The Government of India is trying to tackle the challenges of rapid urbanization through the Smart Cities Mission, launched in 2015. This paper discusses a case about the development of a smart city under this initiative, which exhibits exemplary governance practices while improving developing infrastructure and technological solutions to solve critical problems of the city, e.g., Solid Waste Management. It addresses the question whether building good governance practices results in successful achievements of a public policy program and aimed at infrastructure development along with best practices in governance. This paper attempts to assess whether the Panaji Smart city project is in line with purpose of the Smart Cities Mission ‘to create model cities which can be triggers for planned and rapid urban development on desired lines’. Information for the case study was collected through published data and personal site visits, interviews and discussions with senior officials of the project team and stakeholders. The findings are useful not only in portraying the Smart City of Panaji with respect to citizen engagement, transparency and accountability but also in evaluating the outcomes of the project. It is interesting to note that the ‘model’ framework adopted to implement the project appears to be filled with good governance but has till date not made much impact on lives of residents of the smart city and as yet does not appear to be creating desired networks that would be connecting to urbanization in the region. (JEL G30)
{"title":"Outcomes from Building Transparency in Governance in a Smart City Project in India: A Case Study of Panaji, Goa","authors":"M. Goel, Sheetal Thomas","doi":"10.30958/ajbe.7-1-4","DOIUrl":"https://doi.org/10.30958/ajbe.7-1-4","url":null,"abstract":"The Government of India is trying to tackle the challenges of rapid urbanization through the Smart Cities Mission, launched in 2015. This paper discusses a case about the development of a smart city under this initiative, which exhibits exemplary governance practices while improving developing infrastructure and technological solutions to solve critical problems of the city, e.g., Solid Waste Management. It addresses the question whether building good governance practices results in successful achievements of a public policy program and aimed at infrastructure development along with best practices in governance. This paper attempts to assess whether the Panaji Smart city project is in line with purpose of the Smart Cities Mission ‘to create model cities which can be triggers for planned and rapid urban development on desired lines’. Information for the case study was collected through published data and personal site visits, interviews and discussions with senior officials of the project team and stakeholders. The findings are useful not only in portraying the Smart City of Panaji with respect to citizen engagement, transparency and accountability but also in evaluating the outcomes of the project. It is interesting to note that the ‘model’ framework adopted to implement the project appears to be filled with good governance but has till date not made much impact on lives of residents of the smart city and as yet does not appear to be creating desired networks that would be connecting to urbanization in the region. (JEL G30)","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127553688","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Sustainable Development Goals (SDGs) agreed at a United Nations General Assembly in 2015 embrace an ambitious and wide-ranging set of global environmental, social and economic issues designed to effect a transition to a more sustainable future; the United Nations important role of the private sector in addressing the SDGs. The majority of Europe’s leading retailers have been pursuing sustainability strategies, and reporting on their achievements against their strategies, for some time and within the European retail community there is a recognition that retailers have a vital role to play in contributing to the achievement of the SDGs. This exploratory paper reviews and reflects on how seven of Europe’s leading retailers claim to be committed to addressing the SDGs. The findings revealed that all seven retailers reported on their commitment to contributing to the achievement of the SDGs, though the scale and the extent of their commitment varied. In reviewing the retailers’ approach to the SDGs, the authors drew attention to a number of issues namely, concentration on specific SDGs, issues of measurement and reporting and tensions between sustainability and economic growth.
{"title":"The Sustainable Development Goals and Leading European Retailers","authors":"P. Jones, D. Comfort","doi":"10.30958/ajbe.7-1-5","DOIUrl":"https://doi.org/10.30958/ajbe.7-1-5","url":null,"abstract":"The Sustainable Development Goals (SDGs) agreed at a United Nations General Assembly in 2015 embrace an ambitious and wide-ranging set of global environmental, social and economic issues designed to effect a transition to a more sustainable future; the United Nations important role of the private sector in addressing the SDGs. The majority of Europe’s leading retailers have been pursuing sustainability strategies, and reporting on their achievements against their strategies, for some time and within the European retail community there is a recognition that retailers have a vital role to play in contributing to the achievement of the SDGs. This exploratory paper reviews and reflects on how seven of Europe’s leading retailers claim to be committed to addressing the SDGs. The findings revealed that all seven retailers reported on their commitment to contributing to the achievement of the SDGs, though the scale and the extent of their commitment varied. In reviewing the retailers’ approach to the SDGs, the authors drew attention to a number of issues namely, concentration on specific SDGs, issues of measurement and reporting and tensions between sustainability and economic growth.","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"29 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134128378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Recent decades have witnessed increasing interest in the concept of the circular economy within both the business world and political circles. The circular economy spans the entire life cycle of products from product design through production, marketing, and consumption, to waste management, recycling, and re-use, and enthusiasm for putting the concept into practice has been identified across different sectors of the economy. This exploratory case study reviews how some of the leading companies in the paper and retail industries, have publicly addressed the circular economy. The case study outlines the nature of the circular economy, provides a cameo literature review of published work on the circular economy, describes the approach adopted for the case study, reports the findings of the review of how the leading companies in the paper and retail industries have addressed the circular economy, and discusses some wider issues. Keywords: circular economy, case study, paper industry, retail industry, greenwash, economic growth
{"title":"The Circular Economy: An Exploratory Case Study from the Paper and Retail Industries","authors":"P. Jones, D. Comfort","doi":"10.30958/ajbe.7-4-5","DOIUrl":"https://doi.org/10.30958/ajbe.7-4-5","url":null,"abstract":"Recent decades have witnessed increasing interest in the concept of the circular economy within both the business world and political circles. The circular economy spans the entire life cycle of products from product design through production, marketing, and consumption, to waste management, recycling, and re-use, and enthusiasm for putting the concept into practice has been identified across different sectors of the economy. This exploratory case study reviews how some of the leading companies in the paper and retail industries, have publicly addressed the circular economy. The case study outlines the nature of the circular economy, provides a cameo literature review of published work on the circular economy, describes the approach adopted for the case study, reports the findings of the review of how the leading companies in the paper and retail industries have addressed the circular economy, and discusses some wider issues. Keywords: circular economy, case study, paper industry, retail industry, greenwash, economic growth","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115292953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of this study is to examine the effect of employee perceived selfefficacy on intrapreneurial behaviour among Small and Medium size Enterprises (SMEs). We surveyed 234 employees from SMEs in the fresh fruit juice processing industry in Ghana using a structured questionnaire to obtain data. A statistical data analysis was performed. Our findings show that employees’ perceived self-efficacy relates positively to their intrapreneurial behaviour. However, we observed also that self-efficacy was not a sufficient condition for intrapreneurial behaviour to occur. Firm characteristics play a crucial role in the practice of such behaviour. That is, while employees’ self-efficacy is a principal determinant of employees’ intrapreneurial behaviour, the strength of self-efficacy is enhanced by firm resource. These results have policy implications for the promotion of SMEs in Ghana and similar contexts. The study contributes to knowledge on intrapreneurship in SMEs by pointing out that individual characteristics are not always linear in relation to intrapreneurship. Other factors that enhance these characteristics need to be taken account of. We provide recommendations for policy makers and researchers. (JEL H32, J20, O15)
{"title":"The Influence of Employee Self-efficacy, Outcome Expectation and Firm Resources on Intrapreneurial Behaviour: Insight from Ghana","authors":"Nina Afriyie","doi":"10.30958/ajbe.6-4-4","DOIUrl":"https://doi.org/10.30958/ajbe.6-4-4","url":null,"abstract":"The purpose of this study is to examine the effect of employee perceived selfefficacy on intrapreneurial behaviour among Small and Medium size Enterprises (SMEs). We surveyed 234 employees from SMEs in the fresh fruit juice processing industry in Ghana using a structured questionnaire to obtain data. A statistical data analysis was performed. Our findings show that employees’ perceived self-efficacy relates positively to their intrapreneurial behaviour. However, we observed also that self-efficacy was not a sufficient condition for intrapreneurial behaviour to occur. Firm characteristics play a crucial role in the practice of such behaviour. That is, while employees’ self-efficacy is a principal determinant of employees’ intrapreneurial behaviour, the strength of self-efficacy is enhanced by firm resource. These results have policy implications for the promotion of SMEs in Ghana and similar contexts. The study contributes to knowledge on intrapreneurship in SMEs by pointing out that individual characteristics are not always linear in relation to intrapreneurship. Other factors that enhance these characteristics need to be taken account of. We provide recommendations for policy makers and researchers. (JEL H32, J20, O15)","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123585883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper presents the findings on Greek womenâs viewpoints and opinions in regards to foreign fashion brands and the symbolic meanings they attach to them. Further, a greater and wider knowledge was desired on the effects of fashion magazine brand advertising in the formation to the views and symbolisms formed, through the adoption of a symbolic interactionist framework. Additionally, a greater understanding on the communication process between Greek women and fashion brands advertised in fashion magazines was also of interest, assisting in comprehending Greek womenâs interpretation of print images and how these images influence fashion brand symbolism. This research provides an understanding towards the general mentality of Greek women towards foreign fashion brands, how they attach meanings to those brands and what influences this process.
{"title":"Greek Womens’ Mentality towards Fashion Brands and the Influence of Print Images","authors":"Ekaterini Drosou","doi":"10.30958/ajbe.5-4-3","DOIUrl":"https://doi.org/10.30958/ajbe.5-4-3","url":null,"abstract":"This paper presents the findings on Greek womenâs viewpoints and opinions in regards to foreign fashion brands and the symbolic meanings they attach to them. Further, a greater and wider knowledge was desired on the effects of fashion magazine brand advertising in the formation to the views and symbolisms formed, through the adoption of a symbolic interactionist framework. Additionally, a greater understanding on the communication process between Greek women and fashion brands advertised in fashion magazines was also of interest, assisting in comprehending Greek womenâs interpretation of print images and how these images influence fashion brand symbolism. This research provides an understanding towards the general mentality of Greek women towards foreign fashion brands, how they attach meanings to those brands and what influences this process.","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"131 6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116868201","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper aims at highlighting the importance of climate protection in the world and in Europe due to climate change, as well as the role of multilateral development banks in climate finance. The topic has a current relevance as in 2017 President Donald Trump gave a notice to quit the Paris Climate Agreement accepted by all United Nations (UN) member states, amongst them by the members of the European Union (EU). The move of the United States (US) President was a shocking surprise worldwide and provoked heavy reactions â including the US. The paper gives an overview of the relationship between climate change, climate protection and climate finance. It sees climate change a threatening reality of today, affecting Europe as well. It considers climate protection necessary not only on country but also on regional and global level. Besides regulation and voluntary pledges, it attributes a crucial role to climate finance focusing on huge, long-term, high risk investments and projects to mitigate the effects and adapt to climate change. It mentions its sources, major directions and institutions, amongst them the multilateral development banks. It compares them with special attention to Europe exploring similarities and differences how climate finance is reflected in their policy, what resources they mobilize, what kind of projects they finance, what results they have achieved, what their plans are in this area and what reactions their activity provoke. Results show that multilateral development banks play a key role in climate finance. Due to differences in geographic, historic and economic circumstances and exposure to climate change they act on it differently. The paper helps to better understand the links between climate change, climate protection and climate finance and the role of the multilateral development banks in it in a comparative perspective
{"title":"Climate Finance by Multinational Development Banks - with Special Attention to Europe","authors":"Mária Bábosik","doi":"10.30958/ajbe.5-4-4","DOIUrl":"https://doi.org/10.30958/ajbe.5-4-4","url":null,"abstract":"The paper aims at highlighting the importance of climate protection in the world and in Europe due to climate change, as well as the role of multilateral development banks in climate finance. The topic has a current relevance as in 2017 President Donald Trump gave a notice to quit the Paris Climate Agreement accepted by all United Nations (UN) member states, amongst them by the members of the European Union (EU). The move of the United States (US) President was a shocking surprise worldwide and provoked heavy reactions â including the US. The paper gives an overview of the relationship between climate change, climate protection and climate finance. It sees climate change a threatening reality of today, affecting Europe as well. It considers climate protection necessary not only on country but also on regional and global level. Besides regulation and voluntary pledges, it attributes a crucial role to climate finance focusing on huge, long-term, high risk investments and projects to mitigate the effects and adapt to climate change. It mentions its sources, major directions and institutions, amongst them the multilateral development banks. It compares them with special attention to Europe exploring similarities and differences how climate finance is reflected in their policy, what resources they mobilize, what kind of projects they finance, what results they have achieved, what their plans are in this area and what reactions their activity provoke. Results show that multilateral development banks play a key role in climate finance. Due to differences in geographic, historic and economic circumstances and exposure to climate change they act on it differently. The paper helps to better understand the links between climate change, climate protection and climate finance and the role of the multilateral development banks in it in a comparative perspective","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"73 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117110882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article shows that the entropy in a free market is maximized under the allocative efficiency condition. In contrast to that, it is shown that any pre-determined allocation, as it is the case with the collection and distribution of taxes, exhibits a higher probability of minimizing the entropy in the system, where the loss in entropy corresponds to the deadweight loss caused by the excess burden of taxation. The implications are that any chaotic system, or exchange economy, converges to an optimal structure of wealth distribution which maximizes social welfare, in contrast to a randomly, pre-determined distribution of wealth.
{"title":"The Effect of Allocative Efficiency of Free Markets on Entropy and its Implications on Taxes","authors":"S. Unger","doi":"10.30958/ajbe.5-4-2","DOIUrl":"https://doi.org/10.30958/ajbe.5-4-2","url":null,"abstract":"This article shows that the entropy in a free market is maximized under the allocative efficiency condition. In contrast to that, it is shown that any pre-determined allocation, as it is the case with the collection and distribution of taxes, exhibits a higher probability of minimizing the entropy in the system, where the loss in entropy corresponds to the deadweight loss caused by the excess burden of taxation. The implications are that any chaotic system, or exchange economy, converges to an optimal structure of wealth distribution which maximizes social welfare, in contrast to a randomly, pre-determined distribution of wealth.","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126616301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examined how millennials' personality traits (i.e., ecological consciousness and social consciousness) influence their behavior outcomes (i.e., purchase intention and willingness to pay more) in the eco-fashion context by applying attribution theory. This study also tested the moderating effect of need for variety on the relationship between millennials' personality traits and their behavior outcomes. A focus group including 9 participants and an online questionnaire involving 141 participants were used to accomplish the purpose of the study. A confirmatory factor analysis (CFA) was used to test how well the measured variables represented the various constructs, and structural equation modeling (SEM) was used to test the hierarchical relationships among millennials' personality traits and their behavior outcomes. The results indicated that millennials' ecological consciousness and social consciousness positively influenced their purchase intention and willingness to pay more for eco-fashion. Furthermore, the results supported the existence of a moderating effect of millennials' need for variety on the relationship between social consciousness and willingness to pay more. Specifically, when millennials had a higher need for variety, their social consciousness had a stronger positive effect on willingness to pay more for eco-fashion. This study extends previous work involving attribution theory by affirming that millennials' eco-fashion consumption behavior is influenced by their personality traits such as ecological consciousness and social consciousness. In addition, this study has managerial implications for apparel manufacturers, designers, and retailers and offers suggestions for educators in fashion marketing
{"title":"How Millennials’ Personality Traits Influence Their Eco-Fashion Purchase Behavior","authors":"Wei Fu, Beichen Liang","doi":"10.30958/AJBE.5-3-2","DOIUrl":"https://doi.org/10.30958/AJBE.5-3-2","url":null,"abstract":"This study examined how millennials' personality traits (i.e., ecological consciousness and social consciousness) influence their behavior outcomes (i.e., purchase intention and willingness to pay more) in the eco-fashion context by applying attribution theory. This study also tested the moderating effect of need for variety on the relationship between millennials' personality traits and their behavior outcomes. A focus group including 9 participants and an online questionnaire involving 141 participants were used to accomplish the purpose of the study. A confirmatory factor analysis (CFA) was used to test how well the measured variables represented the various constructs, and structural equation modeling (SEM) was used to test the hierarchical relationships among millennials' personality traits and their behavior outcomes. The results indicated that millennials' ecological consciousness and social consciousness positively influenced their purchase intention and willingness to pay more for eco-fashion. Furthermore, the results supported the existence of a moderating effect of millennials' need for variety on the relationship between social consciousness and willingness to pay more. Specifically, when millennials had a higher need for variety, their social consciousness had a stronger positive effect on willingness to pay more for eco-fashion. This study extends previous work involving attribution theory by affirming that millennials' eco-fashion consumption behavior is influenced by their personality traits such as ecological consciousness and social consciousness. In addition, this study has managerial implications for apparel manufacturers, designers, and retailers and offers suggestions for educators in fashion marketing","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"9 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130074584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of this study is to investigate whether the financial reporting under International Financial Reporting Standards (IFRS) has more quality than local GAAP for firms listed on Taiwan stock exchange. Financial Reporting Quality is measured in this study by three attributes of earnings introduced in previous literature, namely: 1) earnings management expressed as managing towards positive earnings and earnings smoothing and, 2) timely loss recognition expressed as the asymmetric incorporation of economic gains and losses and large negative net income, and 3) value relevance. Ordinary Least Square (OLS) Regression analysis, Ztest, and Binary Logistic Regression are employed to investigate the pre-IFRS (2008- 2010) and post-IFRS (2012-2014) adoption periods on value relevance, earnings management, and timely loss recognition. The study employs a sample of 426 manufacturing firms from 8 industries listed on Taiwan stock exchange. The study finds that firms adopting IFRS evidence less earnings smoothing. However, there is no significant difference in either the timely loss recognition or the value relevance of accounting information between the pre and post-adoption periods. This study contributes to the literature by using data from an emerging market. It provides an insight to practitioners, international standard setters and regulators into the international debate on the effects of the switch from local GAAP to IFRS on Financial Reporting Quality.
{"title":"The Effects of International Financial Reporting Standards on Financial Reporting Quality","authors":"Wafaa Salah, A. Abdel-Salam","doi":"10.30958/AJBE.5-3-3","DOIUrl":"https://doi.org/10.30958/AJBE.5-3-3","url":null,"abstract":"The purpose of this study is to investigate whether the financial reporting under International Financial Reporting Standards (IFRS) has more quality than local GAAP for firms listed on Taiwan stock exchange. Financial Reporting Quality is measured in this study by three attributes of earnings introduced in previous literature, namely: 1) earnings management expressed as managing towards positive earnings and earnings smoothing and, 2) timely loss recognition expressed as the asymmetric incorporation of economic gains and losses and large negative net income, and 3) value relevance. Ordinary Least Square (OLS) Regression analysis, Ztest, and Binary Logistic Regression are employed to investigate the pre-IFRS (2008- 2010) and post-IFRS (2012-2014) adoption periods on value relevance, earnings management, and timely loss recognition. The study employs a sample of 426 manufacturing firms from 8 industries listed on Taiwan stock exchange. The study finds that firms adopting IFRS evidence less earnings smoothing. However, there is no significant difference in either the timely loss recognition or the value relevance of accounting information between the pre and post-adoption periods. This study contributes to the literature by using data from an emerging market. It provides an insight to practitioners, international standard setters and regulators into the international debate on the effects of the switch from local GAAP to IFRS on Financial Reporting Quality.","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"372 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124657258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Since the presidential elections in November 2015, Argentina's economic system has shifted back to a more neo-liberal paradigm. After more than 15 years of "neodesarrollismo" characterized by large scepticism towards inward FDI, the country opens up to international investment into infrastructure. With a new law adopted in early 2017, Argentina promotes public-private-partnership (PPP) projects. The expectations in Argentina vary from the belief that inward FDI will significantly contribute to the modernization of infrastructure to the fear that PPP projects will surrender the country to the interest of international capital. Even though the government believes that the ambitious National Infrastructure Plan with intended investment of US-$69bn in transport and energy infrastructure cannot be achieved without PPP projects, a critical analysis of the conditions under which PPP projects may be successfully applied in Argentina, is yet missing. In order to identify such conditions, a triangulation of three research methods was chosen: First, cases in Europe and Latin America were analysed in order to identify key success factors and arrangements correlated with project deficiencies. The focus was on contractual arrangements of risk distribution between stake holders and impediments to cash flow analysis. Second, documentary analysis was applied to examine the regulatory and institutional environment in Argentina. Third, in-depth interviews with 22 experts from Europe and Latin America were conducted. The experts represented the major stake holders in PPP projects: officials from government procurement, lawyers, bank representatives, and managers of project companies and major suppliers. As a result, conditions for a successful application of the PPP concept in Argentina's road and underground railway infrastructure as well as in integrated waste management systems were derived. The research was carried out in the framework of a bi-national Master program in International Business run by the Hochschule Mainz (Germany) and UCES, Buenos Aires.
{"title":"Opening Argentina to Public-Private Partnerships: Opportunities and Risks for Government Entities and Private Investors","authors":"Ulrich Schuele, F. Liening-Ewert, D. Schäffer","doi":"10.30958/AJBE.5-3-1","DOIUrl":"https://doi.org/10.30958/AJBE.5-3-1","url":null,"abstract":"Since the presidential elections in November 2015, Argentina's economic system has shifted back to a more neo-liberal paradigm. After more than 15 years of \"neodesarrollismo\" characterized by large scepticism towards inward FDI, the country opens up to international investment into infrastructure. With a new law adopted in early 2017, Argentina promotes public-private-partnership (PPP) projects. The expectations in Argentina vary from the belief that inward FDI will significantly contribute to the modernization of infrastructure to the fear that PPP projects will surrender the country to the interest of international capital. Even though the government believes that the ambitious National Infrastructure Plan with intended investment of US-$69bn in transport and energy infrastructure cannot be achieved without PPP projects, a critical analysis of the conditions under which PPP projects may be successfully applied in Argentina, is yet missing. In order to identify such conditions, a triangulation of three research methods was chosen: First, cases in Europe and Latin America were analysed in order to identify key success factors and arrangements correlated with project deficiencies. The focus was on contractual arrangements of risk distribution between stake holders and impediments to cash flow analysis. Second, documentary analysis was applied to examine the regulatory and institutional environment in Argentina. Third, in-depth interviews with 22 experts from Europe and Latin America were conducted. The experts represented the major stake holders in PPP projects: officials from government procurement, lawyers, bank representatives, and managers of project companies and major suppliers. As a result, conditions for a successful application of the PPP concept in Argentina's road and underground railway infrastructure as well as in integrated waste management systems were derived. The research was carried out in the framework of a bi-national Master program in International Business run by the Hochschule Mainz (Germany) and UCES, Buenos Aires.","PeriodicalId":169311,"journal":{"name":"Athens Journal of Business & Economics","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126259625","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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