Construction insolvency in Australia: reining in the beast
| Autor: | Raufdeen Rameezdeen, Bianca Teng, Jeremy Coggins |
|---|---|
| Přispěvatelé: | Coggins, Jeremy, Teng, Bianca, Rameezdeen, Raufdeen |
| Jazyk: | angličtina |
| Rok vydání: | 2016 |
| Předmět: |
Engineering
Insolvency Parliament media_common.quotation_subject 0211 other engineering and technologies Accounting 02 engineering and technology Construction insolvency lcsh:TH1-9745 lcsh:TA177.4-185 underbidding lcsh:Engineering economy 021105 building & construction 0502 economics and business phoenix companies Contributory factor media_common Construction business.industry 05 social sciences Questionnaire Reining General Business Management and Accounting Construction Management Construction industry Bankruptcy Scale (social sciences) business construction insolvency 050203 business & management security of payment lcsh:Building construction |
| Zdroj: | Construction Economics and Building; Vol 16 No 3 (2016): Construction Economics and Building, Incorporating a Special Section on Innovation and SMEs in the AEC Sector; 38-56 Construction Economics and Building, Vol 16, Iss 3 (2016) |
| ISSN: | 2204-9029 |
| Popis: | Insolvency has become endemic in the Australian construction industry. The scale of the problem has reached such proportions that both the NSW Parliament and the Senate have, in recent times, commissioned inquiries into construction insolvency. This paper aims to identify the reasons as to why the construction industry is so susceptible to insolvency, evaluate the effectiveness of any existing insolvency protection measures available to construction firms, and to identify proposed future measures to address the factors causing construction insolvency. The results of a questionnaire survey designed to discover the extent of the construction insolvency problem, as well as building contractors’ views with respect to the causes and regulation of construction insolvency, in South Australia are presented. The research found that there is an appetite amongst building contractors for the introduction of further regulation to address construction insolvency. Further, although the research found underbidding to be the biggest contributory factor towards construction insolvency, it appears to be the most difficult factor to address through regulation which explains the paucity of recommendations which directly address underbidding emanating from the Senate inquiry in 2015. Refereed/Peer-reviewed |
| Databáze: | OpenAIRE |
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