IDEAS home Printed from https://ideas.repec.org/a/taf/conmgt/v29y2011i8p841-852.html
   My bibliography  Save this article

Prediction of risk perception by owners’ psychological traits in small building contractors

Author

Listed:
  • Emrah Acar
  • Yasemin Göç

Abstract

Risk decisions in small companies are not only based on the rational evaluations of the likelihood and magnitude of risks, but also rely on the personal traits of the owners, who are the dominant or single decision makers in their organizations. The major hypothesis of this paper is that risk management decisions in a small organization cannot be separated from the personality of its owner. Studying the risk perception of owners may be important to understand the ways they handle risky and ambiguous situations across different domains and to devise project risk management strategies that fit in with the particular needs of small companies. Owners’ risk perception related to building projects was statistically predicted by their psychological and demographic traits along with a set of organizational variables. Statistical analyses of data from 32 small general contractors specializing in residential and commercial building construction portray the risk-taking profile of owners and suggest that individuals with low risk propensity in health and financial domains have a higher risk perception, which is also positively associated with organizational size. These findings confirm the domain-specific nature of risk taking and provide a basis to examine thoroughly the project management strategies and actions at individual level in the case of smaller companies.

Suggested Citation

  • Emrah Acar & Yasemin Göç, 2011. "Prediction of risk perception by owners’ psychological traits in small building contractors," Construction Management and Economics, Taylor & Francis Journals, vol. 29(8), pages 841-852, August.
  • Handle: RePEc:taf:conmgt:v:29:y:2011:i:8:p:841-852
    DOI: 10.1080/01446193.2011.611521
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/01446193.2011.611521
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:conmgt:v:29:y:2011:i:8:p:841-852. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst). General contact details of provider: http://www.tandfonline.com/RCME20 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.