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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
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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
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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
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01 Jun 1996TL;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
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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 focus on the motivations of consumers to financially contribute to a cooperative by examining the risks and benefits associated with the investment and find that the risks related to cost sharing and switching costs are important determinants for consumers.
6 citations
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TL;DR: In this paper, the authors argue that the Critical Success Factors (CSFs) of PPP projects are distinctive to the context of location and time and that subjectivity has implications for the “guaranteed†success of both existing and future PP projects.
Abstract: The inability of the public sector to independently meet the increasing demand for infrastructure and services has prompted many governments to adopt Public-private partnership (PPP) as an alternative strategy. In worldwide practices, however, there are mixed results and controversy in the application of PPP model. The Public-private partnership has, for this reason, become an increasingly active research area mainly to establish the Critical Success Factors (CSFs) towards improving the PPP model. This article reviews the current debate on the subject of PPP and compares the findings of different literature regarding the relative importance of CSFs of PPP projects. The authors argue that the CSFs of PPP projects are distinctive to the context of location and time. The article concludes that this subjectivity has implications for the “guaranteed†success of both existing and future PPP projects.
5 citations
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TL;DR: In this paper, the authors examine the conditions under which hybrid arrangements outperform the polar cases of public bureaus and full privatization in the delivery of a specific subset of public goods that the authors identify as critical services.
5 citations
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01 Aug 2018TL;DR: In this paper, the authors investigated the effects of public and private capabilities on cost and quality of outsourced public sector service contracts, and verified that company experience has a positive influence on quality indicators; however, from the public interest point of view, financial capacities negatively affect cost indicators.
Abstract: With the intent of contributing to the Applied Strategy literature in Public Management and assisting public manager decision-making, this research investigated the effects of public and private capabilities on cost and quality of outsourced public sector service contracts. To do so, we studied 167 service contracts between a Federal Public Administration entity and various private providers, during the period from 2002 to 2015. Data collected were organized in a specific dataset and analyzed using multivariate regressions. Results suggest that, in the face of an environment characterized by modest incentives and a low level of competition between companies, public agent wages, training and experience have contradictory effects, or no effects at all, on contract performance, particularly for cost indicators. With respect to private capabilities, this study verified that company experience has a positive influence on quality indicators; however, from the public interest point of view, financial capacities – in particular general liquidity – negatively affect cost indicators. These results contribute advances in the discussion about the heterogeneities present in buyer-supplier relations in public contracts and their effects on performance. JEL Classification Codes: H83, P47, R5.
5 citations
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27 Jul 2014TL;DR: In this paper, a case study of Hwang Sun Enterprise in cultural and creative industries, the focal firm initiated and governed a PPP with public sector (Tainan City Government) and academic sector (Kun Shan University Incubation Center), and how the firm shifted from the role of manufacturer to service provider, and how it combined its core technologies from auto-machinery with salt culture from Anping.
Abstract: Public-private partnerships (PPPs) have received considerable attention in the field of public management, business management, and strategy. However, researchers have mostly focused on public policies, public sector reform, and social problems, leaving how PPPs co-create value largely studied. Aiming at theorizing PPPs, this study reviews research on PPPs and value-based strategies including value co-creation and explores how PPPs co-create value. In our case study of Hwang Sun Enterprise in cultural and creative industries, we provide an understanding of how the focal firm initiated and governed a PPP with public sector (Tainan City Government) and academic sector (Kun Shan University Incubation Center), how the firm shifted from the role of manufacturer to service provider, and how the firm combined its core technologies from auto-machinery with salt culture from Anping, and how they co-created value. Based on induced framework, we specify a theoretical framework for value co-creation of PPPs and indicate that heterogeneity and public goods characteristics of PPPs have impacts on value co-creation. Combining co-specialized assets and dynamic capability of focal firm have moderating effects on how PPPs co-create value. Finally, theoretical contributions, implications, and limitations are discussed.
5 citations