Host-Country Related Risk Factors in International Construction:  Meta-Analysis

Internationalization has been on the agenda of construction firms as a strategic option in global competition. Due to globalization every sector including the construction industry has faced with high levels of competitiveness, uncertainty, and risk. International construction involves common risks to domestic construction, as well as risks that are related to the host country. These risks have serious effects on the performance of international projects. Since the sustainable competitiveness of international contractors depends largely on the effective management of these risks, their assessment becomes vital for the success of international contractors. The main aim of this study is to analyse the risks for international construction projects that are related to the host country. Meta-analysis technique is used in order to determine these risks. This paper, therefore, reviews the literature that has been published in four most respected construction and management journals, these being; Journal of Construction Engineering and Management, Journal of Management in Engineering, Construction Management and Economics, and International Journal of Project Management for the period of 2000-2010. International construction risk assessment models are also reviewed within the context of this study, since host country related risk factors were found to have serious effects on the profitability of international contractors due to literature review. As a result; political stability, law and regulations, exchange rate risk, cultural differences, inflation, expropriation, tax discrimination, language barrier, bribery and corruption, force majeure, and societal conflicts in the host country are found to be the most important risk factors in international construction. Findings of this study can be used in risk assessment models for international construction projects.

Keywords: International construction risks, meta-analysis, country risk, risk assessment models.

Uluslararas� �n�aat Sekt�r�nde �lkeye �zg� Risk Fakt�rleri �zerine Meta Analizi

G�zin Aydogan¹, Almula K�ksal²
¹Mimar Sinan G�zel Sanatlar �niversitesi
²Y�ld�z Teknik �niversitesi

�n�aat firmalar�nda uluslararas�la�ma k�resel rekabeti i�eren �nemli bir stratejik karard�r. K�reselle�meye ba�l� olarak, in�aat sekt�r� de dahil omak �zere t�m sekt�rler y�ksek rekabet, belirsizlik ve risklerle kar�� kar��ya kalm��lard�r. Uluslararas� in�aat sekt�r� yerel in�aat sekt�r� ile benzer riskler i�ermesinin yan� s�ra, projenin ger�ekle�tirildi�i �lkeye �zg� riskleri de i�ermektedir. Bu riskler uluslararas� projelerin performanslar� �zerinde b�y�k etkiye sahiptir. Uluslararas� y�klenicilerin s�rd�r�lebilir rekabet avantaj� sa�lamalar� b�y�k �l��de bu risklerin do�ru bir �ekilde y�netilmesine ba�l� oldu�u i�in, bu risklerin de�erlendirilmeleri firmalar�n ba�ar�s� i�in hayati bir �nem ta��maktad�r. Bu �al��man�n ana amac�; uluslararas� in�aat sekt�r� kapsam�nda proje ger�ekle�tirilmek �zere gidilen �lkenin kendine �zg� risklerinin analiz edilmesidir. Bu riskler kapsaml� bir literat�r taramas� sonucunda belirlenmi� va kategorize edilmi�tir. Bu ama�la, yap�m y�netimi literat�r�n�n en sayg�n d�rt dergisinde 2000-2010 y�llar� aras�nda konu ile ilgili yay�nlanm�� makaleler taranm��t�r. Bu d�rt s�reli yay�n s�ras�yla; Journal of Construction Engineering and Management, Journal of Management in Engineering, Construction Management and Economics, ve International Journal of Project Management adl� dergilerdir. �lkeye �zg� risklerin do�ru bir �ekilde de�erlendirilmesinin uluslararas� y�klenicilerin karl�l�� zerindeki etkilerinin taranan makalelerde vurgulanan ortak noktad�r. Bu nedenle, bu �al��ma kapsam�nda uluslararas� in�aat risk de�erlendirme modelleri de incelemi�tir. Sonu� olarak, literat�r taramas� ��nda belirlenen proje ger�ekle�tirilmek �zere gidilen �lkeye �zg� 18 risk fakt�r� aras�ndan s�ras�yla; politik stabilite, hukuk ve kanunlar, d�viz kuru riski, k�lt�rel farkl�l�klar, enflasyon, kamusalla�t�rma, farkl� vergi �demeleri, dil farkl�l��, r��vet ve yolsuzluk, m�cbir sebepler ve sosyal kar��kl�klar�n en �nemli risk kriterleri oldu�u belirlenmi�tir. Bu �al��ma sonucunda elde edilen veriler daha sonra uluslararas� in�aat projeleri i�in geli�tirilecek olan risk de�erlendirme modellerinde kullan�labilir.

Anahtar Kelimeler: Uluslararas� in�aat riskleri, meta analizi, �lke riski, risk de�erlendirme modelleri.

G�zin Aydogan, Almula K�ksal. Host-Country Related Risk Factors in International Construction: Meta-Analysis. Megaron. 2014; 9(3): 190-200

Corresponding Author: G�zin Aydogan, T�rkiye

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