Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 505884
Title The impact of internationalization and diversification on construction industry performance
Author(s) Horta, Isabel M.; Kapelko, Magdalena; Oude Lansink, Alfons; Camanho, Ana S.
Source International Journal of Strategic Property Management 20 (2016)2. - ISSN 1648-715X - p. 172 - 183.
DOI https://doi.org/10.3846/1648715X.2015.1123201
Department(s) Business Economics
WASS
Publication type Refereed Article in a scientific journal
Publication year 2016
Keyword(s) Bootstrap truncated regression - Construction industry - Data envelopment analysis - Diversification - Internationalization
Abstract

This paper investigates the impact of internationalization and diversification strategies on the financial performance of construction industry companies. The results obtained can guide the design of strategies to pursue company growth and achieve competitive advantage. The evaluation of companies’ performance is based on the use of the Data Envelopment Analysis technique to aggregate financial indicators using optimized weights. The impact of internationalization and diversification on company performance is explored using truncated regression, controlling for the effect of contextual factors such as company age, size and time. Data Envelopment Analysis and truncated regression were complemented with bootstrapping to ensure the robustness of the results obtained. The activity of Portuguese and Spanish contractors in the period 2002 to 2011 is used as case study. The empirical results show that internationalization has a positive impact on financial performance, although this effect is only statistically significant for Spanish contractors. Diversification has a nonlinear relationship with performance, benefiting companies with either a small number of core activities or companies with a broad scope of activities.

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