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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 role of the chief executive officer's (CEO) Corporate Social Responsibility Orientation (CSRO) on interfirm cooperation is analyzed and the importance of leading firms in a socially responsible direction is highlighted.
Abstract: This paper intends to analyze the role of the chief executive officer’s (CEO) Corporate Social Responsibility Orientation (CSRO) on interfirm cooperation. Interfirm cooperation is central to gaining competitiveness, particularly in international scenarios where firms must deal with uncertain challenges. Nonetheless, the current understanding of its key determinants needs further development. We argue that whereas environmental hostility pushes firms to cooperate for self-interested purposes, CEOs’ CSRO pulls towards cooperation as an end in itself, even more so under hostile conditions where the need for good-willed committed partners is higher. In a sample of 124 internationalized Spanish firms, we found that CEOs’ CSRO alone increases firms’ international interfirm cooperation and that this impact is stronger under hostile international environments. Our findings thus highlight the importance of leading firms in a socially responsible direction to boost their interfirm cooperation levels in international scenarios.
6 citations
08 Jan 2019
TL;DR: The theoretical framework proposed herein can be used to understand the current status and provide guidance for future smart city initiatives and four key governance structure characteristics of the PPP model that enables the smart city success.
Abstract: Due to the technological and financial complexity and difficulties of smart city initiatives, the local governments usually adopt a public-private partnership model to govern such projects. This study explores the opportunities and challenges of building smart cities through the public-private partnership (PPP) model. Using an exploratory case study methodology, we interviewed participants in building smart city initiatives across China to develop a theoretical model that captures the essence of such a partnership. Case interview data from three major cities in China were utilized. We analyzed the data of 28 interviews with officials and personnel from public, private, and hybrid organizations involved in smart city projects. Finally, we identified and theoretically validated the following research findings: (1) two key components of the success of smart city initiatives; (2) four key governance structure characteristics of the PPP model that enables the smart city success; (3) two key considerations for establishing the governance structure of a PPP model. The theoretical framework we propose herein can be used to understand the current status and provide guidance for future smart city initiatives.
6 citations
TL;DR: In this article, the case explores and offers insight into the boundary-spanning dynamic capabilities of a private-sector family-owned firm from the point of view of sensing, seizing and transforming/reconfiguring perspectives during the opportunity of co-creation of a public-private sector partnership.
Abstract: The case explores and offers insight into the boundary-spanning dynamic capabilities
evidenced by the entrepreneurial CEO of a private-sector family-owned firm from the
sensing, seizing and transforming/reconfiguring perspectives during the opportunity
identification, evaluation and pursuit of the co-creation of a public-private sector partnership
in collaboration with the CEO of a public-sector firm. This partnership, which is situated in a
city-region in the North of England, is seen through the lens of an open business model
whereby value is co-created and captured outside the boundary of a single firm, and which
involves significant financial uncertainty being assigned from the public to the private sector.
6 citations
TL;DR: In this paper, the authors allude that multisided platforms play the role of resource integrators, involving consumers and business partners in a process of co-creation of value.
Abstract: The fundamental basis of all multisided business platforms is the value proposition offered to consumers, on one hand, and to business buyers, on the other hand, and so our starting point must be with the fundamentals concerning the management of value propositions. The competitive strategies of monetization and value creation include: Envelopment, overlapping, freemium, advertising and asymmetry information methods. In this paper, we allude that multisided platforms to play the role of resource integrators, involving consumers and business partners in a process of co-creation of value—an integrated, a networked business model. This is primarily due to a shift in the relative influence of different business stakeholders in the context of the business modeling of two-sided multisided platforms.
6 citations
TL;DR: In this article, a qualitative study with 33 experts from 17 frontrunner companies and 14 partnering NPOs, as well as secondary data, assess the trade-offs between network-reinforcing and network-broadening strategies and explore firms' partner search and selection decisions.
6 citations