scholarly journals An Analysis of the Financial Liquidity Management Strategy in Construction Companies Operating in the Podkarpackie Province

Risks ◽  
2021 ◽  
Vol 10 (1) ◽  
pp. 5
Author(s):  
Grzegorz Zimon ◽  
Joanna Nakonieczny ◽  
Katarzyna Chudy-Laskowska ◽  
Magdalena Wójcik-Jurkiewicz ◽  
Konrad Kochański
Keyword(s):  
Financial Management ◽  
Management Strategy ◽  
Management Strategies ◽  
National Court ◽  
Liquidity Management ◽  
Conservative Strategy ◽  
Construction Company ◽  
Construction Companies ◽  
Financial Liquidity ◽  
The Impact

The activity of each construction company in conditions of high competitiveness is exposed to a number of risks that make it difficult to maintain high financial liquidity. In order to provide the continuity of ongoing economic processes and to be able to develop, entities are forced to build optimal financial management strategies for them. Enterprises can choose between a conservative, moderate and aggressive strategy, which is largely determined by the way they manage their current assets and short-term liabilities. In the case of construction companies, it is also not without significance that they are particularly sensitive to fluctuations in the economic situation and changes in the macroeconomic environment, which imply the availability of funds. The purpose of this paper is to analyze the financial liquidity management strategy of construction sector Polish enterprises from the Podkarpackie Province in 2017–2019 and the impact of this strategy on the profitability of the surveyed entities. In order to achieve the goal, the issues related to the classification of financial liquidity and individual liquidity management strategies are discussed. The issues and the goal set determined the choice of research methods. Literature studies, the Mann–Whitney U test, cluster analysis and Ward’s method were used. The research was carried out on a group of the 10 largest construction companies from the Podkarpackie Province. The selection of entities for the research was deliberately based on enterprises that submit their financial statements to the National Court Register. The conducted research showed that small and large enterprises applied different liquidity management policies even though they operate in the same industry and region. The small entities preferred a conservative strategy, while large entities preferred a moderate strategy. The existence of an inverse relationship between the phenomenon of financial liquidity and profitability of economic entities was also confirmed.

Balanced Scorecard in the strategic planning of a construction company

2018 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Roberth Frias ◽  
Maria Medina
Keyword(s):  
Strategic Planning ◽  
Strategic Management ◽  
Balanced Scorecard ◽  
Organization Theory ◽  
Management Control ◽  
Management Tool ◽  
The Balanced Scorecard ◽  
Construction Company ◽  
Construction Companies ◽  
The Impact

This research focused on the strategic management tool Balanced Scorecard and strategic planning, as a guide to guide the management of companies, allowing communication and the functionality of the strategy using KPIs that allow to identify, maintain control and increase efficiency and the achievement of optimal results. For the deductive hypothetical analysis, the specific factors that affect business management performance were grouped into two variables: Balanced Scorecard and Strategic Planning. The objective of the work was to demonstrate the impact of the Balanced Scorecard in the strategic planning of a construction company. In order to support the research, the following theories were approached: the Financial Theory, the Economic Theory of the Company, the Transaction Costs, the Network Theory, the Organization Theory, the Dependence on Resources, the Strategic Management Theory and the Business Diagnosis Theory. The result obtained confirms the hypothesis that there is a significant incidence of the Balanced Scorecard in the strategic planning of construction companies. In conclusion, the construction company has obtained significant improvements in the results in each of the indicators evaluated with the implementation of the Balanced Scorecard, demonstrating improvements in their management results, affirming that there is better performance and management control allowing them to achieve the organizational objectives set.

scholarly journals Cytochrome P450 metabolic resistance (CYP6P9a) to pyrethroids imposes a fitness cost in the major African malaria vector Anopheles funestus

Heredity ◽  
2020 ◽  
Vol 124 (5) ◽  
pp. 621-632 ◽  
Author(s):  
Magellan Tchouakui ◽  
Jacob Riveron Miranda ◽  
Leon M. J. Mugenzi ◽  
Doumani Djonabaye ◽  
Murielle J. Wondji ◽  
...  
Keyword(s):  
Malaria Vector ◽  
Management Strategy ◽  
Management Strategies ◽  
Resistance Management ◽  
Anopheles Funestus ◽  
Fitness Cost ◽  
Malaria Vectors ◽  
Hybrid Strain ◽  
Metabolic Resistance ◽  
The Impact

Abstract Metabolic resistance threatens the sustainability of pyrethroid-based malaria control interventions. Elucidating the fitness cost and potential reversal of metabolic resistance is crucial to design suitable resistance management strategies. Here, we deciphered the fitness cost associated with the CYP6P9a (P450-mediated metabolic resistance) in the major African malaria vector Anopheles funestus. Reciprocal crosses were performed between a pyrethroid susceptible (FANG) and resistant (FUMOZ-R) laboratory strains and the hybrid strains showed intermediate resistance. Genotyping the CYP6P9a-R resistance allele in oviposited females revealed that CYP6P9a negatively impacts the fecundity as homozygote susceptible mosquitoes (CYP6P9a-SS) lay more eggs than heterozygote (OR = 2.04: P = 0.01) and homozygote resistant mosquitoes. CYP6P9a also imposes a significant fitness cost on the larval development as homozygote resistant larvae (CYP6P9a-RR) developed significantly slower than heterozygote and homozygote susceptible mosquitoes (χ2 = 11.2; P = 0.0008). This fitness cost was further supported by the late pupation of homozygote resistant than susceptible mosquitoes (OR = 2.50; P < 0.01). However, CYP6P9a does not impact the longevity as no difference was observed in the life span of mosquitoes with different genotypes (χ2 = 1.6; P = 0.9). In this hybrid strain, a significant decrease of the resistant CYP6P9a-RR genotype was observed after ten generations (χ2 = 6.6; P = 0.01) suggesting a reversal of P450-based resistance in the absence of selection. This study shows that the P450-mediated metabolic resistance imposes a high fitness cost in malaria vectors supporting that a resistance management strategy based on rotation could help mitigate the impact of such resistance.

Using accounting ratios to measure construction industry lag

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
John Killingsworth ◽  
Mohammed Hashem Mehany ◽  
Jeff Kim
Keyword(s):  
Construction Industry ◽  
Financial Management ◽  
Economic Behavior ◽  
Financial Behavior ◽  
Financial Ratios ◽  
Equity Structure ◽  
Economic Changes ◽  
Content Type ◽  
Construction Companies ◽  
The Impact

Purpose The apparent lag between macro-economic behavior and financial implications in the construction industry is yet to be examined. The purpose of this paper is to understand the nature of the lag and the relationship between economic changes from year-to-year and the impact on the financial status of construction companies. Design/methodology/approach Correlation was made between US economic growth and construction industry financial indicators over a 28-year period. Cumulative per cent growth in US GDP was considered an independent variable, while nine financial ratios were calculated and considered dependent variables in this study. Findings The results of this study found that correlation improved when considering lag of two, three or sometimes four years after the economic event. Some financial ratios proved more sensitive than others, supporting the hypothesis of this study. Research limitations/implications The practical application of this study for construction companies is to understand how the construction industry lag impacts financial behavior. It therefore informs managerial decisions related to solvency, liquidity, equity structure and managerial practices; all of which are measured by financial ratios. Practical implications This study was intended to advance the research in this area and also to serve to strengthen industry members in their financial management of construction companies. Economic dynamics have long-lasting implications, which can be addressed through an increased focus on managing financial health. Originality/value Though the lag is intuitively known and has been studied from market perspectives, there is a lack of empirical study evaluating the impact of lag on financial key performance indicators.

Effect of the global financial crisis on the financial performance of public listed construction companies in Malaysia

2014 ◽  
Vol 19 (3) ◽  
pp. 246-263 ◽  
Author(s):  
Hui Ying Lai ◽  
Abdul Rashid Abdul Aziz ◽  
Toong Khuan Chan
Keyword(s):  
Financial Crisis ◽  
Financial Performance ◽  
Financial Management ◽  
Capital Investment ◽  
Global Financial Crisis ◽  
Financial Analysis ◽  
Content Type ◽  
Construction Companies ◽  
The Government ◽  
The Impact

Purpose – The aim of this case study is to characterize the impact of the 2008 global financial crisis on the financial performance of public listed construction companies. Design/methodology/approach – Financial analysis was conducted on 32 public listed construction companies in Malaysia. Twelve financial ratios were examined to determine the profitability, liquidity, activity, leverage and solvency of these companies over the period between 2005 and 2010. This was complemented by a distress analysis using Altman’s Z-index. The study also used a content analysis of the Chairman’s or Managing Director’s statement to shareholders to uncover the responses and strategic initiatives undertaken by the management in response to the financial crisis. Findings – The only direct impact of the financial crisis was a reduction in profitability. Total revenues and total assets of these companies continue to grow due to increased demand for construction from year 2007 following two large capital investment programs initiated by the Malaysian Government to mitigate the potential effects of the financial crisis. Net profits rebounded back to 5 per cent by year 2010. These companies immediately responded to the crisis with more prudent financial management; curtailing expenses, cutting dividends, reducing bank borrowings, increasing equity; and to the extent of disposing of assets to mitigate losses. Research limitations/implications – The sample of only 32 public listed companies out of a total of more than 60,000 construction companies may be considered small, but these 32 companies represent nearly 20 per cent of the total construction volume for 2010. Practical implications – The study documents the effects of increased capital spending by the government to mitigate the loss of investor confidence followed by a slowdown in economic growth during a period of global financial distress. Key findings will inform on prudent financial management to withstand future financial crises. Originality/value – The responses and strategies adopted by the management to mitigate the effects and to enhance future performance of these companies have been uncovered. These are important considerations in managing construction companies; the analysis and observations will be invaluable to researchers intending to study how the construction industry responds to a future slump in demand.

scholarly journals THE EFFECT OF MANAGEMENT DECISION PROCESSES ON THE MANAGEMENT OF BRIDGES

2015 ◽  
Vol 22 (1) ◽  
pp. 94-104 ◽  
Author(s):  
Amin JAMALI ◽  
Bryan T. ADEY
Keyword(s):  
Management Strategy ◽  
Management Strategies ◽  
Level Of Service ◽  
Management Decision ◽  
Optimal Management ◽  
Management Processes ◽  
The Hours ◽  
Negative Impacts ◽  
The Impact

It is necessary to execute interventions on bridges to ensure that they continue to provide an adequate level of service. It is necessary to inspect them to ensure that these interventions are timed appropriately. As there are negative impacts associated with both inspections and interventions, e.g. the impact on the owner due to the hours of labor and amounts of materials required to perform an inspection and execute an intervention, it is desirable to determine inspection and intervention strategies that minimize these negative impacts (i.e. the optimal management strategy). An important, however often overlooked, factor in determining optimal management strategies, is how management processes affect the determination of the optimal management strategy. In this article it is shown that it is not always possible to determine an optimal management strategy without explicitly taking into consideration management processes, how variations in management processes can be evaluated and that the significance of these variations is dependent on the values of the incurred impacts.

scholarly journals MANAJEMEN DAN PENGELOLAAN KEUANGAN RUMAH TANGGA DI DESA SAJAU TANJUNG SELOR

2019 ◽  
Author(s):  
Machmud Al Amrie ◽  
Adi Aspian Nur ◽  
Dedik Wiryawan
Keyword(s):  
Financial Management ◽  
Management Strategies ◽  
Debt Management ◽  
Fuel Prices ◽  
Household Finances ◽  
Food Quantity ◽  
Effectiveness And Efficiency ◽  
The Impact ◽  
Depth Interviews

There are many strategies that can be taken in order to get around the limitations of household finances due to rising fuel prices, among other spending reductions in strategic posts, such as education, health, including reduction of food quantity and quality of family and debt management. So that they need household financial management that is more efficient in every expenditure, because small problems can become big if not addressed and resolved by wise especially if persolan involving money. The purpose of this study is to describe the impact of rising fuel prices on household finances and how financial management strategies of households after rising the fuel price.The Research was conducted on several families in the Wayhalim Bandar Lampung. The type of research used in this research is qualitative research data collection techniques used include: (1) in-depth interviews and (2) observation. While the data analysis techniques used are data reduction, data presentation and draw conclusions. The analysis showed that they had not properly manage family assets that they have and do not yet have an investment plan. This is indicated by the lack of financial planning for the future and have not applied the financial records (cash flow) that is income less the expenses each month, thus requiring better financial management,namely in terms of both effectiveness and efficiency.

scholarly journals ARDS Patients Exhibiting a “Hyperinflammatory Anasarca” Phenotype Could Benefit From a Conservative Fluid Management Strategy

2021 ◽  
Vol 8 ◽  
Author(s):  
Chun-yan Xing ◽  
Wen-bin Gong ◽  
Yan-Na Yang ◽  
Xin-jie Qi ◽  
Shi Zhang
Keyword(s):  
Management Strategy ◽  
Clustering Algorithm ◽  
Fluid Management ◽  
Management Strategies ◽  
Secondary Analysis ◽  
Clinical Feature ◽  
Continuous Variables ◽  
Chi Square ◽  
Conservative Strategy ◽  
Cumulative Mortality

Object: The fluid management strategy in ARDS is not very clear. A secondary analysis of RCT data was conducted to identify patients with ARDS benefitting from a conservative strategy of fluid management.Methods: The data of this study were downloaded from the ARDS network series of randomized controlled trials (Conservative Strategy vs. Liberal Strategy in 2006). Based on the clinical feature of patients, within the first 24 h after admission, clustering was performed using the k-means clustering algorithm to identify the phenotypes of ARDS. Survival was analyzed using the Kaplan-Meier survival analysis to assess the effect of the two fluid management strategies on the 90-day cumulative mortality. Categorical/dichotomic variables were analyzed by the chi-square test. Continuous variables were expressed as the mean and standard deviation and evaluated through a one-way ANOVA. A P-value &lt; 0.05 was defined as the statistically significant cut-off value.Results: A total of 1,000 ARDS patients were enrolled in this unsupervised clustering research study, of which 503 patients were treated with a conservative fluid-management strategy, and 497 patients were treated with a liberal fluid-management strategy. The first 7-day cumulative fluid balance in patients with the conservative strategy and liberal strategy were −136 ± 491 ml and 6,992 ± 502 ml, respectively (P &lt; 0.001). Four phenotypes were found, and the conservative fluid-management strategy significantly improved the 90-day cumulative mortality compared with the liberal fluid-management strategy (HR = 0.532, P = 0.024) in patients classified as “hyperinflammatory anasarca” phenotype (phenotype II). The characteristics of this phenotype exhibited a higher WBC count (20487.51 ± 7223.86/mm3) with a higher incidence of anasarca (8.3%) and incidence of shock (26.6%) at baseline. The furthermore analysis found that the conservative fluid management strategy was superior to the liberal fluid management strategy in avoiding superinfection (10.10 vs. 14.40%, P = 0.037) and returned to assisted breathing (4.60 vs. 16.20%, P = 0.030) in patients classified as “hyperinflammatory anasarca” phenotype. In addition, patients with other phenotypes given the different fluid management strategies did not show significant differences in clinical outcomes.Conclusion: Patients exhibiting a “hyperinflammatory anasarca” phenotype could benefit from a conservative fluid management strategy.

Impact of knowledge enabling factors on organizational effectiveness in construction companies

2018 ◽  
Vol 22 (4) ◽  
pp. 759-780 ◽  
Author(s):  
Chau Ngoc Dang ◽  
Long Le-Hoai ◽  
Soo-Yong Kim
Keyword(s):  
Organizational Effectiveness ◽  
Management Strategies ◽  
Enabling Factors ◽  
Content Type ◽  
Mean Values ◽  
Construction Companies ◽  
Score Method ◽  
The Mean ◽  
The Impact ◽  
Practical Implications

Purpose This study aims to identify key knowledge enabling factors (KEFs) which can enable construction companies to improve various organizational effectiveness outcomes (OEOs). Design/methodology/approach Using a questionnaire, data are collected from construction companies in Vietnam. Mean score method is used to calculate the mean values of KEFs. In addition, regression analysis is used to identify KEFs which significantly affect OEOs. Findings A list of 32 KEFs, whose ranking orders of importance are provided according to different types of construction companies, is presented. In addition, different lists of specific KEFs which could significantly affect different OEOs are identified. Furthermore, seven key KEFs which could have a significant impact on many OEOs are highlighted. Practical implications The findings of this study could help construction companies to know the controllable KEFs, on which they should focus more. Hence, they could perform these KEFs properly to improve various aspects of organizational effectiveness. Originality/value This study identifies 32 KEFs and 10 OEOs specifically for knowledge management in construction companies. This study also provides construction companies with a better understanding of the impact of KEFs on various aspects of organizational effectiveness. Hence, they could develop effective KEFs-based management strategies to enhance various aspects of organizational effectiveness.

An efficient method for energy management optimization control: Minimizing fuel consumption for hybrid vehicle applications

2019 ◽  
Vol 42 (1) ◽  
pp. 69-80 ◽  
Author(s):  
Mohamed Elhedi Hmidi ◽  
Ines Ben Salem ◽  
Lilia El Amraoui
Keyword(s):  
Fuel Consumption ◽  
Energy Management ◽  
Management Strategy ◽  
Hybrid Electric Vehicle ◽  
Management Strategies ◽  
Hybrid Vehicle ◽  
Optimal Operation ◽  
Pollutant Emissions ◽  
Energy Management Strategy ◽  
The Impact

One of the main research areas of the automotive sector is energy consumption and the reduction of pollutant emissions. Therefore, the hybrid electrical vehicle Vehicle electrical hybrid (VEH) is a possible approach to improve the vehicle components or its architecture to maximize system efficiency. This vehicle benefits from levels of consumption and emission of pollutants lower than the thermal vehicle. The problem is then to find the right split power between the two hybrid sources, the internal combustion engine (ICE) and the electrical machines (EM) to minimize fuel consumption. These energy management strategies are the algorithms that achieve instant split power between the two sources in the hybrid electric vehicle (HEV) while controlling the battery state of charge (SOC), in order to improve the fuel economy and optimize the performance HEV. In this research, a parametric study on the impact of optimization of the energy management strategy on the optimal operation of the vehicle is presented. A hybrid vehicle model is described and rules-based energy management strategy is presented. Later these rules are optimized with an optimization algorithm based on Grey Wolf optimizer (GWO). It is a new meta-heuristic based on the population. The results of the simulation make it possible to deduce the impact of this optimal strategy of energy management on fuel consumption and CO2 emissions. The obtained results show that the optimal operation of the vehicle varies according to the best energy management strategies.

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