DO CEOS WITH SHARE PLEDGE SUPPRESS THE FIRMS’ INNOVATION?

It is a common phenomenon for corporate insiders to pledge their stock as collateral for personal loans in China. Using Chinese data, this paper examines the effects of CEOs’ share pledge on the firms’ future innovation output. Evidence suggests that the existence of CEOs with share pledge has a significantly negative effect on firms’ innovation output. The baseline results are consistent with a variety of robust tests. Furthermore, we propose the effect of CEOs’ share pledge works on the corporate innovation through the market value management channel. Finally, we find that the good corporate governance is a possible channel to relieve the agency cost on CEOs.

Value management implementation barriers for sustainable building: a bibliometric analysis and partial least square structural equation modeling

Purpose The purpose of this paper is to examine the relationship between overcoming the value management (VM) implementation barriers and VM implementation in the Egyptian building sector. Design/methodology/approach A critical review of the literature on VM was used to through bibliometric analysis has been conducted to highlight the studies’ gap and establish the VM barriers. These obstacles were then contextually transformed via a semi-structured interview and a pilot study, and subsequently organized in the form of a theoretical model. The primary data was collected from 335 building stakeholders in Egypt through the administration of questionnaire surveys. Consequently, structural equation models of partial least squares were applied to statistically assess the final model of VM barriers. Findings The bibliometric analysis shows that there is an inadequate study on VM implementation barriers in the Egyptian construction industry and insufficient studies on implementing VM in developing countries. Results obtained from the proposed model showed that overcoming the VM barriers has a major connection with successful VM implementation. This is indicated with the value of ß = 0.743, which is necessary when the firm is overcoming 1 unit of VM barriers. Originality/value This study fills the knowledge gap by identifying and emphasizing the critical obstacles to VM implementation.

The Status of Value Management Practice on Construction Projects in Uganda and Strategies for Improvement

In many developing countries, value management (VM) is not applied widely and systematically in construction projects. This limits the achievement of value for money. The objectives of this study were to describe the state of VM practice in Uganda and suggest strategies for improvement. Based on the extant literature, a conceptual framework depicting VM practice in the lifecycle of construction projects was developed. A questionnaire containing both nominal and ordinal measures was distributed to a sample of Ugandan construction industry professionals. During data analysis, the distributions of nominal variables were expressed in terms of percentages. A univariate analysis of the ordinal variables was undertaken using measures of central tendency (mean) and dispersion (standard deviation). A bivariate analysis of the ordinal variables was undertaken using Friedman, Fisher's exact and Mann-Whitney U tests. The application of VM in Uganda was rudimentary, inconsistent and misguided, based on the reports of the respondents. This finding constitutes the first major contribution of this work to knowledge. It also led to the idea that the practice of VM in Uganda can be improved by raising awareness and the standard for VM application. Ten strategies for these two purposes have been put forward in this article. These strategies constitute the second major contribution to knowledge.

KNOWLEDGE MANAGEMENT PROCESS IMPLEMENTATION IN PRIVATE FINANCE INITIATIVE PROJECT IN MALAYSIA

PFI involved a project with long-term relationships at various stages from pre-contract stage to contractual stage and in use stage which also include maintenance stage. KM process is one of the elements to ensure the success of the KM system. In the PFI project, the KM process also needs to be checked whether it is applied in the various stage of the pre-contract stages. Questionnaires had been distributed to the parties involved at the pre-contract stage. The results are then analyse using the Relative Important Index (RII) to identify the ranking of KM usage in various stages of the pre-contract stage. According to the analysis, some of the stages in the pre-contract process of the PFI are not fully implemented in the KM process. For knowledge acquisition and storage practise, the high usage of the process is at the conduct of value management, submission to cabinet and access, evaluation, and approval. The next KM process which is capturing and storing, the process evaluation, negotiation and recommend are the activities at the higher level practising these KM processes. At next KM process which is re-using and sharing are Access and approval by the ministry, evaluation, negotiate and recommend practise more on this KM process.

Assessment of the Management Tools of Electric Systems in Developing Countries

This article assesses the management tools of electric systems in developing countries. To promote the nuclear energy as an alternative resource in developing countries, the International Atomic Energy Agency (I.A.E.A.) has encouraged the development of a decision-making tool which optimizes operational activities in electric systems. Since 1982, most developing countries use that tool or a derivative one; recurrent management difficulties are encountered despite the numerous studies and the efforts to enhance the management performances. Activities are the main levers in the management of electric systems. They are set to improve the performances which translate the efficiencies. In dealing with the difficulties, none of the previous studies has considered the tool assessment. Monte Carlo or probabilistic or derating simulation methods are used in the tool Implementation; simulations are only relevant if models are realistic and the systems properly analysed. We show in this paper indirectly from the WASP notebook guide A (I.A.E.A.) 1984 and directly from the evolution of electrical system’s characteristics that the electric systems models are not suitable in developing countries. An unrealistic model stands for a system significantly different from the actual one; the differences lead to reference quantity value management difficulties and to the impossibility to set up the infinitesimal evolution responsible for the overall behaviour of the system and underlies the implementation of the tool. The article puts the constraints and associated activities at the centre of electrical system management, it opens prospects for efficiency management with a significant impact on upcoming electric systems.

Assessment of the Management Tools of Electric Systems in Developing Countries

This article assesses the management tools of electric systems in developing countries. To promote the nuclear energy as an alternative resource in developing countries, the International Atomic Energy Agency (I.A.E.A.) has encouraged the development of a decision-making tool which optimizes operational activities in electric systems. Since 1982, most developing countries use that tool or a derivative one; recurrent management difficulties are encountered despite the numerous studies and the efforts to enhance the management performances. Activities are the main levers in the management of electric systems. They are set to improve the performances which translate the efficiencies. In dealing with the difficulties, none of the previous studies has considered the tool assessment. Monte Carlo or probabilistic or derating simulation methods are used in the tool Implementation; simulations are only relevant if models are realistic and the systems properly analysed. We show in this paper indirectly from the WASP notebook guide A (I.A.E.A.) 1984 and directly from the evolution of electrical system’s characteristics that the electric systems models are not suitable in developing countries. An unrealistic model stands for a system significantly different from the actual one; the differences lead to reference quantity value management difficulties and to the impossibility to set up the infinitesimal evolution responsible for the overall behaviour of the system and underlies the implementation of the tool. The article puts the constraints and associated activities at the centre of electrical system management, it opens prospects for efficiency management with a significant impact on upcoming electric systems.

Empowering Criteria for Effective Adaptive Reuse of Heritage Buildings in Egypt

This study identifies a list of effective criteria for the adaptive reuse of heritage buildings in Egypt. Adaptive reuse is one of the most important conservation strategies. The qualitative nature of this approach and its reliance on many diverse and often conflicting heritage factors and values has made decision-making complex, difficult, and fragmentarily supported in a way within the framework of sustainability. The research examines the factors influencing the adaptive reuse of buildings to determine effective and influencing criteria in Egypt for changing resistant perspectives. Criteria from previous studies were reviewed and evaluated for their potential use through a questionnaire tool targeting professional and non-professional, then analyzed by the SPSS statistics program. The results showed five empowering criteria for effective buildings adaptability in Egypt. Based on the analysis for principal components, identified criteria are grouped into seven principal components; heritage value management, integration with the demand of development, environment adaptivity, environmental performance and sustainability, public intervention, adaptation Plan, and financial and investment. The identified empowering criteria and principal factors are considered as a reference for stakeholders and governments to get a clearer vision of adaptive reuse to achieve better and more sustainable planning, and management.