Vorasubin, P and Chareonngam, C (2007) Strategic assets driving financial capability of Thai construction firms. Journal of Financial Management of Property and Construction, 12(2), pp. 87-94. ISSN 1366-4387
Abstract
Technological advancement, innovative procurement patterns such as build-operate-transfer, build-own-operate-transfer as well as intrusion of international contractors have immensely changed the construction market. Local contractors need to devise a strategy to raise not only its technological capability but also financial capability which becomes increasingly necessary to compete successfully in this new landscape. This study aimed to investigate strategic assets which have been driving financial capability of construction firms in Thailand. Four large construction firms in Thailand were investigated through case study method and the result was verified with twelve industry experts. Three strategic assets were found contributing to competitive advantage of Thai construction firms including access to capital, efficient cash management, and effective capital investment. It was also found that strong relationship was the needed ingredient in developing these particular assets in Thailand. The findings should assist managers of construction firms in realizing the impact of financial capability, envisaging its driving strategic assets, and comprehending the mechanism which provides competitive advantage.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction firm; financial capability; resource-based view; strategic asset |
| Index terms: | resource-based view, strategy, local contractor, case study, construction firm, build-operate-transfer, construction market, technological capability, capital investment, manager, build-own-operate-transfer, competitive advantage, Thailand |
| Subjects: | organization, contractual arrangements, data collection methods, practitioner, management, Geography, economic analysis, innovation and technology management, market analysis |
| Topics: | Roles and Professions, Procurement, Business Strategy, Research Practice, Engineering Principles, Geographical Context |
| Descriptive scope: | 4 PCTE |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here