Construction capital productivity measurement using a data envelopment analysis

During the past few decades, the construction industry has experienced a series of changes including the innovation of construction technologies and the enhancement of management strategies. These improvements should have had a considerable effect on industrial efficiency and productivity performance, but research is needed to address whether the capital productivity levels of the construction industry have in fact shown such a huge improvement. This paper aims to develop an analysis procedure to measure capital productivity changes and to reasonably quantify factors affecting productivity levels in the construction industry. Based on the data envelopment analysis method, this research has developed a novel model measuring capital productivity and has applied it to the Australian construction industry. The numerical results indicate that the average annual capital productivity levels of the construction industry are slowly growing in all the Australian states and territories except for Queensland and Western Australia. In addition, construction technologies are shown to have a close relationship with the changes in capital productivity according to the temporal-spatial comparisons of productivity indices. The research findings are expected to be beneficial for making policy and strategic decisions to improve the capital productivity performance

A-Reit price responses to cash rate changes

With the rapid increasing number and assets of A-REITs, there has been an urgent need to study the relationship between the changes of cash rates and the A-REITs returns. This study investigates whether there were relationships between Australian-Real Estate Investment Trusts stock returns and policy interest rate changes in the past decade by using event study with a multivariate regression model. The findings indicate that cash rate changes have no significantly positive or negative influence on the equity A-REIT stock prices. A series of successive cash rate changes do not take a continuous and dramatic effect on the equity A-REIT stock prices in each economic cycle. Moreover, the A-REITs with relatively smaller assets show more significant fluctuation to the changes of cash rates, and the A-REITs owning more than $ 10 billion in capital assets have relatively steady stock prices. Overall, the findings from this research lead to a call for comprehensive research into various areas in order to ascertain the determinants of A-REIT price changes.<br /

Research progress on the role of lncRNA–miRNA networks in regulating adipogenic and osteogenic differentiation of bone marrow mesenchymal stem cells in osteoporosis

Osteoporosis (OP) is characterized by a decrease in osteoblasts and an increase in adipocytes in the bone marrow compartment, alongside abnormal bone/fat differentiation, which ultimately results in imbalanced bone homeostasis. Bone marrow mesenchymal stem cells (BMSCs) can differentiate into osteoblasts and adipocytes to maintain bone homeostasis. Several studies have shown that lncRNAs are competitive endogenous RNAs that form a lncRNA–miRNA network by targeting miRNA for the regulation of bone/fat differentiation in BMSCs; this mechanism is closely related to the corresponding treatment of OP and is important in the development of novel OP-targeted therapies. However, by reviewing the current literature, it became clear that there are limited summaries discussing the effects of the lncRNA–miRNA network on osteogenic/adipogenic differentiation in BMSCs. Therefore, this article provides a review of the current literature to explore the impact of the lncRNA–miRNA network on the osteogenic/adipogenic differentiation of BMSCs, with the aim of providing a new theoretical basis for the treatment of OP

Measuring eco-roof mitigation on flash floods via GIS simulation

Purpose: The rapid and ongoing expansion of urbanised impervious areas could lead to more frequent flood inundation in urban flood-prone regions. Nowadays, urban flood inundation induced by rainstorm is an expensive natural disaster in many countries. In order to reduce the flooding risk, eco-roof systems (or green roof systems) could be considered as an effective mechanism of mitigating flooding disasters through their rainwater retention capability. However, there is still a lack of examining the stormwater management tool. The purpose of this paper is to evaluate the effects on flooding disaster from extensive green roofs. Design/methodology/approach: Based on geographical information system (GIS) simulation, this research presents a frame of assessing eco-roof impacts on urban flash floods. The approach addresses both urban rainfall-runoff and underground hydrologic models for traditional impervious and green roofs. Deakin University&rsquo;s Geelong Waurn Ponds campus is chosen as a study case. GIS technologies are then utilised to visualise and analyse the effects on flood inundation from surface properties of building roofs. Findings: The results reveal that the eco-roof systems generate varying degrees of mitigation of urban flood inundation with different return period storms. Originality/value: Although the eco-roof technology is considered as an effective stormwater management tool, it is not commonly adopted and examined in urban floods. This study will bring benefits to urban planners for raising awareness of hazard impacts and to construction technicians for considering disaster mitigation via roof technologies. The approach proposed here could be used for the disaster mitigation in future urban planning

Labour productivity measurement with variable returns to scale in Australia\u27s construction industry

As an important productivity indicator, the change of labour productivity is one indispensable marker in determining the rise or fall of overall industrial performance. This study aims to address whether the labour productivity level of the Australian construction industry has, in fact, shown a huge improvement during the last few decades. This article constructs a measuring method estimating labour productivity changes based on the data envelopment analysis technique with variable returns to scale. By adopting a production frontier approach, the labour productivity index can be broken down into components attributable to efficiency change, technological progress and capital accumulation. The numerical results exemplified by a single-input and single-output system indicate that the average annual labour productivity levels of the construction industry are slowly growing in all the Australian states and territories. However, the year-on-year change in the overall labour productivity performance does not maintain a long-term increase over the period 1990&ndash;2008. The study forms the basis for further industrial productivity research. Proposals and recommendations are expected to be beneficial for making policy and strategic decisions to improve the performance of the construction industry.<br /

Malmquist indices of total factor productivity changes in the Australian construction industry

Construction is an important industry and forms a vital part of national economics in the world. Factors affecting the productivity of the construction industry should be measured appropriately to reflect its development situation and economic performance. The Malmquist index method with a novel decomposition technique is employed to estimate the total factor productivity of the Australian construction industry during the period 1990–2007 and to analyse the factors affecting the technological change in the industry. Research results exemplified by two input variables and one output variable elaborate how construction technology, pure technical efficiency and scale economy take effect in the change of construction productivity. In addition, based on temporal and spatial comparisons, the analysis for construction productivities reveals their changes over time and across the country. Proposals and recommendations are expected to be beneficial for policy making and strategic decisions to improve the performance of the Australian construction industry.Australia, construction industry, data analysis envelopment, Malmquist total factor productivity,