Comparative Case Study on Value Creation Mechanism of Public Culture PPP Project
Authors/Creators
- 1. 1School of Public Policy and Management, Tsinghua University, Beijing, China, 100084 2Center for Public-Private Partnership at Tsinghua University, Beijing, China, 100084 3College of Art and Design, Beijing University of Technology, Beijing, China, 100124
Description
PPPs are wild spread in the infrastructure domain. However, public culture PPP projects different from hard infrastructure encounter challenges which embodied in unclearness of value creation mechanism. From the perspective of partnership attribute, this paper puts forward two variables of market embeddedness (partner attribute) and project complexity (content attribute) to develop a theoretical framework of four types of value creation mechanism in public culture PPP projects. Four demonstration cases are selected to test the four types including Construction and Operation Integration based on Fiscal Support (COI-FS), Construction and Operation Separation based on Fiscal Support (COS-FS), Construction and Operation Integration based on Expected Cash Flow (COI-ECF), and Construction and Operation Separation based on Expected Cash Flow (COS-ECF). This paper attempts to provide reference for the development of public culture PPP projects in China.