Public Money and Mickey Mouse: Evaluating performance and accountability in the Hong Kong Disneyland joint venture public–private partnership

Abstract

Joint venture public–private partnerships (PPPs) allow partners to share in the risks and rewards of joint production. But the literature offers little theoretical guidance on assessing performance and accountability in this type of PPP. This article fills this gap by examining joint ventures as PPPs and formulates a comprehensive performance evaluation framework. Its application to the case of Hong Kong’s Disneyland Resort reveals a project that has endured several challenges related to achieving objectives, ensuring cooperation among partners, and upholding principles of democratic accountability. Outcomes from this study offer new insight into an underexplored aspect of PPP research.     

Residual demand analysis of the carbonated soft drink industry

In this paper, residual demand analysis is applied to test whether carbonated soft drinks is a relevant product market. The residual demand elasticity for carbonated soft drinks is estimated using weekly A.C. Nielsen Scanner price and quantity data for carbonated soft drink products purchased in supermarkets in the United States. The estimated residual demand elasticity and average contribution margin for carbonated soft drinks suggest that a market for carbonated soft drinks is too narrow for purposes of merger analysis according to the Merger Guidelines established by the United States Department of Justice and the Federal Trade Commission.Two of the authors, Kaplan and Tollison, have served as consultants to and received research support from PepsiCo, Inc. The present project, though an aoutgrowth of this earlier work, received no support from PepsiCo, Inc. or any other source. The views expressed in the article are soley those of the authors, and the authors are responsible for any errors or omissions.     

A review of ethical considerations in benefits planning

The rising cost of employee benefits and ongoing pressure to improve existing benefits is forcing employers to make difficult decisions. Most employers are truly concerned about the welfare of their employees and attempt to make these decisions in an ethical manner. This article offers practical advice on maintaining an ethical perspective, which the authors contend is necessary to maintain when facing these challenging responsibilities. The article identifies the various stakeholders as well as the necessary steps to consider when attempting to make an ethically sound decision involving employee benefits.     

The intra‐alliance division of value created through collaboration

The differential benefits reaped by individual partners are a major determinant of the impact of strategic alliances on firm performance and an important (dis)incentive for alliance partners to collaborate in value creation. Theoretically, we lack an explicit theory of intra‐alliance value division; empirically, previous analysis has been hampered by methodological challenges. We propose a bargaining framework for intra‐alliance value appropriation, as well as a measure for capturing its variation. We test our hypotheses on a sample of 200 biotechnology R&D alliances, and are able to explain variation in value appropriation across alliance partners, partner types, and individual firms of each type. Copyright © 2010 John Wiley & Sons, Ltd.     

Sustainable management of extensively managed savanna rangelands

Classic rangeland theory advocates stocking rangelands at relatively low and constant levels. This theory has been labelled inappropriate for savanna rangelands, because savannas are strongly influenced by stochastic processes. Opportunistic strategies that force animal numbers to track available forage have been proposed as an alternative management paradigm. However, no studies have examined whether these opportunistic strategies are sustainable or optimal. We developed a simulation model of a savanna rangeland to identify optimal, sustainable strategies for the management of extensive rangelands. We optimised the utility of agents who are motivated by economic, production or ecological factors under both deterministic and stochastic conditions. In all cases we found that it was optimal to manage the system conservatively and not opportunistically. Moreover, it was optimal to manage more conservatively under stochastic conditions. Key elements of the conservative strategy were to stock at low levels and to use fire to control tree abundance and thereby maintain the system in a grass dominated state. We conclude that opportunistic strategies of range management although intuitively appealing are not optimal.