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The Study Of Growth Factors Of The Profit Oriented Business In The Construction Industry

Author

Listed:
  • Sergey Oparin

    (Chair of Economics and management in the construction Petersburg State Transport University Emperor Alexander I, Saint-Petersburg)

  • Nikolay Chepachenko

    (Department of Economics and management in the construction Petersburg State Transport University Emperor Alexander I, Saint-Petersburg)

  • Marina Yudenkо

    (Department of Economics and management in the construction Petersburg State Transport University Emperor Alexander I, Saint-Petersburg)

  • Irina Kuzovleva

    (Department of Economics and management Bryansk state engineering- technological University, Bryansk)

Abstract

This study concluded that the problems of economic growth are determined by a number of factors, the main of which are – economic, industrial, technological, institutional, non-economic. The article focuses on the analysis of institutional factors which regulate companies’ activities by reducing the impact of administrative barriers. This article identifies the role of economic efficiency and its influence on the economic growth of the construction industry businesses. This article offers a method of profit calculation by the reduction of transaction costs. This method is adapted to the construction sector, which features a number of independent and related fields, a large number of participants of the construction process and institutions that altogether lead to the occurrence of administrative barriers. The calculations that were done confirm that the reduction of transaction costs affects the efficiency of construction companies. The resulting extra profit, from reducing the transaction costs, is a source of economic growth for companies in the construction industry.

Suggested Citation

  • Sergey Oparin & Nikolay Chepachenko & Marina Yudenkо & Irina Kuzovleva, 2018. "The Study Of Growth Factors Of The Profit Oriented Business In The Construction Industry," CBU International Conference Proceedings, ISE Research Institute, vol. 6(0), pages 361-365, September.
    • Handle: RePEc:aad:iseicj:v:6:y:2018:i:0:p:361-365
    DOI: 10.12955/cbup.v6.1183
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    More about this item

    Keywords

    institutional factorseconomic growth; construction; entrepreneurship; economic efficiency; administrative barriers;
    All these keywords.

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law

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