Banihashemi S Y, L L (2013) A socio-economic framework for adopting governance mechanisms in large construction projects. In: Smith, S D and Ahiaga-Dagbui, D D (eds.) Proceedings of 29th Annual ARCOM Conference, 2-4 September 2013, Reading, UK.
Abstract
Construction projects typically involve a series of inter-related transactions among project parties across project phases with the objective of delivering a complex endeavor. Therefore, the transaction governance literature provides a solid foundation for developing the governance theory of construction projects. However, analyze considering the project-based literature, the conceptualization and theoretical underpinning for determining the contingency factors that have significant role in selection of governance mechanisms varies widely. Although TCE perspective has been criticized for its weakness in predicting the effectiveness of different governance mechanisms, most of studies have limited to TCE-based factors and neglected the social motivators for adoption of governance systems. This is departing point for this paper to make a two-fold contribution to the construction projects' governance literature. Firstly, it analyses different frameworks in the transaction governance literature and identifies the antecedents for the adoption of the proper governance mechanisms. It also studies the application of these factors in the context of construction projects. Secondly, drawing upon transaction cost economics (TCE) and social capital theory (SCT), this study develops a socio-economic framework for including both project-based and relationship-based characteristics of construction projects in the choice of proper governance system. The framework serves as a platform for future knowledge development on the governance of construction projects.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | governance mechanism; social capital theory; transaction cost economic |
| Index terms: | governance, drawing, transaction cost, large construction project, construction project, effectiveness, motivator, platform, project party, social capital |
| Subjects: | technical documentation, performance management, digital design, production management, psychology, organizational theory, sociology, business, financial analysis |
| Topics: | Quality Management, Governance, Cost Management, Human Resources, Project Management, Design Practice, Stakeholder Management, Digital Applications, Research Practice |
| Descriptive scope: | 3 PCT |
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