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The Build‐Operate‐Transfer (BOT) model of development of privatized infrastructure projects is implemented through the award of a concession to a private sector consortium which will finance, build and operate the facility. In a competitive BOT tender, the selection of the successful consortium does not depend on the lowest tolls offered by the tenderer. Rather, it is dependent on the ability of the promoter to provide the most competitive package of distinctive winning elements in its proposal during the final negotiations. The promoter must fully understand the government's needs and concerns and be able to address them through the right package of the winning elements. In this paper, these elements are developed from sub‐factors of the critical success factors of technical solution advantage, financial package differentiation and differentiation in guarantees.

This study aims to explore how institutional quality impacts private capital participation in large-scale infrastructure development, particularly in public–private partnership (PPP) projects, aiming to enhance incentives for private sector involvement.

Building on new institutional theory, a triangular theoretical framework was constructed to analyze the high participation of private capital in PPP projects, focusing on seven key institutional factors. Data from 1,319 PPP projects across 36 Belt and Road Initiative (BRI) countries from 2015 to 2020 were then analyzed using a combination of necessary condition analysis (NCA) and fuzzy set qualitative comparative analysis (fsQCA) to evaluate the combined impact and interactions of these factors.

Results indicate that high private capital participation does not hinge on a single institutional quality factor but results from the synergistic influence of multiple factors. The paths leading to high private capital participation can be categorized as regulatory-led, normative-cognitive synergistic, regulatory-normative synergistic and institutional failure-led. Among these, regulatory quality plays a central role in the regulatory-led; the synergy between political stability and voice and accountability is pivotal in the normative-cognitive synergistic, and the rule of law, in combination with voice and accountability, is essential to the regulatory-normative synergistic.

This research systematically examines the multidimensional impact of institutional quality, revealing how different institutional factors interact to influence private capital’s willingness to participate and behavior. It enriches applied research in institutional economics within PPP projects and provides a new theoretical perspective and methodological framework to the scholarly community.

Conventional theories of market entry assume choice availability. This investment assumption is subject to challenges in the power generation market of an emerging economy where the host government controls most key resources and market entry choices. With such constraints, entrants become heavily dependent on their host country partners. This study investigates how the resource dependency frameworks explain better in respect of some US power generation firms that manage to operate electricity facilities in China whereas some have to abort. Using cross‐case analysis, patterns emerged illustrate how two groups of entrants manage key resources differently.

Many countries struggled to respond to the pandemic burden; in fact, most suffer from healthcare incapacity generally. Therefore, they need to find innovative systems to compensate for their deficiencies in dealing with current and future problems. One such goes down the public-private partnership (PPP) route. It is important to note, however, that PPP is not a magic wand, and some of these projects have been criticized for overruns that exceed the value created. Aiming to promote the value created in healthcare PPP projects, this study aims to identify factors and critical points related to their implementation.

A two-stage literature review was conducted to shape semi-structured interviews. Based on this, the questions to be asked in the interviews were prepared. The interviews were conducted with twelve experts. The transcripts of the twelve semi-structured interviews were analyzed using manual thematic analysis to reveal the most critical value-creation factors (VCFs). The VFCs were validated by comparing them with the studies in the literature and by having focus group discussions (FGDs) with the experts. Finally, in an FGD, the experts discussed how these factors affect value creation in healthcare PPP projects.

The findings show that VFCs can be categorized into four dimensions: assets, partnership synergy, cooperation environment and processes. Based on the frequency of codes during the thematic analysis, the most frequently addressed VFCs in each category were identified. These were complementary skills and resources, attitude, early establishment of the operational body and effective design development, respectively.

This research contributes to both society and practice by unveiling VCFs and effective ways to achieve them in healthcare PPP projects. Thus, practitioners can generate more value and bring value to the forefront of healthcare PPPs, which can then enhance the value gained by society.

Studies to date have offered little about VCFs and how to realize value in PPP projects by considering the factors involved in them. Moreover, value creation in PPP healthcare projects has largely remained unexplored, despite PPPs being adopted and investigated quite commonly.

Suggests that there are great opportunities for retailers in the mass rail transit (MRT) malls in Singapore due to their strategic location by bus and train station. States that maximum competitive advantage will be gained only if retailers understand consumer’s perception of the malls and how this affects their behaviour. Outlines the results of a survey of 250 shoppers across 5 malls showing that consumers value convenience, variety, cleanliness, and air‐conditioning. Argues that retailers need to advertise and display their merchandise while mall owners need to attract a good mix of tenants, maintain a good environment and provide good facilities. Suggests that communal activities held in the mall would make them more commercially viable.

Negative perceptions of political risk can prevent capital from being committed to support cross‐border investment. Information about risks that impact infra‐structure projects is often vague, imprecise, subjective, or ambiguous. Political risks in developing countries also often lack meaningful historical and numerical data. A novel fuzzy set approach for quantifying qualitative information on risks (QQIR) in structured finance transactions that bridges the gap between qualitative and quantitative risk assessment methods has been developed. The QQIR Method is validated empirically through the results of an international survey to determine the impact of perceived political risk on Asian infrastructure projects. The impact is measured by the effect on financial project criteria. The impact was assessed across 14 Asian countries and 14 infrastructure sectors. The survey findings are validated by triangulation of three data sets and employing non‐parametric statistics. The validation shows that in 77.5% of all observations the QQIR Method produces mean results that are within 0.85 standard deviations of the absolute values, without elimination of any seemingly unusual or unreasonable responses or data. The validation also shows that with increasing perceived risks, the costs of equity investment, debt finance, and insurance also increase. The QQIR Method is thus a valid tool to quantify perceptions on risks. In this case it has been applied to political risks, but the Method is generic and may be applied to any problem set in which perceptions can be structured and assessed with opinions.

As a pillar of integrated digital delivery (IDD), building information modeling demonstrates the tremendous potential to enhance productivity for the architectural, engineering and construction (AEC) industry worldwide. However, the implementation of digital solutions presents numerous challenges related to its adoption and implementation. Distinguishing a comprehensive set of critical factors can facilitate the construction professionals to execute their strategies in a properly planned manner, thus augmenting the possibilities of successfully implementing BIM in their organization. This study aims to identify critical success factors (CSFs) for BIM adoption and implementation in Singapore.

This study adopted structured empirical questionnaire survey. Relevant data were collected from the various stakeholders in Singapore AEC industry through an online survey questionnaire. Furthermore, data analysis was done using SPSS Statistics software in order to identify the key factors (KFs) based on which the CSFs were derived for BIM adoption and implementation during the construction phase.

From a set of 45 influencing factors, 35 KFs were derived after performing ranking analysis, from which a set of 26 CSFs were finally obtained based on the factor analysis methodology.

This study has identified the CSFs of BIM adoption in Singapore, as well as in the builders' perspective on how to enhance the digitalization in construction projects.

The purpose of this study is to identify driving factors and a quantitative model for implementing public-private partnership (PPP) projects in Ethiopia as a case study in emerging economies.

A review of the literature and semi-structured interviews were carried out to identify driving factors affecting the implementation of PPP projects in the Ethiopian context. Data were collected through a questionnaire survey within three months, with 59 validated responses; mean score technique and factor analysis were conducted. The fuzzy synthetic evaluation (FSE) method was applied to develop a driving index (DI) for implementing infrastructure PPP projects. Finally, a comparative analysis of top-five drivers was conducted between four emerging economies.

Mean values show that all driving variables are important. Through factor analysis, 22 identified driving variables were grouped into six factors, namely, benefit for public and private sectors, attention of private sector, social development, cost reduction, management ability of public sector and ability of private sector. The FSE method constructs a DI and shows that benefit for public and private sectors is the most crucial factor for PPP implementation in the context of Ethiopia. Apart from this, most driving forces for adopting PPP projects in these countries related to financial problems.

This study is one of the first integrate driving factors for PPP implementation. The index provides the decision-makers with a comprehensive tool to assess the needs of PPP implementation.