IDEAS home Printed from https://ideas.repec.org/a/ibn/masjnl/v7y2013i4p31.html

Stakeholder Perceptions on Achieved Benefits of PFI Procurement Strategy

Author

Listed:
  • Abdullahi Umar
  • Noor Amila Zawawi
  • Mohd Faris Khamidi
  • Arazi Idrus

Abstract

The Private Finance Initiative (PFI) has become the most acceptable strategy employed by governments across the globe for the provision of the much needed public infrastructure. Many benefits have been attributed to this form of public procurement while it has also received several criticisms. This study sets out to assess if the benefits attributed to the PFI are being achieved. Survey questionnaires were used to get the perception of delegates from different regions who attended two (2) PFI-focused conferences held independently by two different organisations. The results of the survey are presented in the study. Generally, most of the respondents agreed that the benefits of PFI are being reaped across the globe with ‘helping government spread payment over the life of the asset’, ‘increased investment in infrastructure’, ‘on-time delivery’, ‘contribution to economic growth’, and ‘on-budget delivery’ being the most significant achievements so far and surprisingly ‘providing value for money’ ranking in faraway 17th place out of 20 benefits listed.

Suggested Citation

  • Abdullahi Umar & Noor Amila Zawawi & Mohd Faris Khamidi & Arazi Idrus, 2013. "Stakeholder Perceptions on Achieved Benefits of PFI Procurement Strategy," Modern Applied Science, Canadian Center of Science and Education, vol. 7(4), pages 1-31, April.
    • Handle: RePEc:ibn:masjnl:v:7:y:2013:i:4:p:31
    as

    Download full text from publisher

    File URL: https://ccsenet.org/journal/index.php/mas/article/download/19610/15856
    Download Restriction: no
    File URL: https://ccsenet.org/journal/index.php/mas/article/view/19610
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Frédéric Blanc-Brude & Hugh Goldsmith & Timo Välilä, 2009. "A Comparison of Construction Contract Prices for Traditionally Procured Roads and Public–Private Partnerships," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 35(1), pages 19-40, September.
    2. David Corner, 2006. "The United Kingdom Private Finance Initiative: The Challenge of Allocating Risk," OECD Journal on Budgeting, OECD Publishing, vol. 5(3), pages 37-55.
    3. Shaoul, Jean & Stafford, Anne & Stapleton, Pamela, 2012. "Accountability and corporate governance of public private partnerships," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 23(3), pages 213-229.
    4. Asenova, Darinka & Beck, Matthias, 2010. "Crucial silences: When accountability met PFI and finance capital," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 21(1), pages 1-13.
    5. D. G. Proverbs & G. D. Holt & P. O. Olomolaiye, 1999. "European construction contractors: a productivity appraisal of in situ concrete operations," Construction Management and Economics, Taylor & Francis Journals, vol. 17(2), pages 221-230.
    6. Graeme A. Hodge & Carsten Greve, 2009. "PPPs: THE PASSAGE OF TIME PERMITS A SOBER REFLECTION," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 33-39, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Public-Private Partnerships : Risk Allocation and Value for Money," Other publications TiSEM b9218010-a357-4c0a-805a-7, Tilburg University, School of Economics and Management.
    2. 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.
    3. Graeme Hodge & Carsten Greve, 2013. "Public–private partnership in developing and governing mega-projects," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 9, pages 182-208, Edward Elgar Publishing.
    4. Miranda Sarmento, J.J. & Renneboog, Luc, 2016. "Anatomy of public-private partnerships : Creation, financing, and renegotiations," Other publications TiSEM dc944be7-8594-4439-90da-6, Tilburg University, School of Economics and Management.
    5. Cuthbert, J.R. & Cuthbert, M., 2012. "Why IRR is an inadequate indicator of costs and returns in relation to PFI schemes," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 23(6), pages 420-433.
    6. Ricardo Ferreira Reis & Joaquim Miranda Sarmento, 2019. "“Cutting costs to the bone”: the Portuguese experience in renegotiating public private partnerships highways during the financial crisis," Transportation, Springer, vol. 46(1), pages 285-302, February.
    7. Peda, Peeter & Vinnari, Eija, 2020. "The discursive legitimation of profit in public-private service delivery," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 69(C).
    8. Morales, Jérémy & Sponem, Samuel, 2017. "You too can have a critical perspective! 25 years of Critical Perspectives on Accounting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 43(C), pages 149-166.
    9. Mark A. Moore & Aidan R. Vining, 2023. "PPP performance evaluation: the social welfare goal, principal–agent theory and political economy," Policy Sciences, Springer;Society of Policy Sciences, vol. 56(2), pages 267-299, June.
    10. Ionela Munteanu & Adriana Grigorescu & Elena Condrea & Elena Pelinescu, 2020. "Convergent Insights for Sustainable Development and Ethical Cohesion: An Empirical Study on Corporate Governance in Romanian Public Entities," Sustainability, MDPI, vol. 12(7), pages 1-17, April.
    11. Monica Reig & Mila Gasco-Hernandez & Marc Esteve, 2021. "Internal and External Transparency in Public-Private Partnerships—The Case of Barcelona’s Water Provision," Sustainability, MDPI, vol. 13(4), pages 1-16, February.
    12. Metaxas, Theodore & Preza, Elisavet, 2012. "Public- Private Partnerships in Southeastern Europe: The case of Croatia," MPRA Paper 43830, University Library of Munich, Germany.
    13. Bergh, Andreas & Erlingsson, Gissur & Gustafsson, Anders & Wittberg, Emanuel, 2018. "Municipally owned enterprises: Nested principal-agent relations and conditions for accountability," Ratio Working Papers 306, The Ratio Institute, revised 18 Oct 2018.
    14. Alessandra Cepparulo & Giuseppe Eusepi & Luisa Giuriato, 2024. "Public Finance, Fiscal Rules and Public–Private Partnerships: Lessons for Post-COVID-19 Investment Plans," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 66(1), pages 191-213, March.
    15. repec:osf:socarx:5djfu_v1 is not listed on IDEAS
    16. Tharun Dolla & Boeing Laishram, 2019. "Bundling in public–private partnership projects – a conceptual framework," International Journal of Productivity and Performance Management, Emerald Group Publishing Limited, vol. 69(6), pages 1177-1203, December.
    17. Fernando Camacho & Carlos Oliveira Cruz, 2022. "Toll road sector in Brazil: Regulation by contract and recent innovations," Competition and Regulation in Network Industries, , vol. 23(2), pages 135-152, June.
    18. Iram Khan & Asad Ghalib & Farhad Hossain, 2015. "Stakeholders Involvement or Public Subsidy of Private Interests? Appraising the Case of Public Private Partnerships in Pakistan," Public Organization Review, Springer, vol. 15(2), pages 281-296, June.
    19. repec:osf:socarx:y4zfa_v1 is not listed on IDEAS
    20. Ben Duke, 2020. "Minding the Store: Structured Finance and Risk Governance of ‘Third Sector’ Organisations," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 10(4), pages 50-67.
    21. Willoughby, Christopher, 2013. "How much can public private partnership really do for urban transport in developing countries?," Research in Transportation Economics, Elsevier, vol. 40(1), pages 34-55.
    22. Janusz Myszczyszyn, 2022. "Public-Private Partnership - Development and Dilemmas for the Future from the Point of View of the Public Partner," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 390-400.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:masjnl:v:7:y:2013:i:4:p:31. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.