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

Khadaroo, Iqbal (2014) 'The valuation of risk transfer in UK school public private partnership contracts.' The British Accounting Review, 46 (2). pp. 154-165. ISSN 0890-8389

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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.

Item Type: Article
Uncontrolled Keywords: PPP; PFI; UK; Accounting; Risk; Value for money; Measurement
Subjects: H Social Sciences > HJ Public Finance
L Education > L Education (General)
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Accounting Centre
Depositing User: Users 161 not found.
Date Deposited: 17 Oct 2014 14:28
Last Modified: 13 Nov 2015 15:02
URI: http://repository.essex.ac.uk/id/eprint/10927

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