Regulatory asymmetry and governance imbalances in public-private partnerships: The case of the contemporary art ecosystem

Nathan Potier ()
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Nathan Potier: CEROS - Centre d'Etudes et de Recherches sur les Organisations et la Stratégie - UPN - Université Paris Nanterre, CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

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Abstract: This research examines how regulatory asymmetry in cultural public-private partnerships (PPP) facilitates governance imbalances that enable private sector dominance. Through an exploratory qualitative study of the French contemporary art ecosystem, conducted via a focus group with eight key actors, we reveal a critical regulatory paradox: while public institutions face strict oversight, private actors' influence over public decisions remains largely unregulated. This regulatory gray zone creates structural conditions enabling resource asymmetry accumulation which, combined with public budgetary constraints, precipitates private partners' behavioral reorientation toward strategic agency. Our findings contribute to PPP governance literature by conceptualizing regulatory asymmetry as an antecedent to behavioral shift.

Keywords: Business ecosystem; Stewardship theory; Agency theory; Public-private partnerships PPP; Regulatory asymmetry (search for similar items in EconPapers)
Date: 2026-05-19
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Published in 47e congrès de l’Association Francophone de Comptabilité, Association Francophone de Comptabilité, May 2026, Nancy, France

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05616958

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