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Risks and the financing of PPP: Perspectives from the financiers

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  • Demirag, Istemi
  • Khadaroo, Iqbal
  • Stapleton, Pamela
  • Stevenson, Caral

Abstract

Public private partnerships (PPP) are an established model for most governments internationally to provide infrastructure-based services, using private finance. Typically the public authority will sign a contract with a special purpose vehicle (SPV), which, because of the holistic nature of PPP, in turn sub-contracts the finance, design, construction, maintenance and soft services to companies that are often related to its shareholders. Thus there is a considerable network of linked organisations that together procure and provide the PPP project.

Suggested Citation

  • Demirag, Istemi & Khadaroo, Iqbal & Stapleton, Pamela & Stevenson, Caral, 2011. "Risks and the financing of PPP: Perspectives from the financiers," The British Accounting Review, Elsevier, vol. 43(4), pages 294-310.
    • Handle: RePEc:eee:bracre:v:43:y:2011:i:4:p:294-310
    DOI: 10.1016/j.bar.2011.08.006
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    Cited by:

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    2. Isaac Akomea-Frimpong & Xiaohua Jin & Robert Osei-Kyei, 2022. "Mapping Studies on Sustainability in the Performance Measurement of Public-Private Partnership Projects: A Systematic Review," Sustainability, MDPI, vol. 14(12), pages 1-20, June.
    3. Song, Jinbo & Jin, Lulu & Zhao, Yunpeng & Hu, Wenjin, 2017. "Using bargaining-game model to negotiate compensation for the early termination of BOT highway projects," Transportation Research Part A: Policy and Practice, Elsevier, vol. 105(C), pages 197-209.
    4. Zhansheng Liu & Yueyue Jiao & Anxiu Li & Ximei Liu, 2021. "Risk Assessment of Urban Rail Transit PPP Project Construction Based on Bayesian Network," Sustainability, MDPI, vol. 13(20), pages 1-23, October.
    5. Khadaroo, Iqbal, 2014. "The valuation of risk transfer in UK school public private partnership contracts," The British Accounting Review, Elsevier, vol. 46(2), pages 154-165.
    6. Colla, Paolo & Hellowell, Mark & Vecchi, Veronica & Gatti, Stefano, 2015. "Determinants of the cost of capital for privately financed hospital projects in the UK," Health Policy, Elsevier, vol. 119(11), pages 1442-1449.
    7. 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.
    8. Lopes, Ana Isabel & Teixeira Caetano, Tânia, 2015. "Firm-level conditions to engage in public-private partnerships: What can we learn?," Journal of Economics and Business, Elsevier, vol. 79(C), pages 82-99.
    9. Lu, Jintao & Rong, Dan & Lev, Benjamin & Liang, Mengshang & Zhang, Chong & Gao, Yangyang, 2023. "Constraints affecting the promotion of waste incineration power generation project in China: A perspective of improved technology acceptance model," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    10. Burke, Richard & Demirag, Istemi, 2015. "Changing perceptions on PPP games: Demand risk in Irish roads," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 27(C), pages 189-208.
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