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The financial structure and ethos of property companies: an empirical analysis


  • Richard Barkham


Property companies are a key group in the economy of the built environment. The entrepreneurs that run property companies are responsible for initiating development projects and managing them. The risk incurred by participants in the development process, such as banks and construction firms, is related not only to the risk of the project being undertaken but also to the financial risk associated with the property company that initiates and manages the project. This paper attempts to develop a taxonomy of property companies, for consideration by decision makers in the construction industry in assessing the risk of being involved in a project.

Suggested Citation

  • Richard Barkham, 1997. "The financial structure and ethos of property companies: an empirical analysis," Construction Management and Economics, Taylor & Francis Journals, vol. 15(5), pages 441-456.
  • Handle: RePEc:taf:conmgt:v:15:y:1997:i:5:p:441-456
    DOI: 10.1080/014461997372818

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    Cited by:

    1. Giacomo Morri & Charles Ward, 2005. "Explaining Deviations from NAV in UK Property Companies: Rationality and Sentimentality," ERES eres2005_259, European Real Estate Society (ERES).
    2. Richard J. Barkham & Charles W. R. Ward, 1999. "Investor Sentiment and Noise Traders: Discount to Net Asset Value in Listed Property Companies in the U.K," Journal of Real Estate Research, American Real Estate Society, vol. 18(2), pages 291-312.


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