Search results

Climate change presents potential increased threats to the comfort and health of urban populations as a result of higher summer temperatures. This paper reviews recent research on the climate change adaptation potential of urban environments and focuses on a major conurbation, London. Recent work relating to the impact of exposure to heat on population health is also noted. Data obtained from a pilot monitoring study carried out in a subset of 36 dwellings (from a total of 110 dwellings in the overall study) across London during the summer of 2009 is then discussed. Preliminary results illustrate the need to quantify the net impacts of individual building characteristics and the location of each dwelling within the London heat island. During a hot period, more than 40% of the monitored bedrooms failed the recommended overheating criteria during the night time. There was some indication of purpose built flats being more prone to overheating. The potential use of such data as the basis of a heat-related health risk epidemiological model for London is discussed. Such a tool would help health policy makers to target the most vulnerable building types and areas.

This paper aims to analyze the impact of busy directors on bank risk. Busy directors are directors with multiple directorships and other corporate responsibilities.

First, univariate analysis is performed to see whether there are differences in governance structures of banks with busy boards and those with less‐busy boards of directors. Second, multivariate regression analysis is used with two measures of bank risk as the dependent variable to see whether busy directors impact bank risk, while controlling for other factors that may influence risk.

The paper finds that there are significant differences between banks in terms of governance structure when analyzing banks with busy boards and banks with less‐busy boards. Importantly, the study shows that bank risk is positively related to multiple board appointments of bank directors.

These results provide support for the “busyness hypothesis” as opposed to the “reputation hypothesis” and add to the understanding of whether busy directors hurt or help boards.

Results are important for regulators who seek to maintain a safe and sound banking system. Regulators can gain a better understanding of how much time and effort individual directors can contribute to a bank under examination.

This is the first study in the banking literature on multiple board appointments. It also uses a unique approach to test whether director busyness is a determinant of bank risk.

This paper aims to investigate the impact of corporate governance and other related factors on the risk-taking of Islamic banks. Risk-taking is defined according to credit risk, liquidity risk and operational risk.

The study uses the two step system generalized method of moment (2SYS-GMM) estimation technique by using a panel data set of 129 Islamic banks (IBs) from 29 countries in the Middle East, South Asia and the Southeast Asia regions covering from 2008 to 2017. Governance variables incorporated include board size, board independence, chief executive officer (CEO) power, Shariah board and audit committee, as well as other control variables.

This study provides evidence that board size and Shariah board are positively and significantly related to credit and liquidity risk. Board independence and CEO power are negative and significantly associated with credit and liquidity risk, but the audit committee has a mixed relationship with bank risk. Male CEOs take more risk compared to the female and more board meeting has an inverse relationship with Islamic banks risk. Bank size, however, does not influence the level of risk in Islamic banks, but leverage has an inverse relationship with bank risk.

The present study sheds light on the risk-taking behaviour of the board of IBs, particularly the board independence and CEO power reducing the level of risk in IBs thereby contributing to the agency theory. Therefore, regulators and policymakers can use the findings of this study to strengthen the internal corporate governance mechanism to protect IBs at a time of financial distress. Moreover, it increases the trust of the shareholders and stakeholders in the effectiveness of governance reforms that have been pursued to reap long-term benefits.

To the best of the knowledge, this research is preliminary in examining the board behaviour on risk-taking of IBs from four different regions. The results are robust and suggest that the board of directors mitigate the level of risk in IBs.

The objective is to provide a quantitative insight on the dynamic nature of insolation on the building perimeter according to location, season and orientation. Such understanding is necessary for deciding on solar control strategies in diverse climatic environments, from low to high availability of insolation.

This study explores the seasonal changes of solar irradiation on building façades of various orientations at five locations with diverse climates (Reykjavík, London, Athens, Riyadh, Lagos). Solar data collected from the European PVGIS database is used to study the monthly distribution of global solar radiation incident on building façades at cardinal and ordinal orientations, as well as the proportions of its components.

The results illuminate the effects of the various factors on insolation. Among others: In all locations, horizontal surfaces receive more annual irradiation than any façade. In summer, east/west facades receive more radiation than south, hence solar protection on those directions is more important than on south. The beam fraction varies seasonally on south and north facades, but not so on east/west. Local atmospheric conditions can offset the importance of latitude on insolation levels and composition.

The paper utilises commonly available data to correlate insolation values and types under different factors across the globe, offering a better understanding on insolation for the design of greener buildings.

The establishment of a currency union is a topical issue in the West African Monetary Zone (WAMZ). The subject of currency union formation needs to be reassessed in light of the recent efforts towards the economic integration of west African countries. This study employs the Markov Switching Model (MSM) to determine whether a currency union in WAMZ is feasible. The study analyzes the regime switching behavior in WAMZ countries’ foreign exchange markets before and after the formation of the union. The contribution of this study is two-fold. First, the study accounts for the success or otherwise of the latest efforts to integrate the fiscal and monetary strategies in the zone. Secondly, the study contributes to the literature on the currency union literature in WAMZ by using Markov Switching Model (MSM) to generate novel results. The results of the study revealed that prior to the WAMZ formation, the real exchange rates of member states were more divergent. In contrast, a growing but marginal, convergence was observed after the formation of the zone amongst four (Nigeria, Sierra Leone, Gambia, and Liberia) of the six countries. The authors conclude that while WAMZ is on course for establishing a currency union, their monetary authorities must work together, particularly with Ghana and Liberia, to synchronize their policy efforts, and policy makers must implement policies to strengthen harmonious trade interactions.

The purpose of this study is to examine the contribution of academic and professional institutions in promoting the awareness and knowledge of Islamic banking and finance in Nigeria.

The data were generated through a documentary research method by examining the Benchmark Minimum Academic Standards (BMAS) for Nigerian universities and Nigerian university curricula for the relevant undergraduate programs, as well as examination syllabi and training brochures for the relevant professional associations.

The study found that universities do not promote significantly the awareness and knowledge of Islamic banking and finance. Similarly, the relevant professional associations through their examinations and training programs contribute little or nothing to the promotion of awareness and knowledge.

This study solely relied upon documentary evidence upon which the findings were based. In addition, for academic institutions, only undergraduate BMAS and curricula were examined.

There should be collaborations between the National University Commission of Nigeria, relevant Islamic and non-Islamic professional bodies and Nigerian Universities to ensure that courses (subjects) that could promote the awareness and knowledge of Islamic banking and finance are fully integrated into academic and professional curricula and training programs.

The integration of an adequate number of relevant courses/topics into academic curricula and professional institution examination syllabi and their Mandatory Continuing Professional Development programs would greatly contribute to the production of competent and skillful employees to work for the growth and development of the Islamic banking and finance industry.

This study provides better ways of ensuring that knowledgeable and qualified employees are produced to work for the sustainability of the global Islamic banking and finance industry.

The purpose of this paper is to identify the board attributes that significantly increase firm risk. The study aims to find whether board size, percentage of non-executive directors, women on the board, a powerful chief executive officer, equity ownership amongst executive board directors and institutional investor ownership are associated with firm risk. This is the first study that examines which board attributes increase firm risk using a UK-based sample.

This empirical study collected secondary data from Bloomberg and Morningstar databases. The data sample is an unbalanced panel of 260 companies’ secondary data on FTSE 350 index in the UK, from 2005 to 2010. The data were statistically analysed using STATA.

The study establishes the board attributes that were significantly related to firm risk. The results show that a board which can increase firm risk is one that is small in size, has high equity ownership amongst executive board directors and has high institutional investor ownership.

The governance culture and regulatory system in the UK is different from other countries. As the data are a UK-based sample, the results can lack generalisability.

The results are useful for investors who invest in large firms, to have the knowledge about the board attributes that can increase firm risk. Regulators can also use the results to strengthen regulatory guidelines.

This study fills the gap in knowledge in UK governance literature on the board attributes that can increase firm risk.

While the adversarial nature of precast concrete (PC) building construction is frequently cited in the PC building construction press, only a few researchers have investigated construction supply chain management within the construction industry. Due to the interdisciplinary transportation environment, which inevitably results in disruption, the uses of construction supply chain and recovery from construction supply chain risk must be a subject of real interest, yet transportation management research in this area is scarce.

The purpose of this study is to discuss the weakness in system approaches and their application for managing precast concrete building in the context of construction supply chain practice and how to overcome it. As a precursor to this paper, the paper reviews current construction supply chain management occurrence on PC building construction and explores the hybrid intelligent vehicle tools and techniques currently being used on such management. This paper also presents the new hybrid intelligent vehicle-based approach to manage construction supply chain risk and reduce associated tension on PC building construction schemes.

The findings reveal the need for more sophisticated construction supply chain management solutions which accord with the needs of PC building construction schemes.

The paper concludes by presenting a research framework for developing such a system in the future.

The board structure (BS) is pivotal in modern corporate governance (CG). This study aims to investigate BS variables (BSIZE, BIND and chief executive officer [CEO] duality) and their correlation with risk-taking behavior indicators, enriching the understanding of how CG shapes financial institutions’ (FIs) decision-making in Pakistan.

By scrutinizing data from 67 financial entities listed on the Stock Exchange of Pakistan spanning from 2011 to 2022 through panel data regression techniques, the research emphasizes that BS holds a substantial influence over the risk tendencies exhibited by these firms.

Key findings suggest that board size has a positive influence, aligned with previous CG research. Smaller boards perform better and avoid excessive risk-taking, contrasting some negative relationship claims. More independent directors are recommended to curtail risk and financial disruption. Holding both CEO and chair roles reduces risk exposure, resonating with reputational and employment risk theory. It is essential to recognize that BS’s impact on risk-taking is nuanced and context-dependent.

Policymakers, scholars, practitioners and investors working in the market for financial companies might greatly benefit from the empirical findings of this study. Imposing mandates on FIs to uphold adequate capital reserves functions as a safeguard against unforeseen losses, thereby diminishing the probability of unwarranted risk-taking.

Prior studies in this domain predominantly focus on nonfinancial sectors. In addition, existing research often explores the relationship between BS and firm risk-taking solely within the banking sector, overlooking other FIs. This study contributes by using a comprehensive data set encompassing all types of FIs, thus extending the existing literature.

This paper examines the nexus between input credit access, farm performance and food nutrition in Ghana.

Using a random sample of 239 smallholder rice farmers, we utilized the endogenous switching regression model to address the self-selection issue and estimate the impact of input credit access on farm performance and food nutrition and further analyze the heterogenous impacts.

The results show that socioeconomic (age, education, sex, off-farm activity and farm size), institutional (extension contact and farmer-based organizations) characteristics and location variable significantly influence the decision to access input credit. After adjusting for both observed and unobserved factors, our findings reveal that access to input credit significantly improves rice yield, net profit and food nutrition of smallholder rice farmers in Ghana. Furthermore, results reveal that the effects of input credit access on rice yield, net profit and food nutrition are heterogeneous and subject to farmers’ propensity to access input credit. Specifically, we find that those with a higher inclination to access input credit experience larger positive impacts, indicating a positive selection process.

Access to agricultural input credit is essential for the adoption of modern and climate-smart technologies in agricultural production. However, the persistent lack of access to input credit hampers agricultural productivity and constrains investment in farm input resources in Sub-Saharan Africa. Our study calls for proper targeting of input credit interventions to incentivize the uptake of farm input credit such as improved seeds and fertilizers to improve overall crop production and achieve food security.

The study utilized rigorous econometric methods to analyze the impact of input credit access on smallholder rice farmers' farm performance and food nutrition in Ghana. The findings provide valuable guidance for policymakers and future research on agricultural development in Ghana.