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Although business and society are thought in a vicious relationship for diminishing trust among stakeholders, a few studies indicate the existence of a reciprocal nexus between corporate social performance and corporate financial performance, known as the "virtuous cycle". Despite of some empirical studies in developed countries, little research has been conducted concerning the assumption in emerging markets, where large companies have more responsibilities to create positive and sustainable-shared values. This paper aims to explore the nexus of Chinese companies for their global influential social and environmental impacts together with increasing awareness of corporate social responsibility (CSR). A two-step longitudinal design, including cross-lagged correlation analyses and longitudinal path analyses, is applied to examine the overall and decomposed links between corporate social performance and financial performance. It is found the virtuous cycle does exist in the overall and in most decomposed links within the context of large construction companies in China. These findings are beneficial for interested policy-makers, corporate managers, and the public to create shared value on CSR and therefore contribute to CSR improvements.Analysis results indicate a one-year time lag to be appropriate for examining the lead-lag relationship between corporate social performance and financial performance. The research also inspires a potential generalisation of the CSP-CFP nexus by similarly examining it in other industries or other countries with diverse CSR contexts.

Having a clear project definition is crucial for successful construction projects. It affects design quality, project communication between stakeholders and final project performance in terms of cost, schedule and quality. This study examines the relationship between project definition and final project performance through a structural equation model comprising 4 latent constructs and 6 path hypotheses using data from a questionnaire survey of 120 general contractors in the Malaysian construction industry. The results show that in the study population, all three items impact the project performance, but the link between design quality and project performance is indirect. Instead, the clarity of project definition affects project performance indirectly through design quality and project communication and design quality affects project performance indirectly through project communication. The primary contribution is to provide quantitative confirmation of the more general statements made in the literature from around the world and therefore adds to and consolidates existing knowledge. Practical implications derived from the finding are also proposed for various project stakeholders. Furthermore, as lack of the clarity of project definition is a very common occurrence in construction projects globally, these findings have important ramifications for all construction projects in expanding and clarifying existing knowledge on what is needed for the successful delivery of construction projects.