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Performance trends in the construction industry worldwide:an overview of the turn of the century

Horta, Isabel and Camanho, Ana and Johnes, Jill and Johnes, Geraint (2013) Performance trends in the construction industry worldwide:an overview of the turn of the century. Journal of Productivity Analysis, 39 (1). pp. 89-99. ISSN 0895-562X

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Abstract

This paper presents an exploratory study to assess the efficiency level of construction companies worldwide, exploring in particular the effect of location and activity in the efficiency levels. This paper also provides insights concerning the convergence in efficiency across regions. The companies are divided in three regions (Europe, Asia and North America), and in the three main construction activities (Buildings, Heavy Civil and Specialty Trade). We analyze a sample of 118 companies worldwide between 1995 and 2003. Data envelopment analysis is used to estimate efficiency, and the Malmquist index is applied for the evaluation of productivity change. Both methods were complemented by bootstrapping to refine the estimates obtained. A panel data truncated regression with categorical regressors is used to explore the impact of location and activity in the efficiency levels. The results reveal that the efficiency of North American companies is higher than the European and Asian counterparts. Other important conclusion points to a convergence in efficiency levels across regions as in North America productivity remains stable, whereas in Asia and Europe productivity improves.

Item Type: Article
Journal or Publication Title: Journal of Productivity Analysis
Uncontrolled Keywords: Construction industry ; DEA ; Malmquist Index ; Cross-country analysis
Subjects: H Social Sciences > HG Finance
Departments: Lancaster University Management School > Economics
ID Code: 53036
Deposited By: ep_importer_pure
Deposited On: 16 Mar 2012 12:11
Refereed?: Yes
Published?: Published
Last Modified: 10 Oct 2014 08:58
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/53036

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