商业银行参与PPP项目融资的风险及其路径选择研究

发布时间：2018-03-10 12:45

本文选题：PPP模式　切入点：银行信贷参与　出处：《宁夏大学》2017年硕士论文　论文类型：学位论文

【摘要】：PPP(Public Private Partnerships,公私合营)作为一种新兴的公私合作模式被运用于基础设施项目中,解决传统基础设施建设存在的矛盾,缓解公共部门资金压力、应对长项目周期、提升项目管理效率,及有效应对项目风险,使得公私部门获得了帕累托改进,满足社会对基础设施的需求。PPP模式有着众多的优点,是公共产品提供的一种新途径,但在我国PPP模式尚处于初级的探索阶段,项目需要面对的风险不可忽视,风险的管控与应对是PPP项目实现既定目标的重要保障,需要对项目进行客观的识别、评价与应对,以强化基础设置项目的风险管理水平。本文通过梳理国内外PPP模式的研究文献,提出我国PPP模式与商业银行关系研究不足的现状。其次,以PPP基本概念及理论基础,阐述了 PPP模式的特殊性,从公共物品理论、市场失灵理论和委托——代理理论等三方面奠定理论基础。再次,重点剖析商业银行参与PPP项目的风险因素,提出需要项目本身风险、周期风险、政府信用风险、银行内部风险及政策法律等风险因素。在此基础上,探讨商业银行参与PPP模式的路径选择问题。基于银行信贷角度,从商业银行参与PPP项目融资所产生的风险入手,探讨多种融资工具,诸如投资模式、银行贷款模式,资产证券化等模式,在项目风险应对方面的可行性,拓宽了现有的研究范畴,带来PPP项目融资风险的新视角。最后,总结研究过程,陈述论文的研究结论,探讨银团贷款在PPP项目中的可行性,以期对国内基础设施PPP项目提供新思路。
[Abstract]:As an emerging public-private partnership, PPP(Public Private partnerships have been used in infrastructure projects to resolve contradictions in traditional infrastructure construction, ease public sector funding pressures, cope with long project cycles, and improve project management efficiency. And to deal with the project risks effectively, make the public and private sector get Pareto improvement, meet the needs of the community for infrastructure. PPP model has many advantages, it is a new way to provide public goods. But in our country PPP mode is still in the primary exploration stage, the risk that the project needs to face cannot be ignored, the risk management and control and the response is the important guarantee for the PPP project to realize the established goal, needs to carry on the objective identification, the appraisal and the response to the project. In order to strengthen the risk management level of the basic setup project, this paper, through combing the domestic and foreign research literature of PPP model, points out the current situation of the insufficient research on the relationship between the PPP model and commercial banks in China. Secondly, based on the basic concept and theoretical basis of PPP, This paper expounds the particularity of PPP mode and lays a theoretical foundation from three aspects: public goods theory, market failure theory and principal-agent theory. Thirdly, the paper analyzes the risk factors of commercial banks participating in PPP projects. The risk factors such as project risk, periodic risk, government credit risk, bank internal risk and policy and law are put forward. On this basis, the path selection of commercial banks participating in PPP model is discussed. Starting with the risks caused by commercial banks' participation in PPP project financing, this paper discusses the feasibility of various financing tools, such as investment model, bank loan model, asset securitization and so on. It widens the existing research scope and brings a new perspective of PPP project financing risk. Finally, it summarizes the research process, states the conclusions of the paper, and discusses the feasibility of syndicated loan in PPP project. In order to provide a new idea for the domestic infrastructure PPP project.
【学位授予单位】：宁夏大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F283

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