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ABSTRACTManuscript Type: EmpiricalResearch Question/Issue: We examine the relation between independence of audit committee and firm value with a sample of Fortune 200 companies.Research Findings/Insights: Using a sample of Fortune 200 companies and defining top executives of other publicly traded firms as expert‐independent directors and controlling for firm specifics, board features, and individual director characteristics, we find the presence of expert‐independent directors on board and in the audit committee enhances firm value.Theoretical/Academic Implications: We provide empirical evidence to show that by focusing on this restricted definition of independent directors (expert‐independent directors), we are able to examine independence in both the board and audit committee in a different light.Practitioner/Policy Implications: We offer new insights to relate firm value of the composition of audit committee. When expert‐independent directors are of majority control of audit committee, finance‐trained directors improve firm value almost five times to that of firms with independent audit committee alone.

The airport at the Kai Tak district was relocated to Chek Lap Kok in 1998. The Hong Kong Government endeavors to redevelop Kai Tak into a mixed-use community. A total of eight fatal construction accidents have happened since the Kai Tak Development (KTD) commenced in 2013, and seven of them occurred between 2020 and 2021. The alarming figures call for an in-depth investigation of fatal accidents, hence the aim of the current research. Detailed accident investigation reports that outlined accident causation and preventive measures for the eight accidents were collected. With a detailed examination of validity and reliability, the modified loss causation model was applied to analyze the situational variables, incident sequences, and causes of accidents. The results showed that "fall" and "struck by" were the most common accidents in the KTD. Several risk factors for fatal accidents were identified, including "aging workers", "new to a construction site", "ethnic minority", "illegal worker", "working on weekends", and "subcontracting companies". Preventive measures were offered to help government authorities and construction practitioners enhance the safety performance of the ongoing KTD projects. This study contributes to the knowledge of construction safety by identifying safety issues of mega interfacing projects. The practice of learning from accidents should be promoted in order to prevent similar accidents from occurring again.

Over the last ten years public private partnerships have become ever more popular worldwide, expanding the body of experience among construction professionals, government agencies, and industry. In these economically challenging times, PPP has emerged as a crucial framework for providing infrastructure, and also to boost construction industry activity, while shielding the taxpayer from some of the cost. Understanding the lessons learnt is essential to ensuring the success of future projects, and this timely book will prepare the reader to do just that.Starting by defining PPP itself, part one is designed to help the novice to get to grips with the basics of this topic. Part two tackles the practicalities of PPPs, including successful implementation, managing the risks involved, and how to assess the suitability of a project for the PPP route. Part three presents detailed case studies from Asia, Africa, and Australia to illustrate how PPPs should be managed, how problems emerge, and how PPPs can differ across the world.Drawing on extensive internationally conducted research, from both industry and academia, the authors have written the essential PPP guide. Taking into consideration the perspectives of those in the public sector and the private sector, as well as built environment professionals, it is essential reading for anyone preparing to work on public private partnerships in construction.