Influence of Material and Labour on Construction Index Predictability

This study examines the long-run relationship between construction materials and labour with the construction cost index. The essence is also to investigate the efficiency of the variables that predict the construction index in Turkey. Monthly data from January 2015 to August 2023 was obtained for f...
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Autor*in:	Salami Monsurat Ayojimi [verfasserIn] Tanrıvermiş Yeşim [verfasserIn] Tanrıvermiş Harun [verfasserIn]

Format:	E-Artikel
Sprache:	Englisch ; Französisch

Erschienen:	2023

Schlagwörter:	turkey construction cost index cointegration regression covid-19 labour and material cost indexes

Übergeordnetes Werk:	In: E3S Web of Conferences - EDP Sciences, 2013, 457, p 01017(2023)
Übergeordnetes Werk:	volume:457, p 01017 ; year:2023

Links:	Link aufrufen Link aufrufen Link aufrufen Journal toc

DOI / URN:	10.1051/e3sconf/202345701017

Katalog-ID:	DOAJ096422378

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language	English French
source	In E3S Web of Conferences 457, p 01017(2023) volume:457, p 01017 year:2023
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topic_facet	turkey construction cost index cointegration regression covid-19 labour and material cost indexes Environmental sciences
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container_title	E3S Web of Conferences
authorswithroles_txt_mv	Salami Monsurat Ayojimi @@aut@@ Tanrıvermiş Yeşim @@aut@@ Tanrıvermiş Harun @@aut@@
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callnumber-first	G - Geography, Anthropology, Recreation
author	Salami Monsurat Ayojimi
spellingShingle	Salami Monsurat Ayojimi misc GE1-350 misc turkey misc construction cost index misc cointegration regression misc covid-19 misc labour and material cost indexes misc Environmental sciences Influence of Material and Labour on Construction Index Predictability
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topic_title	GE1-350 Influence of Material and Labour on Construction Index Predictability turkey construction cost index cointegration regression covid-19 labour and material cost indexes
topic	misc GE1-350 misc turkey misc construction cost index misc cointegration regression misc covid-19 misc labour and material cost indexes misc Environmental sciences
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title	Influence of Material and Labour on Construction Index Predictability
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abstract	This study examines the long-run relationship between construction materials and labour with the construction cost index. The essence is also to investigate the efficiency of the variables that predict the construction index in Turkey. Monthly data from January 2015 to August 2023 was obtained for four Turkish indexes on construction, building, residential and non-residential as dependent variables. In contrast, the monthly material and labour cost indexes were obtained as explanatory variables. The study employed the fully-modified ordinary least square (FMOLS) technique. The findings revealed that the material cost index determines a substantial part of the construction index, followed by the labour cost index. However, those costs are less efficiently used. Therefore, the suggestion is that the construction industry should shift from the traditional approach and consider a more efficient approach through technological innovation. This finding supports the need for the construction industries to employ appropriate technology to enhance accurate construction index prediction that could prevent waste from labour slack time and procurement of costly materials. However, the limitation of the study is the data constraint in obtaining more variables for the prediction. Still, material and labour cost indexes used for the prediction are sufficient for making the conclusion of the finding valid.
abstractGer	This study examines the long-run relationship between construction materials and labour with the construction cost index. The essence is also to investigate the efficiency of the variables that predict the construction index in Turkey. Monthly data from January 2015 to August 2023 was obtained for four Turkish indexes on construction, building, residential and non-residential as dependent variables. In contrast, the monthly material and labour cost indexes were obtained as explanatory variables. The study employed the fully-modified ordinary least square (FMOLS) technique. The findings revealed that the material cost index determines a substantial part of the construction index, followed by the labour cost index. However, those costs are less efficiently used. Therefore, the suggestion is that the construction industry should shift from the traditional approach and consider a more efficient approach through technological innovation. This finding supports the need for the construction industries to employ appropriate technology to enhance accurate construction index prediction that could prevent waste from labour slack time and procurement of costly materials. However, the limitation of the study is the data constraint in obtaining more variables for the prediction. Still, material and labour cost indexes used for the prediction are sufficient for making the conclusion of the finding valid.
abstract_unstemmed	This study examines the long-run relationship between construction materials and labour with the construction cost index. The essence is also to investigate the efficiency of the variables that predict the construction index in Turkey. Monthly data from January 2015 to August 2023 was obtained for four Turkish indexes on construction, building, residential and non-residential as dependent variables. In contrast, the monthly material and labour cost indexes were obtained as explanatory variables. The study employed the fully-modified ordinary least square (FMOLS) technique. The findings revealed that the material cost index determines a substantial part of the construction index, followed by the labour cost index. However, those costs are less efficiently used. Therefore, the suggestion is that the construction industry should shift from the traditional approach and consider a more efficient approach through technological innovation. This finding supports the need for the construction industries to employ appropriate technology to enhance accurate construction index prediction that could prevent waste from labour slack time and procurement of costly materials. However, the limitation of the study is the data constraint in obtaining more variables for the prediction. Still, material and labour cost indexes used for the prediction are sufficient for making the conclusion of the finding valid.
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title_short	Influence of Material and Labour on Construction Index Predictability
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Influence of Material and Labour on Construction Index Predictability

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