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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, a risk relationship network within infrastructure PPP projects was identified, and the network structure characteristics were analyzed, including individual node attributes and the influence and cohesion of subgroups.
Abstract: Due to the relatively long period and large capital flow of public-private partnership (PPP) projects, PPP participants are faced with a complex risk situation impeding the sustainable project delivery. In recent years, risk management of PPP projects has received increasing attention. In this paper, twenty risk factors associated with infrastructure PPP projects were identified by literature review and in-depth case studies. Relationship data for these twenty typical risk factors were obtained through structured interviews. Based on the obtained data, the risk relationship network within infrastructure PPP projects was identified, and the network structure characteristics were analyzed, including individual node attributes and the influence and cohesion of subgroups. The results indicate that key risk factor nodes can form a reaction chain via bridge nodes that can trigger a risk domino effect within PPP projects. Specifically, the key risk factors of PPP projects are divided into two categories, the first of which include risk factors that have powerful and independent influence, such as delay in government approval, government credit, and imperfect legal and regulatory systems. The second category includes risk factors that are highly vulnerable and easily influenced, such as completion risks, insufficient revenue in the market, and fee change. A key risk factor reaction chain is one in which legal change leads to a decline in government credit rating, triggering a contract risk. Twelve bridge nodes were identified that play an important intermediary role in the network, e.g., legal change, public objection, and financing risk. This paper extends the application of social network analysis in PPP projects management research and identifies the key risk factors and crucial factors influencing chain reactions in PPP projects. The results provide a more in-depth understanding of sustainable PPP project management for government agencies and private enterprises.
41 citations
TL;DR: In this paper, the authors bring together contributions of a nascent community of scholars studying infrastructure delivery models; what they are, how they are created, and how they change over time and across institutional fields.
Abstract: This special issue seeks to bring together contributions of a nascent community of scholars studying infrastructure delivery models; what they are, how they are created, and how they change over time and across institutional fields. This area of research is crucial to advancing the field of project management and, with its links to neighboring fields such as innovation, organizational theory, and strategic management, is a fertile ground for developing new insights and knowledge. Before we introduce the articles that make up the special issue, we describe the policy environment and drivers for innovation in infrastructure delivery models, situate infrastructure delivery models within project management scholarship, and provide some conceptual scaffolding for considering the nature of innovation in delivery models. We then turn to a discussion of how each article in the special issue advances our knowledge of delivery models and project management. Drawing inspiration from the articles, we conclude by sketching out the building blocks and core conceptual components of a delivery model, and laying the foundations for a more nuanced comparison of existing, emerging, and novel delivery models over time and across institutional fields.
41 citations
TL;DR: In this article, a systematic review of the literature on stakeholder theory in project management during the past nine years, with the aim of providing a comprehensive view of this relationship, revealing its impact and influence on sustainability, and finding new research paths.
Abstract: Nowadays the advance towards sustainability poses a global challenge for modern society as well as for companies. Professionals and academics continually redefine business processes and design management mechanisms in a more appropriate way in order to allow companies to balance economic activity with the environmental and social impact that they generate. Under this complex and dynamic scenario, creating a product, providing a service, or achieving a given result requires a different interpretation of the efficiency paradigm and an adequate socio-environmental intelligence. In the context of project management, sustainability-related knowledge, skills, and suitable tools are necessary to face this challenge. Moreover, its close relationship with stakeholder theory presents an alternative to approach that purpose. This article attempts a systematic review of the literature on stakeholder theory in project management during the past nine years, with the aim of providing a comprehensive view of this relationship, revealing its impact and influence on sustainability, and finding new research paths. We highlight the potential benefits derived from this relationship, either as an instrument for the promotion of corporate social responsibility and inclusive policies, as a means for the generation of shared value and technological innovation, or as a key factor in the strategy and business management of a given project.
41 citations
TL;DR: In this article, the authors propose a public-private partnership (PPP) model for the organization of business activities at the public interface, which is illustrated by the emergent phenomenon of PPPs.
Abstract: There has been a growing interest in the organization of business activities at the public interface as illustrated by the emergent phenomenon of public–private partnerships (PPPs). In this study, ...
40 citations
TL;DR: In this paper, the authors theoretically and empirically investigate how governance mechanisms address information asymmetry arising in capturing, sharing and interpreting information generated by digital technologies, particularly in relationships undergoing digital transformation.
Abstract: Purpose Inter-organisational governance is an important enabler for information processing, particularly in relationships undergoing digital transformation (DT) where partners depend on each other for information in decision-making. Based on information processing theory (IPT), the authors theoretically and empirically investigate how governance mechanisms address information asymmetry (uncertainty and equivocality) arising in capturing, sharing and interpreting information generated by digital technologies. Design/methodology/approach IPT is applied to four cases of public–private relationships in the Dutch infrastructure sector that aim to enhance the quantity and quality of information-based decision-making by implementing digital technologies. The investigated relationships are characterised by differing degrees and types of information uncertainty and equivocality. The authors build on rich data sets including archival data, observations, contract documents and interviews. Findings Addressing information uncertainty requires invoking contractual control and coordination. Contract clauses should be precise and incentive schemes functional in terms of information requirements. Information equivocality is best addressed by using relational governance. Identifying information requirements and reducing information uncertainty are a prerequisite for the transformation activities that organisations perform to reduce information equivocality. Practical implications The study offers insights into the roles of both governance mechanisms in managing information asymmetry in public–private relationships. The study uncovers key activities for gathering, sharing and transforming information when using digital technologies. Originality/value This study draws on IPT to study public–private relationships undergoing DT. The study links contractual control and coordination as well as relational governance mechanisms to information-processing activities that organisations deploy to reduce information uncertainty and equivocality.
40 citations