Modeling
Seydehsima Rasouli; Amir Mehboob Lotfkar
Abstract
Attracting private sector investment is one of the basic solutions for sustainable urban development and providing the financial resources needed by municipalities. Given the limited government financial resources and the increasing urban needs, private sector participation in urban development and service ...
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Attracting private sector investment is one of the basic solutions for sustainable urban development and providing the financial resources needed by municipalities. Given the limited government financial resources and the increasing urban needs, private sector participation in urban development and service projects is essential. This research was conducted with the aim of evaluating the failure of municipalities to attract private sector investors. The present research is an applied-exploratory study that was conducted with a two-step survey strategy of fuzzy Delphi and structural equation modeling. The statistical population in the fuzzy Delphi section was academic experts, senior managers of municipalities, and private sector investors, 30 of whom were selected using purposive sampling. In the quantitative section, 148 senior managers of West Tehran Municipality and private sector investors were selected using simple random sampling method based on GPower software. The data collection tool was a researcher-made questionnaire based on the findings of the fuzzy Delphi. The data obtained from the questionnaire were analyzed using SmartPLS software. According to the findings of the Fuzzy Delphi, the failure of municipalities to attract private sector investors includes 6 main obstacles: political-governmental weaknesses, legal-supervisory weaknesses, weaknesses in the economic structure, conflicts between the public and private sectors, weaknesses in the management structure of municipalities, and weaknesses in the administrative structure of municipalities. The results also indicate that the identified obstacles are well-matched. According to the findings of this section, the weaknesses of the economic structure have the highest factor load, followed by the factor of conflicts between the public and private sectors. The findings of this study help managers and policymakers in reducing the factors that prevent municipalities from attracting private sector investors.
