Capital control as institutional integrator: fuzzy Delphi and PLS-SEM evidence on its mediating role between capital management practices and schedule performance in public road infrastructure

While construction management research extensively examines project-level schedule determinants, it overlooks institutional financial governance mechanisms regulating capital flows in public projects. This study examines how capital control mediates relationships between four capital management practices __ capital plan alignment, capital allocation, capital plan implementation, and implementation accountability __ and schedule performance in public road infrastructure. Using fuzzy Delphi method, 33 management practice indicators were validated with 12 expert panelists, then tested via partial least squares structural equation modeling with data from 189 Vietnamese professionals. Findings reveal that capital control fully mediates the effects of capital allocation, capital plan implementation, and implementation accountability on schedule performance, whereas capital plan alignment shows no significant effect on schedule performance, either directly or through capital control; together, the hypothesized model explains 40.3% of variance in schedule performance. These findings reconceptualize schedule performance as institutional financial governance outcome, theorize capital control as dynamic integrator synchronizing strategic, allocative, executional, and governance functions, and differentiate between fully mediated and non-significant pathways across capital management functions. Strengthening capital control through integrated monitoring, transparent allocation criteria, and synchronized reform packages can significantly improve schedule adherence, particularly in emerging economies with institutional fragmentation.

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Publication Details

Journal
Research in Transportation Business & Management
Published
2026-10-15
DOI
https://doi.org/10.1016/j.rtbm.2026.101903
Primary Topic
Construction Project Management and Performance
Type
article
Field-Weighted Citation Impact
0.00
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article

Capital control as institutional integrator: fuzzy Delphi and PLS-SEM evidence on its mediating role between capital management practices and schedule performance in public road infrastructure

Luong Hai Nguyen, Luong Trung Nguyen, Do van Thuan, Phuong Anh Nguyen
Research in Transportation Business & Management
Construction Project Management and Performance
article

Capital control as institutional integrator: fuzzy Delphi and PLS-SEM evidence on its mediating role between capital management practices and schedule performance in public road infrastructure

Luong Hai Nguyen, Luong Trung Nguyen, Do van Thuan, Phuong Anh Nguyen
article en

Abstract

While construction management research extensively examines project-level schedule determinants, it overlooks institutional financial governance mechanisms regulating capital flows in public projects. This study examines how capital control mediates relationships between four capital management practices __ capital plan alignment, capital allocation, capital plan implementation, and implementation accountability __ and schedule performance in public road infrastructure. Using fuzzy Delphi method, 33 management practice indicators were validated with 12 expert panelists, then tested via partial least squares structural equation modeling with data from 189 Vietnamese professionals. Findings reveal that capital control fully mediates the effects of capital allocation, capital plan implementation, and implementation accountability on schedule performance, whereas capital plan alignment shows no significant effect on schedule performance, either directly or through capital control; together, the hypothesized model explains 40.3% of variance in schedule performance. These findings reconceptualize schedule performance as institutional financial governance outcome, theorize capital control as dynamic integrator synchronizing strategic, allocative, executional, and governance functions, and differentiate between fully mediated and non-significant pathways across capital management functions. Strengthening capital control through integrated monitoring, transparent allocation criteria, and synchronized reform packages can significantly improve schedule adherence, particularly in emerging economies with institutional fragmentation.

Research in Transportation Business & ManagementVol. 70
Hanoi University of Industry (VN)
Industry, innovation and infrastructure, Sustainable cities and communities
Openalex Percentile: Top 10%
Construction Project Management and Performance
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