Abstract
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Augustine Senanu Komla Kukah, De-Graft Owusu-Manu, Edward Badu, David John Edwards and Eric Asamoah
The purpose of this paper was to first identify and then model the impact of critical success factors (CSFs) of public–private partnership (PPP) power projects.
Abstract
Purpose
The purpose of this paper was to first identify and then model the impact of critical success factors (CSFs) of public–private partnership (PPP) power projects.
Design/methodology/approach
Review of empirical literature came out with 20 CSFs which were ranked by experts and industry practitioners through a two-round Delphi questionnaire survey.
Findings
These CSFs were grouped into CSF groups (CSFGs) using component analysis, and they served as the input variables for fuzzy analysis. The six components were collaboration and transparency, guarantee and permits, socio-political support, expected profitability, technical feasibility and risk allocation (RA). Overall success index of PPP power projects in Ghana was 5.966 and showed there is high impact of CSFGs on project success. Fuzzy analysis also confirmed RA as the most significant CSFG.
Originality/value
The model developed can serve as a multi-dimension CSF framework that can be used as a success attainment tool for PPP power projects. For policy developers and stakeholders, the model serves as a pointer to issues which the government/public sector must focus on to attract huge investments from the private sector in the power sector.
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Augustine Senanu Komla Kukah, De-Graft Owusu-Manu, Edward Badu, David J. Edwards and Eric Asamoah
Public-private partnership (PPP) power projects are associated with varying risk factors. This paper aims to develop a fuzzy quantitative risk allocation model (QRAM) to guide…
Abstract
Purpose
Public-private partnership (PPP) power projects are associated with varying risk factors. This paper aims to develop a fuzzy quantitative risk allocation model (QRAM) to guide decision-making on risk allocation in PPP power projects in Ghana.
Design/methodology/approach
A total of 67 risk factors and 9 risk allocation criteria were established from literature and ranked in a two-round Delphi survey using questionnaires. The fuzzy synthetic evaluation method was used in developing the risk allocation model.
Findings
The model’s output variable is the risk allocation proportions between the public body and private body based on their capability to manage the risk factors. Out of the 37 critical risk factors, the public sector was allocated 12 risk factors with proportions = 50%, while the private sector was allocated 25 risk factors with proportions = 50%.
Originality/value
To the best of the authors’ knowledge, this research presents the first attempt in Ghana at endeavouring to develop a QRAM for PPP power projects. There is confidence in the model to efficiently allocate risks emanating from PPP power projects.
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Augustine Senanu Komla Kukah, De-Graft Owusu-Manu, Edward Badu and David John Edwards
This study aims to identify the critical success factors of public private partnership (PPP) power projects in Ghana and further evaluates the most significant critical success…
Abstract
Purpose
This study aims to identify the critical success factors of public private partnership (PPP) power projects in Ghana and further evaluates the most significant critical success factors (CSFs) influencing both the public and private sector participation in PPP power projects.
Design/methodology/approach
Ranking-type Delphi survey in two rounds was conducted to establish a comprehensive list of critical success factors of PPP power projects. Using purposive and snowball sampling techniques, experts were targeted for the Delphi survey. Mean score ranking, Cronbach’s alpha coefficient and Kendall’s concordance were used for analysis.
Findings
From the list of 37 critical success factors, 9 CSFs were deemed to be extremely significant. The five topmost CSFs were as follows: shared authority, trust and communication between public and private sectors; necessity of power project; debt guarantee to enable private partner to raise funds from the local or international financial markets; appropriate risk allocation and risk sharing; and thorough and realistic assessment of cost, projections and benefits.
Originality/value
The CSFs identified and prioritized in this study have the propensity to trigger policy development towards the PPP power sector in Ghana and developing countries that shares similar context. This is because the study has wide implications for financing, politics, procurement, regulations, legal and capacity building.
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Khalid Almarri and Halim Boussabaine
The level at which risk is priced and the magnitude of risks transferred to the private sector will have a significant impact on the cost of the public–private partnership (PPP…
Abstract
Purpose
The level at which risk is priced and the magnitude of risks transferred to the private sector will have a significant impact on the cost of the public–private partnership (PPP) deals as well as on the value for money analysis and on the section of the optimum investment options. The price of risk associated with PPP schemes is complex, dynamic and continuous throughout the concession agreement. Risk allocation needs to be re-evaluated to ensure the optimum outcome of the PPP contract.
Design/methodology/approach
This paper provides a coherent theoretical framework for dealing with scenarios of potential gain and loss from retaining or transferring risks.
Findings
The outcome indicates that using the proposed framework will provide innovative ways of deriving risk prices in PPP projects using several risk determinants strategies.
Practical implications
In costing risks, analysts have to take into consideration the balance between the cost of risk transfer and the cost of losses if risk is retained.
Originality/value
This paper contributes to the PPP literature and practice by proposing a framework which is consistent with a risk allocation approach in PPP projects, where the key proposition is that risk pricing can overload project debt leading to loss of value.
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Rosa Caiazza and Tiziana Volpe
The purpose of this paper is to present new insights on cross-border merger and acquisition (M&A) process based on received wisdom in the literature and exploratory field…
Abstract
Purpose
The purpose of this paper is to present new insights on cross-border merger and acquisition (M&A) process based on received wisdom in the literature and exploratory field interviews of several leading firms that have conducted cross-border M&As. Starting from existing literature the authors explore current trend in cross-border M&A process with the aim to pose several points for future studies.
Design/methodology/approach
Based on previous studies (Brocke and Sinnl, 2011; Gogan et al., 2013; Soni and Kodali, 2011) the authors conduct a structured literature review aimed to divide M&A process in three phases evidencing for each of them the specific aspects and future development of researches.
Findings
The paper evidences new strategic motivations, implementation and post-merger integration challenges, especially focussing on cultural issues. Finally the authors emphasize the need for novel indicators of acquisition success such as new and distinct capability development post acquisition.
Originality/value
New trend in cross-border M&As impose to rethink the challenges and opportunities posed by cross-border M&As in a tumultuous global business environment, from strategic, cultural, organizational and financial perspectives.
– The purpose of this paper is to explore current trends in multi-polar world with the aim of assessing new drivers and challenges in cross-border M & A.
Abstract
Purpose
The purpose of this paper is to explore current trends in multi-polar world with the aim of assessing new drivers and challenges in cross-border M & A.
Design/methodology/approach
A case study analysis of cross-border M & A is described and discussed.
Findings
The paper indicates strategic motivations and implementation challenges of cross-border M & A under current pressures of a world characterized by multiple centers of economic power.
Originality/value
This paper evidence new direction in cross-border M & A research for reinterpreting existing paradigms and developing new ones.
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Augustine Senanu Komla Kukah, De-Graft Owusu-Manu, Edward Badu and David John Edwards
This paper aims to evaluate the risk factors and determines the overall risk level (ORL) of public-private-partnership (PPP) power projects in Ghana using fuzzy synthetic…
Abstract
Purpose
This paper aims to evaluate the risk factors and determines the overall risk level (ORL) of public-private-partnership (PPP) power projects in Ghana using fuzzy synthetic evaluation methodology (FSEM).
Design/methodology/approach
In this paper review of literature led to the development of a 67-factor risk list which was ranked by experts and industry practitioners through a questionnaire survey.
Findings
These factors were grouped into principal risk factors (PRFs) using component analysis and they served as the input variables for fuzzy analysis. The seven components were: Contract and Payment risks, Environmental risks, Financial and Cost risks, Legal and Guarantee risks, Operation risks, Socio-Political and Performance risks (SPR) and Tender and Negotiation risks. Study showed that the ORL of Ghanaian PPP power projects is high implying they are risky to both the public and private sectors. Fuzzy analysis also confirmed SPR as the most critical principal factor.
Originality/value
This study is significant and demonstrates that fuzzy methodology can be used as a useful risk evaluation tool and risk assessment framework for private investors, policy makers and public sector.
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Carter B. Casady and David Baxter
The novel coronavirus (COVID-19) pandemic has left nations around the world scrambling to procure emergency healthcare capacity, services and equipment. To meet this unprecedented…
Abstract
Purpose
The novel coronavirus (COVID-19) pandemic has left nations around the world scrambling to procure emergency healthcare capacity, services and equipment. To meet this unprecedented demand on global healthcare systems, governments are increasingly looking to partner with the private sector via public-private partnerships (PPPs). However, the protracted procedures of traditional PPP procurements are not suitable for times of crisis. This is where unsolicited proposals (USPs) may play a pivotal role.
Design/methodology/approach
To explore the relevance of USPs for the current pandemic, this Viewpoint paper describes both the advantages and challenges of USPs, discusses the emergence of several PPPs to combat COVID-19 as well as some of the ad hoc processes governing current USP consideration, highlights an example of streamlined USP solicitation from Pennsylvania’s Department of Transportation and articulates a pragmatic and practical approach for encouraging and procuring healthcare USPs.
Findings
This Viewpoint paper concludes that USPs could play a crucial role in the COVID-19 pandemic as boundary spanners between public agencies and the private sector in the PPP procurement process.
Social implications
Deploying proactive and strategic healthcare PPPs at speed and scale through digital USP platforms may help mitigate the pandemic’s long-term effects. Digital USP platforms may also serve as crucial tools for effective crisis communication, decision-making and partnership.
Originality/value
Using the digital USP platforms proposed in this paper, infrastructure organizations can develop and maintain effective partnerships with other sector organizations prior to and during crises like COVID-19.
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To introduce the 2007 annual special issue on knowledge‐based development (KBD), from the perspective of the institutionalization of KBD as a field of study and practice, followed…
Abstract
Purpose
To introduce the 2007 annual special issue on knowledge‐based development (KBD), from the perspective of the institutionalization of KBD as a field of study and practice, followed by an outline of the contents.
Design/methodology/approach
The approach is a discussion of the issues involved.
Findings
The consolidation of KBD and knowledge cities as a distinctive field of R&D, as well as professional practice, becomes apparent when considering structural elements such as affluents, issues, cases, sources, events, organizations and initiatives. This consolidation seems to underlie the progression of contributions through this special issue and prior ones on the same subject.
Originality/value
This special issue may contribute to raise new questions and stimulate further research into knowledge cities, regions and countries.