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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
References
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TL;DR: In this paper, the authors argue that abrupt shocks either aid or harm the performance of partnerships for responsible innovation depending on whether their domains are directly or indirectly affected by a grand challenge, and they find that while the innovation performance of partnership formed after the outbreak rose elevenfold, the performance in treating Influenza fell by 84.9 percent.
Abstract: Humanity faces ongoing and contemporaneous grand challenges. Occasionally, abrupt shocks
escalate a grand challenge’s salience over others. Prior research has advocated forming
partnerships to address grand challenges via responsible innovation. Yet, it remains unclear
how temporal changes in the salience of a grand challenge impact innovation performances of
partnerships. We address this research gap by bridging the literature on issue salience,
responsible innovation and interorganizational relationships. We argue that shocks either aid
or harm the performance of partnerships for responsible innovation depending on whether
their domains are directly or indirectly affected. The Ebola outbreak in 2014 sets the empirical
context to test our theory. We find that while the innovation performance of Ebola
partnerships formed after the outbreak rose eleven-fold, the performance of partnerships
treating Influenza fell by 84.9 percent. Our theory and findings have immediate implications
for today’s COVID-19 outbreak, cautioning against salience shifts among concurrent grand
challenges.
28 citations
TL;DR: In this article, a financial framework based on mezzanine-type debt for sustainable infrastructure systems (SIS) is proposed, which is based on a post-positivist approach for describing the financial eco-innovation in the sustainable infrastructure context.
Abstract: This paper aims to propose a financial framework based on mezzanine-type debt for financing Sustainable Infrastructure Systems (SIS). In our analysis, an exploratory-type methodology based on a post-positivist approach for describing the financial eco-innovation in the sustainable infrastructure context is used and consequently, the essential framework’s theory is developed, as well as the characteristics and schemes for its functioning. Moreover, the theoretical foundations of financial eco-innovations are analyzed. It was concluded that researchers could benefit from this framework by acquiring a better knowledge of how a mezzanine-debt type could work together sustainability criteria. This paper is expected to contribute to expanding the existing knowledge and expanding funding knowledge frontiers for SIS, as well as contributes to providing a foundation for new research topics. The originality of the proposed framework is intended to establish new ways in order to close the gap between the development of SIS and financing sources using the incorporation of sustainability criteria in the financing process. Thus, the importance of this work is based on the fact that it can be used as an academic support for producing practical solutions.
27 citations
TL;DR: Wang et al. as discussed by the authors conducted a quantitative bibliometric analysis of 299 PPP-related policy documents issued by the Chinese central government between 1980 and 2017, and identified the PPPrelated policy priorities in the following three distinct historical phases: Phase I (1980-1997), the encouragement of foreign investment in the public infrastructure; Phase II (1998-2008), encouragement of the marketization of the urban public utilities; and Phase III (2009-2017), the intensive institutionalization and extensive application of PPPs for solving the local debt problem.
Abstract: This article aims to fill the void in the literature regarding the sustainable development of public–private partnerships (PPPs) by answering the following research questions: (1) Between 1980 and 2017, what were the PPP-related policy priorities in the three different historical phases of the Chinese national agenda that we have identified herein? (2) Have the PPP-related policies shown a pattern of moving toward sustainable development, and if so, to what extent? Against a criteria framework of evaluating how PPP-related policies could contribute to sustainable development, this article conducted a quantitative bibliometric analysis of 299 PPP-related policy documents issued by the Chinese central government between 1980 and 2017. By visualizing the networks of policy keywords and policy-issuing departments, this article identified the PPP-related policy priorities in the following three distinct historical phases: Phase I (1980–1997), the encouragement of foreign investment in the public infrastructure; Phase II (1998–2008), the encouragement of the marketization of the urban public utilities; and Phase III (2009–2017), the intensive institutionalization and extensive application of PPPs for solving the local debt problem. Corresponding to the abovementioned policy priorities, this article found that the pattern of PPP-related policies has shifted from the total absence of sustainable development policies in Phase I, to a few sustainable development policy attempts in Phase II, and finally, to a tendency toward policies favoring sustainable development in Phase III.
26 citations
TL;DR: In this paper, the authors adopt a resource-based view to analyse how public and private collaborations moderate relations among resources and processes and create public value, and show that collaboration with private organizations negatively moderates the effect of resources on public value creation and positively moderates the impact of processes.
Abstract: Collaborative approaches to public management are generally known to represent sources of public value. However, certain theoretical and empirical gaps in understanding this process of value creation persist. We adopt a resource-based view to analyse how public and private collaborations moderate relations among resources and processes and creation of public value. Our results show that collaboration with private organizations negatively moderates the effect of resources on public value creation and positively moderates the effect of processes on public value creation. Collaboration within the public sector positively moderates the effect of resources but not the effect of processes.
25 citations
TL;DR: In this article, the authors investigate the process through which firms and non-profit organizations reconcile divergent worldviews in the development of firm-NPO partnerships and find that during the initial stages of collaboration, partners manage differences by engaging in joint pilot projects and by demonstrating management's commitment to the partnerships.
Abstract: This paper investigates the process through which firms and non-profit organizations (NPOs) reconcile divergent worldviews in the development of firm–NPO partnerships. Drawing on data from two long-lived firm–NPO partnerships, this study suggests that the dynamics of reconciliation in situations of institutional complexity can be better understood by examining how firms and NPOs manage the interplay of both market and social logics in an inter-organizational context. We have found that during the initial stages of collaboration, partners manage differences by engaging in joint pilot projects and by demonstrating management’s commitment to the partnerships. Subsequently, after firms and NPOs sign a formal partnership agreement, they seek to maintain a sustainable mode of interaction by adopting three distinct mechanisms for managing tensions arising from the partnership: negotiating activity scope, monitoring and learning, and modifying organizational practices. Our research findings contribute to the literature on cross-sector partnership and institutional complexity by highlighting the means by which organizations reduce tensions associated with divergent institutional logics and maintain successful partnerships.
25 citations