scholarly journals A PROPOSED THEORETICAL FRAMEWORK ON STRATEGIES FOR KLANG VALLEY MALAYSIAN QUANTITY SURVEYING CONSULTANCY FIRMS TO ACHIEVE PROFITABILITY

2020 ◽  
Vol 5 (21) ◽  
pp. 01-12
Author(s):  
Bee-Ling Chong ◽  
Kai-Chen Goh ◽  
Tien-Choon Toh
Keyword(s):  
Construction Industry ◽  
Firm Growth ◽  
Global Financial Crisis ◽  
Theoretical Framework ◽  
Business Environment ◽  
Construction Firms ◽  
Consulting Firms ◽  
Klang Valley ◽  
Quantity Surveying ◽  
The Global Financial Crisis

There is a lack of research studies showing the specific practices that enable QS consultancy firms to achieve profitability in Malaysia’s construction industry. As firm profitability is expected to have a positive and significant impact on firm growth, this put Malaysia's QS consulting firms at risk and affected firm growth if the problem they face remains unresolved. Despite the current Covid-19 pandemic has led to the global financial crisis, weaker global growth is still a big issue to developing countries including Malaysia. Construction firms such as QS consultancy firms face a lot of challenges due to the globalisation and competitiveness of the construction industry. Quantity surveying (QS) consultancy firms need to adopt suitable strategies to survive and grow in an evolving business environment. Thus, this paper focuses on the theoretical framework of the strategies for QS consultancy firms.

scholarly journals MITIGATING STRATEGIES OF THREATS TO QUANTITY SURVEYING PROFESSION IN THE NIGERIAN CONSTRUCTION INDUSTRY

2020 ◽  
Vol 10 (2) ◽  
pp. 1-13
Author(s):  
Lekan Ojo ◽  
Bolarinwa Ibrahim ◽  
Ayodeji Oke ◽  
Akinsami Akindeinde
Keyword(s):  
Developing Countries ◽  
Factor Analysis ◽  
Standard Deviation ◽  
Construction Industry ◽  
Construction Firms ◽  
Technology Advancement ◽  
Consulting Firms ◽  
Lagos State ◽  
Quantity Surveying ◽  
Practice Knowledge

Quantity surveying (QS) profession had faced numerous challenges in recent decades than when it was first introduced in developing countries. In addition, opportunities via technology advancement to the profession were also perceived as threats. This, therefore, inform the need to investigate the possible mitigating strategies to the threats confronting the profession in the Nigerian construction industry as an attempt to proffer solutions. Therefore, opinions of quantity surveyors in construction firms, consulting firms and government establishments of Lagos State, Nigeria were collected through a survey. The mitigating strategies garnered from extant literature were used to elicit the opinions of the respondents. One hundred and twelve (112) copies of questionnaires were administered, while the retrieved copies were used to analyse with both descriptive and inferential statistics. Mean score and Standard Deviation (SD) were used to rank the opinions of the respondents, and factor analysis was used to group the mitigating strategies into concise form for ease of discussion. The results of the analysis show that the mitigating strategies identified in the study are significant to mitigating the threats in the QS profession. The factor analysis conducted grouped the mitigating strategies into four major groups, namely practice, knowledge, progressive learning and ethics. These groupings were discussed within the context of the study and in relation with previous researches. This study proffers possible solutions to the threats to the QS profession that had been publicised in many studies.

The Greek Economy before and during the Crisis—and Policy Options Going Forward

2017 ◽  
Author(s):  
Costas Meghir ◽  
Christopher A. Pissarides ◽  
Dimitri Vayanos ◽  
Nikolaos Vettas
Keyword(s):  
Social Protection ◽  
Global Financial Crisis ◽  
Business Environment ◽  
Market Regulation ◽  
Policy Options ◽  
Greek Economy ◽  
Good Provision ◽  
The Global Financial Crisis ◽  
System Access

This chapter reviews the performance of the Greek economy before and during the global financial crisis. It also presents policy options for Greece going forward, drawing to a significant extent on the conclusions of subsequent chapters. The chapter first studies Greece's economic performance in the decades before the crisis. It discusses the evolution of gross domestic product (GDP) per capita and productivity, debt, consumption, investment, wages and prices. The chapter then turns to the quality of the institutions pertaining to the business environment (product market regulation, justice system, access to finance, and labor market regulation), and to social protection and public good provision (pensions, welfare system, health care, and education). It also identifies interconnections between institutional quality and macroeconomic outcomes.

scholarly journals Exporters in the Financial Crisis

2014 ◽  
Vol 228 ◽  
pp. R49-R57 ◽  
Author(s):  
Holger Görg ◽  
Marina-Eliza Spaliara
Keyword(s):  
Financial Crisis ◽  
Firm Growth ◽  
Global Financial Crisis ◽  
Export Market ◽  
Growth And Survival ◽  
Financial Variables ◽  
Large Panel ◽  
Recent Financial Crisis ◽  
The Global Financial Crisis ◽  
Participation Decisions

Using a large panel of UK manufacturing firms over the period 2000–9, we consider how firms responded during the most recent financial crisis, estimating models for export market participation decisions and firm growth and survival. The results indicate that financial variables are highly important in predicting export market entry, especially in the midst of the global financial crisis. With respect to firm growth and survival, we find that starters and continuous exporters are more likely to perform well in and out of the crisis than non-exporters.

Crisis in the Global Economy: Financial Markets, Social Struggles, and New Political Scenarios, edited by Andrea Fumagalli and Sandro Mezzadra, Los Angeles: Semiotext(e), 2010; Finanza bruciata, Christian Marazzi, Bellinzona: Casagrande, 2009; Il comunismo del capitale. Finanziarizzazione, biopolitiche del lavoro e crisi globale, Christian Marazzi, Verona: Ombre corte/UniNomade, 2010; Dall’euforia al panico. Pensare la crisi finanziaria e altri saggi, André Orléan, Verona: Ombre corte/UniNomade, 2010

2013 ◽  
Vol 21 (3) ◽  
pp. 229-245
Author(s):  
Damiano Palano
Keyword(s):  
Los Angeles ◽  
Financial Crisis ◽  
Financial Markets ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Theoretical Framework ◽  
Review Article ◽  
Rich Variety ◽  
The Law ◽  
The Global Financial Crisis

AbstractThe article considers the research developed by the UniNomade project concerning the global financial crisis within the theoretical framework of Italian ‘workerism’ and post-workerist theory. On the whole, the UniNomade project offers a rich variety of stimuli to debate. However, in the work of UniNomade, there are some problematic elements, particularly when the authors invoke a series of ‘excesses’ in ‘cognitive capitalism’. This review-article argues that the old post-workerist thesis of an obsolescence of the law of value introduces into UniNomade’s work an ambiguous determinism.

scholarly journals The performance of private companies in China before and during the global financial crisis: firms’ characteristics and entrepreneurs’ attributes

2021 ◽  
Author(s):  
Andrea Fracasso ◽  
Kun Jiang
Keyword(s):  
Financial Crisis ◽  
Growth Rates ◽  
Firm Growth ◽  
Global Financial Crisis ◽  
Subjective Perception ◽  
Private Firms ◽  
Start Up ◽  
Articulated Systems ◽  
The Global Financial Crisis ◽  
High Level

AbstractThis work sheds light on how firm- and entrepreneur-specific attributes covariate with Chinese private firms’ growth rates before and during the global financial crisis. In order to do so, we exploit the exceptional presence of data regarding the firms’ sales over the previous three years in the 2010 China Private Enterprises Survey. Firms run by entrepreneurs with a high level of education and a positive subjective perception of their economic and social status tend to grow more in both periods. The age and the gender of the entrepreneurs, on the contrary, are not associated with different growth performances. As shown in the literature, companies that are smaller, more productive and have higher capital at start-up perform better in both periods. Notably, the relationship between firm growth rates and other relevant factors changes between 2007/2008 and 2008/2009: privatized companies outperform the others before the crisis, whereas joint-stock enterprises and companies with articulated systems of corporate governance do better in the crisis period. These and other novel results contribute to the understanding of the heterogeneous performances of the private firms in China and of the evolution of entrepreneurship during its transition toward a market-oriented economy.

R&D DYNAMICS AND FIRM GROWTH: THE IMPORTANCE OF R&D PERSISTENCY IN THE ECONOMIC CRISIS

2019 ◽  
Vol 23 (05) ◽  
pp. 1950049
Author(s):  
HAYOUNG PARK ◽  
TAEWON KANG ◽  
JEONG-DONG LEE
Keyword(s):  
Economic Crisis ◽  
Firm Growth ◽  
Global Financial Crisis ◽  
Firm Level ◽  
Level Data ◽  
The Global Financial Crisis ◽  
The Impact ◽  
D Investment ◽  
High Uncertainty

There has been a lot of interest in R&D dynamics, including the persistency and volatility of R&D investment. However, there is a lack of empirical evidence supporting the impact of R&D dynamics on firm growth in the context of an economic crisis. This study examines the effects of R&D dynamics on firm growth during and after the global financial crisis of 2008–2009. Based on firm-level data, we construct a balanced panel for 1,137 firms in the global petrochemical industry. Our findings indicate that firms with R&D persistency show higher growth during and after the crisis, regardless of firm size. R&D persistency has a higher impact on firm growth in large firms than in smaller ones. In addition, R&D persistency has greater influence than the level of R&D investment. Firms should pursue non-cyclical and consistent R&D strategies with a long-term perspective, especially in high uncertainty conditions.

scholarly journals HOW AUSTRALIAN CONSTRUCTION CONTRACTORS RESPONDED TO THE ECONOMIC DOWNTURN

2015 ◽  
Vol 19 (3) ◽  
pp. 245-259 ◽  
Author(s):  
Jian ZUO ◽  
George ZILLANTE ◽  
Bo XIA ◽  
Albert CHAN ◽  
Zhenyu ZHAO
Keyword(s):  
Construction Industry ◽  
Global Financial Crisis ◽  
Economic Downturn ◽  
Competitive Advantages ◽  
Senior Managers ◽  
Construction Companies ◽  
Common Strategy ◽  
Research Findings ◽  
The Global Financial Crisis ◽  
Great Focus

The Global Financial Crisis (GFC) in 2008 had a significant impact on the world economy and the construction industry was no exception. This study investigates the major impacts of the 2008 GFC on the Australian construction industry and, in particular how the Australian construction contractors responded to the economic downturn. A total of 35 senior managers from the Top 100 Australian construction companies were interviewed. The findings indicate that construction companies, particularly the large ones were not affected in any significant way but are expecting some difficult financial times over the next few years and are taking actions to minimize the upcoming adverse impacts. The most common strategy adopted by Australian construction contractors is to concentrate on core business while avoiding aimless bidding. Similarly, great focus is placed on retaining human resources in order to maintain the skill set so that the company can respond quickly when market conditions improves. The research findings will provide construction contractors with insights on how to establish and sustain competitive advantages during economic slowdown and become more resilient in the future.

scholarly journals The Need for Professionalism and Competencies in the Construction Industry

2017 ◽  
Vol 4 (1) ◽  
Author(s):  
Adebiyi John Oladotun ◽  
Osazuwa Mark Edosa
Keyword(s):  
Construction Industry ◽  
Economic Problems ◽  
Professional Obligations ◽  
Consulting Firms ◽  
Lagos State ◽  
Study Population ◽  
Quantity Surveying ◽  
Bill Of Quantity ◽  
Cost Components

The quantity surveyors, in the present day construction industry, analyze cost components of a construction project in a scientific way and applies the results of the analysis to a variety of financial and economic problems confronting the developer and the designer. However, competence, in any sphere of work, can be a difficult concept to pin down, especially, when it relates to professional occupations where such roles are complex and involved diverse professionals in the built environment sector. This paper aims to investigate the competencies of quantity surveyors in the discharge of its professional duties by evaluating the effects of professional competency on quantity surveying practices in Nigeria. The study population comprised professional quantity surveyors who are in the private construction/consulting firms in Lagos State, Nigeria. Data were obtained to investigate the professional views on the quantity surveying profession, the roles of quantity surveyors in the construction industry and the need for professionalism and competencies in the surveying industry. Questionnaires were administered to randomly select 200 practicing quantity surveyors in Lagos state. Findings revealed that the major role of quantity surveyors in the construction industry is the preparation of the bill of quantity as it ranked 1st with RII value of 1.00; it was also discovered that quantity surveyors were in agreement with client service delivery as the first ethical standard that construction professionals should consider when performing their professional obligations in order to avoid project failure and over-cost. It is therefore recommended that the professional bodies and the academia should organize proper and adequate service trainings, workshops and seminars which will enhance the possibility of acquiring more skills and experience so as to improve competence in the discharge of quantity surveyors professional duties. 

Adoption of building information modeling in Chinese construction industry

2019 ◽  
Vol 26 (9) ◽  
pp. 1878-1898 ◽  
Author(s):  
Yilin Chen ◽  
Yilin Yin ◽  
Glenn J. Browne ◽  
Dahui Li
Keyword(s):  
Construction Industry ◽  
Statistical Approach ◽  
Building Information Modeling ◽  
Information Modeling ◽  
Content Type ◽  
Construction Firms ◽  
Engineering Consulting ◽  
Consulting Firms ◽  
Building Information ◽  
Toe Framework

Purpose Building information modeling (BIM) is recognized as a major innovation in the architecture, engineering, and construction (AEC) industry. Understanding the factors that influence the AEC’s adoption of BIM will benefit the research and practice of BIM. The paper aims to discuss these issues. Design/methodology/approach This study provides empirical evidence for the accumulated knowledge of BIM adoption by examining the context of Chinese construction industry. Based on the technology-organization-environment (TOE) framework in the innovation diffusion literature, the authors develop a research model that integrates the critical success factors related to the technology of BIM, the construction company and the environment in Chinese construction industry. The authors collected two different data sets from engineering consulting firms and construction firms in China, and conducted rigorous analyses using a sophisticated statistical approach. Findings The authors found that the relative advantage of BIM was a major factor that enabled BIM adoption, while the complexity of BIM was an inhibiter. In addition, management support was also a significant antecedent of BIM adoption. However, organizational readiness was significant for engineering consulting firms but not for construction firms. Surprisingly, the authors did not find consistent significant impacts of any environmental factors. Last, younger firms were more likely to adopt BIM. Originality/value One of the first to apply the TOE framework to integrate three groups of factors that may explain BIM adoption in China. Such a comprehensive framework provides a much broader perspective of BIM adoption to evaluate the impacts of different antecedent factors. The authors conducted an empirical study based on survey data collected from two different types of companies, i.e., engineering consulting firms and construction firms, representing the two parties in the principal-agent relationship of a construction project. One of the first to apply a sophisticated statistical approach, i.e., partial least squares, to analyze the data in the BIM literature.

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