Abstracts – Browse Results

Search or browse again.

Click on the titles below to expand the information about each abstract.
Viewing 6 results ...

Delaney, F T and Wamuziri, S C (2002) Efficiency and performance effects of mergers and acquisitions in the construction industry. Journal of Financial Management of Property and Construction, 7(03), 141–50.

  • Type: Journal Article
  • Keywords: Acquisitions; Construction; Merger; plant hire; material suppliers; Scale Economies
  • ISBN/ISSN: 1366-4387
  • URL: http://www.emeraldinsight.com/journals.htm?issn=1366-4387
  • Abstract:
    A feature of the construction sector for the past five years has been the increase of corporate activity, with mergers and acquisitions at the forefront of most firms' strategies. Consolidation by mergers and acquisitions in the construction industry is leading to the big firms getting bigger and the small to medium companies finding it increasingly difficult to maintain competitiveness and margins. Mergers may be justified by the extent to which they add value. Adding value requires some synergy that may be obtained by winning access to complementary assets or deriving economies of scale or scope related to the core business. There is a significant incentive for a company to grow if the costs of production decrease as the scale of the operations increased. This paper provides an assessment of the benefits of size, by analysing the relation between measures of costs and firm size. The data was selected from over one hundred companies in the contracting and house building sector, materials sector and plant hire sector for each of the most recent five years. It was found that economies of scale could be achieved by small to medium companies, however larger companies find it increasingly difficult to maintain scale economies. The paper then analyses a small sample of construction companies that were involved in mergers and acquisitions. This analysis is carried out using various financial efficiency ratios. Three out of the four cases were found to be successful.

Jayantha, W M and Ganesan, S (2002) Econometric analysis of office space market's response to service sector growth in Hong Kong. Journal of Financial Management of Property and Construction, 7(03), 175–96.

Kehinde, J O and Aiyetan, O A (2002) A study of the nature of contractual claims in building contracts in Nigeria. Journal of Financial Management of Property and Construction, 7(03), 197–202.

Kishk, M (2002) Towards effective consideration of non-financial factors in the design and management of construction assets. Journal of Financial Management of Property and Construction, 7(03), 163–74.

Pasquire, C L and Gibb, A G F (2002) Considerations for assessing the benefits of standardisation and pre-assembly in construction. Journal of Financial Management of Property and Construction, 7(03), 151–62.

Yates, D J and Hardcastle, C (2002) The causes of conflict and disputes in construction: a review of current research. Journal of Financial Management of Property and Construction, 7(03), 203–14.