Demirag, Istemi (2015) A changing market for PFI financing: Evidence from the financiers. Accounting Forum, 39 (3). pp. 187-200.

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Abstract

Responses to a questionnaire survey received from PFI financiers, and interviews with senior managers, show that as the credit crunch took hold banks became more risk averse. The prediction of Toms et al. that collusion between the state and the private sector might cease in the face of austerity does not appear to have occurred. Rather the state has intervened to benefit the private sector. We argue that two successive UK Governments intervened in the market to protect the role of private finance in PFIs but whether such interventions represent value for taxpayers’ money is a question for future research.

Item Type: Article
Uncontrolled Keywords: PFI financing, Credit crunch, Financiers, Risk transfer, UK
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Humanities and Social Sciences > Keele Management School
Depositing User: Symplectic
Date Deposited: 23 Sep 2015 10:55
Last Modified: 24 Apr 2019 09:13
URI: http://eprints.keele.ac.uk/id/eprint/946

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