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...

Investment infrastructure is essential for long term economic growth, sustainable regional economic development, and the quality of urban life. Yet the available evidence suggests a significant shortfall in current UK government investment on infrastructure, and a long term pattern of low...

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...

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,...

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...

The PRIME contract is revolutionising the property industry. It has enabled the UK Government’s Department of Social Security to outsource not just its facilities management and property management but also its entire property portfolio and the risks associated with it. PRIME will provide the...

Over the past two decades, many developing countries have grown to become more familiar with the notions and the use of public-private partnership/private financing initiative (PPP/PFI) schemes in building large-scale infrastructure assets. However, owing to higher levels of complexity and...

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...