Liability of Foreignness in Public-Private Partnership Projects

Kong, Zhenning; Ma, Hanyang; Lv, Kangjuan; Shi, Jonathan

doi:10.1061/jcemd4.coeng-13380

Cited by 2 publications

(4 citation statements)

References 69 publications

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“…However, as project management techniques improve over the years, such as the EPC/turnkey methods of delivery that have already made risk management and cost control, i.e., cost overrun, inflation of the price of the raw materials, considerably less risky [51]. In the meantime, the resilience of O&M operators is becoming more of a question, considering the supply and demand of the provided services tend to become increasingly less sustainable, especially in the case of high inflation in user-payment projects and government payment default in government-payment projects, O&M operators often struggle to meet the financial requirements and standards as predicted at the project planning stage [21,29,50].…”

Section: Risk Allocation and Stakeholders In A Ppp Projectmentioning

confidence: 99%

“…If the contract is awarded directly by the central government, such projects are generally viewed as more attractive due to state guarantees [11], and such projects typically involve MDB support. The MDBs are not necessarily the project's stakeholders, but their presence implies that the external institutional environment and the internal governance of the project are somewhat guaranteed or sufficient enough for PPP [21]. Table 3 details the country risk indicators.…”

Section: Country Riskmentioning

confidence: 99%

“…The top 250 international contractors in the construction industry have a combined contracting revenue of USD 522 billion from projects outside their home countries. Research indicates that the involvement of multinational enterprises (MNEs) and multilateral development banks (MDBs) in PPP projects may have a detrimental impact on project survival [21].…”

Section: Introductionmentioning

confidence: 99%

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Exploring Risk Factors Affecting Sustainable Outcomes of Global Public–Private Partnership (PPP) Projects: A Stakeholder Perspective

Li,

Wang

2023

Buildings

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As a model for delivering infrastructure initiatives, public–private partnerships (PPPs) have gained significant popularity in recent years. The globalization of PPP has exposed them to elevated risks emanating from the international real economy and financial market, which can ultimately result in project cancellations or distress. This study analyzes risk factors affecting the sustainable outcomes of global PPP projects from a stakeholder perspective. After identifying the interests of key stakeholders and examining how various risks influence stakeholders’ interests, a two-step binomial probit model is used to investigate domestic and international risk factors in PPP arrangements based on the World Bank PPI database. The empirical results indicate that inflation has a substantially positive effect on project failure, while factors such as PPP experience, central government involvement, exchange rate fluctuations, etc., significantly contribute to PPP success. In addition, the study demonstrates that trade openness and net foreign direct investment (FDI) inflow are crucial for the transmission of global risks. The study also provides policy implications and recommendations from a risk allocation–stakeholder relationship perspective to enhance the resilience of PPP initiatives based on these findings.

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Section: Risk Allocation and Stakeholders In A Ppp Projectmentioning

confidence: 99%

Section: Country Riskmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Exploring Risk Factors Affecting Sustainable Outcomes of Global Public–Private Partnership (PPP) Projects: A Stakeholder Perspective

Li,

Wang

2023

Buildings

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“…Project governance has been playing an irreplaceable role in the realization of the objectives of construction projects. Kong and Ma constructed a unified theoretical framework with internal governance and the external institutional environment and discuss the important impact of MNE participation on the survival of PPP projects [12]. Crawford [8] points out that project governance is a set of common management frameworks and procedures.…”

Section: Introductionmentioning

confidence: 99%

Influence of Project Governance Mechanisms on the Sustainable Development of Public-Private Partnership Projects: An Empirical Study from China

Song,

Hao

2023

Buildings

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In China, achieving sustainable development goals for PPP projects is an urgent issue. Project governance mechanisms are important to PPP project sustainability, but there are many risk factors in traditional project governance mechanisms. This research focuses on embedding risk governance mechanisms into the traditional project governance system with contract governance mechanisms and relationship governance mechanisms. The main purpose is to reveal the integration of PPP project governance mechanisms and its impact on governance performance and project sustainability, and to propose governance optimization strategies. First, by enriching the understanding of the governance mechanism, governance performance and project sustainability, and improving the measurement scale. Then, by constructing a structural equation model, collecting data through questionnaires, and exploring the effect of the project governance mechanism on project sustainability. (1) The results of direct effect testing show that contractual governance mechanisms, relational governance mechanisms and risk governance mechanisms are positively associated with governance performance, and governance performance is positively associated with project sustainability; (2) the results of mediating effect testing show that interaction of the three governance mechanisms has a positive effect on governance performance. The research results provide a new approach and perspectives for improving project governance mechanisms and achieving sustainable development in the practice of PPP projects.

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Liability of Foreignness in Public-Private Partnership Projects

Cited by 2 publications

References 69 publications

Exploring Risk Factors Affecting Sustainable Outcomes of Global Public–Private Partnership (PPP) Projects: A Stakeholder Perspective

Exploring Risk Factors Affecting Sustainable Outcomes of Global Public–Private Partnership (PPP) Projects: A Stakeholder Perspective

Influence of Project Governance Mechanisms on the Sustainable Development of Public-Private Partnership Projects: An Empirical Study from China

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