Abstract
The construction industry is an integral part of any nation’s economy, whether measured by dollar volume or workforce size. In spite of its strong influence, there has been very little specifically aimed at evaluating the current industry
performance. This research investigates the macroeconomic performance of the construction industry by accounting for crucial performance affecting factors such as labor productivity and gross margin. A clustering analysis, followed by a series of statistical analyses, yielded a notable finding that labor productivity is the most important factor that affects industry’s profitability. The results of the analysis also revealed that the states with the strongest labor productivity show the highest level of profitability in terms of gross margin. This study should be of value to decision-makers when plotting a roadmap for future growth and rendering a strategic business decision.
performance. This research investigates the macroeconomic performance of the construction industry by accounting for crucial performance affecting factors such as labor productivity and gross margin. A clustering analysis, followed by a series of statistical analyses, yielded a notable finding that labor productivity is the most important factor that affects industry’s profitability. The results of the analysis also revealed that the states with the strongest labor productivity show the highest level of profitability in terms of gross margin. This study should be of value to decision-makers when plotting a roadmap for future growth and rendering a strategic business decision.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of the 6th international conference on construction, engineering and project management |
| Editors | Bonsang Koo, Youngsoo Jung, Leen-Seok Kang |
| Publisher | Korea Institute of Construction Engineering and Management |
| Pages | 150-153 |
| Number of pages | 4 |
| ISBN (Print) | 9788995457269 |
| Publication status | Published - 31 Oct 2015 |
| Externally published | Yes |
| Event | The 6th International Conference on Construction Engineering and Project Management - Busan, Korea, Republic of Duration: 11 Oct 2015 → 14 Oct 2015 |
Conference
| Conference | The 6th International Conference on Construction Engineering and Project Management |
|---|---|
| Abbreviated title | ICCEPM-2015 |
| Country/Territory | Korea, Republic of |
| City | Busan |
| Period | 11/10/15 → 14/10/15 |
Keywords
- labor productivity
- profitability
- cluster analysis
- census