Nalazite se na CroRIS probnoj okolini. Ovdje evidentirani podaci neće biti pohranjeni u Informacijskom sustavu znanosti RH. Ako je ovo greška, CroRIS produkcijskoj okolini moguće je pristupi putem poveznice www.croris.hr
izvor podataka: crosbi

COMMUNICATION RISK IN CONTRUCTION PROJECTS: APPLICATION OF PRINCIPAL-AGENT THEORY (CROSBI ID 188997)

Prilog u časopisu | izvorni znanstveni rad

Cerić, Anita COMMUNICATION RISK IN CONTRUCTION PROJECTS: APPLICATION OF PRINCIPAL-AGENT THEORY // Organization, technology & management in construction, 4 (2012), 2; 522-533. doi: 10.5592/otmcj.2012.2.8

Podaci o odgovornosti

Cerić, Anita

engleski

COMMUNICATION RISK IN CONTRUCTION PROJECTS: APPLICATION OF PRINCIPAL-AGENT THEORY

The impact of a multiple principal-agent problem on communication risk in construction projects is addressed. The focus here is on communication issues between the project owner, the contractor, and their project managers, as well as between the two project managers working for them. These are the key four parties in any construction project. In construction projects, the principal-agent problem is even more pronounced than is usually the case because of their short-term employment relationship. This problem is characterized by three issues concerning the relationship between the principal and the agent: adverse selection, moral hazard, and hold-up. Asymmetric information is common to all three. An exploratory survey was conducted in order to establish an understanding of the relative importance of the relationships between the key project parties in terms of the above communication risks. The respondents were project managers with considerable experience in the construction field. They agree that the main relationship in a construction project before the contract is signed is that between the project owner and contractor. However, they suggest that the main relationship after the contract is signed is that between the project owner’s and contractor’s project managers, both of whom are agents, which points to new and promising areas for further research.

principal-agent theory; asymmetric information; communication risk; construction projects; project management

nije evidentirano

nije evidentirano

nije evidentirano

nije evidentirano

nije evidentirano

nije evidentirano

Podaci o izdanju

4 (2)

2012.

522-533

objavljeno

1847-5450

1847-6228

10.5592/otmcj.2012.2.8

Povezanost rada

Temeljne tehničke znanosti

Poveznice