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G. Holt (2015)
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JFMPC 23,1 Psychosocial and organisational–cultural influences on construction stakeholders’ financial performance Welcome to the Journal of Financial Management of Property and Construction, Volume 23, Issue 1. This Special Issue provides a unique set of seven papers addressing issues allied to the subject of psychosocial and organisational–cultural influences, on construction stakeholders’ financial performance. Unlike many other economic sectors, the construction sector frequently has to endure low margins and unpredictable profitability, where – and to some extent resultantly – the rate of business failure is comparatively higher than that for other sectors (Holt, 2013). The transient nature of a construction business portfolio tends to comprise a series of concurrent, overlapping, one-off projects that utilise heterogeneous human capital. Large business cycle fluctuations and weak financial positions of many of those organisations involved often make the final project outcome financially unpredictable, exposing construction stakeholders (predominantly clients, contractors, sub-contractors and others in the supply chain) to risk. Over recent decades, there has been much debate among commentators regarding the “panacea” for success of construction organisations. Many have focused on the dichotomous relationship between “financial” and “non-financial” measures and their respective contribution (or otherwise!) to organisational success. There is, however, consensus among many of these
Journal of Financial Management of Property and Construction – Emerald Publishing
Published: Apr 3, 2018
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