Posted Content•
Creating and Capturing Value in Public-Private Ties: A Private Actor's Perspective
TL;DR: The authors identify the value creation and capture mechanisms embedded in these ties through a theoretical framework of two conceptual public-private structural alternatives, each associated with different value-creating capacities, rationales, and outcomes.
Abstract: Intersecting the boundaries of public and private economic activity, public-private ties carry important organizational strategy, management, and policy implications. We identify the value creation and capture mechanisms embedded in these ties through a theoretical framework of two conceptual public-private structural alternatives, each associated with different value-creating capacities, rationales, and outcomes. Two important restraints on private value capture--public partner opportunism and external stakeholder activism--arise asymmetrically under each form, carrying a critical effect on partnership outcomes.
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01 Jan 2014
TL;DR: In this article, the problem of long-term relational contracting in the infrastructure P3 domain is addressed, and an integrated theoretical framework is proposed to capture the complexity of P3 infrastructure projects over their lifecycle.
Abstract: The quality of civil infrastructure is widely accepted to be a determinant of public health and the vitality of economies. However, governments of emerging market countries face enormous financial, fiscal and capacity challenges in delivering sorely needed new infrastructure for their growing and rapidly urbanizing populations. At the same time, financially and fiscally strapped governments of mature market economies are struggling to upgrade and retrofit their aging and obsolete infrastructure. Economies at both ends of the development spectrum need more robust project governance that can enable new forms of finance to accelerate and enhance the development of critical infrastructure. Over the past two decades, governments worldwide have experimented with differing approaches for awarding long term (25-99 year) concessions, called “Public-Private Partnerships (P3s),” to finance, design, build and operate individual infrastructure assets previously financed and operated by governments. This conference paper lays out the problem of long term relational contracting in the infrastructure P3 domain, describes the intellectual challenges in developing an integrated theory that can address it, presents key points of departure from multiple disciplines that have previously been fragmented in their views of relational contracting, and a lays out a research strategy for developing an integrated theoretical framework to capture the complexity of P3 infrastructure projects over their lifecycles. The research described in this paper is in its infancy, so we have very few findings to report at this time. This conference paper is intended to provide an overview of the theoretical challenges and a review of relevant literature to inform other researchers working on aspects of this problem, and to propose a research approach that can lead to more integrated and coherent theoretical frameworks for understanding and enhancing the governance of P3 infrastructure projects. Our oral presentation at the conference will present preliminary findings from our roundtables and interviews conducted to date. A companion paper by South et al in this conference, presents more detail about the stakeholder engagement phase of this research, which is more mature.
14 citations
TL;DR: In this article, the authors study the planning process for reusing cultural heritage within urban redevelopment projects and identify barriers to and drivers for stakeholder commitment, and find that although there is a strong belief in the added value of reuse cultural heritage, dealing with uncertainty over costs and benefits associated with heritage transformation is a major barrier.
Abstract: Purpose – The purpose of the study is to generate insights into the planning process for reusing cultural heritage within urban redevelopment projects and identifies barriers to and drivers for stakeholder commitment.
Design/methodology/approach – Characteristics of five Dutch urban redevelopment projects with built cultural heritage are studied in terms of the context, interaction and commitment. The findings are confronted with insights from urban planning literature.
Findings – The study shows that although there is a strong belief in the added value of reusing cultural heritage, dealing with uncertainty over costs and benefits associated with heritage transformation is a major barrier. There is no standard planning strategy to deal with these issues. Further, we could not identify a direct link between the planning strategy used and the commitment of key stakeholders. Nevertheless, it seems that a shared framework and a shared belief in the heritage's added value are vital.
Research limitations/implications – The study has an explorative character meaning that further analysis is needed to gain a greater understanding on how planning strategies affect stakeholder commitment in cultural heritage projects. As only cases in the Netherlands are studied, institutional differences are not considered.
Practical implications – This study can help practitioners to develop planning strategies by offering insight into a number of barriers and dilemmas that need to be overcome in the planning process.
Originality/value – This study explains why the presence of cultural heritage creates difficulties in adapting available planning tools and in developing new sustainable strategic planning approaches
13 citations
TL;DR: In this article, the authors empirically examine the configurations of conditions that lead to lasting cross-sector social collaboration and introduce the concept of double relationality to explain the interdependence of structure and action in lasting cross sector social collaboration.
Abstract: Cross-sector social collaborations are increasingly recognised as valuable inter-organizational arrangements that seek to combine the commercial capabilities of private sector companies with the deep knowledge of social and environmental issues enrooted in social sector organizations. In this paper we empirically examine the configurations of conditions that lead to lasting cross-sector social collaboration. Situating our enquiry in Schutz’s theory of life-worlds and the reciprocity literature, we employ fuzzy-set qualitative comparative analysis (fsQCA) to analyse data gathered from 60 partners in 30 cross-sector social collaborations. We find two distinct types of configurational pathways leading to lasting cross-sector social collaboration which we label reciprocal economic exchange based on direct reciprocity, and reciprocal social exchange based on generalised reciprocity. The pathways vary in terms of the delivery of expected and unexpected resources and benefits. We introduce the concept of double relationality to explain the interdependence of structure and action in lasting cross sector social collaboration.
13 citations
TL;DR: In this paper, the authors proposed a framework for analyzing world heritage finance and then argued that the increase in “windfall” value should be captured and transferred to land owners in World Heritage Sites.
13 citations
References
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Book•
01 Jan 1990TL;DR: Douglass C. North as discussed by the authors developed an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time.
Abstract: Continuing his groundbreaking analysis of economic structures, Douglass North develops an analytical framework for explaining the ways in which institutions and institutional change affect the performance of economies, both at a given time and over time. Institutions exist, he argues, due to the uncertainties involved in human interaction; they are the constraints devised to structure that interaction. Yet, institutions vary widely in their consequences for economic performance; some economies develop institutions that produce growth and development, while others develop institutions that produce stagnation. North first explores the nature of institutions and explains the role of transaction and production costs in their development. The second part of the book deals with institutional change. Institutions create the incentive structure in an economy, and organisations will be created to take advantage of the opportunities provided within a given institutional framework. North argues that the kinds of skills and knowledge fostered by the structure of an economy will shape the direction of change and gradually alter the institutional framework. He then explains how institutional development may lead to a path-dependent pattern of development. In the final part of the book, North explains the implications of this analysis for economic theory and economic history. He indicates how institutional analysis must be incorporated into neo-classical theory and explores the potential for the construction of a dynamic theory of long-term economic change. Douglass C. North is Director of the Center of Political Economy and Professor of Economics and History at Washington University in St. Louis. He is a past president of the Economic History Association and Western Economics Association and a Fellow, American Academy of Arts and Sciences. He has written over sixty articles for a variety of journals and is the author of The Rise of the Western World: A New Economic History (CUP, 1973, with R.P. Thomas) and Structure and Change in Economic History (Norton, 1981). Professor North is included in Great Economists Since Keynes edited by M. Blaug (CUP, 1988 paperback ed.)
27,080 citations
TL;DR: The population problem has no technical solution; it requires a fundamental extension in morality.
Abstract: The population problem has no technical solution; it requires a fundamental extension in morality.
22,421 citations
01 Mar 2010
18,472 citations
Book•
01 Jan 1984TL;DR: The Stakeholder Approach: 1. Managing in turbulent times 2. The stakeholder concept and strategic management 3. Strategic Management Processes: 4. Setting strategic direction 5. Formulating strategies for stakeholders 6. Implementing and monitoring stakeholder strategies 7. Conflict at the board level 8. The functional disciplines of management 9. The role of the executive as mentioned in this paper.
Abstract: Part I. The Stakeholder Approach: 1. Managing in turbulent times 2. The stakeholder concept and strategic management 3. Stakeholder management: framework and philosophy Part II. Strategic Management Processes: 4. Setting strategic direction 5. Formulating strategies for stakeholders 6. Implementing and monitoring stakeholder strategies Part III. Implications for Theory and Practice: 7. Conflict at the board level 8. The functional disciplines of management 9. The role of the executive.
17,404 citations
TL;DR: In this paper, the authors consider the relation between the exploration of new possibilities and the exploitation of old certainties in organizational learning and examine some complications in allocating resources between the two, particularly those introduced by the distribution of costs and benefits across time and space.
Abstract: This paper considers the relation between the exploration of new possibilities and the exploitation of old certainties in organizational learning. It examines some complications in allocating resources between the two, particularly those introduced by the distribution of costs and benefits across time and space, and the effects of ecological interaction. Two general situations involving the development and use of knowledge in organizations are modeled. The first is the case of mutual learning between members of an organization and an organizational code. The second is the case of learning and competitive advantage in competition for primacy. The paper develops an argument that adaptive processes, by refining exploitation more rapidly than exploration, are likely to become effective in the short run but self-destructive in the long run. The possibility that certain common organizational practices ameliorate that tendency is assessed.
16,377 citations