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Babatunde, S O, Perera, S, Ekundayo, D and Adeleye, T E (2019) An investigation into BIM-based detailed cost estimating and drivers to the adoption of BIM in quantity surveying practices. Journal of Financial Management of Property and Construction , 25(01), 61–81.

Coleman, E, Nooni, I K, Fianko, S K, Dadzie, L, Neequaye, E N, Owusu-Agyemang, J and Ansa-Asare, E O (2020) Assessing contract management as a strategic tool for achieving quality of work in Ghanaian construction industry. Journal of Financial Management of Property and Construction, 25(01), 41–60.

Ikuabe, M, Oke, A E and Aigbavboa, C (2020) Impact of contractors’ opportunism on construction project transaction costs. Journal of Financial Management of Property and Construction , 25(01), 125–41.

Perera, B, Samarakkody, A L and Nandasena, S R (2020) Managing financial and economic risks associated with high-rise apartment building construction in Sri Lanka. Journal of Financial Management of Property and Construction , 25(01), 143–62.

Singla, H K (2020) Does family ownership affect the profitability of construction and real estate firms? Evidence from India. Journal of Financial Management of Property and Construction , 25(01), 107–24.

• Type: Journal Article
• Keywords: Profitability; Family ownership; Construction and real estate; Construction firms; Real estate firms;
• ISBN/ISSN: 1366-4387
• URL: https://doi.org/10.1108/JFMPC-08-2019-0067
• Abstract:
  The study aims to find if family-owned construction and real estate firms in India are more profitable compared to non-family-owned construction and real estate firms. The study also examines if family ownership and institutional ownership are drivers of the firm profitability.

  The study uses data of 199 construction and real estate firms listed on the National Stock Exchange (NSE), India. The data pertains to a period of 13 years (2006-2018). The family firm is defined on the basis on ownership criteria, and the sample is divided into two groups, namely, family firms and non-family firms. The data is analyzed using a two-sample t-test assuming unequal variance and Prais–Winsten panel regression using correlated panels with corrected standard errors (PCSEs) procedure.

  The findings suggest that family-owned construction and real estate firms are slightly more profitable compared to non-family-owned construction and real estate firms; however, family firms command lesser valuation in the market. The reason for this lower valuation is the mismatch between family holding and institutional holding. A family firm’s profitability is primarily driven by institutional holding that acts as mitigation against the agency conflict.

  The paper is the first attempt to analyze the profitability of construction and real estate family firms, and compare it with non-family-owned construction and real estate firms.

Tawalare, A and Laishram, B (2019) Factors hindering effective partnering in Indian public sector construction organizations. Journal of Financial Management of Property and Construction , 25(01), 83–105.

Zekri, M M and Razali, M N (2019) Volatility dynamics of Malaysian listed property companies within the Asian public property markets by using a switching regime approach. Journal of Financial Management of Property and Construction , 25(01), 5–39.