@article{ART001014775},
author={Kim, Myeong-soo and Mahnsoon Kwak},
title={An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2006},
volume={49},
pages={77-92}
TY - JOUR
AU - Kim, Myeong-soo
AU - Mahnsoon Kwak
TI - An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms
JO - The Korea Spatial Planning Review
PY - 2006
VL - 49
IS - null
PB - 국토연구원
SP - 77
EP - 92
SN - 1229-8638
AB - This study aims to analyze underwriting criteria for the public construction projects, focusing on specialty contractors. In order to specify the underwriting criteria, Logit model is used in forecasting construcitng firm's bankruptcy.
Construction guarantee is a contract relation accompanied liabilities of three agents: owner, construction company, guarantee insurance company(called surety agent hereafter). This contract guarantees fulfilment of construction when a agent cannot do his liabilities on the contract. In construction industry, surety agent can exclude unqualified firms from the market. Surety agent evaluate construction companies by reviewing contract document and checking contract conditions. This process is called underwriting.
According to empirical results, the best Logit model includes liquid assets, capital, current net profit, the rate of ordinary income of total capital, uncompleted amount per project. Underwriting criteria is arranged from 0.3 to 0.5.
KW - Construction Guarantee;Underwriting Criteria;Logit Model
DO -
UR -
ER -
Kim, Myeong-soo and Mahnsoon Kwak. (2006). An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms. The Korea Spatial Planning Review, 49, 77-92.
Kim, Myeong-soo and Mahnsoon Kwak. 2006, "An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms", The Korea Spatial Planning Review, vol.49, pp.77-92.
Kim, Myeong-soo, Mahnsoon Kwak "An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms" The Korea Spatial Planning Review 49 pp.77-92 (2006) : 77.
Kim, Myeong-soo, Mahnsoon Kwak. An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms. 2006; 49 77-92.
Kim, Myeong-soo and Mahnsoon Kwak. "An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms" The Korea Spatial Planning Review 49(2006) : 77-92.
Kim, Myeong-soo; Mahnsoon Kwak. An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms. The Korea Spatial Planning Review, 49, 77-92.
Kim, Myeong-soo; Mahnsoon Kwak. An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms. The Korea Spatial Planning Review. 2006; 49 77-92.
Kim, Myeong-soo, Mahnsoon Kwak. An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms. 2006; 49 77-92.
Kim, Myeong-soo and Mahnsoon Kwak. "An Analysis on Underwriting Criteria for Construction Firms: In Case of Specialty Construction Firms" The Korea Spatial Planning Review 49(2006) : 77-92.
