Redirigiendo al acceso original de articulo en 21 segundos...
ARTÍCULO
TITULO

Entrepreneurial risk allocation in public-private infrastructure provision in South Africa

F. Ahwireng-Obeng    
J. P. Mokgohlwa    

Resumen

AbstractA primary concern in the development of entrepreneurship through private-public partnerships (PPP) in infrastructure projects is the adversarial, complex and unequal power relations characterising the negotiation of project risk allocation (RA) among the multiple participants. The inertia of the RA process has led to delayed and costly financial closure and sub-economic costs. Transactions costs of up to ten percent have been incurred in documented cases, and the situation is exacerbated in emerging economies, like South Africa, by political and economic instability and unproven track record of PPP.These developments have led to frustration among private sector participants in PPPs and diminished incentives for their continued participation. Therefore, delivering ?satisfactory? RA processes is critical for attracting both domestic and foreign private entrepreneurial resources.The aim of this paper was to ascertain ?critical factors? influencing RA processes; determine the extent to which PPP practices in South Africa have led to equitable entrepreneurial risk allocation; and assess the choice of contract for implementing the outcomes of PPP negotiations.Critical success factors included: limiting apprehensions about market, socio-political, regulatory and legal risks as well as risk of lenders; improving common understanding among PPP participants; enhancing the quality of RFP (request for proposal) processes; and strengthening the commitment of participants. RA practices regarding socio-political, regulatory, financial and legal risks allocations were found to be inequitable, and PPP participants preferred tight and highly specified contracts.

 Artículos similares

       
 
Rofiaty Rofiaty,Ding Chong,Anis Nusron,Nindya Adha Yulianti,Sunaryo Sunaryo     Pág. in press
This study was conducted to analyze the effect of entrepreneurial orientation on company performance through strategic agility. This research uses the SEM analysis method with WarpPLS software. The sample of this study consisted of 204 actors and strateg... ver más

 
Eddy Madiono Sutanto,Evan Lau,Andreas Ezra     Pág. 78 - 94
Entrepreneurship plays an important role in determining the level of economic growth of a country. This study aims are to explorethe impact of entrepreneurial mindset on innovativeness, risk-taking, competitive aggressiveness, autonomy, and proactiveness... ver más

 
Boitumelo Masilela,John Pangala,Jurie van Vuuren    
AbstractPurpose: The primary aim of this study was to investigate the entrepreneurial intentions of social grant recipients in the cities of Johannesburg and Tshwane. This study further investigated the extent to which social grants influence the entrepr... ver más

 
Fenri Abraham Stevi Tupamahu     Pág. 378 - 389
TTourism has become one of the leading sectors in the Indonesian national economy and has become an important sector in contributing to the country's foreign exchange. This study aims to 1) identify and test the effect of entrepreneurial characteristics ... ver más

 
Shaike Marom, Robert N Lussier, Matthew Sonfield     Pág. 33 - 45
The expression that ?Innovation is the central issue in economic prosperity? (Michael Porter), encapsulates the importance of entrepreneurial strategy, which has been linked to firm growth, particularly through its dimensions of innovation and risk. Firm... ver más