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on Project, Program and Portfolio Management |
| By: | Adriano Fernandes; Rodolfo Rigato |
| Abstract: | Physical capital takes time to build. Yet, the measurement of time to build and of its response to firm behavior remain scant. We fill this gap using project-level data from India. We document new facts on cross-sectional heterogeneity in time to build; and exploit quasi-experimental variation in credit supply to establish that firms accelerate ongoing projects and start fewer new projects when credit dries up. We rationalize our findings with a novel model of endogenous time to build. A credit crunch increases firm appetite for immediate relative to delayed cash flows. Firms then accelerate projects closer to completion and postpone unbegun projects. Such a mechanism is borne out in the data: projects proxied to be more mature are sped up the most. We quantify our model to match our causal estimates, and the joint distribution of project costs and gestation lags. Endogenous time to build generates endogenous amplification and state-dependence of investment on the distribution of projects along completion stages. Endogenous time to build is policy relevant. Contractionary monetary policy faces headwinds when the distribution of projects skews towards mature projects. Tax policy, in turn, can flexibly reshuffle investment expenditures over time with tax credits. |
| Keywords: | Investment; Business Fluctuations; Corporate Finance; Time to Build |
| Date: | 2025–04–11 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfwpa:2025/078 |
| By: | Aurélien Ferry (CNAM - Conservatoire National des Arts et Métiers [CNAM]); Stéphane Jacquet |
| Abstract: | This article explores the support of entrepreneurs through a collaborative and co-active approach. It facilitates the guidance of an entrepreneur who is both locally and globally engaged (concept of glocalization) and operates in a multidimensional manner (concept of polychrony). It then refines the contemporary profile of the proximity entrepreneur, deeply rooted in their community and perceived as a driver of innovation and social responsibility. Furthermore, the article conceptualizes action sciences as an interdisciplinary field. It also examines entrepreneurial support practices, emphasizing flexibility, adaptability, emotional support, effective communication, and awareness of ongoing transitions that foster innovation and entrepreneurial project development. From these insights, new support competencies focused on agility and adaptability are derived. The identified and modeled practices have led to the creation of an innovative training program centered on action sciences. |
| Abstract: | Cet article aborde la question de l'accompagnement de l'entrepreneur dans une dimension collaborative et co-active. Il facilite l'accompagnement d'un entrepreneur présent, à la fois au niveau local et mondial (concept de glocalisation), et qui travaille de manière multidimensionnelle (concept de polychronie). Il affine ensuite le portrait contemporain de l'entrepreneur de proximité, enraciné dans sa communauté et perçu comme un moteur d'innovation et de responsabilité sociale. Ensuite, il 2 marché & organisations conceptualise les sciences de l'action, un domaine interdisciplinaire. Enfin, il explore les pratiques d'accompagnement d'entrepreneurs, mettant en avant la flexibilité, l'adaptabilité, le soutien émotionnel, la communication efficace, et la sensibilisation aux transitions actuelles, qui favorisent l'innovation et la progression des projets entrepreneuriaux ; pour en déduire de nouvelles compétences d'accompagnement axées sur l'agilité et l'adaptabilité. Ces pratiques identifiées et modélisées ont pu permettre de mettre en place une formation inédite, axée sur les sciences de l'action. |
| Keywords: | Accompagnement entrepreneurial, Intention entrepreneuriale, sciences de l'action, acteurs de l'accompagnement, émotion, individuel et collectif, logique inductive, Entrepreneuriat |
| Date: | 2025–03–24 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05009032 |
| By: | Hugo Delcayre (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School); Sébastien Bourdin (Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School) |
| Abstract: | Renewable energy (RE) projects are vital to achieving sustainable development in the context of the pressing challenges of climate change and the energy transition. However, despite the global consensus on their importance, RE projects often encounter significant resistance at the local level. This article investigates how territorial characteristics influence the social acceptability of RE projects and explores the concept of fertile ground as a framework for understanding the conditions that foster or hinder local support for such projects. Drawing on theories of regional path dependency and leadership agency, we identify the historical, socioeconomic, cultural and governance factors shaping local attitudes towards RE projects. By employing qualitative methods, including semi-structured interviews with diverse stakeholders and the analysis of press articles, we develop a nuanced approach that incorporates key territorial dynamics. Our findings reveal the critical role of historical industrial conflicts, political leadership, place attachment and perceptions of fairness in shaping local acceptability. They also highlight the influence of habituation and saturation effects, which shows that the acceptability of RE projects is not static; rather, it evolves over time in response to local conditions and stakeholder engagement. By situating the fertile ground concept within broader frameworks of social acceptability, this study provides actionable insights to policymakers and project developers seeking to align RE initiatives with local contexts and values. |
| Keywords: | Territorial characteristics, Social acceptability, Renewable energy, Fertile ground, Regional path dependency, Agency |
| Date: | 2025–02–01 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04991562 |
| By: | Wadim Strielkowski |
| Abstract: | This paper focuses on assessing the potentials for the efficient low carbon development in green hydrogen and ammonia economy using an example of Ukraine as a case study. It describes the country prerequisites for the transition to renewable energy sources and outlines the ongoing green hydrogen projects. Moreover, it offers a comprehensive SWOT analysis of Ukraine engagement in the green hydrogen and ammonia economy. Furthermore, the paper employs a comprehensive bibliometric network analysis using a sample of 204 selected publications indexed in the Web of Science database. It is doing so by carrying out the network cluster analysis using the text data as well as the bibliometric data with the help of VOSViewer software. The results and outcomes might be helpful for researchers, stakeholders, and policymakers alike in devising effective strategies and policies aimed at rebuilding and recreating Ukrainian efficient low-carbon energy sector based on the renewable energy sources. |
| Date: | 2025–03 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2503.22326 |
| By: | Maria Vagliasindi; Nisan Gorgulu |
| Abstract: | This paper takes stock of the literature on infrastructure and jobs published since the early 2000s, using a conceptual framework to identify the key channels through which different types of infrastructure impact jobs. Where relevant, it highlights the different approaches and findings in the cases of energy, digital, and transport infrastructure. Overall, the literature review provides strong evidence of infrastructure’s positive impact on employment, particularly for women. In the case of electricity, this impact arises from freeing time that would otherwise be spent on household tasks. Similarly, digital infrastructure, particularly mobile phone coverage, has demonstrated positive labor market effects, often driven by private sector investments rather than large public expenditures, which are typically required for other large-scale infrastructure projects. The evidence on structural transformation is also positive, with some notable exceptions, such as studies that find no significant impact on structural transformation in rural India in the cases of electricity and roads. Even with better market connections, remote areas may continue to lack economic opportunities, due to the absence of agglomeration economies and complementary inputs such as human capital. Accordingly, reducing transport costs alone may not be sufficient to drive economic transformation in rural areas. The spatial dimension of transformation is particularly relevant for transport, both internationally—by enhancing trade integration—and within countries, where economic development tends to drive firms and jobs toward urban centers, benefitting from economies scale and network effects. Turning to organizational transformation, evidence on skill bias in developing countries is more mixed than in developed countries and may vary considerably by context. Further research, especially on the possible reasons explaining the differences between developed and developing economies, is needed. |
| Date: | 2025–04–03 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:wbrwps:11096 |
| By: | Guada, Irwin; Harvey, John; Mateos, Angel |
| Abstract: | The goal of this report is to conclude the project titled “Quieter Pavement Long-term Monitoring” by completing the measuring of noise and smoothness on previously built jointed plain concrete pavements (JPCP), surfaced with conventional diamond grinding (CDG) or the new grind and groove (GnG), and on continuously reinforced concrete pavement (CRCP). Previous studies have initiated the investigation into both the noise properties of GnG and CRCP. This project gathered data in 2018 and again in 2020 on the performance of these concrete pavements in terms of noise and smoothness. These data were added to the noise database to further the development of specifications, guidelines, and standardized field test methods toward quieter pavements. The GnG technology on test sections in Caltrans pilot projects was evaluated in terms of measured tire/pavement noise, smoothness, friction, and surface drainability. The results of this study are to be used to further incorporate quieter pavement research into standard Caltrans practice and may serve as a basis for changes in quieter pavement policy and specifications. This report presents the results of four rounds of testing, two rounds completed in 2018 and 2020 on sections first tested in 2012 and 2013 and again in 2016 and 2017. Recommendations include continued monitoring of GnG, considering use of GnG on CRCP, and continued use of diamond grinding. These recommendations are based on functional performance and do not consider cost-effectiveness compared with other potential strategies. |
| Keywords: | Engineering, noise, On-Board Sound Intensity (OBSI), International Roughness Index (IRI), smoothness, grind and groove (GnG), conventional diamond grinding (CDG), continuously reinforced concrete pavement (CRCP) |
| Date: | 2025–04–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt6bq1367s |