Medium-sized Construction Enterprises Research Articles

Exploring the Sustainability-Oriented Strategies of Small- and Medium-Sized Construction Enterprises in China’s Construction Industry under Financing Guarantee Constraints: A Multi-Agent Computational Model Approach

In the context of China’s swift urbanization and heightened sustainability challenges, SMCEs in the construction industry play a critical role in driving both economic growth and sustainable development. This pioneering study introduces an integrative approach blending sustainability-oriented strategies (SSs) with financing guarantees, addressing key obstacles faced by these firms. Leveraging a multi-agent computational model, we dissect the dynamic interplay among construction SMCEs, governmental bodies, financial institutions, and guarantors, underscoring the transformative impact of financing guarantees on sustainable advancement. Our investigation reveals that optimally structured financing guarantees not only resolve funding challenges but also actively foster adherence to sustainability practices. This dual functionality positions such financial instruments as key enablers of SMCEs’ quest for sustainability, aligning economic objectives with ecological imperatives. Furthermore, we spotlight the transformative effect of strategic management on elevating SMCEs’ commitment to sustainable operations. Collectively, these insights offer actionable pathways for SMCEs embarking on sustainability endeavors, showcasing innovative financial solutions that do not detract from their economic prosperity.

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.

Identifying Digital Transformation Barriers in Small and Medium-Sized Construction Enterprises: A Multi-criteria Perspective

Identifying Digital Transformation Barriers in Small and Medium-Sized Construction Enterprises: A Multi-criteria Perspective

Safety Culture system elements of Small and Medium-sized Construction Enterprises and its evaluation method

While the construction industry has contributed significantly to the construction of national infrastructure and the enhancement of residents’ living quality, many small and medium-sized construction industries have still been troubled by frequent accidents. Safety accidents have become an essential factor affecting their development of them. The construction of a safety culture is a critical way to solve this kind of problem and enhance the essential safety of these enterprises. Here, adopting the expert survey method, integrating the construction of safety culture with the existing system and work content, an element system of safety culture construction that contains eight primary elements and 32 secondary elements was developed, which could provide a practical and theoretical reference for the construction of safety culture in small and medium-sized construction enterprises. Through the expert survey method and hierarchical analysis method, the weights and sorting of each element were determined, which could guide the construction of enterprise safety culture efficiently. Next, a quantitative evaluation based on a fuzzy comprehensive evaluation of the overall effect of the construction of safety culture was proposed. It could support small and medium-sized construction enterprises to discover the short boards of construction, formulate strategies for continual improvement, and assess the safety culture of construction. Meanwhile, this safety culture system and evaluation method could be a reference for management departments or third-party organizations to manage and evaluate this type of enterprise.

Impact analysis of intra-firm factors on share prices of Chinese construction SMEs based on the XGBoost algorithm

At this stage, small and medium-sized construction enterprises (construction SMEs) are in a difficult position due to fierce competition and severe homogenization. However, current studies on China's construction industry are mainly from the macro perspective of regions and policies. There is a lack of studies that can guide business managers to improve enterprises' performance. This paper constructs a 5-dimensional and 18-indicator system of factors influencing the share price of construction SMEs from an intra-firm micro perspective. Based on this, several XGBoost models were trained, and the highest accuracy was selected as the criterion for feature importance ranking using and RMSE to output the importance ranking of internal factors influencing the share price of Chinese construction SMEs. The results show that the most critical intra-firm factors for the share price of Chinese construction SMEs are the growth capacity of capital, especially the growth ability of shareholders' equity, and the long-term and short-term solvency. This study provides an actionable starting point for Chinese construction SME managers. It uses the XGBoost algorithm, which has higher predictive accuracy than the linear regression commonly used in existing studies, to obtain more reliable factor importance rankings.

Liquidity management in small and medium-sized construction enterprises during crisis - the case of Croatia

Purpose: The aim of this study is to investigate the effects of liquidity management on the profitability of small and medium-sized Croatian enterprises during the economic crisis of 2008 and the crisis caused by COVID-19 and provide empirical evidence of the effects of liquidity management on profitability. Methodology: The collected data were analyzed using the methods of descriptive statistics, chain and base indices as well as Spearman’s correlation coefficient, while the normality of the distribution of the selected sample of small and medium-sized enterprises was examined with the Shapiro-Wilk W test. Results: According to the research results, the economic crisis in the period from 2008 to 2014 had more pronounced negative effects on liquidity management of the observed companies than the economic crisis in the conditions of the COVID-19 pandemic. Conclusion: The research results showed that liquidity management and achieving adequate profitability in times of crisis are very important for small and medium-sized construction companies because their total assets are dominated by short-term assets, while short-term liabilities are their dominant source of funding so better education in the field of finance is recommended in order to understand the use of their own and others sources of funding.

Research on Financial Risk Identification and Prevention of Small and Medium-sized Construction Enterprises Based on ISM-MICMAC Model

This study uses the ISM (Interpretative Structural Modelling) to model, relies on expert judgment to obtain better results, reveals the hierarchical relationship between each risk, and indicates its role path in small and medium-sized construction enterprises. At the same time, the driving and dependent coordinator diagram of the MICMAC (Matriced Impacts Corises-Multiplication Appliance Classment) is used to further analyze the interaction mechanism of each risk. The study found that the financial risk identification was divided into the transition structure of 6 levels and 21 classes. Gross profit margin of sales and the number of real estate enterprises are two indirect factors affecting the financial risk of small and medium-sized construction enterprises. Asset-liability ratio, interest coverage ratio, and inventory turnover rate are the direct factors affecting the financial risks of small and medium-sized construction enterprises. Liquidity ratio, quick ratio, cash ratio, return on total assets, basic earnings per share, return on net assets, operating profit, turnover rate of accounts receivable, inventory turnover rate, net profit growth rate, operating profit growth rate, growth rate of return on net assets, total assets of the enterprise, the number of enterprise personnel, national fixed real estate investment quota and real estate sales area are the deep-seated factors affecting the financial risks of small and medium-sized construction enterprises, while the first solution of the driving factors such as turnover of total capital can also help reduce the risk of construction enterprise and enhance the vitality of the enterprise.

Derivation of Risk Factors to Quantify the Risk of Safety Accidents for Small and Medium-Sized Enterprises in Construction Industry

The accident rate in the construction industry is much higher than in other industries. In particular, small- and medium-sized construction sites need to be managed by differentiating them from large construction sites. In order to create and manage a separate management guideline, a quantitative study on the difference between the two groups should be preceded. However, in previous studies, research particularly based on empirical and quantitative data is insufficient and somewhat inadequate. In this study, through statistical analysis of small- and medium-sized construction enterprises and large-scale construction enterprises, this research statistically proves the difference between the risk of occupational accidents. Furthermore, through multiple regression, safety accidents and significant factors of small- and medium-sized construction sites and large-scale construction companies have been verified and considered. The result shows the day of the week, accident time, and workers’ contract type are significant factors affecting construction workers’ accident risk for SMEs, while only the contract type was identified as a factor influencing accident risk for large construction companies. As this study aims at recognizing the risk factors of small-sized construction companies, the findings can provide effective references for assessing and managing the risks particular to the small- and medium-sized construction enterprises.

Study on the influence of COVID-19 on the growth of China's small and medium-sized construction enterprises.

The outbreak of COVID-19 at the beginning of 2020 had a significant impact on China’s economy, society, and citizens; it also had a negative impact on the development of the construction industry. In particular, small and medium-sized construction enterprises with low ability to withstand risk have been strongly impacted, aggravating a crisis of survival among these firms. The focus of this study is to analyze the impact of COVID-19 on the growth of small and medium-sized construction companies. Based on the characteristics of small and medium-sized construction enterprises, this paper establishes a growth evaluation index and builds a growth evaluation model based on factor analysis. Twenty-three construction enterprises listed on small and medium-sized enterprises board are selected as samples, and the quarterly data of 2019 and 2020 are used for empirical analysis. The results show that the epidemic has had a high short-term impact on construction enterprises, and the total output value of the construction industry in the first quarter of 2020 was 16% lower than that in the same period of last year. In the long run, the impact of the epidemic on the growth of small and medium-sized construction enterprises has been limited. In the first quarter of 2020, the growth score of enterprises decreased by only 1.95% year-over-year, and it was essentially flat in the second and third quarters. The epidemic has had little influence on solvency, tangible resources or intangible resources but a high short term influence on profitability, capital expansion and market expectations. The long-term impact is small; It is conducive to the improvement of enterprise operation ability. Finally, to both address the influence of the COVID-19 on small and medium-sized construction enterprises and to realize their transformation and upgrading, targeted suggestions are offered at the policy and enterprise levels. The results will help to understand the impact of the epidemic on the growth of construction enterprises, and provide decision support for the healthy and orderly development of the follow-up construction industry.

Stakeholders' impact on the leadership potential of small and medium-sized construction enterprises

PurposeThis study aimed to develop a methodological approach to assessing the impact of stakeholders on leadership potential of small and medium-sized construction enterprises.Design/methodology/approachThe research methodology was based on taxonomic analysis to determine the coefficient of leadership potential in the following areas: financial growth of an enterprise, internal processes, human resources development and market potential. The examination process was grounded on the materials from small and medium-sized construction companies located in Russia and China.FindingsSubgroups of companies with positive dynamics of indicators, an unstable situation and negative trends of leadership potential formation are identified. Russian small and medium-sized construction companies prioritize the development of sales policies and the management of internal business processes, while Chinese companies–human potential. The generated regression equations indicate a direct relationship between stakeholder engagement and the leadership potential of construction companies in both countries.Originality/valueThe scientific contribution of this study is the proposed methodological approach to assessing the development of the leadership potential of an enterprise and diagnosing the degree of stakeholders' influence on the latter. This is facilitated by comprehensive analysis, which includes an assessment of leadership potential based on the results of taxonomic analysis, construction of vector diagrams and regression analysis. This study can be useful for persons conducting research in the direction of small and medium-sized business management, forming a strategy for business development and competition policy to form a company's leadership position in the market.

Evaluating the Sustainable Growth of Small- and Medium-Sized Construction Enterprises Using the Multicriteria Decision-Making Method

Sustainable growth plays an important role in the development of small- and medium-sized construction enterprises and has increasingly become a hot topic in the political and academic arenas. Growth is an important indicator for measuring the operational status and development potential of listed enterprises and is of great significance for studying sustainable growth. Considering the development of small- and medium-sized construction enterprises, a growth evaluation index system that includes growth resources, growth ability, and growth innovation was established, and a growth evaluation model was constructed using the improved entropy-VIKOR algorithm. Evaluation and analysis of the sustainable growth of small- and medium-sized construction enterprises listed before the end of 2012 were conducted. The parameter sensitivity, weight sensitivity, and effectiveness of the evaluation model were analysed. The empirical results showed that compared with the TOPSIS method and the traditional VIKOR method, the multicriteria evaluation model for the sustainable growth of small- and medium-sized construction enterprises proposed in this paper had better stability and effectiveness. Finally, the key influencing factors, growth ranking, and dynamic growth types of small- and medium-sized construction enterprises were analysed, and targeted suggestions were proposed. The research results can provide a reference for managers, investors, and regulators.

Impacts of procurement strategies on construction SMEs’ growth

PurposeThis study aims to investigate the impacts of procurement strategies on the growing proportion of construction small- and medium-sized enterprises (SMEs) and whether the size of the construction company moderates the effect.Design/methodology/approachThis study adopted a quantitative research approach and a cross-sectional questionnaire survey in achieving its objectives. The survey requires the respondent to identify both the most successful and most outstanding project that the respondent was involved in between 2010 and 2016.FindingsThe study found that only traditional and management-oriented procurement strategies ensure the achievement of all growth plans for construction SMEs in South Africa; and that medium-sized construction enterprises achieve social growth such as community empowerment, managerial skills and advancement on the cidb Register of Contractors.Practical implicationsThe findings of the study imply that policymakers should base their decisions regarding macroeconomic issues and growth plans for construction SMEs on the internal and external factors such as differences in the sizes of construction SMEs and differences in the suitability of procurement strategies affecting the growth of construction SMEs.Originality/valueIn past studies, the diversity amongst SMEs is often overlooked and SMEs are erroneously assumed to share similar objectives, possess equal capabilities and face challenges of the same magnitude. The original contribution of this study is shown in the investigation of the moderating effect of SMEs’ diversity (in terms of company size) on their growth proportion as influenced by procurement strategies.

Understanding Behavioral Logic of Information and Communication Technology Adoption in Small- and Medium-Sized Construction Enterprises: Empirical Study from China

AbstractAlthough an investigation of factors influencing information communication technology (ICT) implementation in small- and medium-sized construction enterprises (SMCEs) has garnered significa...

중소건설업 종사자의 이직관리 혁신전략에 관한 연구 - 직무배태성과 조직시민행동을 중심으로 -

건설업의 특성상 고용의 불안정성, 열악한 근무환경 및 종사자들의 고령화 등의 문제로 이직현상이 심화되어 중소건설업체는 기업의 경쟁력 제고는 물론 유지조차 쉽지 않는 상황을 맞고 있다. 이에 따라 본 연구는 중소건설업체 종사자들을 대상으로 직무와 관련된 개념인 직무배태성과 직무 외적인 부분과 관련된 개념인 조직시민행동이 이직의도와 어떤 관계를 가지는 지에 관하여 실증적으로 분석하고 이직의도를 낮추기 위한 혁신전략을 도출하는 것을 목적으로 한다. 직무배태성이란 ‘직무와 관련하여 조직에 대한 애착을 갖고 조직에 동화되어 있는 수준’을 의미하며, 조직시민행동은 ‘승진이나 임금 등과 같은 조건이 없더라도 헌신적이고 자발적이며 규정을 넘어서서 조직의 각 기능이 효과적으로 발휘되도록 도와주는 구성원들의 행태’로 정의되고, 이직의도는 ‘종업원이 조직의 구성원 자격을 포기하고 현 직장을 떠나려고 의도하는 수준’을 뜻한다.BR 실증분석을 수행한 결과, 가설과 같이 직무배태성은 이직의도에 부(-)의 영향력을 가지고, 조직시민행동에는 정(+)의 영향력을 미치는 것으로 나타났다. 하지만 가설과 정반대로 조직시민행동은 이직의도에 정(+)의 영향력을 미치는 것으로 나타났다. 이상의 실증분석 결과를 토대로 고몰입 인적자원관리방식의 도입, 공정한 성과관리 기법의 개발, 고용보장에 대한 믿음의 강화, 일과 삶의 균형 지원제도의 도입, 조직시민행동의 하위차원 수행 등 중소건설업체 종사자들의 이직관리 혁신전략을 도출하였다.

ICT Implementation of Small- and Medium-Sized Construction Enterprises: Organizational Characteristics, Driving Forces, and Value Perceptions

This study discusses the organizational characteristics, driving factors, and value perceptions of small- and medium-sized construction enterprises in information and communication technology (ICT) implementation and investigates how the heterogeneous impacts of these features on subsequent ICT implementation practices are manifested. Based on questionnaire responses provided by 338 respondents from the Chinese construction industry, these associations were empirically tested using statistical methods, such as t-test, ANOVA, and correlation test. The analysis results indicate that the engagement of small- and medium-sized enterprises (SMEs) in ICT is a function of their annual sales turnover and the location in which they are operating, but no correlation was found with age, ownership structure, or business type. Moreover, strategic orientation was found to be the most effective driver in determining SMEs’ ICT-level, followed by pressures from competitors, incentive and mandatory policies from the government, intentions to improve work efficiency and quality, and ICT requirements from clients and partners, in that order. The findings further reveal that the differences in value perceptions generated after the adoption of ICT is the reason why SMEs tend to adopt less expensive ICT, that is, to use packaged rather than customized ICT, which can improve efficiency quickly, without considering the long-term benefits of the selected ICT. These findings provide insights for researchers and policymakers, allowing them to develop an in-depth understanding of the stimuli that are advantageous in ICT implementation in construction SMEs in developing countries.

A Fuzzy Group Decision-making Model for Determining the Most Influential Persons in the Sustainable Prevention of Accidents in the Construction SMEs

Safety in the sustainable construction is a game with uncertain reality, with human’s life. Managers in power, involved in the construction project life cycle, create rules for the game and are the main players. The project’s success can be perceived differently by stakeholders. A company’s competitiveness, successful implementation of the projects and effective safety management depends on the strategic allocation of its human resources in order to select a proper project team in alignment with employee capabilities. This requires detailed factors reflecting their role (in line with their interests and attitudes) and knowing which of them has a decisive influence on the successful implementation of the project. The real data describing key factors in this concept can be provided as uncertain conditions. This work presents a novel integrated modified fuzzy group decision-making approach to select and rank the most influential persons ensuring the sustainable prevention of accidents at work in the small and medium-sized construction enterprises. This model includes the Delphi method and fuzzy extensions of Eckenrode’s criteria rating method. The proposed model could be expanded in order to select the most suitable individuals for sustainable management of safety and, moreover, for the effective implementation of safety and health measures.

Lean management in small and medium-sized construction enterprises in Poland – selected results

Research related to the check of the use of improvement tools in small and medium-sized companies in construction sector are not so popular and not many researchers take up the topic. Article presents the survey results on group of 217 small medium-sized enterprises regarding Lean Management method use, knowledge and efficiency assessment. Presented results showed among others that there is a need for smaller companies to focus on gaining actual knowledge about new management methods that could improve their efficiency and workflow, and that there is still place for further examination of Lean Management introduction especially in construction sector.

Collaboration environments for small and medium-sized architecture, engineering and construction enterprises: success factors in implementation

Collaboration in the architecture, engineering and construction (AEC) sector increases productivity, improves quality, competitiveness and profitability. This poses the problem of what are the most appropriate collaboration methods available. With building information modelling (BIM) being imposed by the UK Government on AEC projects, the development of new technology is one solution, but ensuring the whole-sector adoption is fundamental. It is commonly observed that SMEs have fewer chances to get it right and so they need guidance. A qualitative study of 14 cases was developed to map the current practice of implementations and their success level. The case studies revealed a number of factors affecting the success at the organisation level. This also led to further quantitative investigation of the factors affecting the collaboration at the end-user level. The results suggested that the success of collaborative technologies depends on 23 factors. Recommendations from these findings are used to suggest a path for SMEs to implement BIM.

Research on Selection of Technological Innovation Mode for Large and Medium-Sized Construction Enterprises in China

Strengthening Technological Innovation is the Fundamental Way to Strengthen Core Competitiveness of Large and Medium Construction Enterprises in China and Realize Sustainable Development. The construction of a technological innovation model that conforms to the enterprise’s own conditions is an important premise to effectively integrate the internal and external innovation resources, reduce the cost and risk of innovation and improve the innovation performance. In this paper, the technology innovation model of large and medium-sized construction enterprises is divided into an independent innovation model, imitating innovation mode and cooperative innovation mode. Through the establishment of three-dimensional model, this paper aims to provide a quantitative analysis method for large and medium-sized construction enterprises in China.

Impact of organisational characteristics on health and safety practices of construction contractors

The construction industry makes a contribution to occupational accidents and ill health records in Nigeria. This study was designed to evaluate the impact of organisational characteristics on health and safety (H&S) management practices of Nigerian small and medium-sized construction enterprises (SMEs). The study employed a survey using questionnaires with both closed and open-ended questions which were used to examine the significance and incidences of H&S practices of construction. The questionnaire was presented to 436 SMEs which were randomly sampled from the 2219 construction contractors contained in the list of construction contractors registered with Corporate Affairs Commission (CAC) in Abuja. Factor analysis was employed to reduce 46 important H&S practices identified to 8 major H&S practices used for further analysis. The use of hierarchical multiple regression analysis was finally employed to establish the relationship between organisational characteristics and H&S practices of the construction SMEs. It was established that all the organisational characteristics have significant relationship with the H&S practices. It was concluded that the organisational characteristics are good predictors of the H&S practices of the construction SMEs.Keywords: Health and Safety, Impact, Organisational Characteristics, Practices