Impacts of Consumers and Real Estate Enterprises on the Implementation of Prefabrication in Residential Buildings: The Moderating Role of Incentive Policies

Abstract

Based on the theory of Planned Behavior, this study firstly explored the relationship between the behavioral intention and the actual behavior of consumers and real estate enterprises when choosing prefabricated residential buildings. Partial Least Squares Structural Equation Modeling (PLS-SEM) was adopted, being supported by the questionnaire data from 310 respondents of 14 prefabricated building demonstration cities in China, to achieve the purpose. The results show that there is a gap between the behavioral intention and the actual behavior of consumers and real estate enterprises. The moderating effect of reputational incentive policies and financial incentive policies was examined to bridge the gap. It shows that reputational incentive policies and financial incentive policies are an effective way in promoting the behavioral intention and actual behavior of real estate enterprises when adopting prefabricated residential buildings, but they all do not work for consumers. The findings can help government understand the preference of consumers and real estate enterprises, so as to use governance incentive policies more wisely and rationally under various circumstances.