Efficiency measurement of the construction industry in Taiwan: a stochastic frontier cost function approach created by Ren-Jye Dzeng and Jih-Shong Wu

By:

Dzeng, Ren-Jye [author]

Contributor(s):

Wu, Jih-Shong [co-author]

Material type: Text

TextSeries: Construction Management and Economics ; Volume 31, number 4-6Abingdon: Taylor and Francis, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

01446193

Subject(s):

Construction cost -- Efficiency -- Stochastic frontier -- Taiwan

LOC classification:

HD9715.A1 CON

Online resources:

Click here to access online

Abstract: Construction firms require a large cash flow, thereby creating a significant financial leverage. Therefore, identifying a highly effective cost efficiency model is essential for construction firms, especially under the pressure of competition in today’s global market. This research used stochastic frontier analysis (SFA) to model and measure the cost efficiency of construction firms in Taiwan, and to investigate the relationships between input resources and cost efficiency. The main findings include: (1) subcontracting reduces labour capacity; (2) larger firms can be more cost efficient; (3) appropriate financial leverage increases cost efficiency and capital; and (4) reducing equipment costs increases cost efficiency. These findings can help construction firms to strategically adjust the management of their firm and improve cost efficiency.

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HD9715.A1 CON (Browse shelf(Opens below))	Vol. 31, no. 4-6 (pages 335-344)	SP18033	Not for loan	For in house use

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Construction firms require a large cash flow, thereby creating a significant financial leverage. Therefore, identifying a highly effective cost efficiency model is essential for construction firms, especially under the pressure of competition in today’s global market. This research used stochastic frontier analysis (SFA) to model and measure the cost efficiency of construction firms in Taiwan, and to investigate the relationships between input resources and cost efficiency. The main findings include: (1) subcontracting reduces labour capacity; (2) larger firms can be more cost efficient; (3) appropriate financial leverage increases cost efficiency and capital; and (4) reducing equipment costs increases cost efficiency. These findings can help construction firms to strategically adjust the management of their firm and improve cost efficiency.

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