On the measurement and characteristics of construction firms in theory and practice, in Best, R. and Meikle, J. (eds.) Describing Construction: Industries, projects and firms, London: Taylor and Francis, pp. 220-248.
- Publisher:
- Routledge
- Publication Type:
- Chapter
- Citation:
- Describing Construction: Industries, projects and firms, 2023, pp. 220-248
- Issue Date:
- 2023-01-01
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The chapter first surveys the data on construction firms from Europe and the United States (US), which establishes the broad outline of an industry structure with many small firms and fewer large ones. This is followed by Australian data from five construction industry surveys done between 1986 and 2011, identifying trends and showing how changes in the number and type of firms have affected the structure of the industry. The second half of the chapter discusses theoretical issues, following developments in the treatment of firms in construction economics. Starting in the 1970s, there has been an evolving conception of both construction firms and the construction industry as the characteristics of the industry have been incorporated into economic models of firms and markets. The increasing sophistication of these models and the development of more complex models of firms since 2000 is then discussed, followed by the conclusion.
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