FINANCIAL ISSUES IN PUBLIC PRIVATE PARTNERSHIPS

2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Antonio Cosimo Devito ◽  
David Arditi ◽  
Arie Gottfried
Keyword(s):  
Construction Industry ◽  
Empirical Investigation ◽  
Public Private Partnerships ◽  
Financing System ◽  
Public Agency ◽  
The Public ◽  
Concession Period ◽  
System 2 ◽  
Financial Issues ◽  
Selection Of

Public-Private Partnerships (PPPs) have gained significant importance in academia, government, and the construction industry over the last three decades. As a result, numerous studies have been published on the topic. These studies investigate various issues associated with PPP projects such as the length of the concession period, the selection of the private consortium, and the laws, rules and regulations that govern PPP implementation. However, there is a lack of systematic overview about issues with particular attention to financial aspects. This paper presents the outcome of a literature review that has been conducted to collect information about financial issues encountered in PPP implementation. This review included a total of 33 papers published in major journals and conference proceedings in the construction field in the last 25 years. At the end of the review, it was possible to identify a set of 19 financial issues that were grouped into five categories, namely (1) financing system, (2) financial market, (3) transaction costs and delays, (4) the public agency, and (5) the private consortium. The choice of focusing on this theme was prompted by the fact that the other issues (i.e., social, legal, and political) are all linked to financial issues. The identification of the salient issues related to financial aspects in PPPs is expected to contribute to the state-of-art in PPP research and implementation as it can pave the way to an empirical investigation that can in turn lead to a streamlining of the PPP processes throughout the world.

PUBLIC PRIVATE PARTNERSHIPS FROM THE POINT OF VIEW OF LARGE CONSTRUCION COMPANIES

2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Antonio Devito ◽  
David Arditi ◽  
Arie Gottfried
Keyword(s):  
Large Scale ◽  
Financial Analysis ◽  
Critical Role ◽  
Public Private Partnerships ◽  
Financing System ◽  
Relative Significance ◽  
Public Agency ◽  
The Public ◽  
Construction Companies ◽  
Financial Issues

Stringent budget constraints and the need to build infrastructures have resulted in Public–Private Partnerships (PPP) being acknowledged as a desirable delivery/financing system for public projects. A PPP is an agreement between a public agency and a private consortium that allows the financing, design, construction, and operation of large scale infrastructure. While the public agency can be a single government department (e.g., a highway department), the private consortium is composed of several parties including contractors, designers, financial institutions, and other investors. The party that plays a critical role in the consortium is typically a large construction company. Various researchers have identified some of the critical factors that affect the success of a PPP, but only few studies have undertaken a comprehensive examination of financial issues. This paper aims to fill this research gap by analyzing information collected from large construction companies pertaining to financial issues. A structured questionnaire survey was administered to the largest 190 international construction companies listed by Engineering News–Record to investigate the relative significance of 19 financial issues that were identified in a thorough review of the literature. The findings indicate that factors such as inappropriate financial analysis, a low rate of return, and long delays in reaching financial closure have a high impact on the success of PPPs. Moreover, the public agency’s tendency for corruption and the private consortium’s weak financial standing can also undermine the financial strength of the arrangement. The findings can be used by all participants in PPPs to evaluate the financial issues in such projects.

scholarly journals PRÁTICAS VICIOSAS EM LICITAÇÕES: ANÁLISE DE CASOS INVESTIGADOS PELA CONTROLADORIA-GERAL DA UNIÃO (CGU)

2018 ◽  
Vol 7 (2) ◽  
pp. 91 ◽  
Author(s):  
Antônio Eronilton Pereira Buriti ◽  
Maria Lírida Calou de Araújo e Mendonça ◽  
Marco Antônio Praxedes de Moraes Filho
Keyword(s):  
Public Sector ◽  
Point Of View ◽  
Public Works ◽  
Public Agency ◽  
The Public ◽  
Public Money ◽  
General Aspects ◽  
And Control ◽  
Official Records ◽  
Selection Of

O principal escopo desta pesquisa se concentra em investigar algumas das práticas viciosas mais comuns durante a realização de processos licitatórios no setor público brasileiro. A pesquisa foi desenvolvida na metodologia exploratória, sendo aplicada a partir de casos práticos examinados por um dos órgãos de fiscalização e controle da verba pública brasileira. Foram estudados 70 (setenta) relatórios da Controladoria-Geral da União, os quais estão disponíveis na página eletrônica do referido órgão. A seleção dos casos práticos se deu aleatoriamente, sem comparar localização, perfil político e grau de repetitividade. O que se buscou foi apresentar o que é considerado bastante “grosseiro” do ponto de vista de erros administrativos. Preliminarmente, o estudo trata de aspectos gerais da licitação pública, abordando os princípios setoriais deste microssistema jurídico e as diferentes modalidades estabelecidas pelo ordenamento. Na sequência, adentrando na proposta central deste trabalho, foram examinados alguns casos práticos constatados a partir de fiscalizações em atividades de execução de obras públicas em diversos períodos e locais do Brasil. O instrumento utilizado na sondagem foram os registros oficiais dos órgãos públicos de controle, bem como, seus documentos disponíveis em suas páginas eletrônicas. A título de conclusão foi possível verificar inúmeras lacunas no tocante a organização destes procedimentos, causa principal do não cumprimento da legislação especializada. VICIOUS BIDDING PRACTICES: ANALYSIS OF CASES INVESTIGATED BY THE BRAZILIAN OFFICE OF THE COMPTROLLER GENERAL (CGU) ABSTRACT The main scope of this research focuses on investigating some of the most common vicious practices during bidding processes in the Brazilian public sector. The research was developed in the exploratory methodology, being applied from practical cases examined by one of the organs of fiscalization and control of the Brazilian public money. We studied seventy (70) of the Comptroller General's reports, which are available on the website of this public agency. The selection of practical cases occurred randomly, without comparing location, political profile and degree of repetitiveness. What was sought was to present what is considered quite "huge" from the point of view of administrative errors. Preliminarily, the study deals with general aspects of public bidding, addressing the sectoral principles of this legal micro-system and the different modalities established by the ordinance. Following, in the central proposal of this work, we examined some practical cases verified from inspections in activities of execution of public works in diverse periods and places of Brazil. The instrument used in the survey were the official records of the public control bodies, as well as their documents available on their electronic pages. As a conclusion, it was possible to identify a number of shortcomings in the organization of these procedures, the main cause of non-compliance with the specialized legislation.

scholarly journals ALGORITHM FOR PRELIMINARY ASSESSMENT OF THE RELIABILITY OF INVESTMENT PROJECTS IN THE CONSTRUCTION INDUSTRY UNDER UNCERTAINTY

2021 ◽  
pp. 141-148
Author(s):  
O.A. Tuhai ◽  
◽  
T.V. Vlasenko ◽  
Keyword(s):  
Decision Making ◽  
Construction Industry ◽  
Construction Projects ◽  
Construction Project ◽  
Level Of Involvement ◽  
Investment Projects ◽  
The Public ◽  
The Social ◽  
Selection Of ◽  
Theory Of Fuzzy Sets

Abstract. The construction industry is exposed to high risks, which cannot be ignored in case of large investments. The choice of a reliable investment and construction project is important for the success of the investor. A reliable choice of investment and construction project requires taking into account many uncertainties for decision-making. The investor has to be aware of the risks related to the implementation of investment and construction projects, as well as the level of involvement of all the uncertainties in the overall risk of investing in a particular project. These factors may be related to the economic environment, the public policy, mood of the social environment, the market, etc. Accordingly, factor-based decision-making is a vital process that should be considered when alternative investment and construction projects are being assessed. As the construction industry is characterized by long investment cycles, it is a dynamic, complex system with uncertain, incomplete data, as a consequence of a fundamental practical problem when applying investment-selection models construction projects are to determine the distribution of uncertainties to calculate the reliability of the projects. More recently, most approaches to pre-selection investment and construction projects have been presented using linguistic estimates instead of numerical values. This article presents a multi-criteria decision-making methodology for analysis and selection of the most reliable investment and construction project under the conditions of risk and uncertainty. This approach is based on the theory of fuzzy sets, which has the advantage of using linguistic estimates and precise for qualitative and quantitative assessments respectively.

Citra Islam Moderat: Aksi Cyber PR dari PWNU Jawa Timur

2018 ◽  
Vol 1 (2) ◽  
pp. 212-232
Author(s):  
Sam Abede Pareno ◽  
M Rif’an Arif
Keyword(s):  
Text Structure ◽  
Online Media ◽  
Religious Traditions ◽  
The Public ◽  
Expert Opinions ◽  
Muslim Countries ◽  
Key Word ◽  
Nahdlatul Ulama ◽  
Muslim Majority ◽  
Selection Of

ABSTRACT Religious traditions in Indonesia are known to be very moderate and tolerant abroad is a reflection of the character of a great noble nation. Between religion, tradition and culture are able to perform compounds so as to create a genuine religious harmony. Because of this reality Indonesia is regarded as the largest Muslim majority country in the world that almost without conflict, in the midst of reality Muslim countries in the Middle East that impressed the dispute into the daily menu. However, the reality of Indonesia as a moderate nation is injured by the act of a group that is fond of terrorism and radicalism by riding Islamic religious teachings. Thus, this reversed religion is assumed as a source of cruelty.   It is through that phenomenon researcher, feel the need to examine the strategy of disseminating moderate Islam by Nahdlatul Ulama. The selection of this Islamic organization according to the authors due to its success in moderating Islam in Indonesia. In this study, the study using a qualitative approach or method as well as adopting the theory of Van Dijk discourse analysis as a scalpel to peel the discourse of moderate Islam published by PWNU East Java through the website. As for this research, the findings are important, among others are: 1) moderate Islamic discourse campaigned by Nahdlatul Ulama East Java is categorized into three segments, namely social, religious and nationality. 2) the text structure that builds moderate Islamic discourse NU East Java in Van Dijk perspective constructed in three domains, namely text, social cognition and social context. 3) the principles of Public Relationship implemented by NU through cyber (online media), among others; News publications and expert opinions, production of image and video-based information, and updating official NU information to the public about their attitudes and views on the phenomena that occur by promoting the values of Islamic moderatism. Key Word : Islamic Moderatism, Nahdlatul Ulama, Cyber Public Relationship

Beyond Financial Reporting. Integrated Reporting and its determinants: Evidence from the context of European state-owned enterprises

2019 ◽  
pp. 43-72
Author(s):  
Giuseppe Nicolò ◽  
Gianluca Zanellato ◽  
Francesca Manes-Rossi ◽  
Adriana Tiron-Tudor
Keyword(s):  
Financial Reporting ◽  
Empirical Investigation ◽  
Gender Diversity ◽  
Accounting Standards ◽  
International Accounting Standards ◽  
Integrated Reporting ◽  
Financial Reports ◽  
The Public ◽  
Explanatory Factors ◽  
Board Gender Diversity

Integrated reporting (IR), which aims to overcome the limitations of both tradi-tional financial and stand-alone non-financial reports, has gained momentum as a single comprehensive tool merging financial and non-financial information. Initially conceived for private sector entities, IR is also establishing itself in the public sector context as a vehicle for transparency and accountability. This research offers an empirical investigation of IR practices in the State-Owned Enterprises (SOEs) context. More specifically, the paper investigates the levels of disclosure provided through IR by a sample of 34 European SOEs and explores the effects of potential explanatory factors. The results indicate a fair level of IR disclosure and a trend of reporting information already requested under international accounting standards. The findings also highlight that industry (basic materials and financials) and size positively influence the level of IR disclosure in a particularly strong way, while governance features (board size and board gender diversity) and the provision of external assurance do not exert any impact.

The Road to Iraq

2014 ◽  
Author(s):  
Muhammad Idrees Ahmad
Keyword(s):  
Foreign Policy ◽  
Iraq War ◽  
Empirical Investigation ◽  
Decision Makers ◽  
The Public ◽  
The Road ◽  
Cohesive Group ◽  
Political Agents

The Road to Iraq is an empirical investigation that explains the causes of the Iraq War, identifies its main agents, and demonstrates how the war was sold to decision makers and by decision makers to the public. It shows how a small but ideologically coherent and socially cohesive group of determined political agents used the contingency of 9/11 to outflank a sceptical foreign policy establishment, military brass and intelligence apparatus and provoked a war that has had disastrous consequences.

EVALUATION OF MECHANICAL SYSTEMS USED IN PERFUSION

1972 ◽  
Vol 68 (2_Supplb) ◽  
pp. S44-S73 ◽  
Author(s):  
Eugene F. Bernstein
Keyword(s):  
Mechanical Systems ◽  
Organ Perfusion ◽  
Critical Factors ◽  
System 2 ◽  
Common Problems ◽  
Mechanical Components ◽  
Perfusion Experiment ◽  
Selection Of

ABSTRACT Among the critical factors in organ perfusion are (1) the mechanical components of the system, (2) the composition of the perfusate, and (3) the perfusing conditions. In this review, particular consideration is given to the pump, the oxygenator, and cannulas in such systems. Emphasis is placed upon the selection of pertinent equipment for the goals of a particular perfusion experiment, based upon the criteria of adequacy of the perfusion. Common problems in organ perfusion are summarized, and potential solutions to the perfusion problem, involving either biologic or mechanical extracorporeal systems, are suggested.

An Empirical Investigation into Personal Characteristics' Effect on Choosing Complaint Channels

2019 ◽  
Vol 3 (4) ◽  
pp. 195-208
Author(s):  
Hannes Boepple ◽  
Janine Göttling ◽  
Marie-Christin Papen ◽  
Florian U. Siems
Keyword(s):  
Word Of Mouth ◽  
Empirical Investigation ◽  
Personal Characteristics ◽  
Negative Word ◽  
Channel Choice ◽  
Valuable Customer ◽  
Word Of Mouth Communication ◽  
Customer Reaction ◽  
Managerial Perspective ◽  
Selection Of

For companies, complaints are a valuable customer reaction to dissatisfaction. They enable the company to respond to customer issues to prevent them from changing supplier or spreading negative word-of-mouth communication. Previous research identified various influencing factors of complaint behaviour. However, it has been scarcely considered which aspects influence the selection of the complaint channel (e. g. telephone, social media). Therefore, a 1x2 experimental study (n = 244) was conducted. Results reveal effects of personal characteristics (aggressiveness, argumentativeness and social anxiety) on complaint channel choice. A moderating effect of failure severity was also partially found. From a managerial perspective, it is recommended to provide various complaint options. This would allow the disappointed consumer to choose an adequate complaint channel depending on his or her personality.

E-Government : an exploratory study of online government procurement

2008 ◽  
Vol 5 (2) ◽  
pp. 15
Author(s):  
Maniam Kaliannan
Keyword(s):  
Public Sector ◽  
Empirical Investigation ◽  
Government Procurement ◽  
Management Tool ◽  
Government Service ◽  
The Public ◽  
Organizational Perspective ◽  
Effective Manner ◽  
The Government ◽  
Government Level

The quest to improve the government service delivery is becoming an important agenda for most governments. The introduction oflCT in the public sector especially E-Government initiatives opens up a new chapter in the government administration throughout the world. Governments have deployed ICT to serve their citizens in an efficient and effective manner. This paper presents an empirical investigation of Malaysian government's e-Procurement initiative (locally known as e-Perolehan). The aim of the paper is to examine factors that influence the current and future use of the system within the supplier community. These factors are grouped in three perspectives, (i) organizational perspective; (ii) technological perspective; and (Hi) environmental perspective. The general consensus amongst both the buyer and seller communities is that e-procurement will become an important management tool to enhance the performance of supply chain especially in the public sector. However, before this occurs, the findings suggest that several issues must be addressed by the relevant authorities in light of the three perspectives as mentioned above, to improve the procurement process at the federal government level.

Public and Private Net Savings in Developing Countries: Some Empirical Tests for the Period 1972-88 (Distinguishedl Lecture)

1992 ◽  
Vol 31 (4I) ◽  
pp. 431-447
Author(s):  
Peter A. Cornelisse ◽  
Elma Van De Mortel
Keyword(s):  
Public Debt ◽  
World Economy ◽  
Socioeconomic Development ◽  
Critical Size ◽  
Public And Private ◽  
Critical Dimensions ◽  
The Public ◽  
Empirical Tests ◽  
Financial Issues

The severe shocks that rocked the world economy in the 1970s and the ensuing efforts to adjust and to renew economic growth have had a profound effect on the economic literature. Especially the external and public debt problems which reached critical dimensions in many countries attracted much attention. Thus, in the field of macroeconomics financial issues have gained more prominence over the last two decades. Studies relating to the fiscal deficit have been particularly numerous. The critical size of national public debts, the contribution of the public debt to external debt, the reduced confidence in the state as the guide in socioeconomic development and the role of fiscal policy in adjustment processes are among the main reasons for this increased interest.

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