Research On Influencing Factors Of Chinese Contractors' Construction Insurance Purchasing Intention

Construction project usually has huge contract amount,long duration and many workers,it is influenced by the natural disasters,accidents and other unexpected factors.The project participants profit in high income environment accompanied by high risk.It is necessary for the contractors to arrange the corresponding risk response strategies,in order to ensure that the project can be successfully finished and the final economic interest.Risk transfer is the main way to deal with risk,and insurance is an important means of risk transfer.Construction insurance as a compensation mechanism,reduces the expected loss by transferring the non-subjective intent of "natural calamities and man-made misfortunes" risk.The insured can choose to purchase the appropriate insurance according to the characteristics of the project,the insurance risk coverage includes the risk of material loss and legal liability,matched dollar-for-dollar with property insurance and liability insurance.Construction insurance has been advocated as a useful financial means to transfer risks and mitigate potential project losses.However,there is a general reluctance to purchase construction insurance in China,contractors are generally not willing to purchase construction insurance.This study aims to exploring the impact factors of the purchase willingness to construction insurance,and exploring the formation mechanism of the Contractor's insurance purchase intention.It provides theoretical foundation for improving the ability of the risk transfer and the purchase intention of construction insurance for contractor.In the concrete research,this thesis combines the domestic and foreign relevant literature and expert interviews,using the framework of the extended theory of planned behavior for study,identifys the factors which affects the purchase intention of construction insurance and finally puts forward the theoretical model.Secondly,this thesis combines with the previous scholars' maturity scale and expert interview,designs questionnaires,investigates and surveys the relevant practitioners who familiar with construction insurance,and do construction insurance purchasing and management work.Analysis the reliability and validity of the questionnaire data and confirms the consistency and validity of data.At last,verifies the hypothesis through the structural equation model.Research results show that,construction insurance purchase intention is influenced by attitude and subjective norm,there is no direct impact on the relationship between perceived behavioral control and behavioral control.At the same time,the results of the data found that two new variables,risk perception and past behavior had a significant impact on attitude and perceived behavior control,and then affect the purchase intention of construction insurance.