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http://dx.doi.org/10.6106/KJCEM.2018.19.1.074

An Understanding of Domestic Construction Clients' Tender Behavior  

Bae, Juhyeon (Department of Civil & Environmental Engineering, Hanyang University)
Han, SangUk (Department of Civil & Environmental Engineering, Hanyang University)
Kim, Byungi (Department of Civil Engineering, Andong National University)
Publication Information
Korean Journal of Construction Engineering and Management / v.19, no.1, 2018 , pp. 74-79 More about this Journal
Abstract
The establishment of an effective bidding system is critical to ensure both the high quality of civil infrastructure and proper earning of contractors. However, the continuous changes of a bidding system in South Korea reveal that problems such as a dumping or high price winning have not been fully resolved yet. This study thus aims at understanding the bidding behavior and strategies of contractors by analyzing a tender ratio in historical data. Multiple regression analysis is conducted to understand the effect of internal and external factors (e.g., estimated cost, combined value of construction performance evaluation) on a tender ratio. The results statistically show that such factors affect the tender ratio an individual bidder determines and have the varying effect on the tender ratio by contractors' firm size.
Keywords
Bidding; Tender Rate; Tender Behavior; Multiple Regression Analysis;
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