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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: The utility of synthetic control, a recently developed empirical methodology, for applications in organizational research is assessed by estimating the effect of government intervention in Chrysler's management from 2009 to 2011 on its sales volumes and the impact of Toyota’s 2010 “acceleration crisis” on Camry sales.
Abstract: We assess the utility of synthetic control, a recently developed empirical methodology, for applications in organizational research. Synthetic control acts as a bridge between qualitative and quantitative research methods by enabling researchers to estimate treatment effects in contexts with small samples or few occurrences of a phenomenon or treatment event. The method constructs a counterfactual of a focal firm, or other observational unit, based on an objectively weighted combination of a small number of comparable but untreated firms. By comparing the firm’s actual performance to its counterfactual replica without treatment, synthetic control estimates, under certain assumptions, the magnitude and direction of treatment effects. We illustrate and critique the method in the context of the U.S. auto industry by estimating (a) the effect of government intervention in Chrysler’s management from 2009 to 2011 on its sales volumes and (b) the impact of Toyota’s 2010 “acceleration crisis” on Camry sales.
21 citations
01 Jan 2019
TL;DR: In this paper, the authors examine distinctive narratives of stakeholder value creation and discuss how they consider sustainability, and identify several narratives of stakeholders, value creation, and sustainability, which reveal an increased interest in sustainability issues and their coherent incorporation into stakeholder research in recent years.
Abstract: The purpose of this study is to examine distinctive narratives of stakeholder value creation and discuss how they consider sustainability. Based on an extensive research review spanning over three decades of material, we present four categories of the stakeholder value creation literature: (1) a focal firm orientation with an economic value perspective, (2) a stakeholder orientation with an economic value perspective, (3) a focal firm orientation with a multiple value perspective, and (4) a stakeholder orientation with a multiple value perspective. In each of these categories, we identified several narratives of stakeholders, value creation, and sustainability. This study reveals an increased interest in sustainability issues and their more coherent incorporation into stakeholder research in recent years. We suggest that, with respect to sustainability, future research should consider the dynamic, systemic, and multilevel nature of stakeholder relationships and collaboration. Additionally, a more versatile understanding of value and value creation, as well as a broader comprehension of stakeholders and their needs, should be incorporated into future research. Finally, conceptualising sustainability and the normative core of sustainable business, as well as elaborating on the purpose and role of business regarding sustainability, are interesting focus areas for future research.
21 citations
TL;DR: In this article, the authors used insights from agency theory to propose a public-private partnership (PPP) framework. But, they did not consider the implications of PPP financing and its implications.
Abstract: Public-private partnerships (PPPs) have been subjected to considerable public debate. In particular, this debate has concerned PPP financing and its implications. Using insights from agency theory,...
20 citations
TL;DR: Kivleniece and Quelin this article discuss value creation in public-private business ventures, commenting on the article "Creating and Capturing Value in Public-Private Ties: A Private Actor's Perspective," by I. V.
Abstract: The authors discuss value creation in public-private business ventures, commenting on the article "Creating and Capturing Value in Public-Private Ties: A Private Actor's Perspective," by I. Kivleniece and B. V. Quelin, published elsewhere in the issue. According to the authors, behavioral docility in management can facilitate intersubjective interaction and overcome threats of stakeholder activism and opportunism through the generation of trust and its associated competitive advantages.
20 citations
TL;DR: In this paper, the authors focus on designing a theoretical model of successful partnerships between businesses and NGOs constructed within the perspective of relationship marketing, a theory that is found to be well suited to setting up and maintaining successful, long-term, relational exchanges.
Abstract: Social alliances have become a mechanism that businesses and nongovernmental organizations (NGOs) have adopted in order to work together to address complex social problems that neither sector alone has the knowledge and resources needed to deal with appropriately. In combining the 2 different perspectives, these partnerships can create mutual value. Many such alliances have, however, been unsuccessful. The present work focuses on designing a theoretical model of successful partnerships between businesses and NGOs constructed within the perspective of relationship marketing—a theory that is found to be well suited to setting up and maintaining successful, long-term, relational exchanges.
20 citations