Owusu, M D; Badu, E; Edwards, D J and Adjei-Kumi, T (2007) Finance for non-financial construction managers: Empirical analysis of financial variables that influence acquisition decision-making process. In: Boyd, D (ed.) Proceedings of 23rd Annual ARCOM Conference, 3-5 September 2007, Belfast, UK.
Abstract
The ability of managers to assimilate financial data, integrate financial and accounting data into business operations and make informed financing decisions depend largely on the level of their financial proficiency. Construction managers with no proficiency in basic financial concepts in relation to business financing decision-making process are not able to create value for their firm. The paper identified the basic financial variables that affect corporate financing decision-making and examined the level of manager’s financial proficiency in context of applications and the significance in the overall corporate financing decision-making process. Criteria such as ability to interpret financial information and ability to analyse financial data were found to be the most important factors necessary. The contribution of the paper is the presentation of operations directions about the ways construction managers can create action plans to improve their financial decisions through a deeper understanding and application of the financial variables.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | construction corporations; decision-making; financial variables; proficiency |
| Index terms: | decision-making, construction manager, accounting, financing, manager, decision-making process, acquisition |
| Subjects: | decision analysis, economic analysis, practitioner, business, profession |
| Topics: | Business Strategy, Risk Management, Roles and Professions |
| Descriptive scope: | 2 PC |
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