Context sensitive multimodal road planning: a case study in Cape Town, South Africa

Road planning practice relies almost exclusively on parameters related to traffic factors, such as private vehicle speeds and volumes. In many developing countries the requirements for public transport and non-motorised transport are not explicitly integrated into the planning process, despite the fact that these form the primary mode of transport for the majority of the population. This affects the mobility opportunities for these sectors of the population and contributes to poor road safety, especially with regards to pedestrians. The research outlined in the paper posits that, in order to assess the usage and needs of the road holistically, other factors related to the adjacent land uses, socio-economic characteristics of the population the road serves, and the environmental context within which the road is located, factors heavily in how the road is used and should, therefore, be considered within the planning process. The paper describes a methodology to include these factors in the planning of roads. The method attempts to prioritise amongst the five primary road based modes (public transport, car, freight, walking and cycling) based upon a combination of traffic and non-traffic factors. The method employed uses a geographic information system (GIS) based spatial multiple criteria evaluation (SMCE) model with inputs from widely available data sources such as census, household travel surveys, land use and environmental data to arrive at solutions for modal priorities. A case study is conducted along an arterial route in Cape Town, South Africa, providing infrastructure planning recommendations and audit possibilities for the future. Since weighting is an important driver in the SMCE process, a sensitivity analysis is conducted to investigate the effect of alternative weighting schemes on the outputs from the method.     

OTC MARKET SWITCHING AND STOCK RETURNS: SOME EMPIRICAL EVIDENCE

In this study the effect on the common stock returns of 278 firms that switched OTC market segments from 1982 to 1987 is examined. It is hypothesized that abnormally positive returns are associated with news of the move from the NASDAQ to the NASDAQ National Market System (NMS) and that the market responds more favorably during pre-NMS inclusion for stocks with low versus high liquidity before switching. Using event study methodology, results support these hypotheses. Unlike post-listing studies, the evidence reveals no anomalous return behavior during the post-NMS inclusion period studied.     

A Comparative Study of the Benefits of Applying Target Cost Contracts Between South Australia and Hong Kong

This article aims to identify and analyze the key benefits of adopting Guaranteed Maximum Price and Target Cost Contracts (GMP/TCC) over and above the traditional lump‐sum contractual arrangement through an empirical questionnaire survey conducted in South Australia and compared with the findings in Hong Kong. The Mann‐Whitney U Test indicated differences in perception between the two groups of respondents on the majority of the identified benefits. The study has provided an in‐depth understanding of the perceived benefits of the GMP/TCC scheme, hence leading to a wider application of those alternative integrated procurement strategies in both regions for reference by the construction community at large.