Purpose With its impact already felt, the construction industry worldwide is gradually reviving following the lifting up of lockdowns amid the COVID-19 pandemic. Though some articles have been written regarding its impact on the construction industry in other countries, much is yet to be known concerning the current impact in Ghana. This study aims to examine the impact of COVID-19 on Ghana’s construction industry and assess how construction companies are contributing to the fight against COVID-19. Design/methodology/approach Semi-structured interviews with nine key professionals working with D1K1 firms currently working on projects of almost similar sizes within the confines of a reputable tertiary institution in Ghana were conducted over a span of three weeks. Thematic analysis was conducted with Nvivo 12 Pro Application software. Findings From the findings, the major impact includes: a decrease in work rate, delays in payments and an increase in the cost of materials arising from border closure. On the measures by construction companies in contributing to the fight against the pandemic, findings indicated: educating the workforce on the virus, the provision of PPEs, regular and effective checks on entry and exit from the site. Practical implications The study is significant, as knowledge of the impact posed by the pandemic will provide some idea of the measures to put in place to ensure the gradual to full recovery of the industry. Originality/value The originality of this study lies in the fact that it is a pioneering study on the impact of COVID-19 on the Ghanaian construction industry.

Purpose-Failures of Public-Private-Partnership (PPP) projects are often ascribed to the agency problem, which arise under conditions of inadequate and asymmetric information when a principal (the client) hires an agent (the contractor). This paper aims to identify the causes and effects of moral hazard and adverse selection on PPP construction projects using a synthesis of extant literature (to determine key variables) and analysis of survey questionnaire data collected. Design/Methodology/Approach-Mean score ranking was used to rank the causes and effects of moral hazard and adverse selection problems in PPP construction projects. One sample t-test was conducted to establish the relative significance of these variables. Findings-Effort dimensions (which are not verifiable), low transfer of risk, lack of accurate information about project conditions, wrong party chosen to execute project and renegotiation of contracts were the most significant causes of moral hazard and adverse selection problems in PPP construction projects. In addition, reduction of competition, high transaction costs, consequences on profitability of project, siphoning of funds and negative implications on enforceability of contract were the most significant effects of moral hazard and adverse selection problems in PPP construction projects. Originality/Value-Research findings provide guidance to construction stakeholders in the PPP sector on the different causes and effects of adverse selection and moral hazard. This pioneering study is the first to conduct an empirical assessment of the causes and effects of moral hazard and adverse selection of PPP construction projects in a developing country. Practical Implications-Application of these findings will help to mitigate moral hazard and adverse selection problems occurring when undertaking PPP construction projects.

Purpose Conditions of inadequate and asymmetric information when an agent is hired by a principal have resulted in the problems of moral hazard and adverse selection (MHAS) in public–private partnership (PPP) construction projects. The purpose of this study is to explore strategies to reduce MHAS in PPP construction projects. Design/methodology/approach Questionnaires were used to elicit responses from respondents. Mean score ranking was used to rank these strategies while reliability analysis was conducted using Cronbach’s alpha coefficient and level of agreement tested using Kendall’s concordance. Factor analysis grouped the strategies into eight components. Findings From the mean score ranking, monitoring; transfer of risks; screening; managing of construction risks; and increased incentives to control costs were the most significant strategies. The eight components were transparent process and contract, incentives and monitoring, screening and technical assistance, unbundling and benchmarking, funding and small liabilities, information clarification and signaling, risk and contract management and cooperation and finance factors. Practical implications The findings of this study have identified the most significant strategies to reduce MHAS on PPP construction projects to serve as a guide to PPP practitioners in reducing MHAS. Originality/value The output of this research contributes to the checklist of strategies that reduce PPP project failures arising from MHAS and contributes to the development of the agency theory.

Purpose Inefficiencies in the power sector resulting from underinvesting and underselling reduce the ability of governments to adequately finance energy projects. The purpose of this paper is to explore mechanisms of energy financing, benefits and challenges associated with innovative financing of energy infrastructure as well as strategies to improve innovative financing of energy infrastructure. Design/methodology/approach Questionnaires were used to elicit responses from respondents. Seventy-eight responses were retrieved. Mean score ranking, Kruskal–Wallis test and discriminant validity were the analysis conducted. Findings Partial credit guarantee; partial risk guarantee; credit enhancement; and loan guarantees were the significant mechanisms. Production efficiency; reduce pressure on public budgets; access to management expertise; and self-sustainability of infrastructure facilities were the significant benefits. Lack of transparency and adequate data for risk assessment; high up-front cost; heterogeneity, complexity, and presence of a large number of parties; and lack of a clear benchmark for measuring investment performance were the severest challenges. Complete transparency and accountability; political stability and public view on private provision of energy infrastructure services; and macroeconomic environment were the significant strategies. Practical implications This study is beneficial to energy sector as the current government of Ghana hints on willingness to involve private sector in management of the power sector. Originality/value The novelty of this study is that it is a pioneering study in Ghana on innovative financing of energy infrastructure.

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