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The Interdependence of Private and Public Interests

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Listed:
  • Mahoney, Joseph
  • McGahan, Anita
  • Pitelis, Christos

Abstract

The predominant focus in research on organizations is either on private or public institutions without consistent consideration of their interdependencies. The emphasis in scholarship on private or public interests has strengthened as disciplinary and professional knowledge has deepened: management scholars, for example, tend to consider the corporation as the unit of analysis, while scholars of public policy often analyze governmental, multilateral, community and non-profit organizations. This article advocates a partial merging of these research agendas on the grounds that private and public interests cannot be fully understood if they are conceived independently. We review three major areas of activity today in which public and private interests interact in complex ways, and maintain that current theories of organization science can be deployed to understand better these interactions. We also suggest that theories of public-private interaction also require development and describe a concept called "global sustainable value creation," which may be used to identify organizational and institutional configurations and strategies conducive to worldwide, intertemporal efficiency and value creation. We conclude that scholarship on organizations would advance if private-public interactions were evaluated by the criterion of global sustainable value creation.

Suggested Citation

  • Mahoney, Joseph & McGahan, Anita & Pitelis, Christos, 2009. "The Interdependence of Private and Public Interests," Papers DYNREG40, Economic and Social Research Institute (ESRI).
  • Handle: RePEc:esr:wpaper:dynreg40
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    Cited by:

    1. Klein, Peter G. & Mahoney, Joseph T. & McGahan, Anita M. & Pitelis, Christos N., 2012. "Who Is in Charge? A Property Rights Perspective on Stakeholder Governance," Working Papers 12-0102, University of Illinois at Urbana-Champaign, College of Business.
    2. Ioanna Boulouta & Christos Pitelis, 2014. "Who Needs CSR? The Impact of Corporate Social Responsibility on National Competitiveness," Journal of Business Ethics, Springer, pages 349-364.
    3. Buso, Marco & Marty, Frederic & Tran, Phuong Tra, 2017. "Public-private partnerships from budget constraints: Looking for debt hiding?," International Journal of Industrial Organization, Elsevier, pages 56-84.
    4. Salla Laasonen & Martin Fougère & Arno Kourula, 2012. "Dominant Articulations in Academic Business and Society Discourse on NGO–Business Relations: A Critical Assessment," Journal of Business Ethics, Springer, pages 521-545.
    5. Candace Martinez & J. Bowen, 2013. "The Ethical Challenges of the UN’s Clean Development Mechanism," Journal of Business Ethics, Springer, pages 807-821.
    6. Cabral, Sandro & Lazzarini, Sergio G. & Azevedo, Paulo F., 2011. "Private Entrepreneurs In Public Services: A Longitudinal Examination Of Outsourcing and Statization Of Prisons," Insper Working Papers wpe_242, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    7. Roehrich, Jens K. & Lewis, Michael A. & George, Gerard, 2014. "Are public–private partnerships a healthy option? A systematic literature review," Social Science & Medicine, Elsevier, vol. 113(C), pages 110-119.
    8. Shuili Du & C. B. Bhattacharya & Sankar Sen, 2011. "Corporate Social Responsibility and Competitive Advantage: Overcoming the Trust Barrier," Management Science, INFORMS, pages 1528-1545.
    9. Nicolas Dahan & Jonathan Doh & Jonathan Raelin, 2015. "Pivoting the Role of Government in the Business and Society Interface: A Stakeholder Perspective," Journal of Business Ethics, Springer, pages 665-680.
    10. Nuno Sobreira & Luis C. Nunes, 2016. "Tests for Multiple Breaks in the Trend with Stationary or Integrated Shocks," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, pages 394-411.
    11. Pitelis, Christos & Teece, David, 2009. "The (new) nature and essence of the firm," MPRA Paper 24317, University Library of Munich, Germany.
    12. Christos N. Pitelis & David J. Teece, 2010. "Cross-border market co-creation, dynamic capabilities and the entrepreneurial theory of the multinational enterprise," Industrial and Corporate Change, Oxford University Press, vol. 19(4), pages 1247-1270, August.
    13. Lamar Pierce & Michael W. Toffel, 2010. "The Role of Organizational Scope and Governance in Strengthening Private Monitoring," Harvard Business School Working Papers 11-004, Harvard Business School, revised Feb 2012.
    14. Adele Santana & Antonino Vaccaro & Donna Wood, 2009. "Ethics and the Networked Business," Journal of Business Ethics, Springer, pages 661-681.
    15. Christos Pitelis, 2013. "Towards a More ‘Ethically Correct’ Governance for Economic Sustainability," Journal of Business Ethics, Springer, pages 655-665.
    16. Klein, Peter G. & Mahoney, Joseph T. & McGahan, Anita M. & Pitelis, Christos N., 2009. "Toward a Theory of Public Entrepreneurship," Working Papers 09-0106, University of Illinois at Urbana-Champaign, College of Business.
    17. Christos N. Pitelis & Pellumb Kelmendi, 2011. "European Industrial Policy: Perspectives, Trends and a Sustainability-focused New Framework," Chapters,in: International Handbook on the Economics of Integration, Volume II, chapter 2 Edward Elgar Publishing.
    18. Autio, Erkko & Rannikko, Heikki, 2016. "Retaining winners: Can policy boost high-growth entrepreneurship?," Research Policy, Elsevier, vol. 45(1), pages 42-55.
    19. Fremeth Adam & Marcus Alfred A., 2016. "The role of governance systems and rules in wind energy development: evidence from Minnesota and Texas," Business and Politics, De Gruyter, vol. 18(3), pages 337-365, October.
    20. Shiying Shi & Heap-Yih Chong & Lihong Liu & Xiaosu Ye, 2016. "Examining the Interrelationship among Critical Success Factors of Public Private Partnership Infrastructure Projects," Sustainability, MDPI, Open Access Journal, vol. 8(12), pages 1-20, December.
    21. Shuili Du & C.B. Bhattacharya & Sankar Sen, 2010. "Corporate social responsibility and competitive advantage: Overcoming the trust barrier," ESMT Research Working Papers ESMT-10-006, ESMT European School of Management and Technology.
    22. Pitelis, Christos & Kelmendi, Pellumb, 2009. "The political economy of European anti-trust and industrial policy," MPRA Paper 23941, University Library of Munich, Germany.
    23. Shuili Du & Edward Vieira, 2012. "Striving for Legitimacy Through Corporate Social Responsibility: Insights from Oil Companies," Journal of Business Ethics, Springer, pages 413-427.
    24. Carpintero, Samuel & Siemiatycki, Matti, 2016. "The politics of delivering light rail transit projects through public-private partnerships in Spain: A case study approach," Transport Policy, Elsevier, vol. 49(C), pages 159-167.

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