The Library
Types and functions of special purpose vehicles in infrastructure megaprojects
Tools
Sainati, Tristano, Locatelli, Giorgio, Smith, Nigel, Brookes, Naomi J. and Olver, Graham (2020) Types and functions of special purpose vehicles in infrastructure megaprojects. International Journal of Project Management, 38 (5). pp. 243-255. doi:10.1016/j.ijproman.2020.05.002 ISSN 0263-7863.
Research output not available from this repository.
Request-a-Copy directly from author or use local Library Get it For Me service.
Official URL: http://dx.doi.org/10.1016/j.ijproman.2020.05.002
Abstract
Special Purpose Vehicles (SPVs) are legal instruments, widely employed in infrastructure megaprojects. SPVs support specific transactions, including public-private partnerships and project finance. Despite the widespread use of SPVs, there is limited research concerning their importance and role for project governance. Furthermore, project studies don't distinguish between the different types of SPVs. This paper employs a grounded theory approach to understand the four types of SPVs and their functions for transactions in infrastructure megaprojects. This paper shows that specific types of SPVs, called project companies and industrial vehicles, are relevant for the formal governance of infrastructure megaproject. The paper describes the hybrid nature of SPVs, being between corporations and contracts, and discusses the implications for the transaction cost theory. A better understanding of the types and functions of SPVs will facilitate and enhance the design and negotiation of the formal governance of infrastructure megaprojects.
Item Type: | Journal Article | ||||||||
---|---|---|---|---|---|---|---|---|---|
Divisions: | Faculty of Science, Engineering and Medicine > Engineering > WMG (Formerly the Warwick Manufacturing Group) | ||||||||
Journal or Publication Title: | International Journal of Project Management | ||||||||
Publisher: | Pergamon | ||||||||
ISSN: | 0263-7863 | ||||||||
Official Date: | July 2020 | ||||||||
Dates: |
|
||||||||
Volume: | 38 | ||||||||
Number: | 5 | ||||||||
Page Range: | pp. 243-255 | ||||||||
DOI: | 10.1016/j.ijproman.2020.05.002 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Restricted or Subscription Access |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |