Abstracts – Browse Results
Click on the titles below to expand the information about each abstract.
Viewing 13 results ...
Ammar, M A (2013) LOB and CPM Integrated Method for Scheduling Repetitive Projects. Journal of Construction Engineering and Management, 139(01), 44–50.
Bynum, P, Issa, R R A and Olbina, S (2013) Building Information Modeling in Support of Sustainable Design and Construction. Journal of Construction Engineering and Management, 139(01), 24–34.
Cheung, S O and Pang, K H Y (2013) Anatomy of Construction Disputes. Journal of Construction Engineering and Management, 139(01), 15–23.
Cho, K and Hastak, M (2013) Time and Cost–Optimized Decision Support Model for Fast-Track Projects. Journal of Construction Engineering and Management, 139(01), 90–101.
Dai, F, Rashidi, A, Brilakis, I and Vela, P (2013) Comparison of Image-Based and Time-of-Flight-Based Technologies for Three-Dimensional Reconstruction of Infrastructure. Journal of Construction Engineering and Management, 139(01), 69–79.
Gosling, J, Naim, M and Towill, D (2013) Identifying and Categorizing the Sources of Uncertainty in Construction Supply Chains. Journal of Construction Engineering and Management, 139(01), 102–10.
Li, H, Arditi, D and Wang, Z (2013) Factors That Affect Transaction Costs in Construction Projects. Journal of Construction Engineering and Management, 139(01), 60–68.
Meduri, S S and Annamalai, T R (2013) Unit Costs of Public and PPP Road Projects: Evidence from India. Journal of Construction Engineering and Management, 139(01), 35–43.
Minchin, R E, Cui, S, Walters, R C, Issa, R and Pan, J (2013) Sino-American Opinions and Perceptions of Counterfeiting in the Construction Supply Chain. Journal of Construction Engineering and Management, 139(01), 1–8.
Rubio-Romero, J C, Rubio, M C and García-Hernández, C (2013) Analysis of Construction Equipment Safety in Temporary Work at Height. Journal of Construction Engineering and Management, 139(01), 9–14.
Tsolas, I E (2013) Modeling Profitability and Stock Market Performance of Listed Construction Firms on the Athens Exchange: Two-Stage DEA Approach. Journal of Construction Engineering and Management, 139(01), 111–9.
- Type: Journal Article
- Keywords: Construction companies; Profits; Contracts; Financial factors; Greece; Construction firms; Profitability efficiency; Stock market performance; Data envelopment analysis; Contracting license class; Greece;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000559
- Abstract:
The purpose of this paper is to evaluate the performance of a sample of nineteen construction firms listed on the Athens Exchange by applying a two-step procedure. In the first step, data envelopment analysis (DEA) is used to model performance in two dimensions: profitability efficiency and efficiency in the market value-generating process. This allows the independent identification of the most efficient level of input in minimizing resources and the most efficient level of output in maximizing market value, various benchmarks, and the local returns to scale patterns of the firms of the sample in both performance dimensions. Moreover, it is possible to examine whether a correlation exists between the performance efficiency scores. In the second step, regression models are used to identify the drivers of performance. Performance inefficiency is uncovered in both dimensions, but the real problem of inefficiency of the sampled firms is the lower level of performance in the market value-generating process rather than profitability. The results revealed that profitability can be explained by selling and the administrative cost-to-total-revenue ratio and profit margin, but there is not much evidence for systematic effects of control variables on firm valuation. Results do not show positive links between profitability efficiency and performance in the stock market. Most of the large, inefficient firms exhibit decreasing returns to scale (DRS) in the profitability dimension, whereas most of the inefficient firms exhibit increasing returns to scale (IRS) in the stock market performance dimension. Moreover, there is potential for the firms of the sample that operate under non-DRS to accommodate and manage higher levels of business volume that will lead to increased level of market value. Implications of the study are also discussed.
Valdes-Vasquez, R and Klotz, L E (2013) Social Sustainability Considerations during Planning and Design: Framework of Processes for Construction Projects. Journal of Construction Engineering and Management, 139(01), 80–89.
Zeynalian, M, Trigunarsyah, B and Ronagh, H R (2013) Modification of Advanced Programmatic Risk Analysis and Management Model for the Whole Project Life Cycle’s Risks. Journal of Construction Engineering and Management, 139(01), 51–59.