A construction project requires a multitude of people with different skills and interests and the coordination of a wide range of disparate, yet interrelated, activities. Such complexity is further compounded by the unique characteristics of a project and many other external uncertainties. As a result, construction is subject to more risk than other business activities. In a risky situation, individuals or organizations perceive the situation in their own ways and behave differently to meet their own interests. Many researchers have asserted that divergent risk attitudes are sources of mismatched risk perceptions and inconsistent behaviors among project participants in different organizations, which can disturb proactive and consistent organizational activities. The research on risk attitude has, therefore, been advocated to exploring ways to consistently arouse people‘s cognition, affection, and behavior among stakeholders. However, previous research has been a widely misunderstood concept and remains a fragmented focus in the construction field. Evidence on the construction of risk attitude and how it manifests itself is unavailable. To date, prior researchers have suffered from an issue-oriented focus that has resulted in simplified models by studying single level of antecedents of risk attitude and consequences of management performance, rather than multi-level. Moreover, previous studies only focused on the direct relationship between risk attitude and management performance instead of providing a profound conceptualization of the indirect relationship between risk attitude and management performance or empirically exploring risk attitude‘s antecedents and consequences. The current study seeks to bridge this research gap.
Triangulation research is employed as an appropriate research methodology in which both qualitative and quantitative data collection are used to test the research propositions. The research plan draws upon ontology and methodological pluralism.
By adopting the Critical Incident Technique (CIT), coupled with an intensive literature review, one can explore the manifestation of risk attitude and its antecedents by analyzing critical incidents derived from preliminary interviews. Cognitive Motivation Theory (CMT) and Social Cognitive Theory (SCT) provide rationales to combine a processed view of risk attitude and the antecedents and management performance of individuals and organizations into a multi-level model of risk attitude. Responses to a questionnaire survey of 239 individuals nested in 61organizations were analyzed with a blend of Confirmatory Factor Analysis (CFA) and Hierarchical Linear Modeling (HLM) to establish and examine the hypothesized relationships in the theoretical model. To capture the practical manifestation of risk attitude and its influence on management performance, case studies of two ongoing construction projects were performed.
The findings summarized from both qualitative and quantitative studies indicated that risk attitude diverged due to the multi-level influences of its antecedents on project participants, resulting in inconsistent risk perception and risk inclinations. Risk attitude has two levels of manifestation – an individual and organization level. Individual risk attitude manifests itself as cognition, affection, and behavioral inclination, while organizational risk attitude mainly shows up as managerial trust, formalization, an ambiguity of goals and objectives, and a merit system. The findings confirmed that motivated individuals tend to present more consistent risk attitude and be more willing to and capable of exhibiting good management performance. The motivation behind this study is beyond the traditional motivational means. It extends from internal motivation with its locus of control and self-efficacy to external motivation with its interpersonal exchanges, external controls, and observational learning. The risk attitudes of motivated people to evoke better management performance, especially in the process of integrating risk management into a safety management system and the outcome performance of a stakeholder‘s satisfaction and potential to organizations.
The research attempts to advance risk attitude theory by re-conceptualizing the antecedents of risk attitude and the consequences of management performance make the underlying theorizing mechanism explicit and testable. This study also provides practical indications of concrete interventions by managers to make risk attitudes converge and then strengthen safety risk management. The thesis contributes to multi-level analysis in the management research field and differentiates the different levels of participants in construction projects. Methodological pluralism and blended qualitative and quantitative research methods will be addressed to demonstrate the different and complementary perspectives of research. Due to limited samples, the generalizability of the findings in the different project types or across other levels needs to be further verified. / published_or_final_version / Real Estate and Construction / Doctoral / Doctor of Philosophy
| Identifer | oai:union.ndltd.org:HKU/oai:hub.hku.hk:10722/210183 |
| Date | January 2015 |
| Creators | Ma, Shichao, 马世超 |
| Publisher | The University of Hong Kong (Pokfulam, Hong Kong) |
| Source Sets | Hong Kong University Theses |
| Language | English |
| Detected Language | English |
| Type | PG_Thesis |
| Rights | Creative Commons: Attribution 3.0 Hong Kong License, The author retains all proprietary rights, (such as patent rights) and the right to use in future works. |
| Relation | HKU Theses Online (HKUTO) |
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