The Private Finance Initiative

Wall, Anthony; Connolly, Ciarán

doi:10.1080/14719030902798172

Cited by 39 publications

(27 citation statements)

References 46 publications

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“…These findings may be controversial because these two indicators can be classified as more directly related to the risk shared between PPP parties, the assumption of the risk by operators, or the risk returning to the grantor. Previous studies (e.g., Burke and Demirag, 2013;Khadaroo, 2011a, 2011b;Hart, 2003;Wall and Connolly, 2009) discussed these topics, providing quality examples of the analysis and problems that can be addressed. This study, based on financial data rather than interviews, shows that, at least in Portugal, costs of financing and profitability do not differ between companies with and without PPP/SCAs 5 .…”

Section: Findings and Discussionmentioning

confidence: 99%

“…In fact, if a company is engaged in a PPP/SCA, it is expected that the firm is assuming the risks that were transferred to that company by the State, including the financial risk. There has been much prior research on this risk topic, involving interviews with stakeholders that directly manage or finance PPPs; the conclusion is that this can be a controversial topic that changes over time (Burke and Demirag, 2013;Khadaroo, 2011a,2011b;Wall and Connolly, 2009) and, for instance, the country risk is not found to have any significant role in determining PPPs (Sharma, 2012).…”

Section: (D) Financing Costs (Risk)mentioning

confidence: 99%

“…Several authors (e.g., Wall & Connolly, 2009;Sarmento, 2010;Demirag and Khadaroo, 2011a) argue that, over the last few decades, PPPs have been increasingly used by governments around the world to finance and manage complex operations. However, several questions have been raised regarding their efficiency.…”

Section: General Ppp/sca Frameworkmentioning

confidence: 99%

“…This is because these types of companies are usually associated with a strong financial structure to provide the specific services. The basic financial structure of a PPP/CSA, as for a PFI, could be ninety per cent debt and ten per cent equity, with the debt element consisting mainly of bank loans or bonds (Wall and Connolly, 2009). Demirag et al (2012) were one of the first doing preliminary research regarding this topic, interviewing personnel from five organisations involved in the provision of equity and debt finance for PFI projects.…”

Section: (B) Leveragementioning

confidence: 99%

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Firm-level conditions to engage in public-private partnerships: What can we learn?

Lopes

Caetano

2015

Journal of Economics and Business

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Section: Findings and Discussionmentioning

confidence: 99%

Section: (D) Financing Costs (Risk)mentioning

confidence: 99%

Section: General Ppp/sca Frameworkmentioning

confidence: 99%

Section: (B) Leveragementioning

confidence: 99%

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Firm-level conditions to engage in public-private partnerships: What can we learn?

Lopes

Caetano

2015

Journal of Economics and Business

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“…As explained by Kee & Forrer (2008), PPP involves the introduction of the managerial skills, entrepreneurship, and expertise of the private sector towards increasing the efficiency of the public sector. The adoption of Private Finance Initiative (PFI) in the UK aims to introduce market discipline into the provision of public services (Hammami et al 2006;Wall & Connolly 2009). Fourth, it involves sharing of risk between partners (Grimsey Darrin and Lewis Mervyn K. 2004;Idris et al 2013).…”

Section: The Concept Of Pppmentioning

confidence: 99%

An Overview of Critical Success Factors of Public Private Partnership in the Delivery of Urban Infrastructure and Services

Muhammad

Sik

Johar

et al. 2016

PMJ

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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.

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One for the money, two for the show: What are the actor‐based incentives for public‐private partnerships for innovation?

Ilgenstein

2021

European Policy Analysis

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This paper aims to identify the processes that lead to the establishment of public-private partnerships (PPPs) with a focus on the financial and policy incentives of the actors involved. To this end, it applies the Multiple Streams Framework to a qualitative case study to answer the following research question: are actors of PPPs for innovation motivated due to financial incentives or can they be policy driven? Although the fiscal context plays an important role in our case, the study shows that policy goals, such as providing infrastructure or public services and promoting innovation can be the main drivers for establishing a PPP.These findings offer a theoretical and practical contribution to analyze PPPs as a phenomenon. First, we establish a theoretical framework of possible incentives for actors in PPPs and, secondly, provide new insights into the PPP discussion in the public administration literature. K E Y W O R D Sinnovation, public-private partnership | INTRODUCTIONThis paper aims to identify the processes that lead to the establishment of public-private partnerships (PPP) with a focus on the preferences of the involved actors. More specifically, we analyze financial

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The Private Finance Initiative

Cited by 39 publications

References 46 publications

Firm-level conditions to engage in public-private partnerships: What can we learn?

Firm-level conditions to engage in public-private partnerships: What can we learn?

An Overview of Critical Success Factors of Public Private Partnership in the Delivery of Urban Infrastructure and Services

One for the money, two for the show: What are the actor‐based incentives for public‐private partnerships for innovation?

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