An approach for evaluating the risk management role of governments in public private partnerships for mega-event stadiums

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dc.contributor.authorSANDRO CABRAL
dc.contributor.authorSilva Jr, Antonio Francisco
dc.coverage.cidadeNão informadopt_BR
dc.coverage.paisNão Informadopt_BR
dc.creatorSilva Jr, Antonio Francisco
dc.date.accessioned2022-10-19T23:48:38Z
dc.date.available2022-10-19T23:48:38Z
dc.date.issued2013
dc.description.otherAlthough public investment is often seen as a necessary source of funding for major sporting event facilities, the degree of government involvement remains a controversial issue. This paper proposes an approach that minimizes government investments, without deterring the interest of private investors, in building/ refurbishing stadiums for mega-events. Using the FIFAWorld Cup as an example, we concentrate our attention on demand risks, i.e., the risks related to attendance at matches. In order to deal with the risk-return trade-off, we build a model based on real options theory, which allows us to evaluate the size of the incentive the private entrepreneurs need to invest in a Public Private Partnership (PPP) setting. Our main findings indicate that ancillary investments near the stadiums are essential to mitigate risks and that the coordination of a central government may reduce the capital required for risk management when several stadiums need to be built in a short time frame. Our results suggest that government should evaluate some infrastructure PPP projects as a portfolio of investments, instead of looking at opportunities only in a single-project basis.pt_BR
dc.format.extentp. 472-490pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.doihttp://dx.doi.org/10.1080/16184742.2013.811607pt_BR
dc.identifier.issue4pt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/4340
dc.identifier.volume13pt_BR
dc.language.isoInglêspt_BR
dc.publisherTaylor & Francis Grouppt_BR
dc.relation.ispartofEuropean Sport Management Quarterlypt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITOR.pt_BR
dc.subject.keywordsPPPpt_BR
dc.subject.keywordsDemand riskpt_BR
dc.subject.keywordsFootball stadiumpt_BR
dc.subject.keywordsMajor sporting eventspt_BR
dc.titleAn approach for evaluating the risk management role of governments in public private partnerships for mega-event stadiumspt_BR
dc.typejournal article
dspace.entity.typePublication
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeArtigo Científicopt_BR
relation.isAuthorOfPublication76c81ecd-5a8e-48de-9d12-b62cebc2e626
relation.isAuthorOfPublication.latestForDiscovery76c81ecd-5a8e-48de-9d12-b62cebc2e626
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