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Efficient Public-Private Capital Structures

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type="main" xml:lang="de"> L'article présente une argumentation en faveur des structures hybrides de capital public-privé. Le secteur public peut emprunter à moindre coût tandis que les investisseurs privés peuvent générer des réductions de coût de fonctionnement. Lorsque les instruments d'investissement permettent d'internaliser l'avantage financier du secteur public et l'avantage du management du secteur privé, une structure de capital efficiente au sens de Pareto en découle avec les deux secteurs comme actionnaires. L'article montre comment différents schémas de transfert de connaissances en gestion déterminent la structure optimale d'actionnariat pour l'entreprise publique.

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  • Marian MOSZORO, 2014. "Efficient Public-Private Capital Structures," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 85(1), pages 103-126, March.
    • Handle: RePEc:bla:annpce:v:85:y:2014:i:1:p:103-126
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    Cited by:

    1. Julie de Brux & Frederic Marty, 2014. "IPPP Risks and opportunities an economic perspective," Documents de Travail de l'OFCE 2014-11, Observatoire Francais des Conjonctures Economiques (OFCE).
    2. Xuemeng Guo & Bingyao Chen & Yuting Feng, 2022. "Public-Private Partnership Transportation Investment and Low-Carbon Economic Development: An Empirical Study Based on Spatial Spillover and Project Characteristics in China," Sustainability, MDPI, vol. 14(15), pages 1-22, August.
    3. Jing Du & Hongyue Wu & Ruoyu Jin, 2019. "Capital Structure of Public–Private Partnership Projects: A Sustainability Perspective," Sustainability, MDPI, vol. 11(13), pages 1-25, June.
    4. Antonio Estache & Tomas Serebrisky & Liam Wren-Lewis, 2015. "Financing infrastructure in developing countries," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(3-4), pages 279-304.
    5. Moszoro Marian W., 2018. "Public–Private Monopoly," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 18(2), pages 1-15, April.
    6. Fusheng Xie & Lei Hang, 2022. "A Game-Theory-Based Interaction Mechanism between Central and Local Governments on Financing Model Selection in China," Sustainability, MDPI, vol. 14(16), pages 1-18, August.
    7. Patrick Omoruyi Eke & Alexander Ehimare Omankhanlen, 2019. "Public-Private Partnership and Financial Structure Development: Cointegration Lessons for selected sub-Sahara African Economies," Annals of Economics and Finance, Society for AEF, vol. 20(2), pages 783-802, November.
    8. Jing Du & Hongyue Wu & Xianbo Zhao, 2018. "Critical Factors on the Capital Structure of Public–Private Partnership Projects: A Sustainability Perspective," Sustainability, MDPI, vol. 10(6), pages 1-27, June.
    9. Suk Hyun & Donghyun Park & Shu Tian, 2018. "Determinants of Public–Private Partnerships in Infrastructure in Asia: Implications for Capital Market Development," Working Papers id:12887, eSocialSciences.
    10. Bingyao Chen, 2021. "Public–Private Partnership Infrastructure Investment and Sustainable Economic Development: An Empirical Study Based on Efficiency Evaluation and Spatial Spillover in China," Sustainability, MDPI, vol. 13(15), pages 1-20, July.
    11. Dementiev, Andrei, 2016. "Strategic partnerships in local public transport," Research in Transportation Economics, Elsevier, vol. 59(C), pages 65-74.
    12. Po shan Yu & Zuo zhang Chen & Jin Sun, 2018. "Innovative Financing: An Empirical Study on Public–Private Partnership Securitisation in China," Australian Economic Papers, Wiley Blackwell, vol. 57(3), pages 394-425, September.
    13. Moszoro, Marian, 2017. "Regulation Costs and Private-Sector Know-How Spillovers of Public-Private Partnerships," Working Papers 07608, George Mason University, Mercatus Center.
    14. Hyun, Suk & Park, Donghyun & Tian, Shu, 2018. "Determinants of Public–Private Partnerships in Infrastructure in Asia: Implications for Capital Market Development," ADB Economics Working Paper Series 552, Asian Development Bank.
    15. repec:hal:spmain:info:hdl:2441/3n1h5ijlcf80v9csi63s61fdvk is not listed on IDEAS
    16. Deng, Zhongqi & Song, Shunfeng & Chen, Yongjun, 2016. "Private participation in infrastructure project and its impact on the project cost," China Economic Review, Elsevier, vol. 39(C), pages 63-76.
    17. N.F. Cruz & R.C. Marques & A. Marra & C. Pozzi, 2014. "Local Mixed Companies: The Theory And Practice In An International Perspective," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 85(1), pages 1-9, March.
    18. Sanford V. Berg & Makoto Okamura & Haruka Yane & Shinji Yane, 2022. "Efficient performance by companies with mixed ownership: Privatization and divestiture of a vertically integrated public monopoly," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 93(3), pages 717-730, September.
    19. D'Amore, Gabriella & Landriani, Loris & Lepore, Luigi, 2021. "Ownership and sustainability of Italian water utilities: The stakeholder role," Utilities Policy, Elsevier, vol. 71(C).

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    More about this item

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities

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