• Title/Summary/Keyword: Construction firm

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Ex Ante Expectations & Ex Post Operating Performances of Mergers and Acquisitions of the Korean and U.S. Construction Industry (국내외 건설부문 기업결합성과 분석)

  • Choi, Jong-Soo
    • Korean Journal of Construction Engineering and Management
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    • v.6 no.5 s.27
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    • pp.128-138
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    • 2005
  • The success of mergers and acquisitions(M&A) have been evaluated by either measuring ex ante expectations for the specified time period(Window) or assessing long term-based post operating performance (ex post operating performance). In this study, utilizing cumulative abnormal return(CAR) method, M&As which are observed in both domestic and U.S. construction industries were analyzed then research outcomes are compared. Analysis results indicate that stockholders of public construction companies did not realize significant economic gains from M&As. In other words, there was no synergistic gains from the construction M&As. Also, no significant performance difference was observed between related and unrelated diversifications.

Amyloidosis in a Whooper swan (Cygnus cygnus) (큰 고니에서 발생한 아밀로이드 침착증)

  • Woo, Sang-Ho;Kim, Yong Ahn;Kwon, Soo Whan;Kim, Yang Beom;Youn, Soong Hee;Shin, Ki Yong;Jung, Eun;Go, Du-Min;Kim, Dae-Yong
    • Korean Journal of Veterinary Research
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    • v.57 no.4
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    • pp.257-260
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    • 2017
  • Two Whooper swan (Cygnus cygnus) died after suffering from pododermatitis, lethargy, and ataxia; necropsy was performed. Grossly, the liver was swollen and firm. The kidney and spleen were also enlarged and a pale tan color. On histopathologic examination with Congo red staining, amyloidosis was noted in liver, spleen, and kidney. In addition, marked osseous metaplasia was present in the liver. Based on these results, systemic amyloidosis involving liver, spleen, and kidney with osseous metaplasia in the liver was diagnosed. Study results indicate that an inflammatory reaction associated with pododermatitis had a role in the amyloidosis in this particular case.

A Study on the Improvement of Management of Historical Data in Construction (건설공사 실적관리 개선에 관한 연구)

  • Cheon Bong-Gi
    • Korean Journal of Construction Engineering and Management
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    • v.3 no.2 s.10
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    • pp.107-113
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    • 2002
  • The processes for management of historical data in construction have many problems according to construction firm$^{\circ}{\phi}$s participating in some of the processes. This study analyzed about current process and provided improved processes with IDEF method and simulation. The proposed $\lceil$To-Be$\rfloor$ model is more effective than $\lceil$As-Is$\rfloor$ model according to the result of simulation performance. It is revealed that the productivity in the construction company is more improved than that of the owner from the results of the system simulation.

Formal Governance Mechanism and its Application in Construction Projects

  • Banihashemi, Seyed Yaser;Liu, Li
    • Journal of Construction Engineering and Project Management
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    • v.3 no.1
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    • pp.22-27
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    • 2013
  • Inter-organizational Relationships (IORs) governance is one of the emerging research areas that have been studied in different contexts (e.g. economics, strategy, organization, and management). This view, particularly, attracted rising attention from academics and practitioners in the context of construction projects, due to the complex forms of IORs in terms of inter-firm exchanges (e.g. engineering, procurement, finance, construction, and operation) in these projects. The focus of IORs governance is to control Inter-organizational relationships among two or more cooperative parties to alleviate conflict and achieve mutual gains. One of the mechanisms that have been identified in the related literature is formal governance mechanism. Although many empirical studies have been conducted using formal governance terms and indicators, there isn't yet a consensual definition of this mechanism and its components that may cause misinterpretation of research results and also impede future research. This paper makes contribution to the concept of IORs governance by clarifying the meaning of formal governance mechanism and identifying different indicators of this mechanism that have been used and identified in previous studies. This provides an innovative and useful framework to understand formal governance mechanism and its application in construction projects.

Data-Driven Approaches for Evaluating Countries in the International Construction Market

  • Lee, Kang-Wook;Han, Seung H.
    • International conference on construction engineering and project management
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    • 2015.10a
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    • pp.496-500
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    • 2015
  • International construction projects are inherently more risky than domestic projects with multi-dimensional uncertainties that require complementary risk management at both the country and project levels. However, despite a growing need for systematic country evaluations, most studies have focused on project-level decisions and lack country-based approaches for firms in the construction industry. Accordingly, this study suggests data-driven approaches for evaluating countries using two quantitative models. The first is a two-stage country segmentation model that not only screens negative countries based on country attractiveness (macro-segmentation) but also identifies promising countries based on the level of past project performance in a given country (micro-segmentation). The second is a multi-criteria country segmentation model that combines a firm's business objective with the country evaluation process based on Kraljic's matrix and fuzzy preference relations (FPR). These models utilize not only secondary data from internationally reputable institutions but also performance data on Korean firms from 1990 to 2014 to evaluate 29 countries. The proposed approaches enable firms to enhance their decision-making capacity for evaluating and selecting countries at the early stage of corporate strategy development.

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FORMAL GOVERNANCE MECHANISM AND ITS APPLICATION IN CONSTRUCTION PROJECTS

  • S. Yaser Banihashemi;Li Liu
    • International conference on construction engineering and project management
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    • 2013.01a
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    • pp.321-327
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    • 2013
  • Inter-organizational Relationships (IORs) governance is one of the emerging research areas that have been studied in different contexts (e.g. economics, strategy, organization, and management). This view, particularly, attracted rising attention from academics and practitioners in the context of construction projects, due to the complex forms of IORs in terms of inter-firm exchanges (e.g. engineering, procurement, finance, construction, and operation) in these projects. The focus of IORs governance is to control Inter-organizational relationships among two or more cooperative parties to alleviate conflict and achieve mutual gains. One of the mechanisms that have been identified in the related literature is formal governance mechanism. Although many empirical studies have been conducted using formal governance terms and indicators, there isn't yet a consensual definition of this mechanism and its components that may cause misinterpretation of research results and also impede future research. This paper makes contribution to the concept of IORs governance by clarifying the meaning of formal governance mechanism and identifying different indicators of this mechanism that have been used and identified in previous studies. This provides an innovative and useful framework to understand formal governance mechanism and its application in construction projects.

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A Case Study on making inroads into foreign market of Korean Construction Engineering (한국건설엔지니어링의 해외진출사례(미국, 몽골))

  • Choi, Suk;Song, Yong-Wook
    • Proceedings of the Korean Institute Of Construction Engineering and Management
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    • 2008.11a
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    • pp.119-128
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    • 2008
  • Recently, because of the economic slump on the national construction market, enterprises are making a ceaseless effort on participating in the competitiveness enforcement, internationalization and globalization. As this firm has found a larger market abroad and took part in great and small services since 2003, successful services are going under construction in USA, Mongolia and Guam. In this case study, looking around the on-going projects, the analysis and solutions of the differences of the counter attitude and matters resulted from politic, economical, social and cultural gaps are proposed. This study is helpful to enterprises which are planning to extend its business abroad and which want to take part in global standards.

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A Study on the Japanese Military Installations of Jisim-do (지심도(只心島)의 일본군사시설에 관한 연구)

  • Lee, Ji-Young;Seo, Chi-Sang
    • Journal of architectural history
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    • v.22 no.5
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    • pp.37-46
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    • 2013
  • This paper aims to examine the constructional background and process of the Japanese military installations of Jisim-do, especially based on the military secret documents. Furthermore, it aims to analyze the characteristics of the remains. First, the study looked into the procedure of forcible occupation by Japan, involving the background of the designation and forcible accommodation of military reservations, and forced eviction by the purchase of land. Second, the study identified the background of construction, purpose, and construction period of each battery built throughout the 'Fort maintenance period' according to changes in international situations. Third, it is the 'Chukseongbu' that supervised the construction of fortresses. Fourth, the study considered a series of arrangement processes in which Jisim-do became a fortresses through "Yukgunsungdae-ilgi", a military operations report for the Japanese army. Through this, it discovered a clear construction process, construction details, and the supply for Jisim-do. The study was also able to reveal the meticulousness in constructing firm facilities more promptly from the 'design tactics'.

Contractors' Perception towards Safety and its Consequences on Construction Workers in Cape Coast Metropolis

  • Mustapha, Zakari
    • The Korean Journal of Food & Health Convergence
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    • v.5 no.6
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    • pp.11-16
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    • 2019
  • The construction environment has been declared as a hazard prone area due to high number of accident and death. The study aims to identify influential factors that contribute to poor safety practices and its consequences on construction workers in Cape Coast Metropolis. Seventy respondents were taken as the sample size for the study. Descriptive analysis was used to analyze the data obtained from the field. Findings show that poor site management, working without safety gadgets, failure to use their Personal Protective Equipment (PPE) and negligence of workers were the main causes of accidents on sites. Poor site management had the highest ranking among the seven variables. Effects of poor safety practices on building construction site and delays in work execution were due to injury of workers, extra cost due to payment of compensation to injured victims, not motivated due to injury of worker and declined reputation of firm. Management team should motivate workers for safe work done, provide adequate PPE for their workers on site and have documented health and safety policy on site. Site authorities and management team should be on site regularly to ensure proper safety practices on construction site.

Critical Factors Influencing Satisfaction of Employees to Their Working Place: An Empirical Study in Vietnam

  • KHANH, Vo Thi Van
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.7
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    • pp.275-283
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    • 2021
  • Globalization has greatly contributed to an increased need for improvement of human capital, and particularly in the development of the real estate and construction sector. Since the political and economic reforms in 1986, Vietnam has experienced a strong economic performance. The real estate and construction sector is one of the fastest growing industries in Vietnam, accounting for approximately 7.6% of GDP in Vietnam. The aim of this study is to identify critical factors influencing the satisfaction of employees to their working place. The sample data collected was from 265 employees, managers and staff in real estate and construction companies in Vietnam. After revising the missing data, and the errors, 240 valid respondents are selected. In addition, the analysis also employs SPSS software by discussing descriptive statistics, Cronbach's alpha test, exploratory factor analysis (EFA), and regression analysis. Our empirical findings show that a company offering greater wages can positively affect the satisfaction of employees to their working place in the real estate and construction sector. In addition, a firm with a superior working relationship and working environment has a positive and statistically significant impact on the satisfaction of employees to their working place.