Private finance has brought to public-private partnerships a third-party overlook on the contracts. Bringing into the appraisal of PPP deals banks and rating agencies results in outsourcing the due diligence of the project to the party best suited to perform it. This reduction in asymmetries of...

Purpose – The UK government argues that the benefits of public private partnership (PPP) in delivering public infrastructure stem from transferring risks to the private sector within a structure in which financiers put their own capital at risk, and the performance-based payment mechanism,...

Purpose – The purpose of this paper is to review research investigating the implications of public private partnership (PPP) schemes for public investment, focusing on the role and effects of accounting as it relates to the assessment, management, control, reporting, accountability and policy...

This paper is concerned with the cost-efficiency of Private Finance Initiatives (PFIs) in the delivery of hospital facilities in the UK. We outline a methodology for identifying the “fair” return on equity, based on the Weighted Average Cost of Capital (WACC) of each investor. We apply this...

Purpose The purpose of this paper is to address the need for further development of tools that could be used to mitigate obsolescence within the built environment. Literature reviewed within this paper indicates a distinct gap in research, allowing for rising obsolescence-driven investments...

Purpose – This paper aims to report findings from a study on factors that made value for money (VFM) in private finance initiative (PFI) projects vulnerable to variations. It seeks to identify the top influencing factors, rank them according to the relative strength of influence, and explore...

Purpose – The purpose of this paper is to explore the implications of the Global Financial Crisis (GFC) on Public Private Partnership (PPP) markets around the world. Specifically, it aims to highlight the extent of over reliance on debt finance, as well as the conditions needed to attract...