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Article
Publication date: 23 August 2022

Yixi Zhang, Bee Lan Oo and Benson Teck-Heng Lim

Contractors of different scales, operating in different construction industries of varying institutional and economic settings, have different considerations when making bid or…

230

Abstract

Purpose

Contractors of different scales, operating in different construction industries of varying institutional and economic settings, have different considerations when making bid or no-bid and mark-up decisions. Focusing on the large and medium-sized contractors in the Jilin province, China, the purpose of this study is to examine important factors affecting their decision to bid (d2b) and mark-up decisions and investigate differences between large and medium-sized contractors in evaluating the importance of the various factors affecting their d2b and mark-up decisions.

Design/methodology/approach

This study used a survey design for timely data collection from a large population. Contractors’ bidding attitudes was collected using an online survey questionnaire with a list of 40 key factors. Statistical analytical methods were applied for comparing the two groups of contractors.

Findings

The results of this study indicate that factors related to client conditions are most critical for both large and medium-sized contractors in their d2b and mark-up decisions. The results also show statistically significant differences between the two groups of contractors on a subset of factors affecting their d2b and mark-up decisions. The large contractors have placed more emphasis on projects' potential financial and strategic benefits. Another notable finding is that both groups of contractors have placed great emphasise on “government legislations” in their d2b and mark-up decisions.

Research limitations/implications

These findings should be interpreted in consideration of several limitations. Firstly, the sample size is relatively small, and the focus was on a single province in the China construction industry. Next, this study only explores differences between large and medium-sized contractors in evaluating the importance of the various factors affecting their d2b and mark-up decisions.

Practical implications

Contractors could refer list of critical factors in competing for jobs in Jilin province or other provinces of similar institutional and economic settings. Construction clients, on the other hand, should consider the list of critical factors in the formulation of their competitive tendering procedures, thus enhancing the efficiency in their procurement of construction services.

Originality/value

Research on contractors’ bidding decision-making in the context of Chinese construction industry remains scarce; the research findings have implications for the industry stakeholders.

Details

Construction Innovation , vol. 23 no. 5
Type: Research Article
ISSN: 1471-4175

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Book part
Publication date: 10 December 2023

Ted Moser, Charlotte Bloom and Omar Akhtar

Abstract

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Winning Through Platforms: How to Succeed When Every Competitor Has One
Type: Book
ISBN: 978-1-80455-298-8

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Article
Publication date: 1 August 2019

Zhenhua Luo, Yixi Chen, Kang Cen, Haize Pan, Mengfan Zhong and Jian He

In recent years, to solve the contradiction between energy supply and demand, the Chinese Government has vigorously promoted shale gas development. With the rapid development of…

289

Abstract

Purpose

In recent years, to solve the contradiction between energy supply and demand, the Chinese Government has vigorously promoted shale gas development. With the rapid development of the shale gas industry, the environmental impact problems have become increasingly serious. Therefore, it is of great significance to carry out a comprehensive environmental impact assessment of shale gas development. This study aims to provide a theoretical basis for enterprises to make development decisions on shale gas projects by constructing a model of comprehensive environmental impact assessment for shale gas development.

Design/methodology/approach

In this paper, the comprehensive environmental impact factors of shale gas development are analyzed from the two aspects of the natural environment and macro environment, and the index system of comprehensive environmental impact assessment for shale gas development including 7 secondary indicators and 24 tertiary indicators is constructed. Owing to the fact that qualitative indicators are difficult to quantify in the evaluation process, the method of intuitionistic fuzzy analytic hierarchy process (IFAHP) is adopted for evaluation. This method (IFAHP) can delicately describe the hesitancy degree of the decision-makers in the process of assigning a weight to the indicators, and make the weight assignment of each index more accurate. Furthermore, this method overcomes the shortcomings of the conventional methods, such as the complexity of calculation and the large amount of calculation.

Findings

The evaluation model is applied to a shale gas platform drilling project in Southwest China. Based on the ratings from 13 experts, the comprehensive environmental impact assessment grade of this project is good, indicating that the shale gas development project is feasible. The result is basically in line with the actual situation.

Originality/value

Based on the consideration of the natural environmental impacts of shale gas development, this paper also has considered the macro environmental impact of shale gas development, and has established the index system of comprehensive environmental impact assessment for shale gas development from the two aspects of the natural environment and macro environment. To overcome such difficulties as incomplete evaluation by decision-makers, cumbersome calculation process and a large amount of calculation, this paper has adopted the method of IFAHP to evaluate and has established a comprehensive environmental impact assessment model for shale gas development based on IFAHP.

Details

Journal of Engineering, Design and Technology , vol. 18 no. 1
Type: Research Article
ISSN: 1726-0531

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Article
Publication date: 28 August 2024

Yixi Ning, Bill Hu and Zhi Xu

This paper studies the relationship between CEO pay-performance sensitivity and CEO pay for luck as well as the asymmetric benchmarking of CEO pay in which good luck is rewarded…

65

Abstract

Purpose

This paper studies the relationship between CEO pay-performance sensitivity and CEO pay for luck as well as the asymmetric benchmarking of CEO pay in which good luck is rewarded but bad luck is not penalized symmetrically. We further explore the impact of the regulatory changes on executive compensation taking effect in the 2000s on CEO pay for luck and asymmetry.

Design/methodology/approach

In this study, we examine the relationship between CEO pay-performance sensitivity and CEO pay for luck and the asymmetric benchmarking of CEO compensation. The sample consists of DJIA component companies over a 71-year period from 1950 to 2020. CEO pay-performance sensitivity is measured by both delta and Jensen-Murphy pay-performance sensitivity.

Findings

We find that an increase in CEO pay-performance sensitivity as measured by both delta and Jensen-Murphy pay-performance sensitivity leads to an increase in the degree of CEO pay for luck but tends to reduce the level of CEO pay for luck asymmetry. In addition, we find that the major pay-related regulatory changes in recent years have mitigated the degree of CEO pay for luck and pay asymmetry, in which CEO pay structure and the associated CEO pay-performance sensitivity are major mechanisms through which the regulatory changes take effect.

Research limitations/implications

Our findings provide empirical evidence supporting the argument that both optimal contracting and rent extraction should be considered as important determinants of CEO compensation.

Practical implications

When a firm designs the pay packages for its CEO to align CEO wealth to firm performance, CEO pay-performance sensitivity is expected to improve. However, the improved CEO PPS can also lead to an increased CEO pay for non-performance (Luck), which is an undesired outcome from the shareholder view. Therefore, a firm should thoroughly consider various advantages and disadvantages when compensating its top executives. Third, pay-related regulations have indeed achieved some intended outcomes such as the diminished pay for luck and asymmetry, but they also exacerbated the positive relationship between CEO pay-performance sensitivity and the asymmetric benchmarking of CEO pay. It seems that executive pay-related regulations cannot achieve perfect outcomes without side effects. Continuous reforms and regulations on corporate governance should be a dynamic process under various changing situations.

Originality/value

This study contributes to the literature on executive pay for luck and asymmetry in several ways. First, our study is among the few studies empirically testing the relationship between CEO pay-performance sensitivity and pay for luck and asymmetry. We find that CEO pay-performance sensitivity tends to increase the degree of CEO pay for luck but reduce the level of asymmetric benchmarking of CEO pay. These findings partly support the rent extraction theory grounded on the managerial power hypothesis and partly support the optimal contracting theory. Our findings confirm that the optimal contracting theory and the rent extraction theory are both important for explaining the practices and historical trends of CEO compensation.

Details

Managerial Finance, vol. 50 no. 11
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 6 April 2022

Fung Chan

The purpose of this paper is to analyze the strategies employed by the pro-Beijing and pro-democracy camps in the proportional representation system which was used to universally…

122

Abstract

Purpose

The purpose of this paper is to analyze the strategies employed by the pro-Beijing and pro-democracy camps in the proportional representation system which was used to universally elect a half of the seats in the Legislative Council (LegCo) of Hong Kong before 2019. It provides the consequences of proportional representation over the political sphere development after the handover.

Design/methodology/approach

This research is based on the past election results and the interviews conducted with 18 LegCo members in 2018.

Findings

This paper examines how the political parties split their lists in order to win more seats with the past electoral outcomes. Coupled with firsthand materials from interviews with the legislators, the most significant part of this article analyzes why the pro-Beijing camp performed better than the pro-democracy camp. It supplements the gap of current literature from the perspective of campaign strategies. This article also points out the Chinese authorities' miscalculation in the 1990s which resulted in the unintentional creation of fragmented politics and filibusters before 2019.

Originality/value

This examines the development of campaign strategies of the pro-Beijing and pro-democracy camps, and it explains how the proportional representation caused the fragmented politics in Hong Kong.

Details

Asian Education and Development Studies, vol. 11 no. 4
Type: Research Article
ISSN: 2046-3162

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