Construction is defined as a major industry that exploits natural resources globally. A construction delay can be defined as an extended construction duration, beyond the expected completion time. Various literatures proved that delays are a major and most common risk faced by the construction industry throughout the year. Hence, the objectives of this study are to identify the major causes of construction delays in Saudi Arabian projects, to determine the effects of construction delays in Saudi Arabia and to propose workable preventive solutions to eliminate or minimize the project delays. A questionnaire analysis was conducted to identify the causes and effects of delays in KSA’s construction industry. From the analysis, a lack of manpower skill (mean score 4.51 out of 5), manpower shortage (mean score 4.33 out of 5), delays in material delivery (mean score 4.13 out of 5), material shortage (mean score 4.13 out of 5) and poor project planning and coordination was identified as top 5 most occurring causes of delays, which resulted from contractor related causes of delays. Fifteen effects of construction delays were identified from the literature and distributed to respondents in questionnaire. From the research analysis, deterioration of company image (mean score 4.27 out of 5), bankruptcy (mean score 4.16 out of 5), stress for contractors (mean score 3.56 out of 5), total abandonment (mean score 3.53 out of 5) and acceleration of losses (mean score 3.02 out of 5) ranked as top 5 effects of construction delays.
The study investigated the impact of interest rate spread on revenue performance of commercial banks in the Nigerian financial system. Using the Autoregressive Distributed Lag (ARDL) framework and using data set covering 2005 to 2018, it was found that interest rate spread positively and significantly affects the profit performance of commercial banks in Nigeria. It is therefore recommended that deliberate policies be adopted to ensure interest rate regimes that enhance not just bank profitability but also the overall growth of the economy. This study concludes that proper management of the interest rate spreads of commercial banks in Nigeria may not necessarily be the only sufficient tool for the much needed financial stability for sustainable and economic development but a blend of so many other factors. A competitive banking environment promotes allocative and productive efficiency by encouraging the greatest supply of credit and advances at the lowest price.
Purpose: Foreign direct investments have been grown and accelerated over the last decades due to the ongoing globalization process. This determines that companies and their managers have to make decisions in respect to the FDI. Macro-economic factors increase their importance when companies go international. The macro-economic framework cannot be directly influenced by the managers and this forces them to adapt and fit to the given circumstances. During such complex processes also intervening factors may attract or distract FDI decisions. The purpose is to develop a model to investigate the impact of macro-economic and intervening factors on FDI decision-making process.
Methods: Developing a postulated causal model on potential impacts of macro-economic factors on FDI decisions with respect to FDI incentive schemes and risk/uncertainty potential intervening factors during decision process.
Findings: The conducted data show, macro-economic factors have a strong influence on FDI decisions and often are not that considered before starting such ventures. FDI incentives seem to be able to strongly positively impact FDI decisions. Risk/Uncertainty on the macro-level have a slight, but significant negative impact.
Limitations: The research was conducted on the specific characteristics of German and Austrian automotive industry.
Implications: The study underlines the perception of the investors’ point of view.
Originality: A new causal model has been developed with focus on different levels of macro-economic determinants and FDI motives with respect to FDI decisions from the perspective of investors. The key contribution to management science is the holistic fine graining of potential impact environment of macro-economic factors, FDI incentive schemes and risk/uncertainties on the management FDI decision-making process.
This paper aims at evaluating the effects of the Federal Reserve’s quantitative easing (QE) programs on economic activity and prices using VAR models. The analytical framework does not take into consideration any of the transmission channels –portfolio rebalancing, signaling, risk-taking or fiscal channel – frequently mentioned in the literature but explores new assumptions related to the transmission mechanism of QE. On the one hand, it is assumed after Menon and Hee Ng [1] and Herbst et al. [2] that the transmission mechanism of QE might be ineffective for the liquidity injected increases bank reserves instead of fueling credit to the economy. On the other hand, following Fisher [3], it is assumed that as QE drives down yields in an environment where the short-term policy rate is essentially equal to zero, it alters the risk perception/tolerance of investors and could in this respect fuel speculation without stimulating the real economy. The results reveal that QE has a positive and significant effect on economic activity while the effect on prices is weak and insignificant. Furthermore, it is found that the zero lower bound on policy rate does not alter the macroeconomic effects of QE. Finally, the paper finds evidence supporting the speculation trap but not the reserve trap.
Purpose: Role of SMEs lags behind for providing strategic support to society in a developing country’ context by offering increased financial outcome [1]. Purpose of this paper is to explore and classify the critical success factors (CSFs) of KM in SMEs to address competitiveness by bridging the dimensions gap on account of potential, process, and performance through expounding the black box of knowledge economy (KE) in context of developing countries.
Design/Methodology/Approach: Subsequent of review of literature on KM, a new set of KM CSFs were classified by adding three new insights as the most appropriate and desirable factors for SMEs’ success. Theoretical discussion provided justification to the new set of KM CSFs.
Findings: CSFs govern and facilitate the effective implementation of KM in SMEs. By comprehending the tally of good critical factors (GCF), SMEs can ensure success of KM. However, development of CSFs needs extra care for growth and change in the field of SMEs in developing countries.
Practical Implications: The proposed set of CSFs may serve as a road map for SMEs while adopting KM path. The study provides academics and practioners to focus the factors crucial for KM success in SMEs.
Originality/Value: This study provides an investigative perspective of CSFs for implementing KM in the SME sector.
