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Trust is the glue that holds cooperative relationships together and often exists in an asymmetric manner. The purpose of this study is to explore how to mitigate the issue of losses or increased transaction costs caused by opportunistic behavior in a soft environment where trust asymmetry is quite common and difficult to avoid.

This study focuses on examining asymmetric trust between the government and the private sector in public-private partnership (PPP) projects. Drawing upon both project realities and relevant literature, the primary conditional variables influencing asymmetric trust are identified. These variables encompass power perception asymmetry, information asymmetry, interaction behavior, risk perception differences and government-side control. Subsequently, through the use of a survey questionnaire, binary-matched data from both the government and the private sector are collected. The study employs fuzzy-set qualitative comparative analysis (fsQCA) to conduct a configurational analysis, aiming to investigate the causal pathways that trigger asymmetric trust.

No single conditional variable is a necessary condition for the emergence of trust asymmetry. The pathways leading to a high degree of trust asymmetry can be categorized into two types: those dominated by power perception and those involving a combination of multiple factors. Differences in power perception play a crucial role in the occurrence of high trust asymmetry, yet the influence of other conditional variables in triggering trust asymmetry should not be overlooked.

The findings can contribute to advancing the study of trust relationships in the field of Chinese PPP projects. Furthermore, they hold practical value in facilitating the enhancement of trust relationships between the government and the private sector.

The information used for supervision by regulatory departments in public-private partnership (PPP) projects is primarily transmitted and processed by the PPP implementation department, which negatively impacts the information quality, leading to information asymmetry and undermining the overall effectiveness of supervision. This study aims to explore how to use blockchain to anchor the information used for supervision in PPP projects to the original information, to strengthen the oversight.

This paper adopts the principles of design science research (DSR) to design a conceptual framework that systematically organizes information along the information dissemination chain, ensuring the reliable anchoring of original information. Two-stage interviews involving experts from academia and industry are conducted, serving as formative and summative evaluations to guide the design.

The framework establishes a weak-centralized information organizing mode, including the design of governance community and on-chain and off-chain governance mechanisms. Feedback from experts is collected via interviews and the designed framework is thought to improve information used for supervision. Constructive suggestions are also collected and analyzed for further development.

This paper provides a novel example exploring the inspirations blockchain can bring to project governance, like exercising caution regarding the disorderly expansion of public sector authority in addressing information disadvantages and how to leverage blockchain to achieve this. Technical details conveyed by the framework deepen understanding of how blockchain benefits and the challenges faced in successful implementation for practitioners and policymakers. The targeted evaluation serves as rigorous validation, guiding experts to provide reliable feedback and richer insights by offering them a more cognitively convenient scenario.

The application of circular economy (CE) has received wide coverage in the built environment, including public-private partnership (PPP) infrastructure projects, in recent times. However, current studies and practical implementation of CE are largely associated with construction demolition, waste and recycling management. Few studies exist on circular models and success factors of public infrastructures developed within the PPP contracts. Thus, the main objective of this article is to identify the models and key success factors associated with CE implementation in PPP infrastructure projects.

A systematic review of the literature was undertaken in this study using forty-two (42) peer-reviewed journal articles from Scopus, Web of Science, Google Scholar and PubMed.

The results show that environmental factors, sustainable economic growth, effective stakeholder management, sufficient funding, utilization of low-carbon materials, effective supply chain and procurement strategies facilitate the implementation of CE in PPP infrastructure projects. Key CE business models are centered around the extension of project life cycle value, circular inputs and recycling and reuse of projects.

Although the study presents relevant findings and gaps for further investigations, it has a limited sample size of 42 papers, which is expected to increase as CE gain more prominence in PPP infrastructure management in future.

The findings are relevant for decision-making by PPP practitioners to attain the social, economic and environmental benefits of transitioning to circular infrastructure management.

This study contributes to articulating the key models and measures toward sustainable CE in public infrastructure development.

Recent United Nations Climate Change Conferences recognise extreme climate change of heatwaves, floods and droughts as threatening risks to the resilience and success of public–private partnership (PPP) infrastructure projects. Such conferences together with available project reports and empirical studies recommend project managers and practitioners to adopt smart technologies and develop robust measures to tackle climate risk exposure. Comparatively, artificial intelligence (AI) risk management tools are better to mitigate climate risk, but it has been inadequately explored in the PPP sector. Thus, this study aims to explore the tools and roles of AI in climate risk management of PPP infrastructure projects.

Systematically, this study compiles and analyses 36 peer-reviewed journal articles sourced from Scopus, Web of Science, Google Scholar and PubMed.

The results demonstrate deep learning, building information modelling, robotic automations, remote sensors and fuzzy logic as major key AI-based risk models (tools) for PPP infrastructures. The roles of AI in climate risk management of PPPs include risk detection, analysis, controls and prediction.

For researchers, the findings provide relevant guide for further investigations into AI and climate risks within the PPP research domain.

This article highlights the AI tools in mitigating climate crisis in PPP infrastructure management.

This article provides strong arguments for the utilisation of AI in understanding and managing numerous challenges related to climate change in PPP infrastructure projects.

Early termination of public–private partnerships (PPPs) in China is caused by various risk factors, resulting in significant losses. This study aimed to clarify the key factors and identify the causal relationships among these factors.

Social network analysis (SNA) was used to analyze 37 risk factors that were summarized from 97 early terminated PPP cases and to identify the relationships among these key risk factors. Interpretive structural modeling (ISM) was conducted to explore the causal relationships. Data were collected from case documents, questionnaires and interviews.

A total of 17 key risk factors were identified and distributed in a hierarchical structure with six tiers. Among these key risk factors, the root causes affecting the early termination of PPP projects were government oversight in decision-making, local government transition, policy and law changes and force majeure. The direct cause was insufficient returns. Furthermore, local government and private sector defaults were essential mediating factors. Local government transition and the low willingness of the private sector were highlighted as potential key risks.

The cases and experts were all from China, and outcomes in other countries or cultures may differ from those of this study. Therefore, further studies are required.

This research provides knowledge regarding the key risk factors leading to the early termination of PPP projects and guidance on avoiding these factors and blocking the factors' transmission in the project lifecycle.

This study contributes to the knowledge of risk management by emphasizing the importance of local government transition, the low willingness of the private sector and project cooperation and operation, whose significance is ignored in the existing literature. The proposed ISM clarifies the role of risk factors in causing early termination and explains their transmission patterns.

This study aims to develop an ex-post impact evaluation method for public-private partnership projects (PPP) that addresses one of its main difficulties: the multiplicity of perspectives and stakeholders that exist in these projects.

This study first developed a conceptual evaluation framework called ‘Project Success Evaluation Pyramid Model’ (PSEPM) that was designed using a Design Science approach. Second, an impact evaluation method was designed based on the PSEPM. This evaluation method was tested and refined using three PPP projects. This article presents the refined conceptual model PSEPM, the evaluation method and one of the three tests: the PPP toll road.

The impact evaluation method describes how to evaluate the impact of an existing mega project from the perspective of multiple stakeholders and isolate the impact of the procurement method. Its application in practice is demonstrated with a PPP toll road project in Chile, in which 11 stakeholders were identified. Issues such as city segregation, deficient business model, the relevance of infrastructure availability, and deficient service-fee strategy were identified in the project. The evaluation method provides a judgement about the use of the PPP procurement method and about the overall impact of the project, reconciling the stakeholder perspectives.

The use of this approach could give greater clarity and legitimacy to the discussion over the use of PPPs by evaluating existing projects beyond the use of traditional time and cost measurements. Its originality is the systematic recognition and identification of stakeholder motives, purposes, and judgements over a project.

With the continuous improvement of public–private partnership (PPP) projects, the participants' value creation goals are not only limited to achieving the basic performance objectives but also to realising value added. However, the effect of traditional contract management on realising the value creation objectives of PPP projects is limited. According to the view of multifunctional contract, joint-contract functions that integrate contract control and flexibility are likely to be effective in enhancing the value creation of PPP projects. This study aims to explore the effects of joint-contract functions on PPP project value creation and relevant influencing mechanism by investigating the mediating effect of in-role behaviour and extra-role behaviour.

After collecting 258 valid questionnaires from PPP professionals in China, this study used structural equation modelling to validate the hypotheses.

Contract control and flexibility can improve PPP project value creation. Specifically, contract control improves the achievement of the basic contract objectives of PPP projects, whereas contract flexibility enhances the achievement of the value-added of PPP projects. Moreover, only in-role behaviour mediates the effect of contract control on value creation. In addition, the mediating effect of extra-role behaviour on the impact of contract flexibility on value creation is stronger than that of in-role behaviour. The mediating effect of in- and extra-role behaviour is mainly reflected in the realisation of basic and value-added performance, respectively.

The findings of this study can help realise value creation in three ways. Firstly, new perspectives for PPP project value creation should be proposed by combining the improvement of contract objectives and the realisation of the participants' implicit demands. Secondly, the effects of different contract functions on value creation should be analysed instead of a single dimension of contractual governance. Thirdly, the mediating effects of different types of cooperation behaviour that may influence the relationship between contractual governance and value creation should be evaluated.

This study verifies the impacts of different contract functions on PPP project value creation. In addition, cooperative behaviour is embedded as a mediating variable, and the mediated transmission path from contract function to cooperative behaviour and further to PPP project value creation is systematically analysed.

The risks and uncertainties of public–private partnership (PPP) projects threaten their sustainability. Contract flexibility, which is based on the theory of incomplete contract and transaction cost, may be a viable solution to this issue. The purpose of this study is to investigate the relationship between contract flexibility and the sustainability performance of PPP projects. The multiple mediating roles of justice perception and cooperation efficiency are assessed, thereby allowing the pathways and conditions to be understood more comprehensively for improving the sustainability performance of PPP projects.

Nine hypotheses in the proposed research model are tested via structural equation modeling using data acquired from 218 Chinese PPP professionals.

Results show that contract flexibility positively affects PPP project sustainability performance. Justice perception and cooperation efficiency play direct and sequential mediating roles in this effect.

This study validates that contract flexibility positively impacts the sustainability performance of PPP projects, where justice perception and cooperation efficiency serve direct and sequential mediating roles. The findings of this study contribute to an improved understanding of the effect of contract flexibility on the sustainability performance of PPP projects. Furthermore, they provide important theoretical and practical insights into contract management as well as beneficial information and valuable initiatives for improving the sustainability of PPP projects.

Public-private partnership (PPP) projects for construction waste recycling have become the main approach to construction waste treatment in China. Risk sharing and income distribution of PPP projects play a vital role in achieving project success. This paper is aimed at building a practical and effective risk sharing and income distribution model to achieve win–win situation among different stakeholders, thereby providing a systematic framework for governments to promote construction waste recycling.

Stakeholders of construction waste recycling PPP projects were reclassified according to the stakeholder theory. Best-worst multi–criteria decision-making method and comprehensive fuzzy evaluation method (BWM–FCE) risk assessment model was constructed to optimize the risk assessment of core stakeholders in construction waste recycling PPP projects. Based on the proposed risk evaluation model for construction waste recycling PPP projects, the Shapley value income distribution model was modified in combination with capital investment, contribution and project participation to obtain a more equitable and reasonable income distribution system.

The income distribution model showed that PPP Project Companies gained more transaction benefits, which proved that PPP Project Companies played an important role in the actual operation of PPP projects. The policy change risk, investment and financing risk and income risk were the most important risks and key factors for project success. Therefore, it is of great significance to strengthen the management of PPP Project Companies, and in the process of PPP implementation, the government should focus on preventing the risk of policy changes, investment and financing risks and income risks.

The findings from this study have advanced the application methods of risk sharing and income distribution for PPP projects and further improved PPP project-related theories. It helps to promote and rationalize fairness in construction waste recycling PPP projects and to achieve mutual benefits and win–win situation in risk sharing. It has also provided a reference for resource management of construction waste and laid a solid foundation for long-term development of construction waste resources.

PPP mode is an effective tool for construction waste recycling. How to allocate risks and distribute benefits has become the most important issue of waste recycling PPP projects, and also the key to project success. The originality of this study resides in its provision of a holistic approach of risk allocation and benefit distribution on construction waste PPP projects in China as a developing country. Accordingly, this study adds its value by promoting resource development of construction waste, extending an innovative risk allocation and benefit distribution method in PPP projects, and providing a valuable reference for policymakers and private investors who are planning to invest in PPP projects in China.

The demand for retirement villages globally has been increasing due to the rapid growth in the ageing population in recent years. To address the rising challenges in the retirement market, the public–private partnership (PPP) has become a feasible method to develop retirement villages. This paper aims to survey and examine the key success criteria (SC) for using the PPP approach in the retirement village sector.

An empirical questionnaire survey was conducted with experts experienced in international PPP and retirement village. The analysis was conducted using one-way analysis of variance, mean score analysis, Kendall’s coefficient of concordance and factor analysis.

Results indicate that out of the 16 recognized SC, the most significant ones are SC1: “Affordability”, SC11: “Reduced social isolation of residents” and SC14: “Improvement of emotional wellbeing of residents”. Furthermore, results from the factor analysis technique indicate that the 16 SC can be classified into five major factor groupings, and these include SCG1 – “Financial performance of project”; SCG2 – “Adherence to design and technical specifications”; SCG3 – “Adherence to local council/authority’s environmental health and socio-economic requirements”; SCG4 – “Social inclusion and risk management”; and SCG5 – “Advancement in emotional wellbeing and physical health of residents”.

The study will sufficiently assist retirement village stakeholders, retirement village project participants and related government authorities of the best measures to put in place to maintain the sustainable development of the global retirement village market.