0000000000611053
AUTHOR
Espen Solheim-kile
Public-Private Partnership: Transaction Costs of Tendering
Abstract What are the transaction costs of participating in a public-private partnership (PPP) tender? Prior research indicate that there is a significant amount of resources required. However, few researchers seem to measure transaction costs directly. The purpose of this paper is therefore to fill this knowledge gap by presenting estimated transaction costs from both public and private actors. The underlying approach for this research was a case study of a new primary school in Norway. This case was chosen because of the expedient access to detailed information of the tendering process. The main source of data was documents and estimated figures obtained from public and private actors inv…
Extending the Transactional View on Public–Private Partnership Projects: Role of Relational and Motivational Aspects in Goal Alignment
AbstractIn public–private partnerships (PPPs), aligning the goals of the public sector with those of the private contractor is usually achieved using incentives informed by agency theory. However, ...
Public-Private Partnerships: Agency Costs in the Privatization of Social Infrastructure Financing
Public-private partnerships (PPPs) have been subjected to considerable public debate. In particular, this debate has concerned PPP financing and its implications. Using insights from agency theory, this study aims to develop a theoretical understanding of PPP financing. The following research question is investigated: How does the privatization of financing decrease or increase agency costs in social infrastructure PPPs? A comparative case study consisting of four Norwegian PPP projects with different financial configurations is undertaken. The findings suggest that the private sector is risk averse, increasing the cost of capital. In addition, private financing does not seem to have the i…