File Download

There are no files associated with this item.

  Links for fulltext
     (May Require Subscription)
Supplementary

Article: Property rights implications of public-private joint ventures

TitleProperty rights implications of public-private joint ventures
Authors
KeywordsChina
Developers
Hong Kong
Joint Ventures
Property Rights
Public Ownership
Rent
Issue Date2000
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01446193.asp
Citation
Construction Management And Economics, 2000, v. 18 n. 2, p. 131-138 How to Cite?
AbstractWhen a public institution contracts with a developer for a codevelopment project, there are two main options for arrangements: the equity or the cooperative joint venture. Equity is basically a shareholding arrangement, whereby inputs are valued at market worth in exchange for respective shares of ownership of the joint development. Under cooperative joint ventures, however, shares of ownership are not necessarily based on the values of the inputs. The partners simply draw up a contract that defines the inputs and apportions the outputs of the joint development. This paper argues that a cooperative joint venture between a public institution and a private developer is basically an arrangement to reduce dissipation of rent under public ownership. Unlike the equity arrangement, cooperative joint ventures necessarily lead to an apparent transfer of shares from the public institution to the private developer. Evidence found thus far in Hong Kong and China is consistent with this hypothesis. Variations of the cooperative joint venture are discussed together with examples.
Persistent Identifierhttp://hdl.handle.net/10722/168700
ISSN
2015 SCImago Journal Rankings: 0.967
References

 

DC FieldValueLanguage
dc.contributor.authorKwokChun, Wen_US
dc.contributor.authorWalker, Aen_US
dc.date.accessioned2012-10-08T03:31:36Z-
dc.date.available2012-10-08T03:31:36Z-
dc.date.issued2000en_US
dc.identifier.citationConstruction Management And Economics, 2000, v. 18 n. 2, p. 131-138en_US
dc.identifier.issn0144-6193en_US
dc.identifier.urihttp://hdl.handle.net/10722/168700-
dc.description.abstractWhen a public institution contracts with a developer for a codevelopment project, there are two main options for arrangements: the equity or the cooperative joint venture. Equity is basically a shareholding arrangement, whereby inputs are valued at market worth in exchange for respective shares of ownership of the joint development. Under cooperative joint ventures, however, shares of ownership are not necessarily based on the values of the inputs. The partners simply draw up a contract that defines the inputs and apportions the outputs of the joint development. This paper argues that a cooperative joint venture between a public institution and a private developer is basically an arrangement to reduce dissipation of rent under public ownership. Unlike the equity arrangement, cooperative joint ventures necessarily lead to an apparent transfer of shares from the public institution to the private developer. Evidence found thus far in Hong Kong and China is consistent with this hypothesis. Variations of the cooperative joint venture are discussed together with examples.en_US
dc.languageengen_US
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/01446193.aspen_US
dc.relation.ispartofConstruction Management and Economicsen_US
dc.subjectChinaen_US
dc.subjectDevelopersen_US
dc.subjectHong Kongen_US
dc.subjectJoint Venturesen_US
dc.subjectProperty Rightsen_US
dc.subjectPublic Ownershipen_US
dc.subjectRenten_US
dc.titleProperty rights implications of public-private joint venturesen_US
dc.typeArticleen_US
dc.identifier.emailKwokChun, W:wongkc@hku.hken_US
dc.identifier.authorityKwokChun, W=rp01027en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.scopuseid_2-s2.0-0033975209en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0033975209&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume18en_US
dc.identifier.issue2en_US
dc.identifier.spage131en_US
dc.identifier.epage138en_US
dc.publisher.placeUnited Kingdomen_US
dc.identifier.scopusauthoridKwokChun, W=25928823900en_US
dc.identifier.scopusauthoridWalker, A=7403909976en_US

Export via OAI-PMH Interface in XML Formats


OR


Export to Other Non-XML Formats