Is There a Relationship between Public–Private Partnerships and Corporate Governance and Corporate Social Responsibility?

Abstract

This paper examines the relationship between Public–Private Partnerships (PPPs) and two corporate constructs: Corporate Governance (CG) and Corporate Social Responsibility (CSR). Drawing on a cross-disciplinary literature review of PPP theory, governance studies, CSR practice, and case-based empirical work, the article develops a conceptual model that links PPP design and governance arrangements to corporate governance incentives and CSR outcomes. The evidence suggests a two-way, conditional relationship: (1) PPPs affect corporate governance by creating new accountability channels, altering risk-sharing and incentive structures, and exposing firms to public-sector stewardship and political scrutiny; and (2) PPPs influence CSR by mainstreaming social and environmental objectives into corporate project delivery, while CSR norms and practices shape how firms participate in PPPs (through reputational assets, stakeholder engagement, and compliance). However, the relationship is neither automatic nor uniformly positive — institutional context, contract design, regulatory oversight, and civil-society capacity mediate outcomes. The paper concludes with a research agenda and policy recommendations for aligning PPPs, robust corporate governance, and credible CSR to deliver sustainable public value.