Dose ◽  
Long Term Effects ◽  
Ovarian Dysfunction ◽  
Dose Rates ◽  
Highly Sensitive ◽  
Microscopic Evaluation ◽  
Ovarian Pathology ◽  
Normal Offspring

The developing mammalian fetus is thought to be highly sensitive to ionizing radiation. However, dose, dose-rate relationships are not well established, especially the long term effects of protracted, low-dose exposure. A previous report (1) has indicated that bred beagle bitches exposed to daily doses of 5 to 35 R 60Co gamma rays throughout gestation can produce viable, seemingly normal offspring. Puppies irradiated in utero are distinguishable from controls only by their smaller size, dental abnormalities, and, in adulthood, by their inability to bear young.We report here our preliminary microscopic evaluation of ovarian pathology in young pups continuously irradiated throughout gestation at daily (22 h/day) dose rates of either 0.4, 1.0, 2.5, or 5.0 R/day of gamma rays from an attenuated 60Co source. Pups from non-irradiated bitches served as controls. Experimental animals were evaluated clinically and hematologically (control + 5.0 R/day pups) at regular intervals.

Assessment of Electronic Procurement Practices on Project Delivery, Case Study of Selected Construction Companies in Oyo State

2018 ◽  
pp. 257-266
Keyword(s):  
Construction Industry ◽  
Information Exchange ◽  
Ease Of Use ◽  
Project Delivery ◽  
Development Programs ◽  
Construction Firms ◽  
Construction Companies ◽  
Electronic Procurement ◽  
Ict Infrastructure ◽  
E Mail

This study investigated the use of e-Procurement in selected construction firms in Oyo state, Nigeria. The data were derived using a well-structured questionnaire survey involving 104 respondents. Descriptive statistical and correlation analyses were used to analyze the data. Findings show that the use of electronic procurement in the selected construction firms for carrying out procurement function is high with majority of the professionals affirming the use of the system, the four categories of e-Procurement used were e-mail, static websites, web.2.0 technologies and portals that have capabilities of supporting the execution of functions limited to intra and inter firm communication and exchange of project information and data. Consequently, between 84 percent and 76 percent of the respondents used these e-Procurement technologies for communication of information, exchange of bill of quantities, project reports, CAD drawings and project specifications. Consequently, factors with the highest positive impacts on the use of these technologies in the firms were the speed of transactions, lower transaction cost and ease of use. The study implies that the selected construction firms in Oyo state Nigeria predominantly use e-mails and websites to support the execution of pre-award phase of construction procurement. Finding also shows that there is positive relationship between e-Procurement (e-Notifying, e-Exchange, and e-Submission of bid) and Project delivery. The study suggests that to accelerate the rate of uptake of e-Procurement and maximize its benefits in the Nigerian construction industry, there is a need to improve the quality and quantity of ICT infrastructure across the country; and to embark on aggressive enlightenment campaigns, training and skill development programs in the use of e-Procurement in the construction industry in this country.

scholarly journals Wood creep data collection and unbiased parameter identification of compliance functions

Holzforschung ◽  
2020 ◽  
Vol 74 (11) ◽  
pp. 1011-1020
Author(s):  
Danyang Tong ◽  
Susan Alexis Brown ◽  
David Corr ◽  
Gianluca Cusatis
Keyword(s):  
Parameter Identification ◽  
Prediction Models ◽  
Tall Buildings ◽  
Building Design ◽  
Parameter Distribution ◽  
Experimental Conditions ◽  
Global Emission ◽  
Wood Construction ◽  
Parameter Values

AbstractRising global emission have led to a renewed popularity of timber in building design, including timber-concrete tall buildings up to 18 stories. In spite of this surge in wood construction, there remains a gap in understanding of long-term structural behavior, particularly wood creep. Unlike concrete, code prescriptions for wood design are lacking in robust estimates for structural shortening. Models for wood creep have become increasingly necessary due to the potential for unforeseen shortening, especially with respect to differential shortening. These effects can have serious impacts as timber building heights continue to grow. This study lays the groundwork for wood compliance prediction models for use in timber design. A thorough review of wood creep studies was conducted and viable experimental results were compiled into a database. Studies were chosen based on correlation of experimental conditions with a realistic building environment. An unbiased parameter identification method, originally applied to concrete prediction models, was used to fit multiple compliance functions to each data curve. Based on individual curve fittings, statistical analysis was performed to determine the best fit function and average parameter values for the collective database. A power law trend in wood creep, with lognormal parameter distribution, was confirmed by the results.

scholarly journals Methodology for Assessing the Degree of Occupational Safety Specific to Hydrotechnical Construction Activities, in Order to Increase Their Sustainability

2021 ◽  
Vol 13 (3) ◽  
pp. 1105
Author(s):  
Gabriel Dragos Vasilescu ◽  
Codruț Dan Petrilean ◽  
Attila Kovacs ◽  
Gabriel Victor Vasilescu ◽  
Dragos Pasculescu ◽  
...  
Keyword(s):  
Occupational Safety ◽  
Security Risk ◽  
Internal Auditors ◽  
Construction Companies ◽  
Statistical Verification ◽  
Safety And Health ◽  
Human Material ◽  
Kolmogorov Smirnov ◽  
Verification Test ◽  
Risk Predictors

The effectiveness of the audit is conditioned by the systematic nature of the analyses and their periodicity. In this respect, the work of internal auditors must be coherent, continuous, and professional. These conditions can be met only if the activity is organized as a permanent system, which has its objectives and has resources (human, material, and financial), as well as adequate tools (audit method) corresponding to the activities carried out within the hydro-construction companies. The methodology for assessing the occupational safety status specific to companies in the field of hydrotechnical constructions was tested at the economic operators within SC HIDROCONSTRUCȚIA SA Bucharest. Thus, from the observation made based on the two calculation formulas’ application, it can be appreciated that the weighted amount more clearly and objectively reflects the existence of problems in achieving safety and health at work, thus constituting the result of a cautious approach, as opposed to the arithmetic mean formula, which leads to a result that tends to overestimate the value of the assessment. Additionally, the security risk determination in the field of occupational security at the economic operators was performed, according to the procedure of applying the method, based on the Gumbel probability function associated with insecurity, and the accuracy of various estimates on risk predictors was ensured by using the Kolmogorov–Smirnov statistical verification test in order to determine the confidence interval of the forecast results.

scholarly journals The projected impacts of smart decline on urban runoff contamination levels

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
Rui Zhu ◽  
Galen Newman
Keyword(s):  
Land Use ◽  
Green Infrastructure ◽  
Prediction Models ◽  
Stormwater Runoff ◽  
Baseline Scenario ◽  
Vacant Land ◽  
Smart Decline ◽  
Contamination Levels ◽  
Indirect Impacts

AbstractThere has been mounting interest about how the repurposing of vacant land (VL) through green infrastructure (the most common smart decline strategy) can reduce stormwater runoff and improve runoff quality, especially in legacy cities characterized by excessive industrial land uses and VL amounts. This research examines the long-term impacts of smart decline on both stormwater amounts and pollutants loads through integrating land use prediction models with green infrastructure performance models. Using the City of St. Louis, Missouri, USA as the study area, we simulate 2025 land use change using the Conversion of Land Use and its Effects (CLUE-S) and Markov Chain urban land use prediction models and assess these change’s probable impacts on urban contamination levels under different smart decline scenarios using the Long-Term Hydrologic Impact Assessment (L-THIA) performance model. The four different scenarios are: (1) a baseline scenario, (2) a 10% vacant land re-greening (VLRG) scenario, (3) a 20% VLRG scenario, and (4) a 30% VLRG scenario. The results of this study illustrate that smart decline VLRG strategies can have both direct and indirect impacts on urban stormwater runoff and their inherent contamination levels. Direct impacts on urban contamination include the reduction of stormwater runoff and non-point source (NPS) pollutants. In the 30% VLRG scenario, the annual runoff volume decreases by 11%, both physical, chemical, and bacterial pollutants are reduced by an average of 19%, compared to the baseline scenario. Indirect impacts include reduction of the possibility of illegal dumping on VL through mitigation and prevention of future vacancies.

scholarly journals ENVIRONMENTAL MANAGEMENT SYSTEMS AS A DRIVER FOR SUSTAINABILITY: STATE OF IMPLEMENTATION, BENEFITS AND BARRIERS IN GERMAN CONSTRUCTION COMPANIES

2017 ◽  
Vol 23 (1) ◽  
pp. 150-162 ◽  
Author(s):  
Jan-Simon SCHMIDT ◽  
Rainard OSEBOLD
Keyword(s):  
Environmental Management ◽  
Construction Industry ◽  
Construction Materials ◽  
The State ◽  
Management Systems ◽  
Environmental Management Systems ◽  
Large Measure ◽  
Construction Companies ◽  
Ecologically Sustainable ◽  
Corporate Business

The construction industry, as one of almost every economy’s major generators of environmental impact, can contribute in large measure to achieving the goals of sustainability. However, most publications in this field deal with sustainability with reference to selecting construction materials and improvements in the operating phase of buildings. When considering ecological sustainability the focus has to be extended from the finished building to the building pro­cess. Therefore the actors of the construction sector who are responsible for the production process have to be studied: the construction companies. The goal of this paper is to study the state of ecologically sustainable corporate business management in construction. The state of application of elements of environmental management systems (EMS) is used as an indicator of the current situation in German construction companies. EMS can help continuously to environmen­tally improve the operating processes of the firms. A broad survey about the extent of EMS has been conducted consid­ering the barriers and drivers. In general, a relatively low interest in EMS and a lack of knowledge is noticeable within the sector. As a result, strategic recommendations are made on how to promote environmental management to foster sustainable thinking in the German construction industry.

scholarly journals Examining the implementation of ISO 9001 in Indonesian construction companies

2015 ◽  
Vol 27 (1) ◽  
pp. 94-107 ◽  
Author(s):  
Debby Willar ◽  
Vaughan Coffey ◽  
Bambang Trigunarsyah
Keyword(s):  
Quality Management ◽  
Construction Industry ◽  
Current Practice ◽  
Iso 9001 ◽  
Quality Management Systems ◽  
Content Type ◽  
Construction Companies ◽  
Main Motive ◽  
Research Findings ◽  
Management Attitude

Purpose – The purpose of this paper is to examine the implementation of quality management systems (QMSs) of Grade 7 (G-7) Indonesian construction companies. This includes the initial motives that have driven the development of QMSs, barriers to effective QMS implementation, the current practice and integration of QMS-ISO 9001 principles and elements, and the performance of contractors implementing such QMSs. Design/methodology/approach – A survey was conducted involving 403 respondents (Quality Management Representatives, Managers, and Project and Site Engineers) from 77 G-7 as well as ISO 9001 certified Indonesian construction companies. Findings – The main motive for G-7 contractors in establishing and implementing ISO 9001 based QMSs are identified as being to effectively and efficiently control project activities. Respondents apparently do not often experience problems related to QMS implementation. However, issues of management attitude and purpose are identified as barriers that may affect effective QMS implementation. The study highlights the ISO 9001 principles and elements that still require to be more critically applied by G-7 contractors in order to fully implement and improve their current QMS effectiveness. The findings also suggest that, although certified, many G-7 contractors have not yet achieved a satisfactory level of performance to be truly competitive in global markets outside Indonesia. Originality/value – To date, only limited research has been conducted into the application of ISO 9001 in the Indonesian construction industry. The research findings reinforced the value of pursuing more effective QMS implementation. They also support current attempts to introduce ISO 9001 QMSs to a much wider base of Indonesian construction companies, particularly small and medium sized contractors and builders.

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