Accès libre

Understanding the effects of BIM implementation in corporation finance: An empirical study in China

Zhimin Wang
Zhimin Wang
 et 
Jianjun Ma
Jianjun Ma
   | 20 nov. 2021
Organization, Technology and Management in Construction: an International Journal's Cover Image
À propos de cet article
Article précédent
Article suivant
Citez
Article Category: Research Paper
Publié en ligne: 20 nov. 2021
Pages: 2484 - 2495
Reçu: 05 juil. 2020
Accepté: 10 mars 2021
DOI: https://doi.org/10.2478/otmcj-2021-0028
Mots clés
© 2021 Zhimin Wang et al., published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Fig. 1

The total effect of BIM adoption toward profitability. BIM, building information modeling.
The total effect of BIM adoption toward profitability. BIM, building information modeling.

Fig. 2

The mediation models of BIM toward profitability. BIM, building information modeling.
The mediation models of BIM toward profitability. BIM, building information modeling.

Fig. 3

The changes in BIM adoption among the listed AEC companies in China. AEC, architecture, engineering and construction; BIM, building information modeling.
The changes in BIM adoption among the listed AEC companies in China. AEC, architecture, engineering and construction; BIM, building information modeling.

Fig. 4

Mediation effect of BIM implementation in non-SOEs. BIM, building information modeling; Non-SOEs, non-state-owned enterprises; SOEs, state-owned enterprises.
Mediation effect of BIM implementation in non-SOEs. BIM, building information modeling; Non-SOEs, non-state-owned enterprises; SOEs, state-owned enterprises.

Impacts of BIM adoption on cost reductions

Dependent variables Model (10) All samples Model (11) SOEs Model (12) Non-SOEs
BIM −3.490*** (−3.881) −2.104 (−1.438) −3.870*** (−3.444)
SOE 4.272*** (7.286)
Age 0.027 (0.466) 0.174** (2.069) −0.191** (−2.447)
Size 0.757*** (3.711) 1.216*** (4.466) −0.241 (−0.724)
Top −0.074*** (−4.349) −0.084*** (−3.207) −0.087*** (−3.887)
Lev 0.234*** (14.548) 0.165*** (7.020) 0.293*** (13.057)
Growth 0.008 (1.378) 0.030*** (3.575) −0.010 (−1.307)
Tangible 0.077*** (3.552) 0.070*** (2.748) 0.053 (1.143)
_cons 43.612*** (20.029) 45.878*** (14.666) 53.382*** (16.761)
Year Fixed Fixed Fixed
Industry Fixed Fixed Fixed
N 2,289 1,141 1,148
R2 0.443 0.506 0.404
p-value 0.000 0.000 0.000

Results of descriptive analysis

Variables Observation Mean Standard Deviation Minimum Maximum
ROA 2,705 6.918 15.731 −5.923 28.094
Cost 2,705 69.382 15.731 25.247 95.596
Cycle 2,705 5.867 1.337 1.053 8.715
Admin 2,705 8.770 8.273 1.188 55.353
Age 2,704 17.438 5.928 0 35
Top 2,289 59.270 16.246 23.38 94.66
Lev 2,705 55.579 20.677 8.596 90.803
Growth 2,635 20.262 43.112 −64.930 261.231
Tangible 2,705 9.915 14.294 0.063 73.782

The influences of BIM adoption and mediators on financial performance

Dependent variables Model (13) All samples Model (14) SOEs Model (15) Non-SOEs
BIM 1.510*** (3.995) 1.180*** (3.063) 0.990*** (2.643)
Admin −0.106*** (−7.456)
Cycle −0.618*** (−4.242)
Cost −0.091*** (−9.187)
Age 0.023 (0.883) 0.000 (0.014) −0.009 (−0.366)
Size 0.475*** (4.196) 0.546*** (4.757) 0.592*** (5.358)
Top 0.067*** (8.774) 0.071*** (9.306) 0.067*** (8.982)
Lev −0.083*** (−10.414) −0.055*** (−6.890) −0.037*** (−4.663)
Growth 0.019*** (7.409) 0.021*** (7.845) 0.022*** (8.397)
Tangible −0.048*** (−3.064) −0.077*** (−4.615) −0.051*** (−3.311)
_cons 4.298*** (3.735) 5.675*** (3.716) 5.973*** (5.058)
Year Fixed Fixed Fixed
Industry Fixed Fixed Fixed
N 1,148 1,148 1,148
R2 0.295 0.272 0.312
p-value 0.000 0.000 0.000

Impacts of BIM adoption on effectiveness

Independent variables Model (4) All samples Model (5) SOEs Model (6) Non-SOEs
BIM 1.128** (2.077) 0.705 (0.974) 1.580** (2.007)
SOE −1.462*** (−4.127)
Age −0.015 (−0.435) −0.147*** (−3.525) 0.144*** (2.638)
Size −0.533*** (−4.322) −0.428*** (−3.181) −1.299*** (−5.570)
Top −0.068*** (−6.592) −0.061*** (−4.677) −0.078*** (−5.011)
Lev −0.152*** (−15.659) −0.125*** (−10.723) −0.178*** (−11.315)
Growth −0.027*** (−7.701) −0.024*** (−5.611) −0.028*** (−5.212)
Tangible 0.015 (1.146) −0.024* (−1.914) 0.075** (2.304)
_cons 26.310*** (20.005) 24.715*** (15.987) 29.799*** (13.356)
Year Fixed Fixed Fixed
Industry Fixed Fixed Fixed
N 2,289 1,141 1,148
R2 0.289 0.241 0.324
p-value 0.000 0.000 0.000

Variables list

Variables Name Code Calculations
Dependent variable Profitability ROA Net income/Total assets
Independent variable BIM adoption BIM 1 = adopted BIM0 = did not adopt BIM
Mediation variables Effectiveness Admin Administration expense/Revenue
Efficiency Cycle Ln (business cycle)
Cost reduction Cost Cost of revenue/Revenue
Control variables Nature of the enterprise SOE 1 = SOEs0 = Non-state-owned enterprise
Size Size Ln (number of staff)
Age Age Year–Foundation year
Ownership concentration Top The shares ratio of top 10 shareholders
Leverage Lev Assets-liability ratio
Growth of sales Growth Revenuet/Revenuet−1
Tangible ratio Tangible Fixed assets/total assets
Year Year Dummy variable of year
Industry Industry Dummy variable of industry

Impacts of BIM adoption on financial performance

Independent variables Model (1) All samples Model (2) SOEs Model (3) Non-SOEs
BIM 0.916*** (3.334) 0.185 (0.475) 1.342*** (3.473)
SOE −0.653*** (−3.646)
Age 0.053*** (3.057) 0.083*** (3.721) 0.008 (0.292)
Size 0.270*** (4.327) 0.262*** (3.616) 0.614*** (5.362)
Top 0.058*** (11.083) 0.038*** (5.428) 0.075*** (9.752)
Lev −0.061*** (−12.502) −0.064*** (−10.206) −0.064*** (−8.277)
Growth 0.016*** (9.321) 0.009*** (3.954) 0.022*** (8.453)
Tangible −0.024*** (−3.671) −0.008 (−1.221) −0.056*** (−3.499)
_cons 3.696*** (5.554) 4.162*** (5.005) 1.125 (1.027)
Year Fixed Fixed Fixed
Industry Fixed Fixed Fixed
N 2,289 1,141 1,148
R2 0.246 0.282 0.260
p-value 0.000 0.000 0.000

Impacts of BIM adoption on efficiency

Dependent variables Model (7) All samples Model (8) SOEs Model (9) Non-SOEs
BIM −0.133* (−1.890) 0.072 (0.596) −0.261*** (−3.330)
SOE −0.092** (−1.999)
Age −0.020*** (−4.534) −0.024*** (−3.429) −0.012** (−2.219)
Size −0.100*** (−6.267) −0.035 (−1.560) −0.110*** (−4.735)
Top −0.009*** (−6.898) −0.011*** (−5.006) −0.006*** (−3.666)
Lev 0.009*** (6.970) 0.005** (2.387) 0.015*** (9.374)
Growth −0.002*** (−5.090) −0.002*** (−2.809) −0.003*** (−4.704)
Tangible −0.025*** (−14.720) −0.019*** (−8.934) −0.034*** (−10.304)
_cons 8.089*** (47.438) 8.081*** (31.340) 7.366*** (33.119)
Year Fixed Fixed Fixed
Industry Fixed Fixed Fixed
N 2,289 1,141 1,148
R2 0.539 0.624 0.466
p-value 0.000 0.000 0.000
eISSN:
1847-6228
Langue:
Anglais
Périodicité:
Volume Open
Sujets de la revue:
Engineering, Introductions and Overviews, other
RSS Feed de la revue