Dynamic evolution in public‐private partnerships: The role of key actors in managing multiple stakeholders

This paper seeks to examine the insights that the individual agency perspective offers to the study of public-private partnerships (P3s). It extends prior research, which has primarily adopted an economic and structural perspective, by considering the ways by which individual actors involved in these complex arrangements can shape their evolutionary path. This conceptual paper identifies the key research issues and questions in the P3 literature and highlights how these concerns can be further illuminated by the insights offered through the individual agency perspective. The paper identifies four key issues in the P3 literature questions as the antecedents of P3s, pre-formation processes, governance models and mechanisms, and evolution and adaptation. Introduction of the individual agency perspective to these research concerns highlights additional potentially explanatory factors for P3 formation and successful adaptation. The paper demonstrates that considering this perspective alongside current explanations can extend our current thinking and usefully add depth, breadth and linkage to P3 research. This research challenges the current conceptions of P3 governance as one of choosing the appropriate structural option. It offers agency considerations at each stage in the sequence of P3 process and argues that individual capability and action can influence the success and effectiveness of these arrangements.