Private enterprise and public policy

Mode of access: Internet.

Registered social landlords: private enterprise (f)or public good?

Millions of homes previously owned by councils have been transferred to the ownership of registered social landlords. Many of these are run as private companies under the principles first set out in the Combined Code of Corporate Governance. This articled considers whether it is appropriate to apply both the principles of the Code and regulation from the Housing Corporation as forms of control over such companies, and whether extensive government regulation negates the requirement for a board comprising independent directors expected to make strategic decisions while overseeing the executive. Conflict is created when trying to run these companies with a unitary board structure adhering to Combined Code principles while considering the wider interests of the community. It is questioned whether it is inefficient to try to meet these two objectives simultaneously and whether this system produces the best results for the community, the lenders and the end users.

The role of the National Audit Office in Private Finance Initiative endurance

The Private Finance Initiative (PFI) has become one of the UK’s most contentious public policies. Despite New Labour’s advocacy of PFI as a means of achieving better value for money, criticisms of PFI have centred on key issues such as a lack of cost effectiveness, exaggerated pricing of risk transfers, excessive private sector profits, inflexibility and cumbersome administrative arrangements. Nevertheless, PFI has persisted as a key
infrastructure procurement method in the UK and has been supported as such by successive governments, as well as influencing policy in the Republic of Ireland and other European Nations. This paper explores this paradoxical outcome in relation to the role played in the UK by the National Audit Office (NAO). Under pressure to justify its support for PFI, the Blair government sought support for its policies by encouraging the NAO to investigate issues relating to PFI as well as specific PFI projects. It would have been expected that in fulfilling its role as independent auditor, the NAO would have examined whether PFI projects could have been delivered more efficiently, effectively or economically through other means. Yet, in line with earlier research, we find evidence that the NAO failed to comprehensively assess
key issues such as the value for money of PFI projects, and in so doing effectively acted as a legitimator of PFI policy. Using concepts relating to legitimacy theory and the idea of framing, our paper looks into 67 NAO private finance reports published between 1997 and 2011, with the goal of identifying the preferences, values and ideology underpinning the
NAO’s view on PFI during this period. Our analysis suggests that the NAO sought to legitimise existing PFI practices via a selective framing of problems and questions. Utilising a longitudinal approach, our analysis further suggests that this patterns of selective framing persisted over an extended time period during which fundamental parameters of the policy (such as contract length, to name one of the most important issues) were rarely addressed.
Overall the NAO’ supportive stance toward PFI seems to have relied on 1) a focused on positive aspects of PFI, such as on time delivery or lessons learned, and 2) positive comments on aspects of PFI that were criticised elsewhere, such as the lack of flexibility of underlying contractual arrangements. Our paper highlights the possibility that, rather than providing for a critical assessment of existing policies, national auditing bodies can
contribute to the creation of legitimatory environments. In terms of accounting research we would suggests that the objectivity and independence of accounting watchdogs should not be taken for granted, and that instead a critical investigation of the biases which can characterise these bodies can contribute to a deeper understanding of the nature of lobbying networks in the modern state.

Does the UK Local Finance Improvement Trust (Lift) Initiative Improve Risk Management in Public-Private Procurement?

The UK government introduced the Private Finance Initiative (PFI) and, latterly, the Local Improvement Finance Trust (LIFT) in an attempt to improve public service provision. As a variant of PFI, LIFT seeks to create a framework for the effective provision of primary care facilities. Like conventional PFI procurement, LIFT projects involve long-term contracts, complex multi-party interactions and thus create various risks to public sector clients. This paper investigates the advantages and disadvantages of LIFT with a focus on how this approach facilitates or impedes risk management from the public sector client perspective. Our paper concludes that LIFT has a potential for creating additional problems, including the further reduction of public sector control, conflicts of interest, the inappropriate use of enabling funds, and higher than market rental costs affecting the uptake of space in the buildings by local health care providers. However, there is also evidence that LIFT has facilitated new investment and that Primary Care Trusts (PCTs) have themselves started addressing some of the weaknesses of this procurement format through the bundling of projects and other forms of regional co-operation.

Intervenção direta do estado no domínio econômico: contribuição para uma delimitação das esferas pública e privada a partir da Constituição Federal Brasileira de 1988.

A Constituição Federal Brasileira de 1988, primeiro texto constitucional após o regime militar no país, é um texto plural, pleno de significados e ambivalências, resultado de um esforço na busca de consensos em uma assembleia constituinte heterogênea num país democraticamente jovem. A abrangência de significados da Magna Carta precisa, portanto, a fim de ser aplicada às realidades também plurais e heterogêneas de um país enorme como o Brasil, ser interpretada à luz dessas mesmas realidades, sempre situadas e datadas. Nesse diapasão, a dedução dogmática da esfera legítima da atuação estatal no domínio econômico só pode ser apreendida através da técnica ponderativa, levando em conta o fato da constituição econômica encravada no texto da Lei Maior estabelecer como regra o desenvolvimento da atividade econômica pela livre iniciativa da sociedade. Sob o signo da emancipação da sociedade e da liberdade de empreender por um lado, e da obrigação do Estado garantir as condições da liberdade e do posicionamento estratégico do Brasil no cenário geopolítico e econômico mundial de outro, serão relidas as modalidades interventivas estatais como a prestação de serviços públicos, as atuações monopolistas e em regime de concorrência com a iniciativa privada, produzindo um quadro com as condições que justifiquem a presença do Estado na economia, servindo de guia dinâmico para a elucidação das fronteiras sempre contingentes entre as esferas pública e privada no domínio econômico.

The Diffusion of Risks in Public Private Partnership Contracts

Purpose The UK government argues that the benefits of public private partnership (PPP) in delivering public infrastructure stem from: transferring risks to the private sector within a structure in which financiers put their own capital at risk; and, the performance based payment mechanism, reinforced by the due diligence requirements imposed by the lenders financing the projects (HM Treasury, 2010). Prior studies of risk in PPPs have investigated ‘what’ risks are allocated and to ‘whom’, that is to the public or the private sector. The purpose of this study is to examine ‘how’ and ‘why’ PPP risks are diffused by their financiers. Design/methodology/approach This study focuses on the financial structure of PPPs and on their financiers. Empirical evidence comes from interviews conducted with equity and debt financiers. Findings The findings show that the financial structure of the deals generates risk aversion in both debt and equity financiers and that the need to attract affordable finance leads to risk diffusion through a network of companies using various means that include contractual mitigation through insurance, performance support guarantees, interest rate swaps and inflation hedges. Because of the complexity this process generates, both procurers and suppliers need expensive expert advice. The risk aversion and diffusion and the consequent need for advice add cost to the projects impacting on the government’s economic argument for risk transfer. Limitations and implications The empirical work covers the private finance initiative (PFI) type of PPP arrangements and therefore the risk diffusion mechanisms may not be generalisable to other forms of PPP, especially those that do not involve the use of high leverage or private finance. Moreover, the scope of this research is limited to exploring the diffusion of risk in the private sector. Further research is needed on how risk is diffused in other settings and on the value for money implication of risk diffusion in PPP contracts. Originality/value The expectation inherent in PPP is that the private sector will better manage those risks allocated to it and because private capital is at risk, financiers will perform due diligence with the ultimate outcome that only viable projects will proceed. This paper presents empirical evidence that raises questions about these expectations. Key words: public private partnership, risk management, diffusion, private finance initiative, financiers

UK Public Private Partnerships and the Credit Crunch: A Case of Risk Contagion?

During the past twenty years, the UK has relied heavily on Public Private Partnerships (PPP) and especially the Private Finance Initiative in the procurement of infrastructure and services. Discussing the causes of the credit crunch and its effects on PPP, this paper notes that the provision of new public sector infrastructure and related services has been adversely affected by the impact of the credit crunch on Private Finance Initiatives (PFIs). These problems have arisen primarily from the unwillingness of commercial banks to replace collapsed PFI bond financing unless new PFI contracts reduce financial risks; which, in turn, is likely to increase the cost of these projects to the public sector. Additional financial strains have arisen for the UK government from the need to bail out collapsed PFI projects. Overall we find evidence that the UK commitment to PFI has not only increased immediate fiscal pressures on the UK when these have become least palatable, but has also created fiscal vulnerabilities at local and national levels which are likely to hamper the country’s ability to launch counter-cyclical responses to the ongoing crisis.

Perspectives on the Future of Public Private Partnership in the UK

During the past two decades the UK has played a leading position in the development and application of Public Private Partnership (PPP) based infrastructure procurement through its Private Finance Initiative model. This model had been developed during the last years of the Major Government and expanded during the early years of the Blair Government. The banking and economic crisis of 2007-09 has created major challenges to the use of PPP in the UK, making the sustainability of past levels of PPP investment and the future direction of PPP based infrastructure procurement in that country uncertain. This chapter summarises key developments in UK PPP up to the crisis; reviews the economic issues that have led up to the crisis; discusses the immediate impact of the crisis on the UK PFI and PPP market together with the transition arrangements that were put into to place by the Brown government; and, lastly, looks at recent initiatives taken by Cameron’s Conservative-Liberal Coalition Government under the designation of Private Finance 2 (PF2).

"Public on the outside, private on the inside": the organizational hybridization, sense of belonging and identity strategies of the employees of a public unemployment insurance fund in Switzerland

A number of studies show that New Public Management reforms have altered the current identity benchmarks of public officials, particularly by hybridizing values or management practices. However, existing studies have largely glossed over the sense of belonging of officials when their organization straddles the concerns of public service and private enterprise, so that the boundary between public and private sector is blurred. The purpose of this article is precisely to explore this sense of belonging in the context of organizational hybridization. It does so by drawing on the results of research conducted among the employees of a public unemployment insurance fund in Switzerland. On the one hand, the analysis shows how much their markers of belonging are hybrid, multiple and constructed in negative terms (with regard to the State), while indicating that the working practices of the employees point to an identity that is nevertheless closely bound with the public sector. On the other hand, the analysis shows that the organization plays strategically with its State status, by exploiting either its private or public identity in line with the needs related to its external image. The article concludes with a discussion of the results highlighting the strategic functionality of the hybrid identity of the actors.

Victorian marine habitat mapping project

Deakin University along with the CRC for Coastal Zone, Estuary and Waterway Management, the Glenelg Hopkins CMA and the Marine & Coastal Community Network have formed a partnership to map the benthic habitats at 14 sites across approximately 5% of Victorian State waters. The project is funded through the Federal Government by the Natural Heritage Trust and brings together expertise from universities, government agencies and private enterprise. We will be using hydro-acoustic sonar technologies, towed video camera and remotely operated vehicles to collect information on the types of substrate and bathymetry to derive habitat maps. The coastal fringe of Victoria encompasses rich and diverse ecosystems which support a range of human uses including commercial and recreational fisheries, whale watching, navigation, aquaculture and gas development. The Deakin lead initiative will map from the 10-metre contour (safe ship passage) to the three nautical mile mark for selected regions and will provide a geospatial framework for managing and gaining better understanding of the near-shore marine environment Research products will be used for management, educational and research purposes over the coming years.

Because it takes a village to fund the answers: Crowdfunding University Research

Whichever way you look at it, online crowdfunding is ramifying. From its foundations supporting creative industry initiatives, crowdfunding has branched into almost every aspect of public and private enterprise. Niche crowdfunding platforms and models are burgeoning across the globe faster than you can trill “kerching”. Early adopters have been quick to discover that in addition to money, they also get free market information and an opportunity to develop a relationship with their market base. Despite these evident benefits, universities have been cautious entrants in the crowdfunding space and more generally in the emerging ‘collaborative economy’ (Owyang, 2013). There are many cultural and institutional legacies that might explain this reluctance. For example, to date universities have achieved social (and economic) distinction through refining a set of exclusionary practices including, but not limited to, versions of gatekeeping, ranking and credentialing. These practices are reproduced in the expected behaviors of individual academics who garner social currency and status as experts, legislators and interpreters (Osborne, 20014: 435). Digitalization and the emergent knowledge and collaboration economies, have the potential to disrupt the academy’s traditional appeals to distinction and to re-engage universities and academics with their public stakeholders. This chapter will examine some of the challenges and benefits arising from public micro-funding of university-based research initiatives during a period of industrial transition in the university sector.Broadly then this chapter asks; what does scholarship mean in a digital ecosystem where sociality (rather than traditional systems for assessing academic merit) affords research opportunity and success? How might university research be rethought in a networked world where personal and professional identities are blurred? What happens when scholars adopt the same pathways as non-scholars for knowledge discovery, development and dissemination through use of emerging practices such as crowdfunding. These issues will be discussed through detailed exploration of a successful pilot project to crowdfund university research; Research My World. This project, a collaboration between Deakin University and the crowdfunding platform pozible.com, set out to secure new sources of funding for the ‘long-tail’ of academic research. More generally, it aimed to improve the digital capacity of the participating researchers and create new opportunities for public engagement for the researchers themselves as well as the university. We will examine how crowdfunding and social media platforms alter academic effort (the dis-intermediation or re-intermediation of research funding, reduction of the compliance burden, opportunities for market validation and so on), as well as the particular workflows of scholarly researchers themselves (improvements in “digital presence-building”, provision of cheap alternative funding, opportunities to crowdsource non-academic knowledge). In addressing these questions, this chapter will explore the influence that crowdfunding campaigns have for transforming contemporary academic practices across a range of disciplinary instances, providing the basis for a new form of engagement-led research. To support our analysis we will provide an overview of the initiative through quantitative analysis of a dataset generated by the first iteration of Research My World projects.

Paternidad responsable en el Istmo Centroamericano

Incluye Bibliografía

Herbert Marcuse: crítico da sociedade tecnocrática

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Iniciativa privada e educação pública: contribuições metodológicas para a análise de objetos de pesquisa difusos na área de política e gestão educacional

Provides elements for a reflection on methodological strategies in the face of objects of study that prove difficult to approach. Through a case study in education, seeks to show that difficulties in obtaining information and data have been overcome by using an analytical model developed. It is shown that its use allowed inferences broader and reveal hidden inconsistencies in discussions on public and private education. Intended to assist reflection on qualitative research methods for those who deal with such studies. Concludes that the current expectations of management efficiency and transfer of resources sufficient quantity and quality have not materialized with a private enterprise under public education, even if we have succeeded in building a positive image by the promoters of this action with the sectors of public opinion. Prevailing trade policy interests at the expense of the motivations declared the initiative of aid to education, and even can not be said that the initiative has resulted in a private redefined the public character of the systems affected, there is evidence that its implementation represents a unique chapter focused "education", compared to a scenario in which stand out historically mutual aid agreements of a politicaleconomic development between state and private enterprise.

CETA works--for business : a selection of employment and training programs with the private sector /

Includes index.