How forming joint ventures may affect market concentration in construction industry?

摘要: ABSTRACTThe construction activities in Hong Kong are at unprecedented high level since the launching of an ambitious infrastructural development programme that involves ten mega projects (TMP hereafter). Since commencement 2008, tenders returned for these have exceeded respective project budgets significantly and far beyond inflation factor. Major concerns have, therefore, been raised over if there is issue insufficient competition. Concentrated market considered less competitive can be futile ground bid manipulation. This study employs contract values TMP to calculate concentration measures including four-firm ratios Herfindahl–Hirschman Index. Furthermore, contractors categorized into active occasional group. The effects forming joint ventures (JVs hereafter) on two groups examined. findings as follows. For contractors, due network among them, ...