Journal ArticleDOI
Resilience of Organizations in the Construction Industry in the Face of COVID-19 Disturbances: Dynamic Capabilities Perspective
TLDR
In this article , a joint contagion model, the crisis severity index, and Student t-tests were used to analyze the longitudinal daily stock prices and indices collected from 80 construction organizations and the Chinese and US stock markets, spanning both the pre-COVID-19 and COVID-2019 periods.Abstract:
The construction industry has been significantly impacted by the economic, financial, and operational consequences of the COVID-19 pandemic. Because the pandemic continues to evolve, this study aimed to better understand its impact and propose a roadmap to support the survival and recovery of construction organizations through a two-stage research design. The first stage of this study built upon the economic contagion literature to empirically examine the magnitude and severity of the impacts of the pandemic on construction organizations globally. A joint contagion model, the crisis severity index, and Student t -tests were used to analyze the longitudinal daily stock prices and indices collected from 80 construction organizations and the Chinese and US stock markets, spanning both the pre-COVID-19 and COVID-19 periods (i.e., a total of 840 observations). The results showed the extent of the impact of the pandemic within the construction industry and its varying severity levels over time across regions in a pattern that is consistent with the spread of the pandemic itself. These findings urgently call for construction organizations to plan their response strategies for short-term and long-term performance. Accordingly, a systematic literature review was conducted in the second stage of this study to synthesize the best practices undertaken by construction organizations in the face of historical economic downturns. Specifically, the theoretical lenses of dynamic capabilities and organizational resilience were applied to synthesize the literature to develop an evidence-based roadmap. Construction organizations can use this roadmap to systematically scan their environments for threats or opportunities (i.e., sensing), formulate suitable responsive strategies (i.e., seizing), and build their resilience over time (i.e., reconfiguration). These insights can help them to survive, recover, and even thrive in the face of the pandemic and build resilience in the anticipation of future disturbances. [ FROM AUTHOR] Copyright of Journal of Management in Engineering is the property of American Society of Civil Engineers and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full . (Copyright applies to all s.)read more
Citations
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Multiple paths to enhancing the resilience of project-based organizations from the perspective of CSR configuration: evidence from the Chinese construction industry
Teng Ma,Ya Lou Liu +1 more
TL;DR: Wang et al. as discussed by the authors analyzed 48 listed construction and engineering companies from China to explore the corporate social responsibility (CSR) configurations for PBOs in enhancing organizational resilience and found that a large firm size is a necessary condition for high organizational resilience.
Journal ArticleDOI
Evaluations of policy contagion for new energy vehicle industry in China
TL;DR: In this paper , the authors investigated the impact of eight new energy vehicle (NEV) policies in China from 2016 to 2021 on the stock indices of its 10 major up-, mid-, and downstream sectors.
Journal ArticleDOI
Responses to the COVID-19 pandemic in the construction industry: a literature review of academic research
Frank Ato Ghansah,Weisheng Lu +1 more
TL;DR: In this paper , the authors conducted a literature review to better understand this terra incognita by adopting a six-step thematic analysis of 159 empirical peer-reviewed research articles in relation to COVID-19 on construction.
Journal ArticleDOI
Brace for Another Crisis: Empirical Evidence from US Construction Industry and Firm Performance during and after 2007–2009 Global Financial Crisis
Ying-Yi Chih,Cody Yu-Ling Hsiao +1 more
TL;DR: In this article , the authors investigated the effect of the 2007-2009 global financial crisis (i.e., prevailing economic conditions) on the United States (US) construction industry and firm performance.
Journal ArticleDOI
Resilience analysis grid: mapeando o cenário da produção científica
Bruno Vieira Gonçalves,Priscila Wachs,João Henrique de Freitas,Matheus Henrique Pulz,Éder Henriqson +4 more
TL;DR: In this paper , análise e o aprendizado are implemented in an evento, a análas, and a línea, and aslições aprendidas are implemented.
References
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Journal ArticleDOI
Dynamic capabilities and strategic management
TL;DR: The dynamic capabilities framework as mentioned in this paper analyzes the sources and methods of wealth creation and capture by private enterprise firms operating in environments of rapid technological change, and suggests that private wealth creation in regimes of rapid technology change depends in large measure on honing intemal technological, organizational, and managerial processes inside the firm.
Journal ArticleDOI
Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance
TL;DR: In this paper, the authors draw on the social and behavioral sciences in an endeavor to specify the nature and microfoundations of the capabilities necessary to sustain superior enterprise performance in an open economy with rapid innovation and globally dispersed sources of invention, innovation, and manufacturing capability.
Posted Content
Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review
TL;DR: The extent to which the process of systematic review can be applied to the management field in order to produce a reliable knowledge stock and enhanced practice by developing context-sensitive research is evaluated.
Journal ArticleDOI
Towards a Methodology for Developing Evidence-Informed Management Knowledge by Means of Systematic Review
TL;DR: In this article, the authors evaluate the process of systematic review used in the medical sciences to produce a reliable knowledge stock and enhanced practice by developing context-sensitive research and highlight the challenges in developing an appropriate methodology.
Journal ArticleDOI
No Contagion, Only Interdependence: Measuring Stock Market Comovements
TL;DR: The authors showed that correlation coefficients are conditional on market volatility, and that there was virtually no increase in unconditional correlation coefficients (i.e., no contagion) during the 1997 Asian crisis, 1994 Mexican devaluation, and 1987 U.S. market crash.