External Causes of Small Construction Firm Failures.

摘要

Significant findings of this thesis include: A much larger percent of construction firm failures, approximately 20%, occur due to non-management causes than was originally thought; Construction firm failures lag increases in the prime rate by about 1 year; and Subs and specialty contractors do not fail at a greater rate than general contractors. The first two findings should encourage contractors and their professional organizations to be more attentive to national economics. This study found the most significant non-management causes for failure are: Economic downturns (Escalating interest rates); Escalating costs; Technical complexity and warranty; Regional differences/Major commodity failures; and Death of owner. The author provides a failure prevention guide. Construction industry; small business. Theses. (edc)