Abstracts – Browse Results
Click on the titles below to expand the information about each abstract.
Viewing 35 results ...
Bai, L, Shi, H, Kang, S and Zhang, B (2023) Project portfolio risk analysis with the consideration of project interdependencies. Engineering, Construction and Architectural Management, 30(02), 647-70.
Bentivegna, V, Curwell, S, Deakin, M, Lombardi, P, Mitchell, G and Nijkamp, P (2002) A vision and methodology for integrated sustainable urban development: BEQUEST. Building Research & Information, 30(02), 83–94.
Cooper, I (2002) Transgressing discipline boundaries: is BEQUEST an example of 'the new production of knowledge'?. Building Research & Information, 30(02), 116–29.
Deakin, M, Huovila, P, Rao, S, Sunikka, M and Vreeker, R (2002) The assessment of sustainable urban development. Building Research & Information, 30(02), 95–108.
Dewlaney, K S and Hallowell, M (2012) Prevention through design and construction safety management strategies for high performance sustainable building construction. Construction Management and Economics, 30(02), 165-77.
El Hajj, C, Martínez Montes, G and Jawad, D (2023) Analysis of BIM functionalities diffusion in the construction industry: the case of the MENA region. Engineering, Construction and Architectural Management, 30(02), 415-35.
Hamilton, A, Mitchell, G and Yli-Karjanmaa, S (2002) The BEQUEST toolkit: a decision support system for urban sustainability. Building Research & Information, 30(02), 109–15.
Hui, E C-M, Lo, T K K, Chen, J and Wang, Z (2012) Housing and consumer markets in urban China. Construction Management and Economics, 30(02), 117-31.
Jiang, X, Sun, H, Lu, K, Lyu, S and Skitmore, M (2023) Using evolutionary game theory to study construction safety supervisory mechanism in China. Engineering, Construction and Architectural Management, 30(02), 514-37.
Jin, H, Liu, S, Li, J and Liu, C (2023) Determination of government guarantee and revenue cap in public–private partnership contracts. Engineering, Construction and Architectural Management, 30(02), 393-414.
- Type: Journal Article
- Keywords: bargaining game; government guarantee; public–private partnership; revenue cap
- ISBN/ISSN:
- URL: https://doi.org/10.1108/ECAM-06-2019-0311
- Abstract:
Purpose: Considering there is a lack of research in determining the optimal levels of government guarantee and revenue cap, the objective of this research is to determine their optimal levels to achieve a reasonable financial risk allocation between governments and private investors while avoiding overly lucrative conditions for private investors. Design/methodology/approach: Expanded net present value (NPV) analysis and bargaining game theory are employed to construct the core of the determination process. The risk gap between governments and private investors is assessed via an expanded NPV analysis to see if the financial risk has been shared reasonably, based on which the range of the government guarantee is decided. A bargaining model is then created to help locate the optimal level of the government guarantee. Finally, a revenue cap, often combined with the government guarantee in public–private partnership (PPP) agreements, will be determined if overly lucrative conditions for private investors are observed or governments suffer a risk spillover. Findings: Referring to a real PPP project in Australia, Project BA is created to validate the applicability of the proposed determination process. The outcome shows that the proposed determination process in this paper is capable of determining the optimal levels of government guarantee and revenue cap. The government preferences towards risk allocation will influence the values of the optimal levels. Governments may also consider to alleviate the control over investors’ net profits to mobilise private investors into PPP projects. Research limitations/implications: There is a potential possibility that the revenue cap fails to control the financial risk for governments or the overly lucrative condition for private investors. In other words, even though the revenue cap is set at the minimal level, the financial risk for governments still beyond their tolerance range or the overly lucrative condition for private investors still occurs. Future research may focus on other financial protective schemes which help to better control the financial risks for governments and profits for private investors. Originality/value: Government guarantees are frequently used as an investment incentive to reduce the probabilities of suffering loss for private investors. Nevertheless, the financial risks for governments may increase after providing guarantees and, as a result, revenue cap is required by governments to avoid placing themselves in an unprotected situation. By recognising the importance of the two contractual parameters, many scholars dig into their option values. However, there are very rare research works focussing on the method of determining the specific levels of government guarantee and revenue cap. To overcome the limitations of existing models and enrich the methodology for government guarantee and revenue cap determination, this paper contributes to the body of knowledge by developing a government guarantee and revenue cap determination process which contributes to a reasonable allocation of financial risks between governments and private investors.
Kohler, N (2002) The relevance of BEQUEST: an observer's perspective. Building Research & Information, 30(02), 130–8.
Li, H, Arditi, D and Wang, Z (2012) Transaction-related issues and construction project performance. Construction Management and Economics, 30(02), 151-64.
Li, H, Su, L, Zuo, J, An, X, Dong, G, Wang, L and Zhang, C (2023) The framework of data-driven and multi-criteria decision-making for detecting unbalanced bidding. Engineering, Construction and Architectural Management, 30(02), 598-622.
Liu, Y, Chang, R D, Zuo, J, Xiong, F and Dong, N (2023) What leads to the high capital cost of prefabricated construction in China: perspectives of stakeholders. Engineering, Construction and Architectural Management, 30(02), 805-32.
Macedo, B S and Ferreira, M L R (2023) Welder learning curves behaviour: “focus on welding productivity with the TIG process of marine platforms stainless steel pipes”. Engineering, Construction and Architectural Management, 30(02), 496-513.
Marandi Alamdari, A, Jabarzadeh, Y, Samson, D and Sanoubar, N (2023) Supply chain risk factors in green construction of residential mega projects – interactions and categorization. Engineering, Construction and Architectural Management, 30(02), 568-97.
Matto, M C (2023) Identifying the latent shortcomings of force account projects in Tanzania: the case of construction projects in the education sector. Engineering, Construction and Architectural Management, 30(02), 787-804.
Mohajeri, M, Ardeshir, A and Malekitabar, H (2023) Diagnostic intervention program based on construction workers' internal factors for persistent reduction of unsafe behavior. Engineering, Construction and Architectural Management, 30(02), 478-95.
Nguyen, H D, Do, Q N H and Macchion, L (2023) Influence of practitioners' characteristics on risk assessment in Green Building projects in emerging economies: a case of Vietnam. Engineering, Construction and Architectural Management, 30(02), 833-52.
Novieto, D T (2023) Safety climate and occupational safety behaviours: the mediating role of psychological ownership among construction professionals. Engineering, Construction and Architectural Management, 30(02), 853-68.
Pellegrino, R, Costantino, N, Pietroforte, R and Sancilio, S (2012) Construction of multi-storey concrete structures in Italy: patterns of productivity and learning curves. Construction Management and Economics, 30(02), 103-15.
Shoar, S, Yiu, T W, Payan, S and Parchamijalal, M (2023) Modeling cost overrun in building construction projects using the interpretive structural modeling approach: a developing country perspective. Engineering, Construction and Architectural Management, 30(02), 365-92.
Sirimewan, D C, Samaraweera, A, Manjula, N H C, Rameezdeen, R, Rodrigo, M N N and Ekanayake, E M A C (2023) Strategies for sustainable irrigation system management: a socio-technical system approach. Engineering, Construction and Architectural Management, 30(02), 436-55.
Tijani, B, Jin, X and Osei-Kyei, R (2023) Theoretical model for mental health management of project management practitioners in architecture, engineering and construction (AEC) project organizations. Engineering, Construction and Architectural Management, 30(02), 914-43.
Tong, R, Wang, L, Cao, L, Zhang, B and Yang, X (2023) Psychosocial factors for safety performance of construction workers: taking stock and looking forward. Engineering, Construction and Architectural Management, 30(02), 944-62.
Vahabi, A, Nasirzadeh, F and Mills, A (2023) Assessing the impact of project brief clarity using project definition rating index tool and system dynamic. Engineering, Construction and Architectural Management, 30(02), 697-713.
Vigneshwar, R V K and Shanmugapriya, S (2023) Investigating the factors affecting construction site productivity – a case of India. Engineering, Construction and Architectural Management, 30(02), 963-85.
Wakchaure, S S and Jha, K N (2012) Determination of bridge health index using analytical hierarchy process. Construction Management and Economics, 30(02), 133-49.
Wang, C, Zou, F, Yap, J B H, Wood, L C, Li, H and Ding, L (2023) System dynamics tool for entropy-based risk control on sleeve grouting in prefabricated buildings. Engineering, Construction and Architectural Management, 30(02), 538-67.
Wang, D and Wang, Y (2023) The role of regulatory focus and team mindfulness in megaproject conflicts. Engineering, Construction and Architectural Management, 30(02), 714-33.
Wang, G, Locatelli, G, Zhang, H, Wan, J and Chen, Y (2023) Playing the cards right: exploring the way leadership influences organizational citizenship behavior for the environment in megaprojects. Engineering, Construction and Architectural Management, 30(02), 623-46.
Xiao, H and Hao, S (2023) Public participation in infrastructure projects: an integrative review and prospects for the future research. Engineering, Construction and Architectural Management, 30(02), 456-77.
Xu, S, Zhang, M, Xia, B and Liu, J (2023) Exploring construction workers' attitudinal ambivalence: a system dynamics approach. Engineering, Construction and Architectural Management, 30(02), 671-96.
Yu, A T W, Mok, K S H and Wong, I (2023) Minimisation and management strategies for refurbishment and renovation waste in Hong Kong. Engineering, Construction and Architectural Management, 30(02), 869-88.
Yuan, M, Li, Z, Li, X, Luo, X, Yin, X and Cai, J (2023) Proposing a multifaceted model for adopting prefabricated construction technology in the construction industry. Engineering, Construction and Architectural Management, 30(02), 755-86.