Topic: Power relations in the finance of infrastructure public-private partnership projects

Lucia Xiaoyan Liu, Stewart Clegg, Julien Pollack

Research output: Contribution to journalArticlepeer-review

14 Citations (Scopus)

Abstract

This research investigates the impact of project finance on the ability of Special Purpose Vehicles (SPVs) to deliver infrastructure Public Private Partnership (PPP) projects. The research reports on data that was collected through 46 in-depth interviews with senior executive practitioners involved in PPPs in Australia. Analysis of this data confirms that while SPVs are integral vehicles for PPP integration, organizational power dynamics can generate tensions that restrict SPVs’ ability to manage PPP delivery effectively. Control of the key resource of capital, by debt and equity investors, is central in SPV power plays. Improved understanding of power dynamics will help PPPs better achieve benefits through reforms that enhance managerial agency and develop stronger social and system integration, enabling better alignment of the interests of key stakeholders.

Original languageEnglish
Pages (from-to)725-740
Number of pages16
JournalInternational Journal of Project Management
Volume40
Issue number7
DOIs
Publication statusPublished - Oct 2022

Keywords

  • Circuits of power
  • Governmentality
  • Project finance
  • Public-Private Partnerships (PPPs)
  • Resource dependence
  • Social and system integration
  • Special Purpose Vehicles (SPVs)

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