Spending Scarce Funds More Efficiently—Including the Pattern of Interdependence in Cost-Benefit Analysis

Szimba, Eckhard; Rothengatter, Werner

doi:10.1061/(asce)is.1943-555x.0000102

Cited by 25 publications

(8 citation statements)

References 8 publications

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“…The recent financial crisis has imposed strict constraints on the availability of public funds, such that limited available resources must be spent as efficiently as possible; governments are thereby required to select and prioritise among various infrastructure projects (Szimba and Rothengatter 2012). This research has shown that, by focussing on one listed infrastructure sector, a fund manager can gain complete knowledge of the performance of the sector and still enjoy diversification benefits.…”

Section: Discussionmentioning

confidence: 99%

Portfolio of Infrastructure Investments: Analysis of European Infrastructure

Panayiotou

Medda

2016

J. Infrastruct. Syst.

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Infrastructure is receiving much attention in recent years. Investing in infrastructure is particularly effective and suggested for institutional investors such as pension funds due to the characteristics of infrastructure assets. However, robust analytical and empirical analyses that support these investments are limited due mainly to scant empirical data. In this work by collecting relevant data sets on infrastructures, we address two objectives. First, we examine the significance of listed infrastructure sectors and sub-sectors by assessing the investment characteristics and performance of different infrastructure indexes in Europe. The aim here is to determine how an effective and successful infrastructure portfolio should be constructed. Our second objective is to evaluate the strategy of infrastructure investors, in other words, if the investor should invest in a portfolio containing different infrastructure sectors or whether it is still possible to obtain diversification benefits by investing in only a single infrastructure sector.

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Section: Discussionmentioning

confidence: 99%

Portfolio of Infrastructure Investments: Analysis of European Infrastructure

Panayiotou

Medda

2016

J. Infrastruct. Syst.

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“…In spite of this, the availability of public funds for various infrastructure investments is subject to severe constraint as the conditions made stipulate that the available scarce funds must be spent in an efficient and effective manner. Evaluation methods to select and prioritise these infrastructure projects will more often than not presuppose that infrastructure projects are independent of one another (Szimba & Rothengatter, 2012). These conditions have thus prompted the development towards Research Infrastructures (Muldur et al, 2006).…”

Section: The Need For Scientific Co-fundingmentioning

confidence: 99%

The 4 I’s of Entrepreneurship: A Study of the Entrepreneurial Perspectives behind A Failed Large-Scale Distributed Research Infrastructure

Larsson

2018

Entrepreneurship Research Journal

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This case study investigates whether collective entrepreneurial team cognition remains consistent throughout all stage processes when setting up a large-scale, distributed research infrastructure. A new “action phase model” has been devised, known as the “4 I’s of entrepreneurship”, with each “I” elucidating the entrepreneurial rationale behind various stages of the creation process: Intention, Initiation, Implementation and Introspection. The case investigated was BBMRI.se (BioBanking and Molecular Resource Infrastructure in Sweden) – a Swedish large-scale distributed research infrastructure aimed at harmonizing biobanking standards. Managers and key personnel involved in founding and/or operating the organization were interviewed. The results showed there was agreement regarding the need for the research infrastructure, while there were disagreeing perceptions of what the organization should be doing and regarding the difficulties it had faced. These developments would ultimately lead to BBMRI.se’s demise. The homogenous mindset would begin to dissipate once the Initiation stage was reached and worsened throughout the Implementation stage. The results indicate that BBMRI.se’s managerial structure, personal ambitions and lack of transparency and communication were key contributors to its ultimate failure. The implications highlight the risk of fragmented motivations as collective entrepreneurs turn their ambition into reality, if given too much autonomy.

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“…If interdependent infrastructure investments are assessed independently of each other, the appraisal results are biased (see Szimba, 2008;Szimba & Rothengatter, 2012). Therefore, it is suggested to assess infrastructure projects under consideration of interdependent projects as foreseen by the updated methodology for project appraisal in Germany (BMVI, 2014).…”

Section: General Considerationsmentioning

confidence: 99%