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TECHNOLOGICAL AND RELATIONAL RISKS AND THE CORPORATE DEVELOPMENT OF TURNKEY CONTRACTORS. THE CASE OF ASTILLEROS GONDÁN IN SHIPBUILDING
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Abstract
Turnkey contractors face a double risk when executing their projects. On the one hand, the risk of failing to meet the requirements of cost, quality, and delivery time agreed with the client. On the other hand, a relational risk caused by the specific investments made by the contractor. Using the case of Astilleros Gondán, SA as empirical evidence, this paper analyzes the role played by project execution capabilities and relational capital in managing the aforementioned risks. Our analysis shows that the key factor when managing these companies is capitalizing on project execution capabilities and relational capital by trying to execute similar projects and/or working with trusted clients.
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