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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 article, the authors synthesize five case studies of SOI projects involving business-nonprofit engagement into a context-intervention-mechanism-outcome (CIMO)-logic framework, where the salience of contextual factors, including compatibility of what the authors term engagement logics as well as institutional logics, influences the interventions deployed, the mechanisms through which interventions operate, and outcomes.
16 citations
TL;DR: In this article, the authors apply the concept of institutional plasticity to analyze institutional change, and investigate why actors are unable to change institutions even when change is apparently necessary, and reveal four limits to institutional change due to the respective roles of key actors.
16 citations
TL;DR: In recent years, dozens of drone development projects have attracted hundreds of millions of euros from EU public research funds with little accountability and scarce political oversight as discussed by the authors. But these projects attracted little accountability.
Abstract: In recent years, dozens of drone development projects have attracted hundreds of millions of euros from EU public research funds with little accountability and scarce political oversight. This arti ...
16 citations
TL;DR: It is theorized and found that (public) organizations that employ more politics in decision‐making can generally appropriate more value from partnerships, and organizations that are more procedurally rational are able to create more value for the partnership, but generally appropriate less value from the partnership.
Abstract: Although partnerships have been conceptualized as vehicles for value creation, less is known about which partners appropriate more value out of them, especially among public organizations. We theorize how politics and procedural rationality in decision‐making respectively are associated with value creation and value appropriation from partnerships between public organizations. Analysis of data from the Dutch water authority sector (2008‐2014) shows that organizations employing more politics in decision‐making appropriate more value from horizontal partnerships, whereas procedural rationality in decision‐making may enhance combined value creation but limits partner‐level value appropriation. Also as theorized, the collective decision‐making context constrains value appropriation by partners using a discrepant decision‐making approach. We discuss implications for research on public organizations, alliances, and strategic decision‐making.
15 citations
TL;DR: It is recommended that a more incremental approach, with clearer contractual goals, penalties and incentives, is adopted in attempting initiatives aimed at the localisation of manufacturing technology by leveraging public procurement.
Abstract: Public–private partnerships (PPPs), widely used as a means of leveraging the skills, expertise and resources of the private sector to mutual advantage, were similarly adopted by South Africa to support public sector delivery. This study has evaluated one such partnership, namely the Biovac Institute, which was established in 2003 to cover vaccine research and development, manufacturing, and supply. The initiative was highly unusual given that it attempted to combine all three aspects in a single PPP. The research has followed a concurrent mixed methods approach. In the quantitative study, data for prices and product volumes were extracted from secondary data sources and used to calculate the economic cost and value-for-money of the PPP. Simultaneously, a qualitative study was undertaken in which a number of key stakeholders were interviewed using a semi-structured questionnaire on their perceptions of the PPP’s value. The institute earns a premium on the procurement cost of a broad range of vaccines required by the South African National Department of Health for its immunisation programme, the net value of which was US$85.7 million over the period 2010 to 2014. These funds were used to finance the institute’s operations, including vaccine research, distribution and quality control. Capital expenditure to support the establishment of facilities for laboratory testing, packaging and labelling, filling, formulation and, finally, active pharmaceutical ingredient manufacture, approximately US$40 million in total, had to be secured through loans and grants. According to the respondents in the qualitative survey, the principal benefit of the PPP has been the uninterrupted supply of vaccines and the ability to respond quickly to vaccine shortages. The main disadvantages appear to have been a slow and ineffectual establishment of a vaccine manufacturing centre and, initially, a limited ability to negotiate highly competitive vaccine prices. Overall, it is concluded that a positive value-for-money has been achieved and the institute has been of significant public benefit. Relationships of this nature can be used to achieve public health goals, but need to be realistic about timeframes, costs and the limitations of relational governance in ensuring that complex programmatic outcomes are achieved. It is recommended that a more incremental approach, with clearer contractual goals, penalties and incentives, is adopted in attempting initiatives aimed at the localisation of manufacturing technology by leveraging public procurement.
15 citations