TOWARDS A CLASSIFICATION OF FAMILY-OWNED CONSTRUCTION FIRMS IN GHANA
DOI:
https://doi.org/10.46827/ejmms.v6i4.1163Palabras clave:
construction industry, family firms, family-owned construction firmsResumo
The Ghanaian construction industry predominated by family-owned construction firms has established its dominant impact on economic development, albeit unstructured. This literature review is to dissect extant literature bringing out the uniqueness of the sector and attempt a classification for family-owned construction firms in Ghana. Anchored in a value-free axiological tradition in which the classification criteria of family-owned construction firms can be obtained by objective means set out in the framework, this study was undertaken by an extensive literature review from journals databases, textbooks, and relevant reports and citations. The review began with searches using “AND” and “OR” operators to search abstracts, titles, and a keyword with no restriction placed on the article's date of publication. Content analysis was done of the articles and with lots of information on family-owned businesses, very few on family-owned construction firms. Existing frameworks on the classification of family-owned businesses formed the basis of this framework. The key findings indicate that small and medium-sized family firms predominate the construction industry. The physiognomies of family-owned construction firms also contribute to their proliferation and overarching importance within the sector. The novelty of this study is that it merges information from the general business and construction industry and carves criteria for which family-owned construction firms can be identified and classified. For academia, the paper contributes to the stream of knowledge on what constitutes family-owned construction firms whilst exposing the lack of research in this constituency. It also serves as the foundation upon which future research can be conducted in the field of family-owned construction firms. For practitioners and policymakers, the paper offers insights into how to identify family-owned construction firms to be able to distinguish them for targeted support to grow the economy. Future research should be targeted at examining the growth and sustainability of family-owned construction firms.
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