Risk Factors of Building Apartments for University Talent through the Agent Construction Mode in China: Interrelationship and Prioritization

Zhengrong Liu, Wendan Jiang, Yuzhe Wu and Yi Peng
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Zhengrong Liu: Real Estate Management Office, Zhejiang University, Hangzhou 310058, China
Wendan Jiang: Department of Land Management, Zhejiang University, Hangzhou 310058, China
Yuzhe Wu: Department of Land Management, Zhejiang University, Hangzhou 310058, China
Yi Peng: School of Public Administration, Zhejiang University of Finance & Economics, Hangzhou 310018, China

Sustainability, 2016, vol. 8, issue 4, 1-13

Abstract: Apartments for university talent (AUT), are apartments provided to staff at non-market price, in order to attract outstanding scholars from around the world to work in universities and improve educational quality. This has been a critical issue in achieving social sustainability in China during rapid urbanization and industrialization. The agent construction mode has been adopted to build AUT because universities usually lack relevant management experience. The agent construction mode is a type of turnkey engineer construction based on the principal-agent model, project bidding mode, engineering contracting projects, and project supervision system. Risk factors are important considerations for both universities and agent construction companies. Although some studies have investigated the risk factors, only a few studies have identified the hierarchical structure of relevant risk factors. Therefore, the interrelationship and prioritization of the risk factors remain unknown, and this situation presents a barrier to better risk management. This paper investigates the interrelationship of risk factors with interpretative structural modeling (ISM). In addition, fuzzy MICMAC (matric d’impacts croises-multiplication appliqué a un classemen) analysis was conducted to prioritize the risk factors. The findings provide useful references for better risk management of building AUT through the agent construction mode. Although this study focuses on China, the analytical process can also be generalized to other research topics and other countries.

Keywords: agent construction mode; apartments for university talent; social sustainability; risk factor; interrelationship; ISM; fuzzy MICMAC; China (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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