Institutional quality,investment efficiency,and the choice of public–private partnerships

We examine a sample of 625 public–private partnership (PPP) firms from 1980 to 2015 that straddle nine countries with varying degrees of economic development and PPP markets. We find that the motivations of the firms that undertake PPP investments vary. While private sector firms in economies with low institutional quality choose to engage in PPPs to alleviate capital constraints attributed to underinvestment, those in economies with high institutional quality participate in PPPs to solve the problem of overinvestment due to an abundant cash flow. In the long run, the benefits of lower capital constraints through PPP investments are more pronounced in economies with high institutional quality.     

Emotional framing of NGO press releases: Reformative versus radical NGOs

Drawing on the literature on framing, we explore the emotional framing differences in radical and reformative NGOs over time. We analyse the sentiment of a sample of 5880 press releases issued by five NGOs positioned differently on the reformative-radical spectrum and examine how they address large companies. Our findings reveal an increasing polarisation of sentiment in these NGOs' framing, with individual NGOs gravitating towards ideal-type radical or reformative positions, respectively. In alignment with the differences in their framing, we observe differences in their approaches to cross-sector partnerships. Policymakers need to note the implications of the observed polarisation for the effectiveness and credibility of cross-sector partnerships and multi-stakeholder initiatives more generally, given the risk of co-optation (for reformative NGOs) as well as the risk of foregoing significant funding and governance opportunities (for radical NGOs).     

Public–private partnerships in Social Impact Bonds: facilitating competition or hindering transparency?

ABSTRACT

The use of Social Impact Bonds (SIBs), which introduces the potential for investor profit in public service provision, has been widely discussed. Some argue that SIBs might promote government transparency because outcome data collection and evaluation are part of contractual terms. On the other hand, some argue that SIBs might hinder government transparency because more contractual parties might lead to more uncertain data ownership and because the profit motive transforms information into a competitive advantage. This paper looks at SIBs in five countries, examining how transparency differed between SIB and non-SIB financed programmes at the same social service provider. On the positive side, SIBs led to more and longer collection of outcome data and the publication of evaluations. On the negative side, it was found that SIBs tend to generate significant obstacles to the release of data to academic researchers and that sponsored evaluations do not measure impacts.     

A study on the deployment of high-speed broadband networks in NUTS3 regions within the framework of digital agenda for Europe

This paper investigates the high-speed broadband situation in the EU and its prospects. It uses a deployment model to estimate the investment required to meet the Digital Agenda for Europe (DAE) broadband targets set by the European Commission in its Europe 2020 strategy at different stages: as of 2016, after expected operators’ deployment, after public subsidies and leveraged investment, and as expected in 2020. The model uses data at the NUTS3 level, which is the most granular level that has data available on the status of broadband deployment, to arrive at a coherent and comparable framework. From the different perspectives on the investment to meet DAE targets, the paper concludes on the need for an appropriate combination of incumbent and alternative operators investments, public subsidies and leveraged investments, and new investments, both public and private and non-existing as of 2016, examining their feasibility and the impact of different regulatory, technical, and policy strategies.     

Collaboration risk management in IT-enabled asymmetric partnerships: Evidence from telestroke networks

Information technology (IT)-enabled partnerships can unlock previously unattainable value propositions between organizations that have resource, capability, and other asymmetries by allowing larger organizations access to niche and local resources while providing smaller organizations access to enhanced resources and capabilities. However, recent studies have shown that many IT-enabled asymmetric partnerships often fail because the organizations do not effectively manage the involved collaboration risks. Most organizations focus on the strategic aspect of whether partners behave cooperatively or competitively, while paying scant attention to the operational aspect of bringing together partner contributions through coordination. To examine this problem, we report on a case study of two hub-spoke networks that used telemedicine to facilitate expertise sharing and decision making about stroke treatment at emergency departments in rural hospitals (spokes) based on information exchanges with remote neurologists at academic medical centers (hubs). As a result, we contribute to the inter-organizational information systems literature by explaining how organizations in IT-enabled asymmetric partnerships manage collaboration risks. We demonstrate how partners in such relationships perceive and approach strategic cooperation and operational coordination risks differently. We also explain how collaboration interactions change over time as the partners manage risks based on needs and resource endowments. Drawing on these findings, we provide guidance to organizations on how to manage sustainable IT-enabled asymmetric partnerships in general, and telestroke networks in particular.     

Supplier selection and partnerships: Effects upon restaurant operational and strategic benefits and performance

This study focused on identifying strategic criteria involved in selecting suppliers of restaurant products/services specific to casual dining, full service independent restaurants to obtain operational and strategic benefits for those managers operating in this highly competitive marketplace. A total of 765 responses were obtained from managers at independently owned restaurants throughout the U.S. Results revealed that ‘product’ and ‘financial/technical’ criteria had significant and positive effects upon operational benefits, while ‘product’ and ‘service’ had positive effects upon strategic benefits. When the sample was segmented into low and high supplier partnership groups, the positive effects of ‘financial/technical’ and ‘cost/price’ were significantly greater for the ‘high’ partnership group pertaining to operational benefits. ‘Product’ and ‘service’ and their effects upon strategic benefits were greatest for the high partnership group. Based on our findings, implications, limitations, and recommendations for future studies have been provided.     

Does risk sharing increase with risk aversion and risk when commitment is limited?

I consider a risk-sharing game with limited commitment, and study how the discount factor above which perfect risk sharing is self-enforcing in the long run depends on agents׳ risk aversion and the riskiness of their endowment. When agents face no aggregate risk, a mean-preserving spread may destroy the sustainability of perfect risk sharing if each agent׳s endowment may take more than three values. With aggregate risk the same can happen with only two possible endowment realizations. With respect to risk aversion the intuitive comparative statics result holds without aggregate risk, but it holds only under strong assumptions in the presence of aggregate risk. In simple settings with two endowment values I also show that the threshold discount factor co-moves with popular measures of risk sharing.     

Are traditional industrial partnerships so strategic for research spin-off development? Some evidence from the Italian case

This paper aims to contribute to the literature on research spin-offs (SOs) and strategic alliances. The research SO phenomenon has attracted significant attention in recent years. Yet, research SOs might present a particular situation regarding their economic development. Therefore, the paper focuses on the relevance of traditional industrial partnerships and introduces a new and complementary approach for studying and analysing the role of alliances for this particular kind of firm. The results of a questionnaire investigation of Italian research SOs with and without a traditional industrial partner are investigated and supported by a linear regression model. Due to recent initiatives – a growing interest in the research SO phenomenon – and the increasing number of established research SOs, Italy is a suitable case study for such an investigation. Nonetheless, the results are generalizable beyond the Italian case. The findings demonstrate thought-provoking – and somehow unexpected – results regarding the role of traditional alliances in shaping the geographical and industrial environment as well as the performance, added value, age and production process of the company. This calls for a broader perspective regarding industrial partnerships and research SOs: it reflects new modes of relations for these particular firms in the form of business ecosystems, either they are physical or they are digital.     

Research engagement,impact and sustainable tourism

In this editorial, we reflect on how the Journal of Sustainable Tourism can contribute towards sustainable tourism researchers achieving more impact with their research. We propose some changes that can be tested in, and introduced gradually and collaboratively with, the community of the editorial board and authors. To support impactful mind sets, we will promote research that reflects diverse academic communities. To promote impactful research topics, we will encourage authors to frame their submitted articles against the Sustainable Development Goals, while research that is time sensitive will be fast tracked so it can contribute to current debates. To promote impactful methodologies, we shall favour articles that use mixed methods and action research, and those that conduct longitudinal, experimental, and evaluative research. To promote impactful partnerships, we will favour multidisciplinary approaches and research that has been co-created with stakeholders. To promote impactful communication and dissemination, we will continue to build an online community on social media for sustainable tourism researchers, we will promote articles in social media to raise their visibility, and we will provide free access to those articles that are deemed to have the greatest potential to impact positively on society.     

COMPARING PPP WITH TRADITIONAL PROCUREMENT: THE CASE OF SCHOOLS PROCUREMENT IN IRELAND

Advocates of public‐private partnerships (PPPs) argue that they can deliver public infrastructure more efficiently than traditional procurement through timelier completion and superior value for money. Despite these claims comparative analysis of the performance of both procurement methods has received scant attention in the PPP literature to date. This paper addresses this issue by providing an in‐depth, case‐based comparison of PPP versus traditional procurement in the schools sector in Ireland. Through detailed semi‐structured interviews with key stakeholders and an examination of the available documentation, we assess whether the key objectives of using PPP have been achieved. Overall, we find no evidence that PPP leads to faster delivery of infrastructure when the overall procurement process from contract notice to delivery is accounted for. In addition, we find only limited evidence to suggest that PPP results in better value for money.