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This research aims to investigate the influence of the implementation of technical cycles on both captured value and shared value in the circular economy context. Moreover, it analyses the moderating effect of competitive criteria on the relationship between technical cycles and captured value. Finally, it examines the relationship between the captured value and the shared value.

This research follows survey-based research with data gathered from 50 countries and 16 sectors, whose final sample represented 233 organisations. In order to validate the structural and measurement model, the authors applied the partial least squares structural equation modelling technique in the strict rigour of the confirmatory algorithm.

The validated research model demonstrates the value flow through technical cycles. Moreover, it shows the crucial role of the competitive criteria in the value stream through direct, moderate and indirect effects by influencing the relationship between technical cycles and captured and shared values. Finally, the study fills the gap for quantitative studies in the circular economy field.

From a practical perspective, this study contributes to structuring circular business models more robustly, by understanding the influence of competitive criteria (cost, quality, flexibility and delivery) on the conversion of operation strategy in the implementation of the technical cycles in the circular economy context. It contributes to decision-makers, in deciding on which competitive criteria to invest more, which brings more consistent results for technical cycle implementation. It also confirms the importance of partnerships, demonstrating how value cascades from the company through the value network.

As far as is known to date, this is the first study investigating the influence of competitive criteria in the circular economy context. Furthermore, it sheds light on the direct and indirect effects of the technical cycles on value captured by organisations and flow shared value with other players.

This study aims to investigate how the dynamics of compliance, internal controls and ethics can generate tensions in the domain of project governance. Moreover, it investigates the tensions between these constructs and the search for project success from a practice-based perspective.

A methodological approach is taken, with a case-based research carried out in a large European multinational company. Data were gathered through 21 interviews, between project managers and other key stakeholders, and documentary data from 64 projects for triangulation and critical analysis.

As a result, four patterns of tensions were identified: Tension A between compliance and project success, Tension B between internal controls and project success, Tension C between compliance and internal controls and Tension D between compliance and ethics.

Some limitations should be acknowledged. The first, ontological, is inherent in the post-positivist perspective, accepting human subjectivity and the complexity of social reality intrinsic to research applied to the social sciences, respectively implying interpretive bias and incompleteness in the comprehension of the facts. The second limitation comes from the use of a single case study, in which singular contextual characteristics make it difficult to generalise the results.

This study has implications for practice, as it highlights weaknesses that may occur in organisations owing to tensions between the elements of compliance, internal controls and ethics. This, therefore, implies ways of strengthening the consistency of project governance. The project governance domain and its tensions affect the project-success holistic view in both efficiency and effectiveness, since the elements of internal control and compliance can create tensions that favour one project success perspective to detriment of the others. Understanding the nature of tensions, their implications and the long-term holistic perspective can lead to better decisions by managers.

The results suggest that a formal code of ethics, a project management methodology, internal controls and a well-established training programme are not sufficient, because, in the practical context, the interaction between these elements creates tensions that impact their logical consistency lost when interacting with each other.