Pathways to meet critical success factors for local PPPs: The cases of urban transport infrastructure in Korean cities

Bae, Yooil; Joo, Yu-Min

doi:10.1016/j.cities.2016.01.007

Cited by 25 publications

(16 citation statements)

References 22 publications

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“…the lack of national PPP law), and poor political decision-making. In addition, Bae and Joo (2016) in their study of two cases of urban transportation in the Seoul Metropolitan Area, Korea, found that a lack of financial independence at the local level (that is, higher dependence on the central government) and local politicians' rent-seeking behaviours in pursuit of their short-term political gains have been one of the major CRFs, in addition to an immature regulation. They also argued that local bureaus tended to lack an internal capacity to thoroughly manage the PPP projects, in particular in terms of monitoring, and even many public agencies and officials were not willing to share or open accurate information about the PPP contract (Bae & Joo, 2016, p. 36).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Third, while Western-focused analyses in the existing literature tend to point out risk factors from the private-sector side (mostly concession companies), studies of Asian PPP cases have shown that the risk factors stemming from the public-sector side can also play a critical role in leading to the failure or termination of PPP projects (e.g. Bae & Joo, 2016;Ke et al, 2013). Likewise, this study found that public sector-driven risks-for example, in the case of university accommodation services, where risk-averse public agencies balked at extracting ROI (e.g.…”

Section: Analyses and Findingsmentioning

confidence: 99%

“…Specifically, the potential barriers (risks) to the successful operation of PPPs are often financial corruption, an unstable political environment, unexpected (hidden) costs, fluctuations of demand forecast, an immature regulatory framework, and lack of experience in PPP projects, to name a few (e.g. see Bae & Joo, 2016;Baker, 2016;Burke & Demirag, 2019;Kim & Kwa, 2020;Yang et al, 2013). As these potential obstacles are not easy to control and analyze, without proper ex ante management (including allocation and transfer) of risk factors, government agencies may be faced with high component (extra transaction) costs and time delays in project design or construction/building (Hwang et al, 2013;Jin, 2010).…”

Section: Introductionmentioning

confidence: 99%

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A closer look at risk factors for public-private partnerships in Singapore: six case studies

Kim

Kwa

2020

Asian Journal of Political Science

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Despite its global popularity over the past few decades, the publicprivate partnership (PPP) has not always led to successful outcomes, due largely to a number of risk factors associated with the projects. To explain how and why PPPs sometimes fail, this study considers the success-failure continuum of Singapore's recent PPP experience from 2000 to 2019. After taking a critical, close look at the six failed cases, we identify the following latent risk factors: unstable financial capacity during the execution period of a project, force majeure unforeseen problems that arise, a lack of technical and/or financial foresight, poor corporate management (e.g. delays in construction and poor-quality service delivery), and an unfavourable investment environment stemming from the lack of a clear and supportive governance framework. In addition, we find that most risk factors tend to appear during the contract management (pre-operation) and project management (operation) phases. Such risks seem to drive the operational failure and subsequent contract termination of multiple unsuccessful PPPs, simultaneously (and sometimes sequentially) rather than in isolated fashion. All in all, this study offers for policymakers that better risk allocation and proper, mutual coordination between the public and private partners represent essential factors for PPP success.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Analyses and Findingsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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A closer look at risk factors for public-private partnerships in Singapore: six case studies

Kim

Kwa

2020

Asian Journal of Political Science

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“…Financial resources [119,122,149] The access to financial resources and their structure build the business model together. One of the areas within this field is the careful management of PPPs and financial loans because of political interests; the need for strict regulations and mechanisms to share the risk-a lack of them is a barrier.…”

Section: Sharing Economy Solutions Groupmentioning

confidence: 99%

Assessing Resources Management for Sharing Economy in Urban Logistics

2020

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Sharing economy requires cities to redefine their management strategies. As a consequence of the development of new ideas, the main aim of modern cities should focus on achieving the sustainable use of resources. In the existing literature, only a partial analysis of resources management in cities can be found. For this reason, the authors decided to prepare the framework for empirical research about resources management in sharing economy in cities, especially in the urban logistics system. The main aim of the study is systematizing criteria related to the assessment of the management of urban resources in the era of sharing economy. To achieve the goal of the research, a systematic literature review was made according to chosen approaches and procedures. This resulted in creating a set of criteria for the analysis and evaluation of resources management in urban areas. It contains five areas with 26 criteria and a map of assumed correlations between them. Those outcomes can be used by local authorities or even other urban logistics stakeholders to define or improve their actions aimed at developing a sharing economy services portfolio on the local market. Additionally, they constitute a set of initial information for further scientific research.

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“…Innym sposobem identyfikacji CSF jest wykorzystanie i przedstawienie tak zwanych case studies opartych na historycznych przypadkach jednostek osiągających sukces w swojej dziedzinie (por. Bae, Joo, 2016;CDC, 2008). Wśród innych badań dotyczących identyfikacji kluczowych czynników sukcesu wymienić można również analizę czynnikową (Czopek, 2013;Stankovic, Nikolic, Djordjevic, Cao, 2013 Badanie to było częścią projektu badawczego własnego NN 115 436640 pt.…”

Section: Wstępunclassified

Identification of critical success factors in firms from economic sector real estate activities

Skoczylas

Batóg

et al. 2016

Studia I Prace WNEiZ

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Pathways to meet critical success factors for local PPPs: The cases of urban transport infrastructure in Korean cities

Cited by 25 publications

References 22 publications

A closer look at risk factors for public-private partnerships in Singapore: six case studies

A closer look at risk factors for public-private partnerships in Singapore: six case studies

Assessing Resources Management for Sharing Economy in Urban Logistics

Identification of critical success factors in firms from economic sector real estate activities

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