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Aouad, G F, Kirkham, J A, Brandon, P S, Brown, F E, Cooper, G S, Ford, S R, Oxman, R E, Sarshar, M and Young, B A (1993) Information modelling in the construction industry: the information engineering approach. Construction Management and Economics, 11(05), 384-97.

Chau, K W (1993) Estimating industry-level productivity trends in the building industry from building cost and price data. Construction Management and Economics, 11(05), 370-83.

Kodikara, G W and McCaffer, R (1993) Flow of estimating data in Sri Lankan building contractor organizations. Construction Management and Economics, 11(05), 341-6.

Koo, T K and Tiong, R L K (1993) An expert system for assessing the performance of RC beams and slabs. Construction Management and Economics, 11(05), 347-57.

Langford, D A, Iyagba, R and Komba, D M (1993) Prediction of solvency in construction companies. Construction Management and Economics, 11(05), 317-25.

  • Type: Journal Article
  • Keywords: financial performance; insolvency; ratio analysis; Z model
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446199300000036
  • Abstract:

    This paper reviews two models for testing the financial security of construction companies. It discusses the utility of the ratio analysis technique and the Z model in predicting whether companies are heading for insolvency. It then applies these techniques to three construction companies which failed within the last 5 years to test whether the theoretical predictions prescribed in the techniques are applicable to the construction industry. It concludes that whilst the techniques are of value in predicting some difficulties they need to be used in conjunction with financial performance data of other construction firms, in this way comparisons may be made. The development of a refined and construction specific Z model is recommended.

Ranasinghe, M and Russell, A D (1993) Elicitation of subjective probabilities for economic risk analysis: An investigation. Construction Management and Economics, 11(05), 326-40.

Scott, S (1993) The nature and effects of construction delays. Construction Management and Economics, 11(05), 358-69.

Tan, R R and Chang, D S (1993) The formulation of performance indicators in evaluating the implementation of automation in the construction industry. Construction Management and Economics, 11(05), 398-403.