Abstract
Scholars have extensively investigated public value creation and appropriation concerning public services delivered strictly by the government and public–private arrangements, such as public–private partnerships (PPPs). However, such studies often focus on value for money and economic performance criteria. This study examines how public value can be created and appropriated in PPP settings and how public value mechanisms can influence these phenomena. Considering that the literature lacks an integrated and structured analytical framework to assess such phenomena, this conceptual article addresses four mainstream PPP topics regarding public value mechanisms (information sharing, public and private capabilities, risk governance, and stakeholder orientation), which can be associated with PPPs’ public value creation (destruction) and appropriation (misappropriation). Thus, this article highlights a need to evaluate PPPs in terms of public value creation beyond the economic performance criteria and fills the literature gap by proposing a public value creation and appropriation framework.