Search results

The success of public–private partnership (PPP) projects is highly correlated to the successful management of risks encountered during the operation phase. PPP projects are especially exposed to risk due to the long operation period over which revenues need to be generated to recoup substantial initial investment and operational running costs. Despite the critical impact of risk exposure, limited research has been specifically undertaken on the matter of operational risk management. This study seeks to address this oversight by identifying and evaluating operational risk management strategies for PPPs.

Vulnerability theory is the theoretical lens used, with context drawn from Chinese PPP projects. Based on the data collected from expert interviews and questionnaires, 28 operational risk management strategies are identified. A fuzzy synthetic method is employed to analyze the effectiveness of the 28 strategies.

The findings reveal that providing an exit mechanism clause into the contract, establishing a comprehensive performance evaluation mechanism and developing a clear compensation mechanism are the top three effective strategies. This study also reveals that risk mitigation approaches that reduce vulnerability prove more effective than attempts to reduce external threats. Specifically, strategies aimed at managing contract, political, technical and financial risk are the most effective.

The findings of this study extend current knowledge regarding the risk management of PPP projects. They also offer a reference by which practitioners may select effective operational risk management pathways and thereby, galvanize the sustainable development of PPPs.

Political risk has been identified as a major impediment to the success of foreign invested projects, in developing countries. Infrastructure projects are especially sensitive to host-country political climates. Governance in emerging economies can be unstable, which adversely impacts infrastructure projects, given their high capital-intensity, long operational periods and high asset specificity. While the detrimental impact of political risk is well documented, the mitigation of such impacts on infrastructure projects remains largely unexamined. This study, therefore, addresses this by exploring the available identified political risk management (PRM) strategies based on resilience theory and evaluating their effectiveness.

A mixed-method approach was employed to identify PRM strategies. Firstly, a comprehensive literature review identified 40 potential PRM strategies. However, the applicability of those 40 strategies was uncertain due to the scarcity of PRM studies. Thus, expert interviews, drawing on the insights of Chinese infrastructure industry professionals with experience in FII, were applied to review the identified strategies. This process reduced the pool of applicable strategies to 34. Subsequently, 356 questionnaires were sent out to investors from China, Australia and Singapore, with 218 valid responses returned. Based on the data collected from the surveys, statistical analysis was used to evaluate and classify applicable PRM strategies.

Results reveal the most effective top five strategies for offsetting the detrimental effects of political risk on foreign infrastructure investment to be: (1) selection of suitable markets and projects; (2) maintaining good relationship with government; (3) purchasing political insurance; (4) utilizing capable contractors from both host country and home country; and (5) adopting an appropriate entry mode. The 34 strategies were further consolidated into four meta-strategies through factor analysis, resulting in the formulation of a strategy selection matrix.

The findings of this study offer a rational means by which infrastructure investment practitioners considering projects in developing countries, may arrive at an optimal political risk mitigation strategy. The findings also offer government of host countries directives to improving the political environment in order to attract foreign investment flows into local infrastructure projects.

This paper aims to elucidate the pivotal role of Digital Twin (DT) technology in addressing the adverse impacts of Urban Heat Island (UHI) and consolidate the fragmented knowledge of DT technology in urban environments by identifying applied actions, proposing an approach and revealing challenges for tackling UHI effects.

Using a systematic literature review, 24 materials were retrieved from scholarly databases to provide a comprehensive understanding of DT technology and propose a conceptual framework for mitigating UHI effects.

The results revealed three major study categories within the DT and UHI domains: (1) DT-enabled actions for urban greenery optimisation, (2) DT implementation for enhancing resilience in urban planning and (3) increasing the fidelity level of DT for addressing UHI effects. Additionally, this paper introduces REFLECT, a conceptual DT-enabled framework consisting of seven layers: Retrieve, Establish, Facilitate, Lump, Examine, Cognition and Take. The framework proposes developing a systems-based model with identifiable scopes, strategies and factors through a multilayered platform, specifying model input, process and output towards mitigating UHI effects.

This paper contributes to the discourse on sustainable urban development by highlighting the challenges associated with DT technology in mitigating UHI. It introduces a conceptual framework to demonstrate applications and directions for developing innovative solutions to unlock the full potential of DT technology in mitigating UHI effects.

In daily marketing practices, when launching and promoting new products, marketers often induce consumers’ awe of nature via exposing consumers to beautiful natural scenes. Does this marketing practice really facilitate consumers’ subsequent new product choice? Existing awe research and new product research have not examined this issue yet. The purpose of this study is to study whether the marketing practice of awe induction faciliates consumers' new product choice.

This paper examines the double-edged sword effect of different types of awe on consumers’ adoption of new products. The authors conducted five experiments using various product categories (soft drinks, juices, cookies and watches), various many sources of sample types (college student samples and adult samples) and various manipulation of awe. The authors also focused on both new products with incongruent visual appearance (Experiment 1a, Experiment 1c, Experiment 2 and Experiment 3) and new products with incongruent conceptual attributes (Experiment 1b) to enhance the rigor of the experiments and the generalizability of the conclusions.

The authors find that when consumers perceive awe of threatening natural phenomena, they decrease their choice of moderately incongruent new products (positive effect), while when consumers perceive awe of beautiful natural phenomena, they increase their choice of moderately incongruent new products (negative effect). Also, this paper finds that the emergence of the positive of the double-edged sword effect is driven by the sequential mediation of the need for accommodation and openness to new experiences, while the emergence of the negative of the double-edged sword effect is driven by the uncertainty reduction motive.

This research has important theoretical implications. First, this paper advances existing awe research by reconciling the inconsistent findings in existing awe research by categorizing awe of nature. Second, this paper advances existing research on new products and moderate incongruity effects by exploring when the moderate incongruity effect exists and when it reverses in the new products field through the classification of awe of nature.

This study has rich implications for marketing management. First, marketers can facilitate consumers’ adoption of moderate incongruent new product via priming consumers’ awe of beautiful nature. Second, this paper suggests that marketers and brand managers should carefully choose the timing of new product launches to avoid inducing consumer awe of threatening nature (e.g. immediately after a severe natural disaster). Finally, the results of Experiment 3 in this paper suggest that when marketers want to launch new products with moderate incongruity, they need to target consumers with high cognitive flexibility.

This paper discusses how different types of awe affect consumers’ attitudes and choice of moderately new products. This research question has its social value in helping marketers, companies, consumers and society know the power of awe of nature on the behaviors and decision-making.

To the best of the author’s knowledge, this paper is among the first ones to examine the double-edged sword effect of different types of awe of nature on consumers’ new product adoption.

Two essential components, a robust information technology (IT) infrastructure and faculty training in student-centred pedagogies and technology usage, are necessary for effective blended learning designs. Many universities invest in IT infrastructure such as bandwidth, high-end subscriptions, servers, SMART boards, projectors, Wi-Fi enhancement, learning management systems, IT support, and other tools. Faculty training is crucial and includes instruction on using the new infrastructure and adopting pedagogical methods associated with blended learning. This study’s primary objective is to explore the challenges and pedagogical transformation towards blended learning designs in India. The research also investigates the impact of social context and emotional support on blended learning. It examines the mediating role of technostress among teachers between hybrid mode transformation and blended learning. The study’s results will provide critical insights for academic institutions’ higher management to encourage the adoption of learning designs and blended techniques by their employees during unforeseen events in the future, utilizing effective leadership and management skills. The study aims to assist academic institutions in meeting the demand for experiential learning in the classroom by incorporating blended learning. It acts as a bridge between industry expectations and academic outcomes. The study uniquely addresses the need for increased student engagement in the classroom.

This paper aims to explore the realm of gig work and the gig economy in Romania in an attempt to shed light on the mechanisms of this type of work and the reasons and benefits of engaging in gig-related activities.Considering the low conceptual consensus on gig work, the authors aim to explore how participants in this study define and refer to gig work, thus helping to contribute to the current conceptualization and characterizations of gig work and the gig economy. Among the wide range of services encountered within the gig economy, this research focuses on three categories of tasks, as defined within COLLEEM 2018 questionnaire (see Pesole et al., 2018), namely, online creative and multimedia work, online sales and marketing support and online software development and technology work.

Based on semistructured interviews with people working in the gig economy in Romania, the authors look to understand the meaning given to gig work and its features. The authors tackle how participants in this study perceive themselves and their work. The authors also look into perceived similarities and differences with other types of independent work.

In this paper, findings are organized into two main sections. The first section showcases perceptions about working in the gig economy, including how people involved with this type of work are describing them and their activity and exploring financial insecurities in connection with the independent/gig work. The second section highlights the mechanisms of gig work on digital labor platforms, developing means and ways of reputation-building and their impact on financial earnings.

This research aims to contribute to a better understanding of the environment and needs of gig workers. Although gig economy and online work are widely covered by field literature, knowledge about the experiences and perceptions of gig workers in emerging markets has more to gain by exploring European Union developing markets.

This paper analyzes the effect of institutional quality and economic freedom on investment and economic growth in sub-Saharan Africa (SSA).

Focusing on a panel of 27 countries, the study employed the panel fixed and random effect models to analyze data spanning from 2005 to 2018. The study also employed the Wu–Hausman test to determine if the endogeneity problem exists in the model.

The findings of the study show that individually, an improvement in economic freedom stimulates economic growth while the improvement in institutional quality is effective in spurring investment. However, the interaction effect of improvement in institutional quality and economic freedom is the stimulation of both investment and economic growth. The findings are robust to alternative model specifications.

The study implies that for SSA countries to effectively achieve higher investment and economic growth outcomes, there is the need to simultaneously strengthen institutional quality and improve economic freedom. Focusing on either of the factors without the other leads to less desirable growth and investment outcomes.

The study examined the combined influence of institutional quality and economic freedom on investment and growth in SSA. To the best of the authors’ knowledge, no study has investigated this in the context of SSA.

The chapter discussed the comprehensive integration of whole life cycle (WLC) principles in construction, mainly focusing on its application in stealth construction. It outlined the challenges of implementing WLC practices, emphasising the need for proactive planning and meticulous execution. The study highlighted key aspects of the WLC in stealth construction, including considerations for building design, energy transmission, visibility management, and security countermeasures. Additionally, it underscores the importance of addressing environmental protection, health and safety, project delivery duration, economy, and aesthetics throughout the construction process to ensure the development of resilient, sustainable, and visually appealing structures that meet the needs of present and future generations.

Given resource constraints such as time and staffing, hotels cannot respond to all negative online reviews (NORs). Therefore, this study investigates (1) what types of NORs hotels should prioritize responding; and (2) what response strategies are more effective in handling different types of NORs to minimize the negative ramifications.

Four experiments in the context of hospitability were used to test the hypotheses.

Our findings show that NORs with implicit conclusions (e.g. “I do not believe that is a good choice, you know what I mean.”) are more dissuasive than NORs with explicit ones (e.g. “Do not buy it.”) because the former NORs are perceived as more objective than the latter NORs. More importantly, our results show that firms do not need to respond to explicit NORs. When responding to implicit NORs, firms should prioritize those related to service failures caused by external (e.g. weather, technological misfunction) rather than internal (e.g. poor management, employee skills) factors.

Our studies focus on the language styles of Chinese NORs, and future research should investigate how language styles influence dissuasion in other languages.

Our results show that NORs with implicit conclusions negatively impact consumer attitude and thus hurt performance more significantly than those with explicit conclusions. Therefore, firms should allocate limited staffing and resources to NORs with implicit conclusions. When responding to implicit NORs, firms should select NORs that can be attributed to external factors.

Our findings shed light on the importance of the language styles of NORs and provide marketers with insights into how to handle NORs. Our results reveal that consumers perceive higher objectivity of NORs when these reviews are implicit than when they are explicit. Furthermore, this study contributes to the online review literature by suggesting that firms should tailor their response strategies for NORs based on the reviewers’ language styles.

The purpose of this study is to examine the effect of human capital investment (HCI) on corporate social responsibility (CSR) practices in SMEs. Analysing a sample of 1,136 firms (729 FBs and 407 NFBs) and using a PLS-PM methodology, our results support that HCI has a favourable impact on CSR practices in SMEs and that family business (FB) status plays a moderating role on these relationships.

We estimate the proposed model using partial least squares path modelling (PLS-PM), a variance-based structural equation (SEM) method, using SmartPLS 3.3 software. PLS simultaneously evaluates the reliability and validity of the variables (external model) and the estimation of the trajectories between these constructs (internal model). The PLS-PM technique is appropriate in this research because: 1. the model makes use of type A composites; 2. the proposed research model has some complexity since we pay attention to the existence of moderating effects; and 3. no specific distribution is required in PLS indicators.

The main findings of this study are: (1) HCI increases CSR practices in the SME context and (2) FB status exerts a positive influence on the relationship between HCI and CSR practices.

This study, grounded in RBV theory and the concept of “familiness,” uses employees' education and training to measure HCI in FBs. While other research focuses on employee competence and attitude to define HCI, future studies should explore all these elements to better understand their impact on CSR practices in SMEs. Additionally, factors like regulation, organisational culture and personal traits may influence the relationship between HCI and CSR practices, suggesting the need for further research. Future studies could also examine family SMEs by considering aspects such as family management or governance as moderating variables, contributing to the discussion on FB heterogeneity. Causes of heterogeneity in FBs include goals, governance structures and resources, supporting recent calls for a deeper understanding of these variations, particularly in how HCI affects CSR practices.

This study also highlights several practical contributions. Today’s complex business environment requires organisations to focus on a wide range of stakeholders to remain sustainable. Organisations must understand how HCI influences CSR practices, specifically how education and training for both employees and managers lead to greater sustainable practices. Therefore, awareness and training for family employees, CEOs and external staff are essential for the proper development of CSR practices. Increased education or training programs by public and private institutions or incentive schemes could help promote these practices within firms. Our results further suggest that governments and other organisations interested in business development should not assume that HCI is universally beneficial for CSR practices in all firms. Specifically, the study shows that HCI has a positive effect on different dimensions of CSR in SMEs, and this influence is even more pronounced in family SMEs. Therefore, government agencies and employers' associations should consider the impact of these factors—HCI and FB status—when designing and implementing more effective policies.

This study makes several theoretical contributions. It explores the influence of HCI on multiple dimensions of CSR, focusing on individual-level drivers like education and training for managers and employees. The findings reveal that HCI positively affects environmental, labour and social CSR practices, especially in SMEs. The study also highlights the unique role of FBs, showing that FB status strengthens the relationship between HCI and CSR due to their focus on long-term goals and community well-being. This research addresses gaps in understanding the heterogeneity of CSR practices between FBs and non-family businesses (NFBs).

This article is original, unpublished and all sources and contributions have been properly acknowledged.