Taofeeq, D M; Adeleke, A Q and Ajibike, W A (2020) Human factors influencing contractors' risk attitudes: A case study of the Malaysian construction industry. Construction Economics and Building, 20(1), pp. 96-116. ISSN 2204-9029
Abstract
Malaysia is one of the most rapidly developing countries among developing nations. The construction industry has played a major role in Malaysia’s rapid economic growth. Among the major sectors in Malaysia, the importance of the construction industry is unique regardless of the level of the country’s development. However, the attitude of the construction industry in Malaysia towards managing contractors' risk attitudes is very weak. The introduction of the Occupational Safety and Health Act in 1994 by the Malaysian government made all industries in Malaysia to identify risks, conduct risk assessment and control risk. In addition, the Malaysian construction industry simultaneously implemented an integrated system to ensure consistency and better performance of projects. To identify the factors influencing contractors' risk attitudes, relevant literature was reviewed, and a questionnaire survey was conducted. This study focused on the G7 contractors operating in the Malaysian construction industry. One hundred and nineteen copies of a structured questionnaire were analysed with a response rate of 85%. Structural equation modelling was utilized to test the hypotheses developed for the study. Results showed that government policies played a moderating role in enhancing the relationship between human-related factors affecting contractors' risk attitudes in the construction industry.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Malaysia; PLS-SEM; risk attitude; risk management |
| Index terms: | case study, risk attitude, developing country, Malaysia, survey, developing nation, structural equation modelling, questionnaire, occupational safety and health, risk management, government policy, risk assessment, human factor, construction industry, integrated system, economic growth |
| Subjects: | Geography, financial risk, development economics, economic development, decision-making and reasoning, industry analysis, statistical analysis, occupational health and safety management, design methods, risk assessment, data collection methods, public policy |
| Topics: | Health and Safety, Cost Management, Research Practice, Geographical Context, Risk Management, Sustainability, Governance, Design Practice, International Construction |
| Descriptive scope: | 5 PCTEA |
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