Diversification in the international construction business

Economic globalization has created an interdependent market that allows companies to transcend traditional national boundaries to conduct business overseas. In the international construction market, companies often adopt diversification as a strategy for growth, for risk management or for both. However, the diversification patterns of international construction companies (ICCs) as a group are barely clear. The primary aim of this research is to cover this knowledge void by mapping ICCs’ diversification patterns in both business sectors and geographical dispersal. It starts from a literature review of diversification theories. Based on the review, a series of hypotheses relating to ICCs’ diversification are proposed. Data are gleaned from Engineering News-Record, i.e. Bloomberg and Capital IQ, ranging from 2001 to 2015. By testing the hypotheses, it is found that larger ICCs prefer to diversify than their smaller counterparts. Most of the ICCs tend to diversify to geographical markets with similar cultural or institutional environment. Market demands drive ICCs to diversify to different geographical markets while they are more prudential in venturing into new business sectors. The research provides not only valuable insights into diversification patterns of ICCs, but also a solid point of departure for future theoretical and empirical studies

Rethinking the relationship between housing prices and inflation: new evidence from 29 large cities in China

This paper presents a longitudinal analysis of the relationship between housing prices and inflation by employing new housing price indices from 29 large Chinese cities over the 2003–2013 period. Based on the Autoregressive Distributive Lag (ARDL) model and bounds test, we find no long-run co-integration relationship between housing prices and inflation. This result is robust for different types of inflation (actual, expected, unexpected inflation). Furthermore, it is found that the housing prices in China grow spectacularly in the sample period owing to the dramatic development of the Chinese economy, while inflation grows in a more modest way. Although the study is conducted in the context of China, the results can provide useful evidence to the debate on the relationship between housing prices and inflation

Impact of corporate credit scoring on construction contractors in China

In an attempt to enhance the trustworthiness of contractors and reduce corruption, the China Government has launched a construction contractor credit scoring (CCCS) scheme in Beijing for evaluating the compliance and integrity of contractors registered in the construction market. The contribution of this paper to the Body of Knowledge is to analyze how the incorporation of CCCS may affect general contractors’ present and future competitiveness through a case study in China. The paper analyzes the procurement of 158 building projects tendered in Beijing, involving 2071 local general contractors active in the market. The results show that (1) the contractors’ CCCS scores are important for being awarded large and mega project contracts; (2) CCCS scores have a generally positive effect on future corporate financial income; and (3) that, contrary to expectations, the policy does not increase the CCCS of companies. Finally, it is observed how the changing trend in contractors’ CCCS scores is highly correlated with their initial values (the scores of higher CCCS scoring companies increase faster on average than other companies). Final remarks concern ways to better implement CCCS schemes in the future and avoid the potential risks involved in their use

Early growing season anomalies in vegetation activity determine the large-scale climate-vegetation coupling in Europe

The climate-vegetation coupling exerts a strong control on terrestrial carbon budgets and will affect the future evolution of global climate under continued anthropogenic forcing. Nonetheless, the effects of climatic conditions on such coupling at specific times in the growing season remain poorly understood. We quantify the climate-vegetation coupling in Europe over 1982–2014 at multiple spatial and temporal scales, by decomposing sub-seasonal anomalies of vegetation greenness using a grid-wise definition of the growing season. We base our analysis on long-term vegetation indices (Normalized Difference Vegetation Index and two-band Enhanced Vegetation Index), growing conditions (including 2m temperature, downwards surface solar radiation, and root-zone soil moisture), and multiple teleconnection indices that reflect the large-scale climatic conditions over Europe. We find that the large-scale climate-vegetation coupling during the first two months of the growing season largely determines the full-year coupling. The North Atlantic Oscillation and Scandinavian Pattern phases one-to-two months before the start of the growing season are the dominant and contrasting drivers of the early growing season climate-vegetation coupling over large parts of boreal and temperate Europe. The East Atlantic Pattern several months in advance of the growing season exerts a strong control on the temperate belt and the Mediterranean region. The strong role of early growing season anomalies in vegetative activity within the growing season emphasizes the importance of a grid-wise definition of the growing season when studying the large-scale climate-vegetation coupling in Europe

Compound Climate Events and Extremes in the Midlatitudes: Dynamics, Simulation, and Statistical Characterization

The workshop, conducted virtually due to travel restrictions related to COVID-19, gathered scientists from six countries and focused on the mechanistic understanding, statistical characterization, and modeling of societally relevant compound climate events and extremes in the midlatitudes. These ranged from co-occurring hot–humid or wet–windy extremes, to spatially compounding wet and dry extremes, to temporally compounding hot–wet events and more. The aim was to bring together selected experts studying a diverse range of compound climate events and extremes to present their ongoing work and outline challenges and future developments in this societally relevant field of research

Corporate social responsibility disclosures in international construction business: trends and prospects

There is increasing sophistication in corporate social responsibility (CSR) disclosures by international construction companies (ICCs). Nevertheless, a systematic analysis of the trends and prospects is yet to appear. This study fills that knowledge gap by providing an understanding of the idiosyncrasies of CSR disclosure and by offering suggestions for future reporting exercises. By examining the top fifty ICCs’ CSR/sustainability reports using content analysis, it found that the more negative impacts a company may have, the more remedial strategies it will disclose in a CSR report. ICCs from economically more developed countries maintain a high level of CSR disclosure, while their counterparts from developing countries have caught up in this CSR cause. As a way to improve the consistency and integrity of disclosed information, ICCs are increasingly adopting CSR reporting guidance frameworks and using third-party assurances. CSR disclosures present a high degree of uniformity while they also show nuanced and intriguing diversity. This research helps understand comprehensively the trends of CSR disclosure in international construction. It will help ICCs extrapolate their future CSR reporting exercises.postprin

Measuring City-Level Transit Accessibility Based on the Weight of Residential Land Area: A Case of Nanning City, China

A large body of research on transit accessibility emphasizes the importance of methods to simulating the real-world travel process. Few efforts have been made to conduct empirical research and comparative analysis of overall city-level transit accessibility. In addition, most of literatures utilize census tracts combined with the buffer method to estimate transit travel demand or available service areas, failing to take into account the reality that different land-uses have their own population. This research aims to develop an overall index of city-level transit accessibility based on the weight of residential land area. We integrated five types of destinations and the coverage of residential area within the transit stop service area to evaluate the overall structural problems of land use and public transportation in the process of urban development. Based on a case study on Nanning City, it was found that the weighted average travel distance is increased by 5.42 km, but the overall weighted travel time of the city is shortened by 7.65 min. In addition, an increase in coverage within the stop threshold and a decrease in the number of residential communities outside the threshold indicate that transit accessibility facilitates urban expansion. The empirical results show that the overall transit accessibility index can provide a reasonable measure criterion for the compact spatial structure and support urban strategic planning and address the problem of land use and public transport in the process of urban development

Governmental dust control in construction industry : a study of policies

Construction dust emission has become an outstanding issue in the construction industry. As a key content of green construction, governments around the world have the responsibility of mitigating the adverse effects of dust emission on the environment. However, little has been known of how governments can sharpen their efforts in this area. Using literature survey and content analysis, this study aims to identify the main roles of governments in construction dust control. Considerable policies were collected for analysis. It is found that governments have three characters in the dust control, namely opinion leaders, policy makers and technical supporters. As policy makers, governmental measures for dust emission control span widely, which include technology, economy, management and organizational governance. The results shed some lights on the measurement of governmental policies in the dust control.Non UBCUnreviewedFacultyOthe