Project Abandonment Research Articles

Ranking of Effects of Construction Delay: Evidence from Malaysian Building Projects

Abstract The problem of delay is a regular phenomenon in construction projects all around the world and the Malaysian building projects has no exclusion. The aim of this paper is to determine and rank the effects of delay in Malaysian building projects with respect to their Relative Importance Index. Literature review and questionnaire survey were used to gather data for this study. A thorough literature review was performed to identify the common effects of delays in building construction projects. A questionnaire was distributed among key project participants; contractors, clients and consultants, to rank the effects of delay in Malaysian building projects based on the perception of survey respondents. In total 300 questionnaires were distributed, as a result of 240 questionnaires were received. The collected data of questionnaire survey was analysed using statistical software SPSS. In total, 17 effects of the delays have been determined and findings from the survey revealed that time overrun, cost overrun, dispute, loss of profit, arbitration, claims, contract termination, litigation, poor quality of work, and total project abandonment were the main effects of delay in Malaysian building projects. The findings of this study might encourage construction stakeholders to focus on the issue of delays in building projects.

Assessment of factors influencing the failure and abandonment of multi-storey building projects in Nigeria

PurposeThe failure and abandonment of construction projects have proven to be insurmountable problems incessantly militating against the efficient performance of the construction industry in Nigeria. The complexity, technicality and a host of other project execution issues unique to multi-storey building projects do increase their susceptibility to failure and abandonment. Thus, the purpose of this paper is to examine the factors influencing failure and abandonment of multi-storey building projects in Nigeria. This is with a view to provide inferential empirical data that could enhance successful delivery of multi-storey building projects in Nigeria.Design/methodology/approachPrimary data were used for the study. A structured questionnaire was administered on consultants and contractors’ personnel within Lagos State, Nigeria. A total of 180 copies of the questionnaire were administered ,and 134 copies which represent a combined response rate of 74.4 per cent were retrieved. The data were analysed using frequency distribution and percentages, Mean item score and factor analysis.FindingsThe factors most significant to the failure and abandonment of multi-storey building projects are inadequate funding by the client, improper planning at the pre-construction phase, structural failure in multi-storey building during construction, bankruptcy/business failure of the contractor, improper scheduling of the building project activities and failure to engage qualified professionals with technical expertise and experience. The rated factors clustered under human resources capability, planning and structural quality, contractor selection and variation, insecurity and variation, and force majeure and political risk.Research limitations/implicationsThe study was limited to multi-storey building projects in Lagos State, Nigeria. Further studies could focus on specific resuscitation strategies for abandoned multi-storey building projects.Practical implicationsThe study provided implications for effective project and contract management of multi-storey building projects which is very paramount to improve the delivery of complex, technical- and capital-intensive building projects in Nigeria.Originality/valueThe study provides specific implications for the management of multi-storey building projects, thereby enhancing the delivery of building projects.

Variation Mitigation Model to Enhance Construction Performance of Public Building Projects in Tanzania

Detrimental variations are variations which negatively impact the project performance resulting into scenarios such as cost overruns, time overruns, project abandonment, rework, disruption and conflicts. These scenarios have led to non-fulfillment of project objectives. The objective of the study was to develop a mitigation model that helps to mitigate detrimental variations in public building projects in Tanzania. Specifically, the research question was how can detrimental variations be minimised in building projects? Literature review was carried out. Data were collected using questionnaire survey, group discussion and case studies. In total, 143 professionals (architects, engineers, quantity surveyors and procurement officers) participated in the survey. Statistical analyses such as Analysis of Variance (ANOVA), T-test analysis, Spearman’s rho correlation analysis and Principal Component Analysis (PCA) were used to analyse data and obtain relationships of variables. The analysis generated significant independent and dependent variables that formed the basis for the developed detrimental variation mitigation model. The model was validated through focus group discussion to test the model’s usefulness, clarity and applicability. Findings from case studies suggest that building projects suffered detrimental variations. The developed model when used significantly contributes to reduction of detrimental variations. Project parties should use the developed best practice model to enhance performance of construction projects.

Investigation on factors that contribute to the abandonment of building in construction industry in Malaysia

In Malaysia, the construction sector is one of the important sectors that contribute to economic growth and employments. However, a major concern facing the construction industry is the growing rate of delays in project delivery. In the worse cases, the projects were abandoned due to some reasons when the contract period ended. Abandoned building defines as construction work that has been continuously stalled for 6 months or more, during the project completion period or beyond the scheduled date of completion. When the projects become abandoned, it gives an adverse effect on many parties such as the developer, contractor, consultant and also client. According to previous researchers, the abandonment of building causes a serious problem and need some mitigation plan to avoid this problem from occurring. This study will investigate the fundamental factors that contribute to the abandonment of building and projects in Malaysia based on the current data of the abandoned building in most states in Malaysia. The data was collected from the respondents who is in the construction industry and had experience working with abandoned housing project. Form the respondents perspective, it shows that the main factor contribute to the building abandonment is due to the financial problem facing by the developer company.

Field, ethics and self: negotiating methodology in a Hindu right wing camp

ABSTRACTThere is a luxury in self-reproach. When we blame ourselves, we feel that no one else has a right to blame us. It is the confession, not the priest, that gives us absolution. (Oscar Wilde, The Picture of Dorian Gray)Feminist research methodology has made a strong case for emotionality as a legitimate part of not only the research process but also, as a valid addition to the data gathered. Research in risky environments presents tangible threats in the form of physical and mental exhaustion, and harm. It also becomes an avenue to confront emotions that go beyond the encounter with change. These emotions are extremely personal but contain within them the potential to threaten the researcher's mental well-being (in the form of trauma or shock), the ethics guiding the research or abandonment of the research project. This article concurs with Lal's [Lal, J. (1996). Situating locations: The politics of self, identity, and ‘other’ in living and writing the text. In D. L. Wolf (Ed.), Feminist dilemmas in fieldwork (pp. 185–214). Boulder, CO: Westview Press] assertion that we need to go beyond reflexivity during the research process and use it for ‘political action’. By using data collected during participant observation at a camp that was conducted by the women's group associated with the largest Hindu nationalist organisation in India, the article attempts to situate the emotion of guilt as an inseparable part of the research experience and makes a case for utilising it not only for more ethically sound research but also, an honest and empowering research process.

Racionalismo y retórica en Filodemo de Gadara

En este artículo analizaré algunos aspectos específicos de la obra de Filodemo de Gadara desde la perspectiva de la dimensión retórica del discurso filosófico con el fin de mostrar que el empleo que hace este pensador de ciertos dispositivos retóricos: i) no implica necesariamente un rompimiento con las normativas epicúreas respecto del uso legítimo de la retórica, ii) ni debe leerse como un abandono del proyecto racionalista epicúreo, sino que iii) puede interpretarse como expresión de una concepción sumamente rica y compleja de la racionalidad humana que incorpora las capacidades descriptivas del lenguaje como herramientas esenciales en la transmisión de la información relevante para la toma de decisiones.

FIBER REINFORCED SAND BACKFILL FOR UNDERGROUND PEDESTRIAN CROSSINGS

Crosswalk is an essential element of the transport system of any city. A priority assignment in any such crossing is to ensure the safety of pedestrians. Underground pedestrian crossings are much safer than crossings at another level, but they lose in attraction when it comes to cost. The cost of the construction of an underground pedestrian crossing often leads to project abandonment. The cost of construction can be reduced through the use of flexible corrugated metal structures instead of ordinary concrete structures. The stress-strain state of the structural shells need to be known to facilitate their rational design. The stress-strain state of flexible corrugated metal shells largely depends on the strength and deformation characteristics of the surrounding soil. Therefore, improving the characteristics of backfill soil is an urgent task in reducing the cost of construction for such tunnels. One way to improve the strength and deformation characteristics of soils is the use of reinforcement. Currently, there are a large number of reinforcement schemes and also associated reinforcing materials. One of the most prospective methods of soil reinforcement is the use of fibre filaments. Fibre reinforced soils have significantly higher strength and deformation characteristics in comparison with unreinforced soils. Numerical modelling of a tunnel shell made out of a corrugated metal structure was undertaken to evaluate the effectiveness of using fibre reinforced sand. Ordinary sand and sand reinforced with polypropylene fibres have been used as soil backfill. The calculation results for a pedestrian tunnel structure involving different strength and deformation characteristics of the backfill soil are presented in this article.

RISK ALLOCATION MECHANISM FOR BUILDING PROJECTS BASED ON THE RIBA PLAN OF WORK

The Zambian construction industry, like many other construction industries in developing countries, is characterized with frequent project failure evidenced by quality shortfalls, cost overruns, time overruns and, on occasion, abandonment of projects. Various construction industries, particularly developed ones, have mechanisms in place to alleviate the aforementioned risks. Moreover, it has been reported that construction organizations in developing countries, approach risk management implied risk allocation in construction projects by using a set of practices that are normally insufficient, often produce poor results, and limit the success of project outcome. It is from this background that a risk allocation mechanism tailored to the Zambian building sector is proposed, based on the RIBA plan of work for new large to medium sized projects. Various mechanisms and processes are documented in the existing literature, all developed for particular jurisdictions, project types and modes of procurement. Though beneficial, the crafting of most of these mechanisms does not focus on curtailing sources of inappropriate risk allocation, but rather focuses on who, between the client and contractor, should be allocated a particular risk. This paper documents a mechanism for risk allocation after establishing the causes of risk misallocation through a questionnaire survey, interviews, and document analysis. The mechanism integrates contract practice and risk management to make it robust for alleviating both contractual and non-contractual risks. However, its utility, to an extent, is dependent on the risk perceptions of the user as it is driven by decision-making.

Assessment of causative factors for project abandonment in Nigerian public tertiary educational institutions

PurposeAbandonment of construction projects is still a burning issue in Nigeria. Beside the poor financing of educational infrastructure, abandonment of construction projects remains a significant contributor to the inadequacy of facilities in Nigerian public tertiary educational institutions. The purpose of this paper is, therefore, to assess the causes of abandoned projects specific to public institutions of tertiary education in Nigeria, with a view to providing empirical data that are generalizable to enhancing successful delivery of teaching and research facilities.Design/methodology/approachPrimary data used for the study were obtained through questionnaires administered to 47 professionals comprising 8 architects, 12 mechanical and electrical engineers, 15 civil/structural engineers, 4 builders and 8 quantity surveyors who were involved in physical development of construction projects in public tertiary educational institutions in Osun State. The data were analyzed using mean analysis, factor analysis and the Kruskal-Wallis (K-W) test.FindingsThe factors most significant to abandonment of tertiary educational institutional projects were delayed payments, fund mismanagement, inadequate budgetary allocation, inadequacy of finance, inflation and bankruptcy of the contractor. Findings also showed that not all factors causing abandonment were significant to tertiary institutional projects. The significant factors clustered under stakeholders’ response capacity, poor financial management, inadequate planning and monitoring, and unexpected occurrences. The K-W test showed significant differences among the categories of tertiary institutions on the ranking of the most significant causes of abandoned projects.Research limitations/implicationsThe study was limited to public tertiary educational institutions in Osun State. Further studies could focus on public health institution projects and private tertiary educational projects to improve the body of knowledge on the subject of causative factors for project abandonment.Practical implicationsThe study provided implications for effective contract management of public tertiary educational institutional projects, which is a significant step to improving the available teaching and research facilities in Nigerian tertiary institutions.Originality/valueThe study provides implications for effective contract management systems of projects for public tertiary educational institutions, thereby improving the available teaching and research facilities.

One Lab, Two Firms, Many Possibilities: On R&D Outsourcing in the Biopharmaceutical Industry

We draw from documented characteristics of the biopharmaceutical industry to construct a model where two firms can choose to outsource R&D to an external unit, and/or engage in internal R&D, before competing in a final market. We investigate the distribution of profits among market participants, and the incentives to coordinate outsourcing activities or to integrate R&D and production. Consistent with the empirical evidence, we find that the sign and magnitude of an aggregate measure of direct (inter-firm) and indirect (through the external unit) technological externalities drives the distribution of industry profits, with higher returns to the external unit when involved in development (clinical trials) than in early-stage research (drug discovery). In the latter case, the delinkage of investment incentives from industry value, together with the ability of firms to transfer risks to the external unit, imply a vulnerability of early-stage investors’ returns to negative shocks, and the likely abandonment of projects with economic and medical value. We also find that competition in the equity market makes a buyout by one of the two firms more profitable to a research biotech than to a clinical services unit, and can stimulate early-stage investments. However, this long-term incentive can be minimal, notably if the superior efficiency of outsourced operations originates from economies of scope that can hardly be exploited when a firm takes control of the external unit exclusively for itself. R&D outsourcing thus does not always qualify as a relevant pathway to address the declining productivity in innovation that has characterized the industry over several decades.

Project failures and innovation performance in university–firm collaborations

The main aim of this paper is to analyze the factors affecting the likelihood of the failure of innovation projects (delay or abandonment) and the relation between project failure and innovation performance. Specific emphasis is given to the role of collaboration in general, and to collaboration with universities and public research institutions (PRI) in particular. We use data about German firms for the period 2002–2005, merging the results of two successive Community Innovation Surveys. We show that collaboration is associated with the Delay and, to a lesser extent, the Abandonment of innovation projects. Collaboration with PRI does not increase either the likelihood of project failure or the innovation performance, compared to collaboration with firms. We also show that there is a positive relation between the delay of projects and the innovation performance of firms. The occurrence of delays can be considered as a sort of ‘necessary’ cost in order to raise the level of innovation performance.

Predicting likelihood of cost overrun in educational projects

PurposeBeing able to predict the likelihood of a project to overrun its cost before the contract signing phase is crucial in developing the required mitigating measures to avert it. Known parameters that permit the timely prediction of cost overrun provide the basis for such predictions. Therefore, the purpose of this paper is to develop a model for forecasting cost overruns.Design/methodology/approachTen predictive variables known before the contract signing phase of a project are identified. Based on a survey approach, information on 321 educational projects completed are compiled. A multiple linear regression analysis is adopted for the model development.FindingsFive variables – initial contract sum, gross floor area, number of storeys, source of funds and contractors’ financial classification are observed to influence cost overruns. The model, however, yields a fairly weak coefficient of determination with a mean absolute percentage error of 30.22 and 138 per cent, respectively.Research limitations/implicationsThe model developed focussed on data only educational projects sampled from three out of the ten administration regions in Ghana based on a purposive sampling approach.Practical implicationsPolicy makers and construction managers working on public projects stand to gain tremendous assistance in formulating and strengthening their own in-house cost forecasting at the precontract phase based on “what if” analysis to generate various alternative predictions of cost overruns.Originality/valueConsidering the innate nature of cost overruns within the Ghanaian construction industry often resulting to project abandonment, this research presents a unique dimension for tackling cost overruns based on a predictive approach.

An incrementalist approach to political philosophy. The case of heterogeneous rationality assumptions in theories of distributive justice

The main goal of the thesis is to provide a framework for the pursuit of normative inquiries in the field of political philosophy, which bridges ideal and non-ideal theory by accommodating both types of approaches and by providing a blueprint for the transition between ideal and non-ideal theory. This blueprint is subsequently used to examine the various ways in which principles of distributive justice are dependent upon certain idealised assumptions and the ways in which such principles would be affected by the transition from ideal to non-ideal theory. A secondary goal of the thesis is to explore to what extent we can draw on various developments from social sciences (and particularly for this thesis, from neoclassical and behavioural economics) to engage in meaningful analyses of theories belonging to the field of political philosophy (and particularly for this thesis, theories of distributive justice). Aside from the provision of a theoretical background concerning the topic of distributive justice (chapter 2), the thesis consists of two main parts.In the first part (chapter 3), I propose and defend a novel methodological approach for pursuing normative inquiries, which aims to bridge ideal and non-ideal theory and provide a framework for the systematization of knowledge in political philosophy. The core ideas of the approach are that: (1) political philosophy should be concerned with both short term goals, such as addressing severe injustices in the present world and long term goals, such as moving towards gradually more just states of the world in the long-run and (2) an appropriate way to satisfy these aims in a systematic manner is to build a landscape of normative models through incremental derivation (i.e., making the assumptions of a model more or less fact-sensitive one at a time) and selecting to pursue the best path that we might take from mitigating problems of severe injustice in the current state of the world to the achievement of perfect justice. The subsequent chapters, which together compose the second part of the thesis, are then designed to expose various ways in which normative principles are dependent on certain assumptions, thereby illustrating the problems which may arise in the transition from ideal to non-ideal theory. All cases studied refer to the connection between principles of distributive justice and assumptions concerning rationality.In chapter 4 I challenge the Rawlsian assertion that each party will have a first-ranked preference for an identical set of principles of justice behind the veil of ignorance, claiming that the original position allows parties to choose on the basis of a plurality of conceptions of rationality and allows choices based on the assignment of different weights to social positions, which in turn may lead to a reasonable disagreement concerning the conception of justice selected. I then argue that this reasonable disagreement does not entail an abandonment of the contractualist project, but its reconstruction in the form of a two-stage process, where parties first construct an individual preference hierarchy for alternative conceptions of justice and then work towards the reconciliation of the divergent conceptions that are chosen in the first stage. Finally, I claim that the threshold prioritarian view is the most plausible candidate for selection in this reconciliatory stage, since it manages to address both the legitimate complaints of parties that would prefer a conception of justice focused on the most disadvantaged positions in society as well as the legitimate complaints of parties that would prefer a conception of justice in which less or no special weight is assigned to the worst-off positions. This result illustrates the more general claim that, in some cases, incrementally modifying the inputs of a normative model may lead to a change in the principles generated by that model.In chapter 5 I seek to assess the responses provided by several theories of sufficientarian justice in cases where heterogeneous assumptions concerning individual rationality are introduced. …

Youths Involvement in Self-Help Community Development Projects (SHCDPs) in Nsukka, Enugu State, Nigeria

<p>In developing countries like Nigeria, every citizen has the right to be involved in any development activities that is targeted at meeting the “felt needs” of their community rather than wait endlessly for government intervention. Self-help community development activities like construction and maintenance of community roads and rural electrification among others, are expected to be facilitated by all the stakeholders in the community, including the youths who are legitimately the future custodian of the welfare of their community and the greatest investment that can be utilized to mobilize local material resources for the community as well as the country’s development. This study therefore poses that, if youths are recognized as clear assets in self-help community development projects, the youths with their wealth of experiences and energy can be engaged effectively in meaningful tasks for the improvement of their environment. Thus, the issue of youth migration or abandonment of projects can also be ameliorated. Quantitative and qualitative data were collected on self-help projects embarked on in the communities studied, areas of youths involvement in self-help projects and the constraints encountered by youths. Findings of the study revealed that the Nsukka communities studied embarked on rural electrification, construction of boreholes and water drainage facilities among others; the areas of youths involvement in self help community projects was low; while youths not given free hands to be involved in SHCPs and parents not allowing their youths to be involved in SHCPs among others, were constraints to youths involvement in self help community projects. Recommendations were made based on the findings of the study.</p>

Exploration Decision-Making on Energy Based On Improved Real Option Model and BP Neural Networks

Based on real options method to construct a petroleum exploration and development projects of integrated economic evaluation model, application mechanism real option method in oil and gas exploration and development projects around the expansion, the option value to identify and analyze the process of exploration and development projects exist. Finally, select the appropriate option pricing model, instance data analyzed by gas exploration and development projects, and its contrast with the traditional analysis, pointed out that application of real options method can effectively improve the investment project economic evaluation of science. In this paper, to build an economic evaluation method based on real options method of energy development projects, and to explore applications based on the principle of real options to develop economic evaluation method, proposed mostly for exploration stage oil and gas exploration and development project abandonment option binomial model and the development phase stop start option of partial differential equations, is determined based on the actual parameters of such projects, and to provide solutions to parameter estimation.

Professional view on the causes and effects of construction projects abandonment in Ibadan metropolis, Nigeria

Professional view on the causes and effects of construction projects abandonment in Ibadan metropolis, Nigeria

Rank-Order Analysis of Factors Causing Claims on Road Construction Projects in Botswana

Claims are considered to be one of the most serious disruptive forces to successful project delivery in the construction industry. In a small developing economy like Botswana, it is germane to identify the sources and the frequency of occurrence of claims so that the burden of project cost overrun, a hallmark of the country’s construction industry is substantially reduced. Detailed literature review and preliminary field investigations were used to identify causes of claims related to road construction projects. The study identified six major types of claim and twenty seven causes of claims. Using questionnaire as research instrument, respondents (construction industry major stakeholders i.e. clients, consultants and contractors) were asked to rank the frequency of occurrence of the types and causes of claims in road construction projects on a Likert-type scale. Relative importance index (RII) method was used to analyze the data collected from the questionnaire survey. The analysis was carried out for each group of respondents and on the overall results (all the parties combined). A total of 27 useful responses made up of nine clients, ten consultants and eight contractors) were analyzed. Findings indicated that the clients and consultants specified delay claims followed by extra work claims were the most frequent type of claims in the construction of roads in Botswana. Contractors perceived differing site conditions followed by delay claims as the most frequent type of claims. From the overall response, delay claims were ranked first followed by extra work claims. Acceleration claims were ranked least. The top five most frequent causes of claims based on overall ranking were: variation in quantities, design errors, poor site management and supervision by contractor, ineffective planning and scheduling of project by contractor, and low price of contract due to high competition. Construction industry research in Botswana has never looked into the issue of claims and yet it is one of the hidden sources of construction project failure in the country. It is perceived that hedging against the most adverse causes of claims will stem the tide of incessant cost overrun, litigation and project abandonment on road projects in Botswana.

ABANDONED HOUSING PROJECTS IN MALAYSIA: RISK MANAGEMENT CAPABILITIES DURING REHABILITATION

Rehabilitation is a key-initiative undertaken to overcome a prevailing problem in Malaysia that is the abandonment of housing projects during construction. However, rehabilitation is a complex process and involves various parties. The purpose of this paper is to identify critical risks during the rehabilitation process and to evaluate capabilities of main stakeholders in managing these risks. To achieve this objective, a questionnaire survey was used and targeted three groups, namely authorities, builders, and liquidators. The data were analyzed using Relative Importance Index (RII) and Chi-square to determine top ranking risks and risk categories. The results showed 18 risk variables and indicated Managerial Risk as the top risk category. The results also showed feeble risk management capabilities of the three groups. The findings of this paper attempt to fill a significant gap in the literature pertaining to this subject. The identification of the risks and capabilities pitfalls is expected to provide invaluable information to facilitate the rehabilitation process to complete the abandoned projects successfully.

Analysis of causes and impact of variation order on educational building projects

Purpose Construction process is complex and traditionally fragmented; thus, it is almost impossible to have a project completed without changes to the original plan or the construction process. The purpose of this study is to identify and examine the causes of variation orders, ascertain their effects and establish the cost and time performance implication as a result of variation orders. Design/methodology/approach This study obtained information from 90 construction stakeholders on 30 completed educational building projects to ascertain the causes and effects of variation orders on project delivery using questionnaire survey. In addition to this, a pro forma document was designed to obtain the project characteristics, cost and time data from these 30 completed educational building projects. Factor analysis was used to categorise the causes of variation orders, while severity index was used to examine their effects on project delivery. The hypothesised statement was tested using paired t-statistics to examine whether a statistically significant difference existed between variation orders, cost and time performance of the projects. Findings The study identified 13 main factors as causes of variation orders and the results revealed that the most frequent effects of variations were increase in construction costs, time, client dissatisfaction, increase construction project rework and demolition and project abandonment. The results also showed that variation orders had significant effects on both cost and scheduled performance of the educational building projects with average cost and time escalation of 33.95 and 29.45 per cent of the original project cost and time, respectively, for the entire projects studied, while average cost implication of variation orders is 23.79 per cent. Practical implications The findings in this study will be of assistance to government agencies and management of public works in higher institutions of learning in managing variations in construction projects. The study will also add to the current literature on the impact of variation orders on educational building projects in developing countries. Finally, it will create the much-needed awareness on the severity and implication of change or variation orders on project delivery. Originality/value The study identified and examined the causes of variation orders, ascertained their effects and established the cost and time effects of the causes of variation order on project performance. This will assist project initiators, contractors, consultants and other stakeholders to fully appreciate and understand the significant effects of variation orders on project performance.

Experienced Executives' Views of the Effects of R&D Capitalization on Reputation-Driven Real Earnings Management: A Replication of Survey Data from Seybert (2010)

ABSTRACTThis paper replicates the results of the survey of experienced executives reported in Section IV of Seybert (2010). The survey data from the originally published article were retracted due to concerns about the source of the data (see Seybert 2015). I survey 79 experienced executives to elicit their beliefs about reputation-driven real earnings management. Participants indicate that a manager would be more likely to continue a failing project, and that project abandonment would have a greater negative impact on the manager's reputation concerns and future prospects at the firm, when R&D is capitalized. Consistent with capital market pressures identified in prior research, executives believe that abandoning a failing project would have a greater negative impact on stock price when R&D is capitalized, and they personally recommend continuing such a project in order to avoid missing the consensus analysts' forecast. These findings complement the experimental results in Seybert (2010), and while they replicate the survey results contained therein, they are not an endorsement of the veracity of the original survey data.