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Acar, E and Göç, Y (2011) Prediction of risk perception by owners’ psychological traits in small building contractors. Construction Management and Economics, 29(08), 841–52.

Henjewele, C, Sun, M and Fewings, P (2011) Critical parameters influencing value for money variations in PFI projects in the healthcare and transport sectors. Construction Management and Economics, 29(08), 825–39.

Hui, E C-M, Ng, I and Lau, O M-F (2011) Speculative bubbles in mass and luxury properties: an investigation of the Hong Kong residential market. Construction Management and Economics, 29(08), 781–93.

Iyer, K C and Sagheer, M (2011) A real options based traffic risk mitigation model for build-operate-transfer highway projects in India. Construction Management and Economics, 29(08), 771–9.

Tabish, S Z S and Jha, K N (2011) Identification and evaluation of success factors for public construction projects. Construction Management and Economics, 29(08), 809–23.

Tsolas, I E (2011) Modelling profitability and effectiveness of Greek-listed construction firms: an integrated DEA and ratio analysis. Construction Management and Economics, 29(08), 795–807.

  • Type: Journal Article
  • Keywords: construction firms; data envelopment analysis; effectiveness; Greece; profitability efficiency
  • ISBN/ISSN:
  • URL: http://www.tandfonline.com/doi/abs/10.1080/01446193.2011.610330
  • Abstract:
    Existing research on construction performance measurement is dominated by project level studies, and the firm stakeholders require the development of models that compare performance in terms of efficiency. A new framework that integrates data envelopment analysis (DEA) and ratio analysis using a two-step approach is described to evaluate performance in terms of profitability and effectiveness of a sample of construction firms listed on the Athens Exchange. In the first step, profitability and effectiveness are assessed by employing DEA and by using the profit margin (i.e. income-to-sales ratio), respectively. In the second step, a Tobit and an ordinary least squares model are used in order to identify the drivers of profitability efficiency and effectiveness, respectively. Results do point out positive links between profitability efficiency and effectiveness. Profitability inefficiency can be explained by the size and expenses-to-total revenue ratio, whereas effectiveness can be explained only by the latter explanatory variable. The research framework may benefit not only Greek construction firms, but also firms in other countries to quantify their performance and improve their competitive advantages.

Williams, C C, Nadin, S J and Windebank, J (2011) Undeclared work in the European construction industry: evidence from a 2007 Eurobarometer survey. Construction Management and Economics, 29(08), 853–67.