Subjects -> ESTATE, HOUSING AND URBAN PLANNING (Total: 304 journals)
    - CLEANING AND DYEING (1 journals)
    - ESTATE, HOUSING AND URBAN PLANNING (237 journals)
    - FIRE PREVENTION (13 journals)
    - HEATING, PLUMBING AND REFRIGERATION (6 journals)
    - HOME ECONOMICS (9 journals)
    - INTERIOR DESIGN AND DECORATION (21 journals)
    - REAL ESTATE (17 journals)

ESTATE, HOUSING AND URBAN PLANNING (237 journals)                  1 2     

Showing 1 - 97 of 97 Journals sorted alphabetically
A&P Continuidad     Open Access  
Ager. Revista de Estudios sobre Despoblacion y Desarrollo Rural     Open Access   (Followers: 1)
Alternativa. Revista de Estudios Rurales     Open Access   (Followers: 1)
Ambiances     Open Access   (Followers: 5)
Ángulo Recto. Revista de estudios sobre la ciudad como espacio plural     Open Access   (Followers: 2)
Applied Ecology and Environmental Sciences     Open Access   (Followers: 29)
Apuntes : Revista de Estudios sobre Patrimonio Cultural - Journal of Cultural Heritage Studies     Open Access   (Followers: 4)
Arboricultural Journal : The International Journal of Urban Forestry     Hybrid Journal   (Followers: 6)
Architecture and Urban Planning     Open Access   (Followers: 17)
Archivio di Studi Urbani e Regionali     Full-text available via subscription   (Followers: 1)
Arquitectura y Urbanismo     Open Access   (Followers: 2)
Articulo - Journal of Urban Research     Open Access   (Followers: 5)
Asia-Pacific Journal of Rural Development     Hybrid Journal   (Followers: 2)
Baltic Journal of Real Estate Economics and Construction Management     Open Access   (Followers: 5)
Baru : Revista Brasileira de Assuntos Regionais e Urbanos     Open Access  
Belgeo     Open Access   (Followers: 2)
Bhumi : The Planning Research Journal     Open Access   (Followers: 4)
Biblio3W : Revista Bibliográfica de Geografía y Ciencias Sociales     Open Access  
Borderlands Journal : Culture, Politics, Law and Earth     Open Access   (Followers: 1)
Brussels Studies     Open Access   (Followers: 2)
BUILT : International Journal of Building, Urban, Interior and Landscape Technology     Open Access   (Followers: 2)
Bulletin KNOB     Open Access   (Followers: 3)
Cadernos Metrópole     Open Access   (Followers: 1)
Canadian Planning and Policy / Aménagement et politique au Canada     Open Access   (Followers: 1)
Change Over Time     Full-text available via subscription   (Followers: 3)
Cidades, Comunidades e Territórios     Open Access  
Cities & Health     Hybrid Journal   (Followers: 5)
Cities and the Environment (CATE)     Open Access   (Followers: 18)
Cities People Places : An International Journal on Urban Environments     Open Access   (Followers: 4)
City & Community     Hybrid Journal   (Followers: 41)
City and Environment Interactions     Open Access   (Followers: 2)
City, Territory and Architecture     Open Access   (Followers: 15)
Cityscape     Full-text available via subscription   (Followers: 10)
Ciudades     Open Access  
Civil and Environmental Research     Open Access   (Followers: 14)
Computational Urban Science     Open Access  
Continuité     Full-text available via subscription  
Cordis : Revista Eletrônica de História Social da Cidade     Open Access  
Creative Space     Open Access   (Followers: 1)
Critical Planning     Open Access   (Followers: 9)
Cuadernos de Desarrollo Rural     Open Access  
Cuadernos de Investigación Urbanística     Open Access  
Current Urban Studies     Open Access   (Followers: 14)
Den Gamle By : Danmarks Købstadmuseum (Årbog)     Open Access   (Followers: 1)
Disasters     Hybrid Journal   (Followers: 19)
disP - The Planning Review     Hybrid Journal   (Followers: 1)
EchoGéo     Open Access  
Eikonocity. Storia e Iconografia delle Città e dei Siti Europei - History and Iconography of European Cities and Sites     Open Access  
Environment, Space, Place     Full-text available via subscription   (Followers: 9)
Environnement Urbain / Urban Environment     Open Access   (Followers: 10)
Estudios del Hábitat     Open Access   (Followers: 1)
Estudios Demográficos y Urbanos     Open Access   (Followers: 5)
Études rurales     Open Access   (Followers: 2)
European Planning Studies     Hybrid Journal   (Followers: 21)
European Spatial Research and Policy     Open Access   (Followers: 9)
European Urban and Regional Studies     Hybrid Journal   (Followers: 26)
Forum Journal     Full-text available via subscription   (Followers: 1)
Frontiers in Sustainable Cities     Open Access   (Followers: 2)
Future Cities and Environment     Open Access   (Followers: 5)
Geoplanning : Journal of Geomatics and Planning     Open Access   (Followers: 4)
Glocality     Open Access   (Followers: 1)
História, Natureza e Espaço - Revista Eletrônica do Grupo de Pesquisa NIESBF     Open Access  
Housing Policy Debate     Hybrid Journal   (Followers: 19)
Housing Studies     Hybrid Journal   (Followers: 29)
Housing, Care and Support     Hybrid Journal   (Followers: 10)
Housing, Theory and Society     Hybrid Journal   (Followers: 16)
IET Smart Cities     Open Access  
Il Capitale Culturale. Studies on the Value of Cultural Heritage     Open Access   (Followers: 3)
In Situ. Revue des patrimoines     Open Access  
Insights into Regional Development     Open Access   (Followers: 2)
interFACES     Open Access  
Interiors : Design, Architecture and Culture     Hybrid Journal   (Followers: 21)
International Journal of Community Development     Open Access   (Followers: 13)
International Journal of Community Well-Being     Hybrid Journal  
International Journal of Conflict and Violence     Open Access   (Followers: 25)
International Journal of E-Planning Research     Full-text available via subscription  
International Journal of Housing and Human Settlement Planning     Full-text available via subscription   (Followers: 2)
International Journal of Housing Markets and Analysis     Hybrid Journal   (Followers: 9)
International Journal of Housing Policy     Hybrid Journal   (Followers: 16)
International Journal of Human Capital in Urban Management     Open Access   (Followers: 3)
International Journal of Rural Law and Policy     Open Access   (Followers: 2)
International Journal of Strategic Property Management     Open Access   (Followers: 3)
International Journal of Sustainable Building Technology and Urban Development     Hybrid Journal   (Followers: 11)
International Journal of the Built Environment and Asset Management     Hybrid Journal   (Followers: 5)
International Journal of Town Planning and Management     Full-text available via subscription   (Followers: 3)
International Journal of Urban and Regional Research     Hybrid Journal   (Followers: 44)
International Journal of Urban Sciences     Hybrid Journal   (Followers: 8)
International Journal of Urban Sustainable Development     Hybrid Journal   (Followers: 13)
International Planning History Society Proceedings     Open Access  
Joelho : Journal of Architectural Culture     Open Access   (Followers: 1)
Journal of Accessibility and Design for All     Open Access   (Followers: 12)
Journal of Agriculture and Rural Development in the Tropics and Subtropics     Open Access   (Followers: 4)
Journal of Architectural / Planning Research and Studies     Open Access   (Followers: 1)
Journal of Architecture and Urbanism     Open Access   (Followers: 21)
Journal of architecture&ENVIRONMENT     Open Access   (Followers: 8)
Journal of Architecture, Design and Construction     Open Access   (Followers: 1)
Journal of Architecture, Planning and Construction Management     Open Access   (Followers: 11)
Journal of Biourbanism     Open Access   (Followers: 2)
Journal of Borderlands Studies     Hybrid Journal   (Followers: 8)
Journal of Building Construction and Planning Research     Open Access   (Followers: 10)
Journal of Cultural Heritage Management and Sustainable Development     Hybrid Journal   (Followers: 8)
Journal of Degraded and Mining Lands Management     Open Access   (Followers: 1)
Journal of Delta Urbanism     Open Access   (Followers: 1)
Journal of Environmental Design     Open Access   (Followers: 1)
Journal of Environmental Engineering and Landscape Management     Open Access   (Followers: 8)
Journal of European Landscapes     Open Access  
Journal of European Real Estate Research     Hybrid Journal   (Followers: 4)
Journal of Financial Management of Property and Construction     Hybrid Journal   (Followers: 7)
Journal of Housing Research     Hybrid Journal   (Followers: 11)
Journal of Land and Rural Studies     Hybrid Journal   (Followers: 10)
Journal of Land Use Science     Hybrid Journal   (Followers: 3)
Journal of Public Space     Open Access   (Followers: 2)
Journal of Race, Ethnicity and the City     Hybrid Journal  
Journal of Rural and Community Development     Open Access   (Followers: 1)
Journal of Rural Studies     Hybrid Journal   (Followers: 17)
Journal of Sustainable Development     Open Access   (Followers: 24)
Journal of Transport and Land Use     Open Access   (Followers: 26)
Journal of Urban Affairs     Hybrid Journal   (Followers: 25)
Journal of Urban and Environmental Engineering     Open Access   (Followers: 5)
Journal of Urban Cultural Studies     Hybrid Journal   (Followers: 13)
Journal of Urban Design     Hybrid Journal   (Followers: 23)
Journal of Urban Ecology     Open Access   (Followers: 5)
Journal of Urban Health     Hybrid Journal   (Followers: 12)
Journal of Urban Management     Open Access   (Followers: 1)
Journal of Urban Mobility     Open Access   (Followers: 1)
Journal of Urban Technology and Sustainability     Open Access  
Journal of Urbanism: International Research on Placemaking and Urban Sustainability     Hybrid Journal   (Followers: 23)
Jurnal Arsitektur Lansekap     Open Access  
Jurnal Pengembangan Kota     Open Access  
Jurnal Planologi     Open Access  
Kart og plan     Open Access  
Land     Open Access   (Followers: 3)
Land Economics     Full-text available via subscription   (Followers: 13)
Landscape History     Hybrid Journal   (Followers: 15)
Landscape Journal : design, planning, and management of the land     Full-text available via subscription   (Followers: 12)
Landscape Online     Open Access   (Followers: 1)
Les Cahiers de la recherche architecturale urbaine et paysagère     Open Access  
Management Theory and Studies for Rural Business and Infrastructure Development     Open Access   (Followers: 3)
Métropoles     Open Access  
Mokslas – Lietuvos ateitis / Science – Future of Lithuania     Open Access  
npj Urban Sustainability     Open Access  
On the w@terfront. Public Art. Urban Design. Civic Participation. Urban Regeneration     Open Access   (Followers: 1)
Online Journal of Rural Research & Policy     Open Access  
Oz : the Journal of the College of Architecture, Planning &Design at Kansas State University     Open Access   (Followers: 1)
Paisagem e Ambiente     Open Access  
Pampa : Revista Interuniversitaria de Estudios Territoriales     Open Access  
Paranoá : cadernos de arquitetura e urbanismo     Open Access  
Parks Stewardship Forum     Open Access  
Pensum     Open Access  
Polish Journal of Landscape Studies     Open Access  
Pós. Revista do Programa de Pós-Graduação em Arquitetura e Urbanismo da FAUUSP     Open Access  
Proceedings of the Institution of Civil Engineers - Urban Design and Planning     Hybrid Journal   (Followers: 11)
Procesos Urbanos     Open Access  
Produção Acadêmica     Open Access  
project baikal : Journal of architecture, design and urbanism     Open Access   (Followers: 2)
Projets de Paysage     Open Access  
Psychological Research on Urban Society     Open Access  
Quivera     Open Access  
Raumforschung und Raumordnung / Spatial Research and Planning     Open Access  
Research in Urbanism Series     Open Access   (Followers: 5)
Revista Amazônia Moderna     Open Access  
Revista Brasileira de Desenvolvimento Regional     Open Access  
Revista Brasileira de Estudos Urbanos e Regionais     Open Access  
Revista de Arquitectura     Open Access  
Revista de Design, Tecnologia e Sociedade     Open Access   (Followers: 1)
Revista de Estudos Urbanos e Regionais e-metropolis     Open Access  
Revista de Geografia e Ordenamento do Território     Open Access  
Revista El Topo     Open Access  
Revista Empresa y Humanismo     Open Access  
Revista Hábitat Sustenable     Open Access  
Revista Márgenes Espacio Arte y Sociedad     Open Access  
Revista Movimentos Sociais e Dinâmicas Espaciais     Open Access  
Revista Transporte y Territorio     Open Access  
Ri-Vista : Ricerche per la progettazione del paesaggio     Open Access  
Risco : Revista de Pesquisa em Arquitetura e Urbanismo     Open Access  
Room One Thousand     Open Access  
RUA     Open Access  
Rural & Urbano     Open Access  
Rural China     Hybrid Journal   (Followers: 2)
Rural Landscapes : Society, Environment, History     Open Access   (Followers: 6)
Rural Review : Ontario Rural Planning, Development, and Policy     Open Access  
Rural Society     Hybrid Journal   (Followers: 3)
Rural Sustainability Research     Open Access   (Followers: 2)
Scienze del Territorio     Open Access  
Sens public     Open Access  
Seoul Journal of Korean Studies     Full-text available via subscription   (Followers: 4)
Smart and Sustainable Built Environment     Hybrid Journal   (Followers: 8)
Smart Cities     Open Access   (Followers: 3)
Sociologia urbana e rurale     Full-text available via subscription  
South African Journal of Geomatics     Open Access   (Followers: 2)
South Australian Geographical Journal     Open Access  
Space Ontology International Journal     Open Access   (Followers: 1)
Storia Urbana     Full-text available via subscription  
Streetnotes     Open Access   (Followers: 2)
tecYt     Open Access  
TeMA Journal of Land Use, Mobility and Environment     Open Access   (Followers: 2)
Territoire en Mouvement     Open Access  
Territories : A Trans-Cultural Journal of Regional Studies     Open Access   (Followers: 1)
Territorio     Full-text available via subscription  
Territorio della Ricerca su Insediamenti e Ambiente. Rivista internazionale di cultura urbanistica     Open Access  

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Similar Journals
Journal Cover
Journal of Financial Management of Property and Construction
Journal Prestige (SJR): 0.309
Citation Impact (citeScore): 1
Number of Followers: 7  
 
  Hybrid Journal Hybrid journal (It can contain Open Access articles)
ISSN (Print) 1366-4387 - ISSN (Online) 1759-8443
Published by Emerald Homepage  [360 journals]
  • Cost–benefit analysis to appraise technical mitigation options for
           earthquake-induced liquefaction disaster events

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      Authors: Nadeeshani Wanigarathna , Keith Jones , Federica Pascale , Mariantonietta Morga , Abdelghani Meslem
      Abstract: Recent earthquake-induced liquefaction events and associated losses have increased researchers’ interest into liquefaction risk reduction interventions. To the best of the authors’ knowledge, there was no scholarly literature related to an economic appraisal of these risk reduction interventions. The purpose of this paper is to investigate the issues in applying cost–benefit analysis (CBA) principles to the evaluation of technical mitigations to reduce earthquake-induced liquefaction risk. CBA has been substantially used for risk mitigation option appraisal for a number of hazard threats. Previous literature in the form of systematic reviews, individual research and case studies, together with liquefaction risk and loss modelling literature, was used to develop a theoretical model of CBA for earthquake-induced liquefaction mitigation interventions. The model was tested using a scenario in a two-day workshop. Because liquefaction risk reduction techniques are relatively new, there is limited damage modelling and cost data available for use within CBAs. As such end users need to make significant assumptions when linking the results of technical investigations of damage to built-asset performance and probabilistic loss modelling resulting in many potential interventions being not cost-effective for low-impact disasters. This study questions whether a probabilistic approach should really be applied to localised rapid onset events like liquefaction, arguing that a deterministic approach for localised knowledge and context would be a better base for the cost-effectiveness mitigation interventions. This paper makes an original contribution to literature through a critical review of CBA approaches applied to disaster mitigation interventions. Further, this paper identifies challenges and limitations of applying probabilistic based CBA models to localised rapid onset disaster events where human losses are minimal and historic data is sparse; challenging researchers to develop new deterministic based approaches that use localised knowledge and context to evaluate the cost-effectiveness of mitigation interventions.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-04-14
      DOI: 10.1108/JFMPC-12-2021-0073
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Capital structure behaviour among Indonesian property developers during
           different business cycles

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      Authors: Imanda Luzari Indomo , Arief Wibisono Lubis
      Abstract: The issue of capital structure among property developers in Indonesia becomes interesting as the government speeds up housing development. Examining which theory prevails (trade-off versus pecking order) can be done by looking at several determinants of capital structure. This study aims to argue that examining determinants of capital structure in this context should also incorporate business cycles, as the activities of property developers are cyclical. Using a total of 183 observations of listed property developers from 2010 to 2019, this study uses the ordinary least squares regression technique. The focus is on determinants of capital structure, which are profitability, tangibility, firm size, ownership and potential growth. The observations are divided into different business cycles (expansion, peak, trough and decline) based on economic growth rates. The results show that the natures of relationships between capital structure (leverage) and its determinants are different during distinct business cycles. For example, profitability has a significant and positive effect on leverage during peak, but the signs are negative during trough and decline. Trade-off theory provides a better explanation of property developers’ capital structure behaviour during peak while pecking order theory is more relevant during trough. It is more difficult to conclude which of these theories is superior in expansion and sideways. There have been limited studies that focus on corporate finance issues of property developers in Indonesia, and no particular attention has been given to the role of business cycles.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-03-28
      DOI: 10.1108/JFMPC-07-2021-0050
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Use of new models of construction procurement to enhance collaboration in
           construction projects: the UK construction industry perspective

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      Authors: Robert John Atkinson , Maheshi Tennakoon , Gayan Wedawatta
      Abstract: The lack of collaborative working within the UK construction industry is a long-standing issue that has often been highlighted. As a result, the construction industry in the UK is encouraged to use novel procurement methods to create a collaborative working environment. This study aims to explore the collaborative features of the three new models of construction procurement introduced by the UK Government Construction Strategy in 2012. Existing research/literature was reviewed to establish the key collaborative features of the new procurement models, and a questionnaire survey was adopted to obtain views of industry practitioners. A Relative Importance Index was used to analyse the collected data. The sample of construction practitioners surveyed largely agrees with the effectiveness of collaborative features integrated within the models, with the benefits offered by early contractor involvement being seen as the most effective feature allowing collaboration. Contractual incentives, improved communication procedures and constant reflection and feedback can be used as effective strategies to enable greater collaboration in projects that use these new procurement models. Findings reported in the paper could help achieve greater collaboration in construction projects executed using the new models of construction procurement. This study sheds light on the scepticism and/or conviction of industry practitioners regarding the collaborative benefits offered by the new procurement models, which have not yet been subjected to significant academic scrutiny.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-03-11
      DOI: 10.1108/JFMPC-02-2021-0016
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Subcontractor trust issues on payment and valuation practices in UK
           private projects

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      Authors: Temitope Seun Omotayo , Oskar Danvers-Watson , Adekunle Sabitu Oyegoke
      Abstract: Construction project delivery is hinged on the performance of the contractor and subcontractors. In many private construction projects in the UK, there are trust issues between the subcontractor and contractor, especially when there are no collateral warranties to protect the rights of the subcontractors. The purpose of this study is to investigate and identify the causations of distrust between subcontractors and contractors and proffered panaceas. Qualitative open-ended questions were used. Twenty respondents, mainly supervisors, tradesmen, subcontractors and main contractors in the UK, were interviewed. The thematic analysis approach was used to identify the dominant themes. The interview findings were presented descriptively, and the frequency approach identified more occurring themes from the interviewees’ responses. The six themes contributing to distrust between subcontractor and contractor are financial pressures, partnering approach, payment and trust, nature of trust, internal influence and unfair payment. The findings of this study revealed that many subcontractors have limited knowledge of the clauses in contracts they are entering into. Thus, in addition to obtaining collateral warranties, subcontractors must carefully understand their contractual obligations and payment arrangements before agreeing to be part of a construction project. Although this study aimed to shed light on the distrust between subcontractors and contractors in private UK construction projects, improvements in contract administration, subcontractors continued professional development and improved valuation processes can reduce distrust between subcontractors and contractors.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-03-11
      DOI: 10.1108/JFMPC-07-2021-0048
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Dimension of community capability and its effect on the social
           vulnerability at Semarang coastal area

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      Authors: Nany Yuliastuti , Ega Varian Okta , Vica Gitya Haryanti , Farhan Afif
      Abstract: Tanjung Mas, an urban village located in the northern part of Semarang city, has been facing a major impact of coastal inundation occurring along North Java Coastline. This by-product of global climate change is also affecting a 37-hectares slum, one of the largest slums in Semarang city. As the coastal flood tends to escalate every year, the affected areas must have a coping ability to reduce its impact, while also having adequate resources to recover. Considering Tanjung Mas’ dense demographic condition and its function as the city’s seaport, social vulnerability and capability play a significant role in mitigating and recovering flood impacts, in supplement to local government’s effort of strengthening the Northern Java Seawall. Therefore, this study aims to scored and correlated Tanjung Mas’ social vulnerability index (SoVI) and community capability index to assess how well its population can recover from the tidal flood in the future. This study used the SoVI framework analysis to synthesize relevant social vulnerability indicators and community capability indicators in Tanjung Mas. The two sets of indicators were correlated with Pearson R-squared correlation method to seek a possible non-causal relation. Bivariate indices mapping method exhibit the SoVI and community capability index spatially to show every area’s vulnerability and capability level. The vulnerability and capability level in Tanjung Mas vary within its smaller area, as six combinations of social vulnerability and community capability level were found. The worst combination was found on areas closer to the coastline, with high social vulnerability and low community capability level. These areas need to be strengthened in both its capability and coping ability toward coastal flood to realize a resilient community. This study will be useful for local governments as a supplement to the strategic spatial plan, predominantly in prioritizing vulnerable area treatment prior to the completion of Northern Java Seawall in 2025. This study provides information and a simplified quantitative scoring result of vulnerability and capability level in slum area that has been customized according to Indonesia’s demographic characteristic. These results and framework might be relevant to SoVI and capability scoring in developing countries.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-03-08
      DOI: 10.1108/JFMPC-07-2021-0043
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Climate financing barriers and strategies: the case of Sri Lanka

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      Authors: Miyami Dasandara , Bingunath Ingirige , Udayangani Kulatunga , Terrence Fernando
      Abstract: Climate change mitigation and adaptation play an important role in overcoming the climate change challenges facing Sri Lanka today. Many initiatives have been undertaken to implement different policies and plans in this regard, which require considerable mobilisation of national and international financing. In acquiring climate finance, many barriers can be identified. This paper aims to investigate such barriers to climate financing in Sri Lanka and proposes strategies to address them. The qualitative research approach was undertaken in this study by conducting ten semi-structured interviews with experts who are involved in climate change policy implementation activities in Sri Lanka. The collected data were analysed using the content analysis method via Nvivo software. The empirical findings unveil six key barriers and the corresponding root causes to climate financing in Sri Lanka. Inadequate domestic funding for climate actions was captured as the dominant barrier in this direction. This study also revealed that barriers and their root causes are interconnected, leading to many financial limitations in implementing climate actions. The importance of playing a leading role by the government and enabling an integrated approach between the private and public sector organisations were identified as key strategies to combat climate finance barriers. Despite there being studies focusing on climate change and related policies, limited research has been carried out with regard to climate financing. Within this context, this study makes an original contribution in the area of climate financing with particular reference to a developing country like Sri Lanka. Further, the identification of barriers to climate financing, their root causes and strategies to address them also provides an original contribution to theory and practice.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-03-04
      DOI: 10.1108/JFMPC-12-2021-0069
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Property taxation: the encouraging factors for payment among the taxpayers

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      Authors: Shardy Abdullah , Muhammad Rosmizan Abdul Wahab , Arman Abdul Razak , Mohd Hanizun Hanafi
      Abstract: The purpose of this study was identifying factors that encourage property tax payment among property owners, specifically from the residential property segment within the Malaysian context. This aim is derived from existing evidence which clearly indicates a steady annual increase in property tax arrears from non-complying property owners as reported by the local governments (LGs). This research was conducted using a survey method where a questionnaire was used as the research instrument in garnering the necessary study data. The collected data was analyzed through quantitative means towards gleaning study findings to fulfil the set objectives. The analyses used within this study were reliability analysis, descriptive analysis and factor analysis. Research findings indicate that there are five factors that encourage property tax payment, namely, the proactive action capability of LGs; stimulation of payment; quality of staff and service; reliable tax foundation and governance; and smart expenditure. The identification of these factors has the potential to act as a mitigation mechanism for LGs to alleviate the issue of property tax arrears. The findings of this study may be used by LGs in developing a comprehensive action plan to encourage property owners to pay taxes. The study findings are exploratory in nature, based on the locality of the LG selected in this study, the Penang Island City Council (MBPP). As such, the findings may not be considered as a generalization of the property tax situation throughout Malaysia as study data was only collected from the administrative region of MBPP. However, these findings can still be used as a basis in establishing similar studies within other LGs which demonstrate similar characteristics with MBPP. In the Malaysian scenario, the focus of the previous studies on property tax arrears revolves around actions that have been taken by LGs to encourage the payment of property tax. However, in this study, the determination of encouraging factors is no longer referred to LG perspectives but was investigated from the taxpayer dimension. This approach allows new mitigating ideas to be developed and adds value in the context of a different perspective towards establishing a more practicable action plan in reducing property tax arrears.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-03-01
      DOI: 10.1108/JFMPC-07-2021-0042
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Prioritisation of resilience criteria and performance indicators for road
           

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      Authors: Zeeshan Aziz , Ebrahim Alzaabi , Mohamad Syazli Fathi
      Abstract: This paper aims to develop a crisis readiness framework for road traffic crisis response for law enforcement agencies in the United Arab Emirates (UAE). A Delphi method was used that combined questionnaire-based survey and the analytical hierarchy process to collect quantitative and qualitative data from an expert panel of crisis readiness professionals on how they prioritise and weigh the different strategic criteria, sub-criteria and performance indicators in the context of law enforcement agencies’ traffic response. The findings of this paper resulted in the identification, ranking and validation of ten key dimensions of crisis readiness clustered into three distinct sets of priority rankings: response planning, resources, training and coordination; information management and communication and risk and hazard assessment; and early warning, legal and institutional frameworks, recovery initiation and property protection. The results additionally established the relative priority of sub-criteria for each criterion and validated a broad set of key performance indicators (KPIs) for the top six ranked criteria. The findings are based on a single case study focused on a specific area of operation within crisis response and one group of organisations of the UAE police sector. This potentially places a constraint on the wider generalisation of the findings to different operational areas and agencies, as they may have different priorities or organisational conditions that have implications for the framework application and the relative importance of certain criteria and sub-criteria. This paper provides strategic guidance in the form of a prioritised list of criteria, sub-criteria and KPIs that can direct efforts to optimise different dimensions of crisis readiness at a strategic and operational level. This paper makes an original contribution in identifying the key criteria and performance indicators of crisis readiness for road traffic situations. The findings contribute a comprehensive strategic readiness framework that supports planning and decision-making for the development of organisational capacities that can enhance response times of police to road traffic crises. This framework ranks dimensions of crisis readiness and key sub-criteria in order of priority and validates the key components of crisis readiness that can support practitioners to structure, standardise and benchmark key processes and elements of crisis response.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-02-16
      DOI: 10.1108/JFMPC-11-2021-0065
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Design morphology complexity and conceptual building project cost
           forecasting

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      Authors: Dimitrios D. Kantianis
      Abstract: This research aims to develop conceptual phase building project cost forecasting models by exploring the relationship of existing plan shape complexity indices and general design morphology parameters with total construction cost. Plan shape indices proposed to date by the literature for measuring building design complexity are critically reviewed. Building morphology is also dictated by town planning restrictions such as plot coverage ratio or number of storeys. This study analyses historical data collected from 49 residential building projects to develop multiple linear regression (MLR) and artificial neural network (ANN) models for forecasting construction cost. Existing plan shape coefficients are calculated to evaluate the geometrical complexity of sampled projects. Ten regression-based cost estimating equations are totally derived from stepwise backward and forward methods, and their predictive accuracy is contrasted: to performance levels reported in past studies and to ANN models developed in this research with multilayer perceptron architecture. Analysis of plan shape indices revealed that 85.7% of examined past projects possess a high degree of design complexity, hence resulting in expensive initial decisions. This highlights the need for more effective early design stage decision-making by developing new building economic tools. The most accurate regression model, with a mean absolute percentage error (MAPE) of 19.2%, predicts the log of total cost from wall to floor index and total building envelope surface. Other explanatory variables resulting in MAPE values in the order of 20%–22% are total volume, volume above ground level, gross floor area below ground level, gross floor area per storey and total number of storeys. The overall MAPE of regression-based equations is 24.3% whilst ANN models are slightly more accurate with MAPE scores of 21.8% and 21.6% for one hidden and two hidden layers, respectively. The most accurate forecasting model in the research is the ANN with two hidden layers and the sigmoid activation function which predicts total building cost from total building volume (19.1%). This paper introduces MLR-based and ANN-based conceptual construction cost forecasting models which are founded solely on building morphology design parameters and compare favourably with previous studies with an average predictive accuracy less than 25%. This paper is expected to be beneficial to both practitioners and academics in the built environment towards more effective cost planning of building projects. The methodology suggested can further be implemented in other countries provided that accurate and relevant data from historical projects are used.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-01-27
      DOI: 10.1108/JFMPC-04-2021-0027
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Effect of institutional context and finance context of housing finance on
           home ownership among low-income earners in Bauchi

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      Authors: Moses Jonathan Gambo
      Abstract: The purpose of this paper is to evaluate the effects of housing finance institutional and financial context on beneficiaries’ context to low income earners in Bauchi Local Government Area, Bauchi, Nigeria This paper adopted a quantitative research approach. Self-administered structured questionnaires were used to collect information from 357 primary school teachers in Bauchi Local Government Area, Bauchi, Nigeria. Partial least squares-structural equation modeling was used to analyze the data collected using SmartPLS 2 software This study revealed that effectiveness of financial institutions and their performance has significant positive causal effect on low income earners housing ownership context, which shows that performance and effectiveness of the housing finance institutions is vital to housing ownership for the low income earners in the study area. Thus, performance of housing finance institutions and their effectiveness has direct effects on low income earners housing ownership through finance affordability The prime consumer of these research findings are the financial institutions, this will make them bulk up in terms of their performance and effectiveness toward housing finance accessibility and affordability to the low income earners such as the primary school teachers in the study area. This paper used the technology organization environment theory, which is a multi-perspective theory to evaluate the concepts of institutional, finance and beneficiaries context with respect to housing finance in Bauchi by conceptualizing institutional context as effectiveness and performance, finance context as affordability and accessibility and beneficiaries context as ownership.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-01-13
      DOI: 10.1108/JFMPC-07-2021-0045
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Risk transfer in project finance loans for toll road using credit default
           swaps

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      Authors: Wei Yang , Afshin Firouzi , Chun-Qing Li
      Abstract: The purpose of this paper is to demonstrate the applicability of the Credit Default Swaps (CDS), as a financial instrument, for transferring of risk in project finance loans. Also, an equation has been derived for pricing of CDS spreads. The debt service cover ratio (DSCR) is modeled as a Brownian Motion (BM) with a power-law model fitted to the mean and half-variance of the existing data set of DSCRs. The survival probability of DSCR is calculated during the operational phase of the project finance deal, using a closed-form analytical method, and the results are verified by Monte Carlo simulation (MCS). It is found that using the power-law model yields higher CDS premiums. This in turn confirms the necessity of conducting rigorous statistical analysis in fitting the best performing model as uninformed reliance on constant time-invariant drift and diffusion model can erroneously result in smaller CDS spreads. A sensitivity analysis also shows that the results are very sensitive to the recovery rate and cost of debt values. Insufficiency of free cash flow is a major risk in the toll road project finance and hence there is a need to develop innovative financial instruments for risk management. In this paper, a novel valuation method of CDS is proposed assuming that DSCR follows the BM stochastic process.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-01-11
      DOI: 10.1108/JFMPC-03-2021-0020
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Key factors affecting commercial actors in collaborative working within
           the UK construction industry

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      Authors: Sa’id Namadi Ahmed , Christine Pasquire , Emmanuel Manu
      Abstract: Extensive research on the importance of collaborative working (CW) and aligning stakeholders’ interests in construction has been widely conducted. But often the practice of commercial actors during CW has often been overlooked, particularly within the UK setting, where scholars have lamented on the lack of industry-wide collaboration. This study aims to explore the factors affecting commercial actors in CW, specific to the UK construction industry. The research used a context-based approach to seek stakeholders’ perspectives on the key factors affecting commercial actors in CW within the UK. Semi-structured interviews with individuals (contractors, cost consultants, designers among others) from construction and infrastructure organisations were conducted, using multiple case study investigations. The collected data was analysed using a case study approach, and principles of inductive thematic analysis to identify the key factors. Findings from the analysis identified “institutional” factors such as transactional cost economic influence, the prevailing construction model influence and professional related drivers. Key drivers within these factors include commercial background and training, custom and practice, misaligned interests in projects, clients’ perception of consultants, cost-driven environment, conventional procurement protocols and bureaucratic functions. In conclusion, these factors continue to affect CW with undue influence on commercial actors in the UK, thus preventing performance improvement demanded by successive UK Government reports. The context-based approach applied in this study is expected to provide some insight in construction management research, especially from a commercial perspective in the UK, to gain an understanding of how these factors are manifesting.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2022-01-04
      DOI: 10.1108/JFMPC-01-2021-0004
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2022)
       
  • Assessment of cost management practices of civil engineering (project
           procurement) organisations in Ondo State, Nigeria

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      Authors: Adedotun Ojo, Olusola Ogunsina, Deji R. Ogunsemi
      Abstract: The purpose of the work presented here is to assess the cost management practices of civil engineering organisations in Nigeria, with an overall aim of developing a generic cost management process map. The first objective is to compare existing frameworks theoretically to highlight their strengths and weaknesses. The second objective is to use the findings of the first objective to assess or benchmark the developed process map obtained from the multiple cases. The third objective is to compare the generic process map with the traditional building cost management process map to evaluate the strengths and shortcomings of the generic process map, which resulted in conclusions and recommendations made at the end of the research. Data for the work was collected via semi-structured interviews, review of literature and official documents of the civil engineering organisations visited. To achieve the stated objectives, comparative analysis technique was used to compare existing frameworks on cost management to obtain the basis to benchmark the generic process map. The single case narrative technique was used to present each case; and the cross-case synthesis technique was used to present the multiple cases on each cost management process examined. Then, process maps were deployed to represent the homogeneous sets of civil engineering organisations, out of which the generic process map was developed. Comparative analysis was again deployed to compare the generic process map with the traditional building process map of cost management practice to evaluate the findings. It was found out that the generic civil engineering process map is not as detailed and effective as the building process map in providing best value for money, accurate early cost estimates, accurate cost certainty and post-contract cost control. This research study provides an industrial impetus to push for the involvement of more quantity surveyors (QS) as cost management process owners in the procurement of civil engineering projects in Nigeria, hence encouraging government’s efforts in the enforcement of more accurate project cost estimates and promoting the QS’s project-specific advice on capital, operational, maintenance and life cycle costs.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-06-18
      DOI: 10.1108/JFMPC-06-2020-0044
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Factors affecting the selection of effective cost control techniques in
           the UK construction industry

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      Authors: Adekunle Sabitu Oyegoke, Robert Powell, Saheed Ajayi, Godawatte Arachchige Gimhan Rathnagee Godawatte, Temidayo Akenroye
      Abstract: This paper aims to identify and analyse the factors affecting the selection of effective cost control techniques in the UK construction industry and assess their importance. The study examines these key areas; the factors that have significant impacts on cost overruns, the most effective cost control techniques and the factors for selecting cost control techniques for a project. The study relies on a mixed-method research approach; a qualitative exploration of the most effective cost control techniques and the factors affecting the selection of cost control techniques, followed by a questionnaire survey and follow-up interviews. Relative importance index (RII) is used for ranking the factors. The budgeting technique is ranked first with-0.821RII, followed by cost forecasting-0.800RII and cashflow monitoring-00.733RII, as the most effective cost control techniques. On factors that influenced the choice of the techniques used, cost information/cost-related factors are ranked first with-0.611RII, followed by the size of the company-0.509RII and the effectiveness of the technique-0.572RII. Although the scope of the study was limited to the UK construction industry, the results could be interpreted for critical learning in other developed/developing countries. Identifying and ranking the factors affecting the selection of effective cost control techniques in the UK construction industry has been the focal point of this study. The study also proposes a simple but effective model which can be used for critical learning on mitigating cost overruns and the effective use of cost control techniques in the construction industry.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-05-10
      DOI: 10.1108/JFMPC-07-2020-0050
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Trends of construction industry in Malaysia and its emerging challenges

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      Authors: Gholamreza Dehdasht, M Salim Ferwati, Nazirah Zainul Abidin, Michael Olubukola Oyedeji
      Abstract: The transition of Malaysia from a developing country to a developed country was considered in vision 2020, whereby an average construction contribution of 6.0% in growth domestic product (GDP) per annum was required. Despite this importance, still, the Malaysian construction industry has not reached the target yet. Understanding the weakness and strength of this industry can be an effective way to help the policymakers in selecting the best strategy in the promotion of the Malaysian construction industry in GDP growth. Hence, the purpose of this paper is to present an overview of the current issues and challenges faced by the contribution of the Malaysian construction industry in GDP growth. To achieve this objective, all the latest statistical data presented by the Department of Statistic and Construction Industry Development Board in Malaysia until March 2018 being collected and interpreted. Furthermore, through the literature review, the most significant challenges encountered by the Malaysian construction industry identified, compared and presented. The results highlight that the contribution of Malaysian construction into GDP is increasing with a gentle slope. Nonetheless, the Malaysian construction industry has a high impact on the employment rate. More investment in the construction sector is required to meet an average of 6% contribution in GDP. Also, to be able to seize new opportunities in the global construction market, more exerted efforts have to overcome the challenges faced by this industry. This study offers practical implications to policy and decision makers in the Malaysian construction industry. Despite the constant growth of the Malaysian construction industry in recent years, there is a need for more investments and overcome to challenges to encounter an average of 6% contribution in GDP. This study provides an overview and insights to investors, stockholders and managers to formulate a long-term plan promoting the efficiency of the Malaysian construction industry. This study through explaining, comparing and interpreting the real statistical data, through the tables, figures and graphs, simplified the understanding of the weakness and strength of the Malaysian construction industry.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-05-05
      DOI: 10.1108/JFMPC-08-2020-0054
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • An analysis of the economic viability of waste-to-energy generation in the
           Kumasi metropolis of Ghana

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      Authors: De-Graft Owusu-Manu, E. Amo-Asamoah, Frank Ato Ghansah, George Asumadu
      Abstract: Kumasi Metropolis, the second-largest city in Ghana is known to be bewildered with challenges relating to waste management. As a means of solving the waste management challenge, several suggestions are often made for the establishment of a waste-to-energy plant to manage the disposal of waste and generation of income. There have been no studies conducted to determine how economically viable such plants will be. This study aims to examine the economic viability of waste-to-energy generation in the Kumasi Metropolis to find out how economically viable such an approach will be. To achieve this, a simple debt-equity ratio business model based on discounted cash flow technique was applied to estimate the internal rate of returns (IRR) as a measure of the economic viability and profitability of a modelled 50 MWH waste-energy generation plant in the Kumasi Metropolis. The analysis was performed using the RetScreen Expert Software. The results show that the IRR and benefits cost ratio of the facility were 36% and 5.8%, respectively, indicating high levels of profitability and economic viability. The study concludes that waste-to-energy generation will be an economically viable venture in the Kumasi Metropolis. It is, however, important for users of the findings of this study to take caution of the fact that the various assumptions although based on current knowledge and expert opinion may vary with time; therefore, the sensitive analysis on price and costs should always be considered. Practically, this study will contribute to solving the waste management situation in most cities, as well as generating revenue and helping close the energy deficit most developing countries are grabbling with. The unique contribution of the study to knowledge is that it has professed an alternative analytical and methodological approach to measuring the financial viability of waste-to-energy plants in situations where there is none in the geographical jurisdiction of the proposed project.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-04-08
      DOI: 10.1108/JFMPC-12-2019-0089
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Multi-criteria decision-making framework for selecting sustainable private
           partners for housing projects

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      Authors: Abdullah Khalid Abdullah, Adel Alshibani
      Abstract: This paper aims to develop a framework for the selection of private partners in the housing industry of Saudi Arabia under the scheme of the partnership between the public and private sectors. By investigating criteria from a comprehensive literature review and experts input through surveys, developing further surveys incorporating decision-making methods: analytic hierarchy process (AHP) and multi-attribute utility theory (MAUT) to construct a framework for selection based on weightages and utilities. The results identified criteria categorized under four categories: financial (C1), technical (C2), managerial (C3) and safety/environment (C4) and their sub-criteria. The study found that the main criteria were relatively close to each other in importance based on the subjective input of the experts with the technical and safety/environment criteria tying equally with 27% followed by the managerial with 24% and trailed by the financial with 22%. The study and surveys were conducted for the Saudi market and the experts were within the country. The study contributes to the Saudi housing initiative which is a part of the 2030 Vision and provides insight to international investors who would be willing to invest in the Saudi market; and to the literature as there is a notable lack of study on public-private partnership in housing in Saudi Arabia.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-04-02
      DOI: 10.1108/JFMPC-07-2020-0046
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • An evaluation of offsite construction skill profiles

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      Authors: Buddhini Ginigaddara, Srinath Perera, Yingbin Feng, Payam Rahnamayiezekavat
      Abstract: This paper aims to evaluate the existing and emerging Offsite Construction (OSC) skills. Construction industry is inherently labour oriented, fashioning poor labour productivity, low sustainability, slow and costly processes. These shortcomings promote OSC alongside driving forces such as industrialisation, automation and digitalisation. However, the traditional construction skills are not on par with the complexity, where robots, co-bots and digital-driven automated systems create the need for novel OSC skills. Data collection is executed through a Roundtable activity hosting Construction Management academics form Australian universities specialising in construction technology. They engaged in ranking of skills along with creating a word cloud for the question, “what are the future construction skills that will be more beneficial in an OSC platform'” Word cloud is reviewed in a discussion approach while skills ranking data is analysed using descriptive statistics. The most prominent OSC skills are logistics manager, project manager and digital producer. Attributes of skills that come under construction trades workers, design, engineering and specialist professionals will vary based on onsite-offsite percentage combination in a construction project. Study reviews the required construction skills at two ends of a continuum featuring the trade-based skills; bricklayer, concreter and carpenter at one end (traditional build) and the heavily digitalised and automated skills at the other end (OSC). The noticeable transition towards OSC urges industry practitioners, policy-makers and education providers to focus on understanding and cultivating key OSC skills. This study describes the transition of skills from onsite to OSC. It is presented as one of the earliest attempts to evaluate OSC skill profiles.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-02-22
      DOI: 10.1108/JFMPC-08-2020-0057
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Profitability determinants of infrastructure public private partnerships
           (PPPs): empirical evidence from Indian data

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      Authors: Ashish Kumar, Vikas Srivastava, Mosab I. Tabash, Divyanshi Chawda
      Abstract: The purpose of this study is to empirically investigate the variables having an impact on profitability of public private partnerships (PPPs) in India using a balanced panel data of 171 unlisted PPPs from different infrastructure sectors such as road, power generation, real estate and ports. Estimations were done using Arellano–Bond dynamic panel data estimation and seemingly unrelated regression models on a balanced panel data of 855 firm-years for 171 unlisted PPPs in India. To further test the estimation robustness, panel-corrected standard errors model was used. The study findings indicate that in firm-specific factors, leverage, size, non-debt tax shield, growth and risk have significant positive impact on PPPs’ profitability, whereas in macroeconomic factors, only inflation has significant positive relationship. Although the relationship of all determinants is in sync with various theories and approaches, but these are not significant. Using the robustness test, the results are found to be robust and consistent with resource-based view and strategy-structure-performance approaches. As PPPs are gaining prominence in the development of infrastructural resources, their profitability is of significant importance to drive private investments in infrastructure development, the identification of factors which determine profitability is critical for researchers, practitioners, policymakers and fund providers such as equity investors and debt providers. The empirical literature on profitability determinants is focused on various sectors including small and mid-size enterprises (SMEs) and micro firms, but to the best of the authors’ knowledge, this is the first study, in both developed and developing economies, to empirically investigate the determinants of profitability for PPPs.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-02-17
      DOI: 10.1108/JFMPC-09-2020-0062
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • Identification of critical success factors (CSFs) for real estate
           developers (REDs) in India

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      Authors: Harish Kumar Singla, Pradeepta Kumar Samanta
      Abstract: The paper aims to identify the critical success factors (CSFs) at an individual level for real estate developers (REDs) in India. Fifteen individual-level CSFs are identified from literature review. These CSFs are moderated through expert opinion, and they are customized for the real-estate sector. Five-point scale questionnaire is developed and furnished to REDs to understand the importance of these 15 CSFs. Fifty-six REDs responded to the survey. Using the responses from the survey, relative importance index is created for all 15 factors. These factors are also grouped in broad categories using exploratory factor analysis and the groups are further validated through confirmatory factor analysis. The study finds that leadership quality, man-management skill, disputes resolution skill, ability to take risk and knowledge about construction and finance are the top five CSFs for REDs in India. The exploratory factor analysis resulted in five groups and they are named as “liaising with government,” “relationship management,” “knowledge management,” “skill management” and “ability.” The groups exhibit reasonable reliability and validity. Despite useful results, study being exploratory in nature is limited because of a small sample size. Despite best efforts, authors find reluctance from REDs to respond to the survey. The findings of the study are important for REDs and success of their business. The business of REDs can improve if they exhibit leadership quality, man-management skill and disputes resolution skill. The ability of the developers to take risk and their knowledge about construction and finance can also be vital for the success of their business. To the best of authors’ knowledge, this is the first attempt to identify CSFs for REDs in India.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-02-12
      DOI: 10.1108/JFMPC-04-2020-0028
      Issue No: Vol. ahead-of-print, No. ahead-of-print (2021)
       
  • The challenge of implementing public-private partnerships: a transaction
           costs perspective on waste to energy projects in Indonesia

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      Authors: Azelia Machsari Haqq , Yohanna M.L. Gultom
      Abstract: This study aims to explore the reasons behind the lengthy delays in completing a single public-private partnership (PPP) project in Indonesia and investigates how the transaction costs play a significant role in hindering the project’s success. To broaden insight into the transaction cost theory, the authors used a single case study approach to provide a more in-depth analysis of a context whose complexity can be fully explored. As the primary data sources, 16 face-to-face semi-structured interviews were conducted with the stakeholders directly involved in the project’s initiation, design and execution. This case study demonstrates that transaction cost issues, both political and economic, play a significant role. This study has identified four main problems associated with transaction costs hindering project success, namely, executing agencies’ lack of knowledge and experience, lack of coordination for such a complex governance structure that links too many stakeholders and the financial and political risk that increase the uncertainty and public distrust. This study contributes mainly to the PPP and transaction costs economics literature, providing empirical evidence on why major PPP projects may fail to be procured. The Greater Bandung waste to energy (WTE) Project case demonstrates that transaction costs, both political and economic, have played a significant role in the lengthy delay of the PPP project. As the project involves many transaction cost issues, mapping the failure factors at the project sites can significantly contribute to the practitioners/stakeholders involved in the PPP WTE projects. Therefore, this study provides a lesson to the policymakers at all levels interested in PPPs to consider the issues of transaction costs related to the PPP projects. It can be used as guidance as well as a reference for future PPP WTE projects in Indonesia. Mapping the failure factors also signifying the response of the public in the PPP WTE projects undertaken. As the citizens become more rule-conscious and rights-conscious, they demand the opportunity to participate in creating rules and project plans. If the project failed to consult with affected communities and undermined democratic accountability, the angry citizens will confront the government to cancel the project. Therefore, political and economic influences for public attitude play significant roles in making the PPP WTE projects successful. This study provides insight into the transaction cost issues that have hindered the completion of Indonesia’s PPP WTE project over the past 15 years. Additionally, the project feasibility analysis should include an understanding of transaction costs for partnering in PPP.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-12-07
      DOI: 10.1108/JFMPC-09-2020-0058
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Attributes and impact of advance payment system on cash flow, project and
           organisational performance

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      Authors: Emmanuel Dele Omopariola , Abimbola Olukemi Windapo , David J. Edwards , Nicholas Chileshe
      Abstract: Construction companies require meticulous and thorough financial planning to ensure business survival in an increasingly competitive global market. Past studies assert that cash flow management is also crucial to meeting project and organisational performance expectations. However, the link between an advance payment system (APS), cash flow and project performance has hitherto received scant academic attention. Therefore, this study aims to investigate the attributes and impact of APS on cash flow, project and organisational performance. This study surveyed all registered contractors listed in Grades 1–9 on the Construction Industry Development Board Register of Contractors in South Africa. This study adopted an empirical epistemological design and deductive reasoning to analyse primary data collated via a questionnaire data collection instrument. Summary statistical and regression analysis were used to explore data garnered. This study found that key significant attributes of APS in South Africa were payment of balance to the contractor upon project delivery; advance payment to contractors before the commencement of the work; and payment to contractors as agreed. This study proffers that project performance in terms of cost, time and quality performance is highly and positively supported by APS. Moreover, APS positively supports the efficiency, competitiveness and profitability of construction organisations. Cumulatively, these findings confirm that APS attributes in South Africa conforms to the global attributes of APS. The research concludes that client use of APS on projects improves the likelihood of attaining improved quality and time performance. This paper concludes with a recommendation that both public and private clients consider the option of an APS as the ideal payment system to support project and organisational performance. To the best of the authors’ knowledge, this work constitutes the first attempt to explore the linkages between an APS, cash flow and project performance in South Africa and seeks to engender wider polemic debate and further discussion among industry stakeholders.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-11-23
      DOI: 10.1108/JFMPC-03-2021-0022
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Unpacking the framework of unsolicited proposal for public private
           partnership projects – the Indian case

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      Authors: Varaprasad Mallisetti , Tharun Dolla , Boeing Laishram
      Abstract: The most recent advent of the unsolicited proposal in the public private partnership mode of infrastructure procurement has changed the duties and roles of private and public sector agencies. Also, they have increased the practitioners' difficulties to work out strategic mechanisms and methods to manage these unsolicited proposals (USP) effectively. So, this study aims to understand how well equipped are the Indian USP guidelines for managing procurement. Content analysis with coding procedures was carried to understand the regulations of USP frameworks of India over the four stages of USP procurement. The findings show that there are severe flaws in various states' frameworks. The states have flaws in their policies in implementation features across the stages of USP such as defined objectives, the absence of fees and review timeframes in the submission, time frame and guidance on benchmarking and market testing in evaluation and development, time frame for bidding and access to information in procurement stages. The USP implementation framework developed as part of this study can direct the policymakers and practitioners to improve public procurement regulations and the necessary changes for the successful implementation of USPs. In doing this, the private sector is enabled to develop more competitive and innovative proposals.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-11-23
      DOI: 10.1108/JFMPC-04-2020-0021
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • A retrospection of methodological pluralism in the (2005-2020)

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      Authors: Chipozya Kosta Tembo , Adeyemi Akintola
      Abstract: This paper presents a review of research methodologies used in addressing problems in the financial management of property and construction journals from 2005 to 2020. Content analysis of 258 research papers published in the Journal of Financial Management of Property and Construction was carried out, enabling the exploration of research approaches, epistemology, strategies, data collection and data analysis methods used in addressing problems researched in the area of financial management of property and construction The findings show that quantitative approaches and methods dominate, whereas qualitative and mixed methods were prominent in-depth understanding of a topics were needed. Interestingly, almost a third of the publications did not adopt quantitative approaches. In some journal issues, there was relatively high use of qualitative and multi-method approaches and up to 12% of the articles published over the past 16 years could be described as based on pragmatism. An important implication of this paper is that a conventionally number-based area of research does not preclude the use of qualitative and mixed approaches. The findings are only generalisable to the Journal of Financial Management of Property and Construction. Financial management researchers could benefit greatly by considering pluralistic approaches more in the design of their studies. To the best of the authors’ knowledge, this study is an original synthesis of the articles published between 2005 and 2020. It provides new insight into the use of research methodologies by authors and how they have been combined to address their research problems. It further investigates an old issue or question about methodological choice-making using new evidence and original empirical work.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-10-27
      DOI: 10.1108/JFMPC-11-2020-0074
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Real options analysis of revenue risk sharing in post-disaster housing
           reconstruction

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      Authors: Mohammad Vahdatmanesh , Afshin Firouzi , James Olabode Bamidele Rotimi
      Abstract: Post-disaster housing reconstruction (PDHR) demands a considerable percentage of global property investment, yet the post-disaster environment presents intricate challenges to reconstruction financing for governments and at the same time, revenue uncertainty for private investors. The purpose of this study is to develop a methodology for tackling land shortage and the financial challenges of PDHR in the aftermath of a disaster. This study developed a methodology based on a combined minimum revenue guarantee and maximum revenue cap model using a well-established real options analysis (ROA) for revenue risk sharing in PDHR projects and land readjustment (LR) for finance. The applicability of the purported model is demonstrated through an illustrative example. The results show that flexibility in the options could increase the PDHR contractor’s risk profile by increasing the expected value of the contractor investment and reducing the probability of investment loss. On the other side, a cap on the contractor revenue stream would allow the government to benefit from any excess in revenue and would counterbalance the value of the option. The framework proposed in this study could serve as a practical risk-revenue sharing in PDHR projects. Governments and policymakers could use the findings to enable the successful delivery of PDHR projects and consequently bring the quality of life of affected people to pre-disaster conditions. This study can be considered as a first attempt toward the use of the Australian barrier style options structure, and the trinomial lattice valuation model in PDHR projects, which incorporates LR, public-private partnerships, governmental guarantees and PDHR concepts in one ROA-based framework.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-09-27
      DOI: 10.1108/JFMPC-02-2021-0018
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Are the public tertiary education building projects devoid of risks in the
           Nigerian construction context'

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      Authors: Olufisayo Adedokun , Isaac Aje , Oluwaseyi Awodele , Temitope Egbelakin
      Abstract: The non-performance of construction projects in meeting the set objectives has continued to draw researchers worldwide. Despite this, little attention is accorded to public tertiary education building projects in Nigeria. Therefore, on this background, this study aims to assess the perceptions of stakeholders on the level of occurrence of risk factors in the public tertiary education building projects (TEBP) to enhance the performance of these projects. The study adopted a quantitative method of data collection via a questionnaire survey. In total, 452 questionnaires were administered to the respondents comprising client representatives, consultants (quantity surveyors, architects, services and structural engineers and builders) and the contractor. The respondents were involved in the conception and execution of TEBP across five public tertiary education institutions in Ondo State, Nigeria. Of 452 questionnaires, 279 were retrieved and found suitable for analysis, indicating a 61.73% response rate. The reliability analysis for the research instrument was 0.965 via the Cronbach α test, indicating the high reliability of the instrument used for the data collection. Moreover, the clusters of risk factors also had reliability values that ranged between 0.719 and 0.875. The study found inflation, delayed payments in contracts, high competition bids, delay in work progress and occurrence of variations are the most frequently occurring risk factors in public TEBP. By contrast, difficulty to access the site, environmental factors and pollution were found to be low-weighted risks with the least likelihood of occurrence. The results of this study indicated the existence of significant differences in some of the risk factors in terms of the level of risk occurrence in TEBP. The risk factors were eventually clustered into eight major groups for TEBP. The post hoc comparisons using the least significant difference test also indicated differences between the contractors and consultants in the ranking of risks occurrence in TEBP, but no significant differences between clients/contractors and clients/consultants. The findings in this study are limited to the public TEBP procured via competitive tendering; therefore, the results might not be applicable when other procurement methods are being considered. Besides, the study classified the project participants based on organizations and not on the different ownership status of the projects, such as federal or state government-owned TEBP. However, the literature shows that likelihood of risk occurrence could vary due to the degree of project ownership. The information provided with respect to the most frequently occurring risk factors would enhance the performance of public TEBP. This study contributes to the existing body of knowledge on the subject within a previously unexplored context where insights were provided on the most frequently occurring risk factors on the public TEBP.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-08-30
      DOI: 10.1108/JFMPC-01-2021-0002
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Assessment of the government’s role performance in public-private
           partnership (PPP) toll road projects in Indonesia

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      Authors: Mohammad Arif Rohman
      Abstract: This study aims to investigate the government’s role in the development of toll road projects that adopt public-private partnership (PPP) schemes in Indonesia. In addition to investigating its role, this study also attempts to quantitatively assess its performance as the use of quantitative analysis in this area is still fairly limited. The analysis was developed from the perspectives of two main stakeholders involved: government and private sectors. The findings of this study are expected to help both government and private sectors to better understand the government’s role as well as its performance in PPP toll road projects in Indonesia. The data was analysed by using statistical methods. Following the identification of the government’s role in PPP toll road projects from the literature, a preliminary survey involving 12 highway construction experts was conducted to verify the initial findings from the literature review. Subsequently, the authors conducted a survey of 146 respondents from both government and private sectors. To analyse the collected data, both descriptive and inferential statistics were used, which include analysis of means, analysis of reliability, as well as independent T-test. T-test was used to examine differences in perception between the two groups. In total, 12 criteria from the literature were used to assess the government’s role and its performance in PPP toll road projects in Indonesia. Based on the analysis, the authors find that the government’s role in the development of PPP toll road projects can be considered moderate in its performance. In this respect, the author argue that, instead of focusing on meeting all the criteria, it would be better for government to focus on meeting only a number of them, which include realizing smooth land acquisition, selecting appropriate concessionaire, offering a solution to community protests over environmental issues, providing substantial government support, providing supervision, enforcing the law and eradicating corruption. The results of this study provide valuable information for international parties aiming to participate in PPP toll road projects in Indonesia, considering this country has been offering a wide opportunity for private sectors to be involved in developing infrastructure. Meanwhile, for the host government, the findings can be used as the basis for conducting improvements to attract private sectors’ involvement and to achieve more successful upcoming PPP toll road projects in Indonesia. The findings of this study might provide valuable information for the host government to evaluate its role and performance to achieve more successful PPP toll road projects in the future. Rather than focusing on all attributes, the improvements can be made by focusing only on the critical ones: those ranked high on the importance and low on its performance. In addition, this finding can also help private sectors to better understand both the role and performance of government in Indonesia as this country offers a great opportunity for infrastructure investment through PPP schemes. The findings of this study might provide valuable information for the host government to evaluate its role and performance to achieve more successful PPP toll road projects in the future. Rather than focusing on all attributes, the improvements can be made by focusing only on the critical ones: those ranked high on the importance and low on its performance. In addition, this finding can also help private sectors to better understand both the role and performance of government in Indonesia as this country offers a great opportunity for infrastructure investment through PPP schemes. Text. This paper contributes to the body of knowledge on the criteria to assess the government’s role performance in the Indonesian PPP toll road projects. Whilst there is still limited research has been conducted regarding the government’s role in the PPP toll road projects in Indonesia, this study presented the criteria of the government’s role and showed how to assess and evaluate the host government’s performance based on these criteria in a more objective approach using quantitative method. This result can be used as the basis for improvements to achieve a more successful PPP toll road project in Indonesia and might be in other similar developing countries.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-08-23
      DOI: 10.1108/JFMPC-07-2019-0065
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Lessening procurement deviations using procurement post reviews: evidence
           from Ghana

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      Authors: Emmanuel Adinyira , Kofi Agyekum , Patrick Manu , Abdul-Majeed Mahamadu , Paul Olomolaiye
      Abstract: Multilateral aid agencies generate most of their funds from taxpayers, and therefore, it is necessary to ensure that recipients or borrowers use the funds for the intended purposes. The World Bank is one of the major multilateral aid agencies that fund infrastructure projects in developing countries. Like other multilateral aid agencies, the World Bank uses oversight instruments/auditing tools to manage procurement risk on their funded projects. However, empirical insight about the effectiveness of these auditing tools is limited. This paper aims to assess the effectiveness of one of such multilateral aid agencies’ auditing tools (i.e. World Bank’s procurement post review [PPR]) in procurement risk mitigation on funded projects in a developing country context. The study is based on secondary data obtained from the World Bank PPR reports carried out in the 2014, 2015 and 2016 financial years. Five projects with the highest loan amounts and five with the lowest loan amounts for the three-year period were selected from the 24 active World Bank projects during the time of the study. A purposive sampling technique was used to select a representative sample from a list of contracts under the 10 projects. The results of the analysis showed a clear decline in the number of both major and minor deviations over the three-year period while an increase in the number of contracts with “No Deviation”. The study therefore concludes that procurement risk experienced a decline amongst the World Bank projects in Ghana where post reviews were carried out on yearly basis. The study identifies the need for more frequent PPR and makes a case for the need to investigate whether PPR is a superior auditing tool compared to the other tools.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-08-19
      DOI: 10.1108/JFMPC-05-2020-0038
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Identifying the risk factors in real estate construction projects: an
           analytical study to propose a control structure for decision-making

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      Authors: Shumank Deep , Vanita Bhoola , Saumya Verma , Udara Ranasinghe
      Abstract: Construction projects in the real estate sector are important for a nation’s economic growth. However, owing to several constraints and stereotypes, the construction industry is suffering from major capital losses. A review of recent literature revealed that risks occurring in real estate construction projects (RECPs) carried out in developing economies can be divided into four categories, i.e. financial risks, design risks, execution risks and sociopolitical risks. This study aims to identify the critical factors that lead to these risk categories and develop a control structure for RECPs. A quantitative method, i.e. a questionnaire-based survey, was used for this study. Using a random sampling technique the questionnaire was distributed to selected, highly experienced project managers. To determine whether the factors identified as part of the literature review strongly influence the categories, the factor analysis of the observations was performed. The observations made in this study lead to the identification of six critical risk causing factors, i.e. lack of efficient planning, execution constraints, external constraints, client-induced constraints, project constraints and partner experience. The observations indicated a lack of knowledge of project management, organizational culture and a claims redressal mechanism in RECPs. Also, this study recommends a blockchain-based control structure to control the occurrence of the risk causing factors identified. This study recommends a blockchain-based control structure for controlling the risks occurring.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-07-05
      DOI: 10.1108/JFMPC-03-2020-0018
      Issue No: Vol. ahead-of-print , No. ahead-of-print (2021)
       
  • Understanding the dynamics of cost overrun triggers in highway
           

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      Authors: Abba Tahir Mahmud , Stephen O. Ogunlana , W.T. Hong
      Abstract: Empirical evidence suggests that many triggers influence poor cost performance in highway projects, whereas previous studies about the cost overrun triggers stem from a positivist standpoint supported by conventional statistical techniques, thus disregarding the sophisticated interactions and overall dynamics of the triggers. This study contends for a paradigm shift in investigating and understanding cost overrun triggers by adopting a holistic perspective through the lens of system thinking. This study aims to contend for a paradigm shift in investigating and understanding cost overrun triggers by adopting a holistic perspective through the lens of system thinking. Semi-structured interviews with industry stakeholders in Nigeria were conducted buttressed by textual data from literature sources and project documents. Data analysis based on a developed data compatible coding framework and causal relations from textual data sources was used to develop a causal loop diagram depicting the interactions of the triggers which were validated by experts. The analysis of the causal loop diagrams (CLDs) allowed identification of action points used to suggest changes for improved cost-effective highway project delivery. Among the suggested interventions are ensuring the provision of adequate funding prior to contract award will result in timely delivery of projects and indeed delivering key projects at the contractual agreed budget. This can be achieved through ensuring strict adherence to the provisions of Section 4 (2) (b) of the Nigerian Public Procurement Act, 2007 which stipulates that no contract should be awarded if funds are not available from the onset. The study was limited to only highway infrastructure projects in Nigeria and as such caution must be taken before using the outcome of the study to other context within Nigeria and beyond. From a practical point of view, the causal model demonstrates that this study is capable of being used to make pragmatic decisions regarding policy leverages about improving cost performance in highway projects provision in the Nigerian highway infrastructure sector of the construction industry. Moreover, it will aid a clear understanding of the key influencing triggers of cost overrun by the relevant stakeholders within the highway sector of the industry. The hybrid-based approach applied in the development of CLDs in this study is expected to provide new insight into understanding the linkages, interactions, feedbacks and processes among the key cost overrun triggers and suggesting leverages for cost performance improvement within the philosophy of system thinking.
      Citation: Journal of Financial Management of Property and Construction
      PubDate: 2021-08-02
      DOI: 10.1108/JFMPC-07-2020-0051
      Issue No: Vol. 27 , No. 1 (2021)
       
  • Journal of Financial Management of Property and Construction

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