The valuation of risk transfer in UK school public private partnership contracts

Research output: Contribution to journalArticlepeer-review

19 Citations (Scopus)

Abstract

A number of studies have examined the public private partnership (PPP) policy and have questioned the risk transfer argument used by the UK government to legitimise its adoption. This paper contributes to the literature by illustrating how accounting numbers have been used to value risks and justify the PPP decision. Data from the full business cases of two UK PPP schools and semi-structured interviews are used to illustrate the complexities and subjective judgements involved in valuing risks and achieving optimal risk transfer. The analysis suggests that the accounting numbers used to value risks are not neutral or objective but are socially constructed and may be manipulated to justify the PPP decision.

Original languageEnglish
Pages (from-to)154-165
Number of pages12
JournalBritish Accounting Review
Volume46
Issue number2
DOIs
Publication statusPublished - Jun 2014
Externally publishedYes

Keywords

  • Accounting
  • Measurement
  • PFI
  • PPP
  • Risk
  • UK
  • Value for money

ASJC Scopus subject areas

  • Accounting

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