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.     

IS A SOCIAL EMPOWERMENT OF PPP FOR INFRASTRUCTURE DELIVERY POSSIBLE? LESSONS FROM SOCIAL IMPACT BONDS

Social Impact Bonds (SIBs) have emerged in recent years as outcome‐based public‐private partnerships (PPP) for the delivery of welfare services, where the payment to the private operator is linked to the achievement of superior social impact. Since the traditional infrastructure‐based PPP approach seems to have failed to achieve higher level of efficiency and, above all, effectiveness, this paper discusses the extent to which the SIB model can represent a reference point to innovate the PPP model by introducing more focus on outcome achievement and social value generation.     

Re‐vitalizing money demand in the Euro area. Still valid at the zero‐lower bound

The analysis of monetary developments has always been a cornerstone of the ECB's monetary analysis and, thus, of its overall monetary policy strategy. In this respect, money demand models provide a framework for explaining monetary developments and assessing price stability over the medium term. It is a well‐documented fact in the literature that, when interest rates are at the zero‐lower bound, the analysis of money stocks become even more important for monetary policy. Therefore, this paper re‐investigates the stability properties of M3 demand in the euro area in the light of the recent economic crisis. A cointegration analysis is performed over the sample period 1983 Q1 and 2015 Q1 and leads to a well‐identified model comprising real money balances, income, the long‐term interest rate and the own rate of M3 holdings. The specification appears to be robust against the Lucas critique of a policy dependent parameter regime, in the sense that no signs of breaks can be found when interest rates reach the zero‐lower bound. Furthermore, deviations of M3 from its equilibrium level do not point to substantial inflation pressure at the end of the sample. Excess liquidity models turn out to outperform the autoregressive benchmark, as they deliver more accurate CPI inflation forecasts, especially at the longer horizons. The inclusion of unconventional monetary policy measures does not contradict these findings.     

Money,Asset Prices,and the Liquidity Premium

This paper examines the effect of monetary policy on the market value of the liquidity services that financial assets provide, known as the liquidity premium. The theory predicts that money supply and nominal interest rates have positive effects on the liquidity premium, but asset supply has a negative effect. The empirical analysis with U.S. data confirms the theoretical predictions. The theory also proposes that the liquidity properties of assets can cause negative nominal yields when the money holding cost is low and liquid assets are scarce. The suggestive empirical findings in Switzerland to support this theoretical result are presented.     

风险预警模型在房地产企业资金管理中的应用探讨

房地产企业资金管理普遍存在负债比例高、资金沉淀严重、投资行为盲目、融资形式单一、资金管理不善等问题。风险预警模型有预知风险、控制风险、防范风险等功能,运用风险预警系统对房地产行业进行监测、预测并判断其景气状态十分必要。选择了灰色风险预警模型和营运资金周转率作为房地产企业资金管理预警模型的核心指标,设计了房地产资金管理风险预警模型的具体算法和资金管理风险预警模型在房地产企业的具体应用。     

企业集团货币资金最佳持有量的确定及其量化管理策略探析

货币资金在集团企业的实物资产中占据非常重要地位。加强货币资金管理对保障企业集团的正常经济运作和提高经济效益意义重大。要确定企业集团货币资金的最佳持有量,并在其基础上量化货币资金的管理,才能使企业集团货币资金控制真正落到实处。     

以人为本的企业员工忠诚孕育、发展的内部管理机制

影响员工忠诚的因素有社会因素、员工自身、企业组织,前两类因素对员工忠诚的影响是直接的,而企业组织对员工忠诚的影响往往通过员工的工作满意感以及组织公平感等心理感受类中介变量产生作用。因此,以信任为基石,以人为中心的网络忠诚管理模型是培育、发展员工忠诚的企业有效的内部管理机制。     

天津市大学生体育锻炼态度与体育锻炼行为的研究

文章对天津市六所大学中一年级和四年级的男、女大学生的体育锻炼态度和影响参加体育锻炼的因素进行研究和分析,旨在对体育锻炼态度和体育锻炼行为进行研究。     

对首届"河南文化遗产日"的调查和思考

2005年11月26日、27日河南省在我国率先设立了"文化遗产日",这是对我国文化遗产保护的一种新尝试.那么,文化遗产日的设立能否得到认可,它有什么样的效应?又存在什么样的问题?弄清这些对我国文化遗产的保护和发展有着重要的意义.通过调查研究发现,游客、媒体和网友对文化遗产日的设立大都持肯定的态度,认为文化遗产日具有众多的积极效应,但游客对文化遗产日的感受不是很好,文化遗产日暴露的问题,将影响着人们进一步参加文化遗产日的可能性.最后,文章对首届河南文化遗产日进行了评价,对相关问题进行了初步的探讨.     

The managerial implications of an analysis of tourist profiles and international hotel employee service attitude

Numerous studies indicate that customer satisfaction is closely related to hotel employees’ service attitude, and that distinct segments of a target tourist market require distinct customer service emphases. The enclosed study finds, for example, that Taiwanese tourists generally appreciate friendliness and enthusiasm, Japanese tourists admire courteousness and propriety, and American tourists value immediacy and efficiency. Marketers and personnel managers are therefore well advised to develop training strategies emphasizing empathy, gracious problem solving, and prompt individual attention for Taiwanese, Japanese, and American tourists, respectively. Importance–performance analysis (IPA) can be used to identify crucial aspects of appropriate service and recommend managerial strategies to support their implementation.