Purpose – The purpose of this paper is to examine a series of environmental factors and industrial conditions governing the construction industry in China. The outcome of this part of the analysis sheds light on the development of appropriate competitive strategies and important resources and...

We construct a parsimonious test of constancy of the correlation matrix in the multivariate conditional correlation GARCH model, where the GARCH equations are time-varying. The alternative to constancy is that the correlations change deterministically as a function of time. The alternative is a...