FACTORS CAUSING PROBLEMS IN MANAGING CONSTRUCTION PROJECTS IN A COUNTRY UNDER MILITARY OCCUPATION: Contractors’ Perspective ►Akram Subhe Suleiman and Jafar Subhi Hardan Abahre
An exhaustive literature search revealed that not much research has been done on factors causing problems in managing a construction project in a country under military occupation like Palestine. So, it is the main goal of this research is to identify these factors which could be used by the decision makers to select the appropriate project manager who bosses the suitable skills and competencies to deal with these problems. The study is a step toward determining means to improve the effectiveness of projects through identifying project manager competencies. It is important for Palestinian construction industry to progress in terms of project success; the problems that face the project managers must be determined and identified, in order to achieve the best results with less risk. A clear understanding of such problems helps the Palestinian construction industry of finding the suitable solutions to overcome these problems. A questionnaire survey was carried out to achieve the main aim of this research. The respondents were engineers have more than 3 years in the position of project manager in the Palestinian construction industry. The survey was based on factors drawn from findings of another researches in different countries, together with special factors identified as potentially affecting Palestine. The results identified many factors created problems; they were clustered in eight groups. These groups were arranged according to respondents in descending order as follows: the political situation of Palestine, lack of consultants` technical competencies, lack of resources, insufficient planning, team members uncommitted, conflicts between departments, breakdowns in communications, and changes in goals. As a result of this study one could conclude that managing a project in Palestine is as difficult as the complication of the political situation of the country. The project manager should have a complicated mixture of skills and competencies from dealing with Israeli occupation to dealing with stakeholders to lack of resources and unclear goals. The study has recommended to the Palestinian government to improve the regulations and laws to meet the impact of closure and segmentation of the Palestine.
Keywords: Construction Industry, Project Managers. JEL Classification: L74, O22
EFFECT OF CORPORATE GOVERNANCE PRINCIPLES ON BUSINESS PERFORMANCE ►Emel Burak, Oya Erdil and Erkut Altindağ
The purpose of this study is to investigate whether the corporate governance principles, which are adopted by businesses to ensure their sustainability successfully, have an effect on business performance by discussing them in detail. This exploratory research article was carried out on participants in managerial positions in businesses operating in the Marmara Region. In addition, an attempt to collect data was made by delivering questionnaires to the management positions of the businesses in different regions to form a more valid sampling population from the whole of Turkey. The data which were provided by 304 questionnaires obtained as a result of various stages were analyzed by SPSS program. In the analysis performed, it was concluded that there is a relationship between the corporate governance principles consisting of the variables of transparency, fairness, accountability, social awareness, independence and discipline and business performance. Research results partially support studies in the literature. The research findings were interpreted, and the suggestions about managerial practices were presented in detail. This study will provide a basis for the scientific studies to be carried out in this field in the literature.
INFORMATION CONTENT OF PRO FORMA EARNINGS ►Shu-Ling Hsu
An increasing number of firms release “pro forma” earnings along with net income in their financial reports in the press. The pro forma earnings are defined by individual firms which are different from the net income defined under Generally Accepted Accounting Principles (GAAP). Lougee and Marquardt (2004) indicated that companies with less informative GAAP earnings were more likely to engage in reporting pro forma earnings than others. This study examines whether the pro forma earnings provide information to investors about future earnings in the Taiwanese stocks market. A condition of information asymmetry exists between investors and managers, and pro forma earnings are a way to disclose the latter’s ideas about their firms’ future profitability to investors. The quality of the financial information that is provided will impact investors’ predictions about firms’ future earnings, and so affect stock prices. The purpose of this study is thus to investigate the information content of pro forma earnings, and examine whether pro forma earnings can provide details of future earnings to the investors in the Taiwanese stock market. We collect 3,287 firm-year observations listed on the Taiwan Stock Exchange or Gre Tai Securities Market from 2008 to 2012, and our data is from the Taiwan Economic Journal (TEJ) database. Our results show that the disclosure of pro forma earnings can improve the association between current returns and future earnings. This implies that the disclosure of pro forma earnings reveals credible information, which is then incorporated into current returns.
EXPLORING THE SURVIVAL STRATEGIES FOR SMALL BUSINESS OWNERSHIP IN NIGERIA ►Dr. Nana Shaibu Akaeze and Dr. Christian Akaeze
Notwithstanding the unstable nature of Nigeria economy small business owners created approximately 32 million jobs and contribute almost 45% to the nations GDP. However, startup small businesses fail at rate over 80% the first five years. Guide by theory of constraints, the purpose of this qualitative multiple-case study was to explore survival strategies required by some small business owners to sustain business in Nigeria beyond 5 years. Data collection was through semi-structured interviews with 3 owners with up to 5 years of experience in small business management from 3 different regions of Nigeria. The 3 major themes from final data analysis were cost efficiency, informal crediting and aggressive marketing which participants said were crucial for business survival. Data analysis also revealed two critical constraints confronted by small business owners as Government Policy and capital constraints. Findings of this study contribute to social change by indicating some strategies which prospective and existing small business practitioners may use to sustain for survival beyond first five years. The findings may prove useful for small business programs and training schedules to practitioners, managers and owners.