Asset Specificity and Contractors’ Opportunistic Behavior: Moderating Roles of Contract and Trust

Shi, Chenxi; Chen, Yongqiang; You, Jingya; Yao, Hongjiang

doi:10.1061/(asce)me.1943-5479.0000632

Cited by 74 publications

(50 citation statements)

References 106 publications

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“…Researchers have investigated formal governance and informal governance and revealed their inhibitory effect on opportunistic behavior (Lu et al 2015a;Ahimbisibwe 2014). Existing studies point out that integrity of the contract (Lu, Zhang, and Zhang 2016), clarity of the contract terms (Ning 2018), trust (Lu et al 2015b), uncertainty (You et al 2018;Lu et al 2015b;Wang et al 2013), complexity (Lu et al 2015b), asset specificity (Shi et al 2018;Wang et al 2013) and risk perception (Zhang and Qian 2017) have an impact on the opportunistic behavior of contractors. In addition, some studies also prove that the control, adaptation and coordination functions of the contract (Quanji, Zhang, and Wang 2016;Wang et al 2017), Contract Flexibility (Song et al 2018), risk sharing (Zhang et al 2016;Xu et al 2018), trust (Kadefors 2004;Xu et al 2018) and fairness (Lu, Li, and Wang 2017) have positive effects on the contractor's cooperative behavior.…”

Section: The Contractors' Bcpmentioning

confidence: 99%

Research on influencing factors of consummate performance behaviors: a configurational approach

Ling

Guo

2020

Journal of Asian Architecture and Building Engineering

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Contractors' behavior for consummate performance (BCP) has an important impact on the value added of the project. Therefore, this paper first objective is based on theory of planned behavior (TPB) to understand contractors' BCP. In addition, this study investigates which combination of influencing factors influence BCP by qualitative comparative analysis (QCA). A questionnaire survey including 195 respondents was used to collect the data. The results indicate that the BCP is mainly influenced by the perception of profit/cooperation/value attitudes, subjective norm, perceived behavioral control and the behavioral intention. The analyses also reveal two equifinal combinations of influencing factors that result in BCP. This study identified the factors leading to Chinese contractor BCP by extending the TPB model to the context of construction. The extended TPB model may serve as a theoretical framework and basis for Chinese contractors to perform BCP. Furthermore, this study contributes to the contractors' behavioral literature by empirically presenting a configurational solution.

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Section: The Contractors' Bcpmentioning

confidence: 99%

Research on influencing factors of consummate performance behaviors: a configurational approach

Ling

Guo

2020

Journal of Asian Architecture and Building Engineering

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“…One party may pursue profits at the expense of the other's interests, which increases the need for contracts to safeguard the transaction (Cavusgil et al 2004). Thus, hitherto, much of the empirical work in terms of the study of contracts has been devoted to understanding how contracts should be designed to reduce opportunism (Lu et al 2016;Shi et al 2018;Yang et al 2011;Zhang et al 2016a). However, whether contract governance achieves the desired effect also relies heavily on enforcement practices (Antia and Frazier 2001).…”

Section: Contract Enforcementmentioning

confidence: 99%

Mediating Role of Risk Perception of Trust and Contract Enforcement in the Construction Industry

Yao

Chen

et al. 2019

J. Constr. Eng. Manage.

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Contract violations have become common problems in construction projects, yet little of the construction contract literature addresses the questions of responses to contract violations (i.e., contract enforcement). This research investigates the effects of trust on contract enforcement in a principal-agent relationship, and it explores the mediating role of risk perception in the effects. The authors distributed 429 electronic questionnaires and received 280 responses. After deleting responses completed in under 100 seconds and non-manager responses, we narrowed the total to 253 valid responses from professionals in the Chinese construction industry. Hierarchical regression analyses were conducted to test the hypotheses in this study, and the findings revealed that goodwill-based trust 11 diminishes the severity of contract enforcement, while perceived relational risk and perceived performance risk increase the severity of contract enforcement. Mediation analyses also support the mediating role of perceived relational risk in the effect of goodwill-based trust on contract enforcement. The findings contribute to contract theory by providing a thorough understanding of contract enforcement and developing a conceptual framework consisting of trust, perceived risk, and contract enforcement. Managers from violating parties may benefit from this article through understanding the role of trust and perceived risk in dealing with a contract violation and following the strategies recommended for diminishing the severity of contract enforcement.

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“…Due to the complexity, ambiguity, and high degree of uncertainty of the project [42], in the field of construction management, many scholars have also adopted grey relational analysis as a research method. Zhang [43] established a green evaluation index system from four aspects: qualification, technology, economy, and management.…”

Section: Grey Relational Analysismentioning

confidence: 99%

A Grey‐BPNN Model for Evaluating the Competitiveness of Chinese Contractors in the High‐Speed Rail Market in Europe

Lin

Shi

Chen

et al. 2019

Advances in Civil Engineering

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With the planning and progress of the construction of the trans-Eurasian high-speed rail (HSR) network, it becomes an important issue for Chinese contractors to enter the European HSR market. Facing the world's most competitive contractors and their high technology levels, Chinese contractors will need to know their advantages and disadvantages, so as to make necessary improvements. In this study, contractors for HSR are divided into two groups: construction contractors and rail equipment suppliers. In order to evaluate the competitiveness of HSR contractors, a Grey-BPNN model that combines the grey relational analysis and backpropagation neural network (BPNN) is proposed. e Grey-BPNN model is expected to analyze the overall competitiveness of Chinese contractors in the European HSR market and provide informative decision support for them. e study results show the following: (1) in the field of HSR construction, the competitiveness gap between the top-tier Chinese contractors and the most competitive international contractors is small. Chinese contractors' competitive advantages lie in medium-and low-technology-level projects, with a strong development potential. However, they highly depend on Chinese domestic market and lack in intangible resources, like management ability and market development ability; (2) for rail equipment suppliers, China Railway Rolling Stock Corporation (CRRC) ranks among the top-tier leaders of the international market. CRRC's greatest competitor in the European HSR market is Siemens, and CRRC is much more competitive than others in the sustainable development capability. However, CRRC needs to increase the quantity of patents and Research and Development (R&D) expenditures in transportation. As a weak transportation patent holder, CRRC has a potential risk of getting intellectual property litigations in the European HSR market.

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Asset Specificity and Contractors’ Opportunistic Behavior: Moderating Roles of Contract and Trust

Cited by 74 publications

References 106 publications

Research on influencing factors of consummate performance behaviors: a configurational approach

Research on influencing factors of consummate performance behaviors: a configurational approach

Mediating Role of Risk Perception of Trust and Contract Enforcement in the Construction Industry

A Grey‐BPNN Model for Evaluating the Competitiveness of Chinese Contractors in the High‐Speed Rail Market in Europe

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