IDEAS home Printed from https://ideas.repec.org/a/wly/mgtdec/v46y2025i2p1125-1145.html
   My bibliography  Save this article

Research on the Collaborative Mechanism of Value Creation in Public–Private Partnership Projects Under Dynamic Trust

Author

Listed:
  • Zehui Bu
  • Jicai Liu
  • Zujie Lu

Abstract

Public–private partnership (PPP) is now focused on project value creation, with trust playing a crucial role. This study models trust evolution among stakeholders using evolutionary game theory and simulations, revealing that higher initial and sustained trust boosts project value. However, overreliance on trust can lead to deregulation and neglect of contracts, harming outcomes. Spillover effects and speculative behavior also threaten value creation. The study identifies an optimal incentive range for reputation gains, highlighting the need for balanced trust mechanisms, effective incentives, and penalties to ensure collaboration and project success.

Suggested Citation

  • Zehui Bu & Jicai Liu & Zujie Lu, 2025. "Research on the Collaborative Mechanism of Value Creation in Public–Private Partnership Projects Under Dynamic Trust," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 46(2), pages 1125-1145, March.
    • Handle: RePEc:wly:mgtdec:v:46:y:2025:i:2:p:1125-1145
    DOI: 10.1002/mde.4424
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/mde.4424
    Download Restriction: no
    File URL: https://libkey.io/10.1002/mde.4424?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Elisa Villani & Luciano Greco & Nelson Phillips, 2017. "Understanding Value Creation in Public-Private Partnerships: A Comparative Case Study," Journal of Management Studies, Wiley Blackwell, vol. 54(6), pages 876-905, September.
    2. Rahel M. Schomaker & Christian Bauer, 2022. "Trust and transaction costs in public–private partnerships—theoretical reflections and empirical findings," Public Money & Management, Taylor & Francis Journals, vol. 42(4), pages 284-290, May.
    3. Bertrand V. Quélin & Ilze Kivleniece & Sergio Lazzarini, 2017. "Public-Private Collaboration, Hybridity and Social Value: Towards New Theoretical Perspectives," Journal of Management Studies, Wiley Blackwell, vol. 54(6), pages 763-792, September.
    4. Huang, Yongchao & Ren, Tianyu & Zheng, Junjun & Liu, Wenyi & Zhang, Mengshu, 2023. "Evolution of cooperation in public goods games with dynamic resource allocation: A fairness preference perspective," Applied Mathematics and Computation, Elsevier, vol. 445(C).
    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. Watson, Rosina & Wilson, Hugh N. & Macdonald, Emma K., 2020. "Business-nonprofit engagement in sustainability-oriented innovation: What works for whom and why?," Journal of Business Research, Elsevier, vol. 119(C), pages 87-98.
    2. Sarah Easter & Matt Murphy & Mary Yoko Brannen, 2023. "Negotiating Meaning Systems in Multi-stakeholder Partnerships Addressing Grand Challenges: Homelessness in Western Canada," Journal of Business Ethics, Springer, vol. 183(1), pages 31-52, February.
    3. Juelin Yin & Dima Jamali, 2021. "Collide or Collaborate: The Interplay of Competing Logics and Institutional Work in Cross-Sector Social Partnerships," Journal of Business Ethics, Springer, vol. 169(4), pages 673-694, April.
    4. Lascaux, Alexander, 2019. "Absorptive Capacity, Research Output Sharing, and Research Output Capture in University-Industry Partnerships," Scandinavian Journal of Management, Elsevier, vol. 35(3).
    5. Paolo Esposito & Valerio Brescia & Chiara Fantauzzi & Rocco Frondizi, 2021. "Understanding Social Impact and Value Creation in Hybrid Organizations: The Case of Italian Civil Service," Sustainability, MDPI, vol. 13(7), pages 1-26, April.
    6. Samuli Patala & Laura Albareda & Minna Halme, 2022. "Polycentric Governance of Privately Owned Resources in Circular Economy Systems," Journal of Management Studies, Wiley Blackwell, vol. 59(6), pages 1563-1596, September.
    7. Lea Stadtler & Luk N. Wassenhove, 2023. "Between Intensity and Diversity: Leveraging the Role of Place in Cross-Sector Partnerships," Journal of Business Ethics, Springer, vol. 184(4), pages 773-791, May.
    8. Tina C. Ambos & Katherine Tatarinov, 2023. "Fit for solving the grand challenges? From organization design choices to ecosystem solutions," Journal of Organization Design, Springer;Organizational Design Community, vol. 12(4), pages 255-262, December.
    9. Lee, Hsuan-Wei & Cleveland, Colin & Szolnoki, Attila, 2024. "Supporting punishment via taxation in a structured population," Chaos, Solitons & Fractals, Elsevier, vol. 178(C).
    10. Xing, Yijun & Liu, Yipeng & Lattemann, Christoph, 2020. "Institutional logics and social enterprises: Entry mode choices of foreign hospitals in China," Journal of World Business, Elsevier, vol. 55(5).
    11. Buso, Marco & Moretto, Michele & Zormpas, Dimitrios, 2021. "Excess returns in Public-Private Partnerships: Do governments pay too much?," Economic Modelling, Elsevier, vol. 102(C).
    12. Tina C Ambos & Sebastian H Fuchs & Alexander Zimmermann, 2020. "Managing interrelated tensions in headquarters–subsidiary relationships: The case of a multinational hybrid organization," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 51(6), pages 906-932, August.
    13. Raphaël Maucuer & Alexandre Renaud, 2019. "Company’s Business Models and NGOs: Inputs from the Partnerships Portfolio [Business models de l’entreprise et ONG : contributions du portefeuille de partenariats]," Post-Print hal-02062146, HAL.
    14. Ingo Pies & Philipp Schreck & Karl Homann, 2021. "Single-objective versus multi-objective theories of the firm: using a constitutional perspective to resolve an old debate," Review of Managerial Science, Springer, vol. 15(3), pages 779-811, April.
    15. Tom Latten & Daan Westra & Federica Angeli & Aggie Paulus & Marleen Struss & Dirk Ruwaard, 2018. "Pharmaceutical companies and healthcare providers: Going beyond the gift – An explorative review," PLOS ONE, Public Library of Science, vol. 13(2), pages 1-15, February.
    16. Özgü Karakulak & Lea Stadtler, 2022. "Working with Complexity in the Context of the United Nations Sustainable Development Goals: A Case Study of Global Health Partnerships," Journal of Business Ethics, Springer, vol. 180(4), pages 997-1018, November.
    17. Leite, Emilene, 2022. "Innovation networks for social impact: An empirical study on multi-actor collaboration in projects for smart cities," Journal of Business Research, Elsevier, vol. 139(C), pages 325-337.
    18. Erin Leitheiser, 2021. "How domestic contexts shape international private governance: The case of the European Accord and American Alliance in Bangladesh," Regulation & Governance, John Wiley & Sons, vol. 15(4), pages 1286-1303, October.
    19. Jonathan Labbe, 2021. "Study of The Relationship Between Public and Private Venture Capitalists in France: A Qualitative Approach," Papers 2110.09098, arXiv.org.
    20. Erkki-Jussi Nylén & Jan-Erik Johanson & Jarmo Vakkuri, 2023. "Mission-oriented innovation policy as a hybridisation process: the case of transforming a national fertilising system," Science and Public Policy, Oxford University Press, vol. 50(3), pages 509-520.

    More about this item

    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:wly:mgtdec:v:46:y:2025:i:2:p:1125-1145. 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: Wiley Content Delivery (email available below). General contact details of provider: http://www3.interscience.wiley.com/cgi-bin/jhome/7976 .

    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.