Enterprises In Construction Industry Research Articles

A Linear Regression-based Analysis of the Value of U.S. Construction Firms

The construction industry has faced a block in its development in recent years, and the need to enhance the value of construction industry enterprises is imminent. The U.S. construction market is one of the most prosperous markets in the world, so the study of enhancing the value of firms within the U.S. construction industry holds considerable importance. Many previous studies have focused only on qualitative factors, which has some limitations. Therefore, this study investigates how to enhance the market value of U.S. firms from the perspective of financial factors. This study uses regression analysis to select the financial data of 34 U.S. companies listed in the construction industry. Then the relationship between their EV/EBITDA, net profit margin, and gross profit margin is modeled, and four sets of linear regression equation models are established, revealing that net profit margin, gross profit margin, and enterprise value have a significant positive relationship.

The Factors Influencing The Stock Prices of Construction Industry Enterprises: An Empirical Study in Vietnam

Purpose: The construction sector is essential for the economic development of a country. This industry is likewise a key player and has a significant influence on the stock market. Hence, it is necessary to analyze the variables that influence the stock prices in the construction sector, as this will enable investors to maximize profits and mitigate risks. Theoretical framework: This study evaluates the impact of macro factors and internal factors on the stock prices of the construction industry. Design/Methodology/Approach: This study utilizes quarterly financial reports from 56 construction industry enterprises in the Vietnamese stock market during the period from 2016 to 2022 to examine the factors affecting the stock prices of this sector. Findings: The results of the analysis indicate that the Random Effects Model (REM) is the most appropriate model, with factors such as the Consumer Price Index (CPI), Earnings Per Share (EPS), firm size (SIZE), and Price-Earnings ratio (PE) all having a positive impact on the stock prices of the construction industry. Research, Practical & Social implications: Based on these findings, the article provides recommendations for investors and relevant industry stakeholders. Originality/value: This article has conducted extensive analyses of factors influencing the stock prices of construction industry enterprises. The authors also provide suggestions for investors and relevant industry stakeholders to make investment decisions.

Analysis of competitiveness factors of construction industry enterprises

Analysis of competitiveness factors of construction industry enterprises

Analysis of competitiveness factors of construction industry enterprises

Analysis of competitiveness factors of construction industry enterprises

Ecological modernization at construction industry enterprises as an innovative production and management technology

The article delves into the pivotal role of ecological modernization, specifically the environmentalization of production at enterprises in the building materials sector. A comprehensive study was conducted on the product range of Ivano-Frankivskcement PJSC, one of the largest enterprises in the Western region. This case study serves as a tangible example, demonstrating that the adoption of environmentally friendly production necessitates both the environmentalization of production processes and management. The implementation of a comprehensive environmentalization strategy involves the incorporation of ecologically oriented measures in both the internal and external environments of the production system, while the environmentalization of the management system entails a restructuring of organizational forms and management methods to align with ecological principles. It was established that an essential part of ecological modernization is the introduction of environmental management systems. This includes requirements for waste and its processing, control over the use of water resources, and implementation of environmental certification and standards. Ecological modernization at enterprises in the construction industry helps to reduce the sector's ecological impact on the environment, contributes to the preservation of natural resources, and improves people's quality of life. It is proposed that enterprises producing building materials switch to the use of a dry method of production - an innovative technology that will contribute to the reduction of morbidity in the population and will protect the natural environment from harmful impurities and combustion products. The main advantage of this is energy-saving and highly efficient cement production technologies. It is emphasized that when carrying out production activities, enterprises in the field of production of construction materials should also apply management technologies of controlling, outsourcing, foresight, etc., with the help of which adverse environmental and economic problems can be detected promptly, and suggestions for their elimination can be made. Keywords: ecological modernization, "green" technologies, enterprise, business entity, management, production, ecological situation.

KEY ECONOMIC, MANAGERIAL AND INSTITUTIONAL IMPERATIVES OF THE CONSTRUCTION SECTOR DEVELOPMENT IN THE CONTEXT OF EUROPEAN INTEGRATION

European integration is the main and unchanging foreign policy priority of Ukraine, and further development and deepening of relations between Ukraine and the EU is based on the principles of political association and economic integration. In the context of the formation, development and improvement of the phenomenology of democratic legal statehood, permanent parademocratic and metademocratic processes of tactical and strategic nature emerge and intensify, as well as purely democratic trends are formed, which are determined by these processes, which permanently stimulate the relevant phenomenology, emphasizing its potential and promising opportunities, as well as new forms of communication interaction and fairly productive cooperation - full-fledged subjects of law. The construction sector is one of the basic sectors of the economy of every country in the world. The level of its development has a significant impact on the economic security of the state. The participation of construction in many socio-economic processes and its interconnection with all sectors of the economy make it an important component of the country's economic growth. The construction sector meets the primary physiological needs of society for housing and protection. The fund-forming function provides fixed assets (buildings and structures) to private, state, and municipal entities of all types of economic activity. At the same time, markets for capital, goods and services, and labor resources are formed; commercial, transport, and socio-cultural infrastructure is developed. It is established that the growth of the construction industry inevitably leads to the emergence of the necessary conditions for the country's economic development and the solution of many social problems. The article suggests ways to improve the economic condition of the construction industry and construction enterprises.

Barriers to Building Information Modelling Adoption in Small and Medium Enterprises: Nigerian Construction Industry Perspectives

The widespread adoption of building information modelling in the construction industry faces significant obstacles, particularly among small and medium-sized construction enterprises. This research accessed barriers to building information modelling adoption among small and medium enterprises in the Nigerian construction industry. The study obtained quantitative data from 182 participants out of the 200 questionnaires that were distributed. A combination of descriptive and exploratory factor analysis was performed using IBM SPSS version 26, and the Kaiser–Meyer–Olkin (KMO) test and Bartlett’s sphericity test were conducted to check data adequacy and reliability. The study findings clustered five factors from the 25 identified barriers to BIM adoption in SMEs in the Nigerian construction industry. They are functionality and compatibility, risk and the unavailability of BIM resources, inadequate awareness of BIM, inadequate clients’ demands and support, and stakeholders’ skills gaps. The study recommends training opportunities for construction professionals, government facilitation through incentives, and safeguarding intellectual property linked to BIM-oriented projects. Collaboration among construction stakeholders would also increase client awareness and knowledge sharing on modern technology, such as BIM adoption in SMEs in the construction industry.

СИСТЕМА МОТИВАЦИИ И ПРОЯВЛЕНИЕ ТРАДИЦИОННых ЦЕННОСТЕЙ В УПРАВЛЕНИИ ПЕРСОНАЛОМ ОРГАНИЗАЦИИ

Today, the costs of professional assistance are implemented in the incentive system of various organizations — a topical issue of modern research. For most of the life we spend at work, and what values will be raised and encouraged in employees, we must directly take care of the leadership of the organization. Subject of the study — manifestation of traditional values in personnel management through the prism of the developed incentive system.
 
 The study was conducted in order to identify the specifics of approaches to the formation of employee motivation and the role of the incentive system in the manifestation of traditional values among employees of the organization.
 
 Research methods: in the course of the study, diagnostics was carried out, in which 8 heads of construction industry enterprises involved in the formation of the incentive system took part. 32 ordinary employees of these organizations were also interviewed by the method of questioning. The authors used a statistical method for determining Pearson’s chi-square test. The study was based on theoretical conclusions obtained as a result of the analysis of Internet sources and scientific works of domestic and foreign authors studying incentive systems at the enterprise, as well as the role of traditional values in the process of working with personnel and their motivation.
 
 Scientific novelty and conclusions:
 
 According to the study the study revealed the need to stimulate employees, confirmed the relevance in identifying traditional values, their relationship with the motivation of employees. The hypothesis about the influence of leadership style on the incentive system and, at the same time, the influence of the incentive system on the manifestation of certain traditional values among employees has been confirmed. Conclusion are drawn about the need to pay more attention to the correspondence of traditional values of employers to potential candidates for enterprises and to create a model for the conformity of leadership styles that reveal or suppress traditional values in employees.
 
 Area of application: The conducted research and results are a useful resource for public authorities, local governments, as well as organizations of any format.

ТЕНДЕНЦИИ И ПЕРСПЕКТИВЫ УПРАВЛЕНИЯ ПОРТФЕЛЕМ ФИНАНСОВЫХ АКТИВОВ В СТРОИТЕЛЬСТВЕ

Target. Conduct a research analysis of trends and prospects for a portfolio of financial assets in construction, where transformational changes are taking place due to the negative impact of international trade and economic sanctions, as well as an increase in the key rate in Russia. Tasks. Consider the practical significance of financial assets for the development of construction enterprises. Analyze the dynamics and structure of the main indicators that reflect the economic state of the financial assets of enterprises in the Russian construction industry. Identify current problems and difficulties that form barriers to the development of financial assets of enterprises in the construction industry. Methodology. As part of the conducted scientific research, the following methods were used: scientific observation, comparison, private and special methods: economic-statistical, analytical-calculation and expert. Results. Indicators of the development of portfolios of financial assets of enterprises in the Russian construction industry demonstrate an increase in capital investments, however, the degree of depreciation of fixed assets does not decrease, but, on the contrary, increases. This inverse correlation reflects the low efficiency of financial assets, which are not enough to create high competitiveness of enterprises in the construction industry. Conclusions. The authors substantiate the conclusions that the trends and prospects for the development of portfolios of financial assets of construction enterprises in Russia are characterized by economic instability in the external environment, which is caused by the adoption of large-scale international trade and economic sanctions in 2022.

РОЛЬ ТЕХНОЛОГИЙ ИНФОРМАЦИОННОГО МОДЕЛИРОВАНИЯ В ОРГАНИЗАЦИИ ЖИЗНЕННОГО ЦИКЛА ОБЪЕКТОВ КАПИТАЛЬНОГО СТРОИТЕЛЬСТВА

Russian construction industry enterprises are increasingly realizing the potential of information modeling technologies. The article considers the role of information modeling technologies in the organization of the life cycle of capital construction facilities, identifies difficulties in managing TIM data; shows the advantages of using TIM technologies in the construction sector; considers domestic software products; notes the difficulties of analyzing the effectiveness of TIM implementation at enterprises in connection with the lack of a unified assessment of the effectiveness of the implementation of TIM technologies; The trends in the development of the field of TIM technologies are noted.

Digital transformation of ukrainian construction and project enterprises: obstacles and opportunities

The digital transformation of Ukrainian construction and design enterprises represents a multifaceted process characterized by both challenges and prospects. In the midst of a war and many critical changes in the construction industry, Ukrainian construction and design enterprises are at a crossroads, and are trying to figure out whether it is necessary to switch to digital technologies in such difficult times in order to remain competitive. Today, there are a number of complexities associated with the digital transformation of construction and engineering enterprises, so the article examines the obstacles that are encountered. Technological advances are a key imperative for transformation as businesses grapple with the need to adapt to changes that can transform project management and design methodologies. Barriers to change are cost, legislation, experts, compatibility with existing software, awareness of the advantages and disadvantages of VIM, corporate culture, external and internal business processes, the existing management structure and management of enterprises, demand, project scale, technologies, personnel skills, the need for additional training, contract terms and existing industry standards. However, amid the challenges, there are significant opportunities. By exploring the obstacles and opportunities, the paper aims to provide a framework for further research and offer practical insights that can guide businesses in using digital technologies for sustainable growth and competitiveness in the evolving construction and design industry.

The Impact of the Covid-19 Pandemic on the Business Performance of Construction Industry Enterprises in Can Tho City

Objective: This study is to investigate the influence of COVID-19 pandemic on the business performance of micro, small, and medium enterprises within the construction industry. Methods: To evaluate the impact of the COVID-19 pandemic on the business performance of SMEs, the authors employ two linear regression models to analyze and identify factors influencing business performance and the change in business performance before and after the COVID-19 pandemic. The model aims to determine the effect of the COVID-19 pandemic on the business performance of SMEs in the construction industry in Can Tho city. Results: Based on the dataset of 186 observations and the regression result shows that seven factors account for the variation in business performance of construction industry enterprises during the pandemic including disruptions in production, policies for capital support, scarcities in materials, and shortages in labor. The findings remained consistent after controlling other personal traits such as employee education, manager's educational and experience. Conclusion: The majority of industrial and construction enterprises were confronted with greater barriers in business operations during the COVID-19 pandemic, therefore, this led to a decline in revenue and profit for these businesses. The implications of this study are expected to guide business leaders in adopting appropriate adaptive strategies to enhance their business performance.

The Organizational Culture and Organizational Performance of The Construction Industry in Jiangsu

This study aims to explore the impact of organizational culture on the performance of companies in the construction industry. By collecting survey data from 402 construction firms and employing statistical analysis methods, the paper examined the relationship between different types of organizational culture and firm performance. The results indicate significant correlations between four distinct types of organizational culture – clan culture, adhocracy culture, market culture, and hierarchy culture – and firm performance. Clan culture is closely related to teamwork and shared objectives, adhocracy culture is associated with innovation and a spirit of risk taking, market culture emphasizes competition and customer satisfaction, while hierarchy culture focuses on power distribution and organizational structure clarity. Furthermore, factors such as company size, employee age, and educational background were found to influence this relationship. The study also reveals the reciprocal relationship between organizational culture and firm performance. The findings suggest that enhancing firm performance may be achieved by shaping a culture that fits the paper examined needs. Therefore, construction industry enterprises can actively improve and guide their organizational culture by encouraging collaboration, innovation, customer orientation, and clarifying roles and organizational structure, thus enhancing their performance. However, this requires active involvement from leadership teams and strategic planning to ensure the success of cultural transformations. In conclusion, this research offers key insights for construction industry companies striving for excellence in performance. By understanding how different cultural types impact performance, organizational leaders can make better strategic decisions and management practices to maintain a competitive edge in a competitive market environment.

Access mechanism, good governance and assessment process of private enterprise in construction industry in China: Basis for process improvement framework

Access mechanism, good governance and assessment process of private enterprise in construction industry in China: Basis for process improvement framework

Understanding the competitiveness factors of Korean contractors in the international construction market

The international construction markets (ICM) are constantly changing with new pressures creating opportunities and threats., Enterprises from advanced major advanced economies have been successful in venturing overseas and winning projects by exploiting their design, engineering, technological, and managerial competencies. Construction markets have changed with Chinese, Japanese, Korean, and Turkish construction enterprises securing more projects overseas. Understanding and exploiting the competitive advantage possessed by enterprises from major advanced economies is being challenged by enterprises from newly industrialised economies. This study investigates the competitiveness factors of the Korean construction (KOC) enterprises to understand how they have been successful in exploiting their competitive advantages. The competitiveness evaluation model (CEM) is developed using system dynamics which compares the project performances between the models generated by general and Korea-featured competitiveness factors in winning work in the ICM. The findings reveal that ownership of the enterprise, government strategy and support for the construction industry enterprises, strong leadership, technology-intensive, and special characteristics of large Korean enterprises (Chaebol system) could be critical factors for creating competitive advantage.

A Corporate Social Responsibility (CSR) Model to Achieve Sustainable Business Performance (SBP) of SMEs in the South African Construction Industry

This paper purposes to develop a corporate social responsibility (CSR) model to guide small and medium enterprises (SMEs) in the South African construction industry (SACI) towards sustainable business performance (SBP). A theoretical CSR model was developed from the literature and validated through Partial Least Squares Structural Equation Modelling (PLS-SEM), using primary questionnaire data obtained from 110 SMEs in the SACI, who are registered on the construction industry development board (cidb) register of contractors between Grade 1 and 6 general building (GB) and/or civil engineering (CE). The PLS-SEM results indicate that CSR drivers influencing the CSR practices of SMEs, along with CSR implementation challenges experienced by SMEs, influence the perception of SMEs pertaining to the relationship between the integration of CSR and SBP all of which influences the CSR activities considered by SMEs to achieve SBP, thus implying that the holistic adaption of the PLS-SEM (CSR model) by SMEs in the SACI equates to more SBP. However, SMEs practicing CSR activities to achieve SBP are subjected to specific CSR: drivers and implementation challenges as well as SME owner perceptions.

Barriers and strategies for implementing lean six sigma in small- and medium sized enterprises (SMEs) in construction industry: a fuzzy TOPSIS analysis

Purpose Quality management barriers have been discovered in construction small- and medium-sized enterprises (SMEs), determining their long-term survival. Despite the recognition of Lean Six Sigma (LSS) as a valuable quality management technique for addressing the barriers faced by SMEs, LSS implementation within the construction SME context is alarmingly low. Therefore, this study aims to investigate the barriers for implementing LSS within construction SMEs and to determine the most effective strategies for overcoming these barriers. Design/methodology/approach A quantitative research approach was used, and data was collected in two stages: a questionnaire survey with 44 construction professionals and an expert opinion survey with 12 LSS specialists. The collected data was then analysed using the fuzzy TOPSIS method, achieving a higher degree of sensitivity. Findings The findings revealed the 15 most significant LSS barriers that need to be addressed. In addition, the ten most important strategies to be implemented in overcoming the identified barriers before LSS implementation were discovered and thematised, most notably the hiring of LSS specialists for project monitoring and the formation of a committee for strategic planning through LSS. Originality/value Previous research on LSS examined barriers and strategies for SMEs in general, but to the best of the authors’ knowledge, this study is the first of its kind, focusing especially on the construction SME context and involving the unique fuzzy TOPSIS approach.

METHODOLOGY FOR ASSESMENT OF EXTERNAL FACTORS AFFECTING THE FINANCIAL SECURITY OF BUILDING MATERIALS INDUSTRY ENTERPRISES

This article analyzes the external factors affecting the financial security of construction materials industry enterprises and reveals the specific features of the construction industry in ensuring financial security at the micro level. The author has thoroughly analyzed the world's existing methodology for assessing the financial security of the enterprise. Taking into account that the method of determining the level of financial security of the enterprise based on the assessment of the internal and external environment is universal, it can be used in construction industry enterprises, taking into account the specific characteristics of the construction industry network.

Цифровая трансформация инженерно-технического документооборота как фактор оптимизации экономической деятельности предприятия строительной отрасли

Introduction of the systems of electronic engineering and technical and organisational workflow is currently considered as one of the effective tools to digitalize management of business process of construction industry enterprises to increase their efficiency and competitiveness in a dynamically developing business environment. The necessity to build digital infrastructure to manage the flows of structured digital information about the capital construction object at the stages of its life cycle is primarily due to the transition trend to use information modeling technology implemented at the state level. The purpose of the study is to analyze the specifics of the workflow of enterprises in the field of architectural and construction design and to study the possibilities of implementing the processes of its digital transformation based on introduction of import–independent specialized software products of domestic production. The analysis of current state of the enterprises corporate management systems of project products circulation, internal coordination logistics and external interaction of the participants of investment and construction projects revealed inefficiency and significant shortcomings of traditional format of document management. This allowed making conclusion about the necessity to use specialized software for managing engineering and technical data, since traditional electronic document management systems and ECM systems do not allow taking into account the highlighted features. Business and functional requirements formulated in the course of the study for the systems of this class and functionality analysis of Russian TDMS Farvater (Fairway) system for compliance with these requirements allowed to conclude that digitization of engineering and technical data management processes within the framework of the general trend of digital transformation will optimize the economic activity of construction industry enterprise by reducing the costs of document management and deadlines of investment and construction projects. The highlighted requirements for technical data management information system can be used in the development of import-independent software products of this class. The description of the TDMS Farvater (Fairway) functionality and its integration mechanisms in creating of unified information technology environment of shared data can become a methodological basis to form corporate digital ecosystem for managing digitized information flows and configuring interaction routes and synchronization of internal and external document flow in a single interface.

Development features of integrated risk management system at construction enterprises

The construction industry is one of the leading sectors of the economy of any country today. The research is devoted to accounting and establishing the main patterns in the development of structural elements of risk management in the activities of the construction industry enterprises. Such concepts as risk, risk classification, informatization, the basic principles of developing a risk management system in the activities of enterprises, an investment project and an investment process are considered. The purpose of the article is to study the features and methods of improving the efficiency of construction enterprises based on the development of a risk management system. The object of the study of this article is the construction industry in Russia. The subject of the study is the specifics of the development of a risk management system at enterprises in the construction industry. The purpose of the research is to identify the features, patterns and methods of improving the efficiency of construction enterprises based on the development of a risk management system. The use of information modeling technology allows you to respond to all changes in the external environment, timely manage costs, including the timing of work, which allows you to adjust the progress of production processes in space quickly and time when any types of risks occur at all stages of the life cycle of the object.