How Did Balance Loss Occur? A Cross-stakeholder Analysis of Risk Misallocation in a Sponge City PPP Project

Yang Wang (), Qingying Li (), Jian Zuo () and Katharine Bartsch ()
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Yang Wang: Wuhan University
Qingying Li: Wuhan University
Jian Zuo: University of Adelaide
Katharine Bartsch: University of Adelaide

Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), 2022, vol. 36, issue 13, No 19, 5225-5240

Abstract: Abstract To address a growing number of risk misallocation issues amongst stakeholders, this study explored critical factors that influence risk misallocation from a cross-stakeholder perspective. Based on the framework of risk management, the Sponge City Program, in Guyuan City (China), was taken as a case study. The checklist of risk identification was employed to screen and rank the overall project risks, and risk assessment was conducted via a structured questionnaire survey. Logistic regression analysis was adopted to investigate the causes of the misallocation between risk control capability and willingness to take risks for both public and private stakeholders. The findings indicated that public stakeholders were more likely to be affected by information asymmetry, and contract negotiation ability; while risk misallocation for the private stakeholders tended to be affected by market policy, information asymmetry, contract negotiation ability, and financing ability. This insight can inform future studies on risk allocation in PPP water projects for public and private stakeholders to optimize the decision-making process.

Keywords: Public-private partnership; Cross-stakeholder; Risk factors; Risk management; PPP model (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s11269-022-03301-2

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