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Article
Publication date: 12 March 2019

Juan David Gonzalez-Ruiz, Alejandro Arboleda, Sergio Botero and Javier Rojo

The purpose of this paper is to develop an investment valuation model using the mezzanine debt mechanism based on blue bonds that explicitly allude to public–private partnerships…

1086

Abstract

Purpose

The purpose of this paper is to develop an investment valuation model using the mezzanine debt mechanism based on blue bonds that explicitly allude to public–private partnerships (P3s) and project finance (PF). Additionally, this study proposes the financial captured value (FCV) theory for measuring how much financial value lenders may capture by becoming sponsors through financing of sustainable infrastructure systems (SIS).

Design/methodology/approach

The investment valuation model was validated through the Aguas Claras wastewater treatment plant as a case study.

Findings

The empirical results show that lenders may capture financial value by converting outstanding debt into equity shares throughout the operation and maintenance stage. Furthermore, case study results provide new insights into the implications of the debt–equity conversion ratio on the relationship between the sponsors’ internal rate of return and the FCV.

Research limitations/implications

The most significant limitation is the lack of primary and secondary information on blue bonds. Thus, robust statistical analyses to contrast results were not possible.

Practical implications

Researchers and practising professionals can improve their understanding of how mezzanine debt, P3s and PF into an investment valuation model allows financing SIS using a non-conventional financial mechanism. The recommendations will benefit both the academia as well infrastructure industry in bridging the gap between design theory and practice.

Originality/value

Sustainability components have not been addressed explicitly or combined in the financing’s structuring. Therefore, the investment valuation model could be considered a novel methodology for decision making related to financing and investment of SIS.

Details

Engineering, Construction and Architectural Management, vol. 26 no. 5
Type: Research Article
ISSN: 0969-9988

Keywords

Abstract

Details

The New Era of Global Services: A Framework for Successful Enterprises in Business Services and IT
Type: Book
ISBN: 978-1-83753-627-6

Book part
Publication date: 27 January 2022

Maria Alejandra Gonzalez-Perez and Diana Piedrahita-Carvajal

Seeking to contribute, from an academic perspective, to the construction of a better tomorrow that leaves no segment of society behind, this final chapter presents arguments for…

Abstract

Seeking to contribute, from an academic perspective, to the construction of a better tomorrow that leaves no segment of society behind, this final chapter presents arguments for building sustainable futures that are possible through regenerative development. We talk about ‘futures’ in the plural, because there is more than one future that could be sustainable. We explain the importance of prioritising positive values involving the environment, society and markets, ethical considerations of doing no harm and the search for regenerative relationships that lead to collective action. We also explain that regeneration goes beyond restoration. This chapter is divided into four parts. First, we discuss regenerative capitalism. Then, we explain why climate action must be collective and must involve business, governments, academia and civic organisations. The third part presents a concise summary of the findings of the studies presented in this book. Finally, we explain why we need a new social contract to achieve the goal of sustainable futures through regenerative development.

Details

Regenerative and Sustainable Futures for Latin America and the Caribbean
Type: Book
ISBN: 978-1-80117-864-8

Keywords

Article
Publication date: 25 September 2019

Sara Quach, Scott Weaven, Park Thaichon, Debra Grace and Lorelle Frazer

Drawing on an outside-in marketing perspective, this paper aims to outline the development, implementation, evaluation and reflection of a real-world entrepreneurship education…

Abstract

Purpose

Drawing on an outside-in marketing perspective, this paper aims to outline the development, implementation, evaluation and reflection of a real-world entrepreneurship education (EE) intervention with cognitive, affective and ultimately behavioural objectives.

Design/methodology/approach

A specific and uniform EE program specifically targeted to current “would be” entrepreneurs who were investigating the franchising business model was developed, focusing on the behavioural outcomes. The effectiveness of the EE intervention was evaluated using a quasi-experimental research design, which involved franchisees who had not participated in the EE intervention (control group) and franchisees who had participated in the EE intervention (experimental group). The administration of the national on-line survey yielded a total of 520 responses (194 in the experimental group and 326 in the control group).

Findings

The planning process in the pre-intervention stage included situation analysis, objective setting and decisions in relation to the communication strategy, i.e. content and mode. The effectiveness of the EE intervention was evaluated in the post-intervention stage. The findings indicate that EE intervention resulted in participants’ positive cognitive, affective and behavioural outcomes such as performance and relationship management. Finally, following a reflection process, additional elements covering topics related to work-life balance were incorporated into the module pertaining to an individual’s suitability to become a franchisee.

Originality/value

This paper proposes a conceptual framework that represents an outside-in EE approach whereby problems, audiences, objectives and communication strategies (content and method) are strategically intertwined to produce relevant, measurable and diagnostic behavioural outcomes. The EE intervention can also improve the B2B relationship between actors in a business network.

Details

Journal of Business & Industrial Marketing, vol. 35 no. 1
Type: Research Article
ISSN: 0885-8624

Keywords

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