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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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TL;DR: In this article, the authors employed a systematic procedure to review the literature on universities-industry collaboration (UIC) and identified five key aspects, which underpinned the theory of UIC.
Abstract: The collaboration between universities and the industry is increasingly perceived as a vehicle to enhance innovation through knowledge exchange. This is evident by a significant increase in studies that investigate the topic from different perspectives. However, this body of knowledge is still described as fragmented and lacks efficient comprehensive view. To address this gap, we employed a systematic procedure to review the literature on universities-industry collaboration (UIC). The review resulted in identifying five key aspects, which underpinned the theory of UIC. We integrate these key aspects into an overarching process framework, which together with the review, provide a substantial contribution by creating an integrated analysis of the state of literature concerning this phenomenon. Several research avenues are reported as distilled from the analysis.
495 citations
TL;DR: In this article, the authors argue that the time is ripe to rethink academic entrepreneurship and that more stakeholders have become involved in academic entrepreneurship, and that universities have become more strategic in their approach to this activity.
Abstract: Academic entrepreneurship, which refers to efforts undertaken by universities to promote commercialization on campus and in surrounding regions of the university, has changed dramatically in recent years. Two key consequences of this change are that more stakeholders have become involved in academic entrepreneurship and that universities have become more ‘strategic’ in their approach to this activity. The authors assert that the time is ripe to rethink academic entrepreneurship. Specifically, theoretical and empirical research on academic entrepreneurship needs to take account of these changes, so as to improve the rigour and relevance of future studies on this topic. We outline such a framework and provide examples of key research questions that need to be addressed to broaden understanding of academic entrepreneurship.
408 citations
TL;DR: This study analyzes over 1400 publications from a wide range of disciplines over a 20-year time period and synthesizes formerly dispersed research perspectives into a comprehensive multi-dimensional framework of public-private partnerships.
348 citations
01 Jun 1996
TL;DR: A review of the literature on Pareto-optimal allocation of public goods can be found in this paper, where the authors focus on the problem of finding the optimal level of provision of a public good without any explicit assumption concerning the distribution of private goods and hence of utility.
Abstract: The systematic tendency toward underprovision of a public good that seems to be implied by the model of Nash-Cournot equilibrium has encouraged extensive analysis of alternative allocative mechanisms and their evaluation against the yardstick provided by the set of Pareto-efficient allocations. The aim of this chapter, which is necessarily highly selective, is to review some of this large and varied literature. We begin with a closer look at the set of Pareto-efficient, or Paretooptimal, allocations. Pareto-optimal provision of public goods In the public goods economy, just as in its private goods counterpart, the optimality criterion typically identifies not one, but an infinite number of allocations – all the points on the utility possibilities frontier between R and S in Figure 7.1. Any discussion of “the optimum” must presuppose either a very special structure, so that there is, indeed, a single optimal level of Q associated with every allocation along the frontier RS , or else the introduction of some kind of social welfare function that enables us to rank optima and pick out the optimum optimorum. Economists have, however, often expressed and relied upon the hope that certain allocation decisions can be made without reference to distributional considerations. In the present context, this is reflected in many treatments that refer to the optimal level of provision of a public good without any explicit assumption concerning the distribution of private goods and hence of utility.
282 citations
TL;DR: In this paper, a holistic business model framework is developed, which is then used to analyse the empirical evidence from the creative industries, and three new themes for future research are highlighted.
262 citations
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TL;DR: In this paper, the authors show how research on science commercialization may yield conceptual contributions to the field of management and discuss the importance of context for theory development, identifying two facets used to conceptualize science commercialisation (i.e., managing the transition between institutional contexts, and the multiple goals and impacts of actors engaging in science commercializing).
Abstract: Universities and research centres have long been used to study management issues. A growing body of research has focused on how science can be effectively commercialized, emphasizing technology commercialization activities, university–industry collaborations, and academic entrepreneurship. While much of this work has documented empirical relationships, our aim in this introductory article of the special issue is to show how research on science commercialization may yield conceptual contributions to the field of management. Hence, we first discuss the importance of context for theory development. We then review how the science commercialization context has been used for theory development, identifying two facets used to conceptualize science commercialization (i.e., managing the transition between institutional contexts, and the multiple goals and impacts of actors engaging in science commercialization). This forms the basis for discussing what makes this context suited for theory development in general management and for outlining a future research agenda. We conclude by summarizing the papers in the special issue.
44 citations
TL;DR: In this article, the relative merits of state and private ownership on firm invention output in emerging as well as developed economies were examined, and it was shown that, given relatively higher levels of managerial autonomy, SOEs may outperform POEs in some types of inventive output.
Abstract: We examine the relative merits of state (SOE) and private (POE) ownership on firm invention output in emerging as well as developed economies. Firm SOE affords a vehicle by which governments throughout the world encourage risky investment in new technological paths. Yet, from a traditional agency–theoretical standpoint, SOEs are plagued by low-powered incentives and dysfunctional involvement (e.g., wasteful budgets and political meddling), which reduces SOE performance, relative to POEs. To examine this paradox, we build an extended agency model which, rather than overlooking agency cost drivers, entertains a more balanced view, in which these so-called agency “liabilities” in fact benefit SOEs, particularly in the sphere of inventions. We argue that, given relatively higher levels of managerial autonomy, SOEs may outperform POEs in some types of inventive output. We further propose that key boundary conditions operate to modify this base effect, in that contexts lacking political constraints – a condition found in most emerging economies – increase the risk of political meddling, reducing managerial autonomy so that any SOE inventive advantages wane significantly. We also hypothesize that this negative effect of weak institutions is attenuated in high invention productivity sectors. Empirically, we track the frequency, pioneerism, and impact of patent inventions of 521 SOEs and matched POEs for 16 years, across 43 countries and 22 industries. We find empirical support for our hypotheses based on a robust set of fixed-effects regression analyses, aided by a battery of checks to assess self-selection and omitted variable bias.
43 citations
TL;DR: In this paper, the authors examined the roles actors play to develop public-private partnerships in the context of centralized public procurement and how these roles change during the procurement process, by applying role theory and the typologies of managerial and intermediary roles.
43 citations
TL;DR: In this paper, a search strategy identified 14 behavioural change programmes that involved tourism businesses and half of these programmes label themselves as social marketing; the others tend to be part of corporate social responsibility efforts, using a form of Corporate Social Marketing (CSM).
Abstract: Social marketing is regarded as an effective consumer-oriented approach to promoting behavioural change and improved well-being for individuals, communities and society. However, its potential for tourism, especially sustainable tourism, remains under-researched. This article examines the utilisation of social marketing by tourism businesses. A search strategy identified 14 behavioural change programmes that involved tourism businesses. Half of these programmes label themselves social marketing; the others tend to be part of corporate social responsibility efforts, using a form of corporate social marketing (CSM). Most programmes seek to encourage pro-environmental behaviours in tourists, tourism businesses and other stakeholders including suppliers. Although tourism businesses can develop social marketing programmes alone, typically they collaborate with public and non-profit agencies as partners and sponsors. The strength of the tie between the promoted behaviour and the sale of a company's prod...
42 citations
TL;DR: It is proposed that infrastructure P3s should be analyzed and governed as the dynamic arrangements they are—constellations of stakeholders that change individually and undergo change collectively over a long life cycle of different phases.
Abstract: This research adds to work on the development of infrastructure public-private partnership projects (P3s), which is a rapidly growing mode of infrastructure service delivery. Infrastructure P3 proj ...
42 citations