Kulakov, Alexandr; Stephenson, Judy; (2023) Listed UK construction companies: capital structure, productivity and performance. Presented at: ESCoE Conference on Economic Measurement 2023, London, UK.

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Text Kulakov, A. and Stephenson, J. (UCL) - Poster - ESCoE EM 2023, Listed UK construction companies - capital structure, productivity and financial performance (May 2023).pdf - Published Version Download (174kB) | Preview

Abstract

The paper is concerned with the business models of construction companies. By analysing the financial data of listed UK contraction companies, the fundamental characteristics of the whole construction industry and specific differences between types of companies are highlighted. The methodology allowed to gather a relatively representative dataset and derive practically useful and most up-to-date empirical benchmarks. The analysis of companies’ capital structure not only substantiates the theory of construction economics but also gives insight into the productivity and financial performance of construction businesses over a 20-year period. Such a form of analysis has brought out trends, in turn, identifying the most- and least- differentiating and explanatory financial ratios. The outcomes of the study are notable for their consistency and explanatory power. The conclusions are drawn on all aspects of construction companies’ business models together with specific commentary and recommendations on some less-expected findings. The paper’s contribution is in adding to academic knowledge and practical use and implications. The listed-companies-focused approach allowed to list several limitations that are expected to positively contribute to future research.

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