基于残值视角的PPP项目特许权期决策研究

发布时间：2018-01-12 03:17

本文关键词：基于残值视角的PPP项目特许权期决策研究　出处：《工业技术经济》2016年03期 　论文类型：期刊论文

【摘要】：PPP模式在我国应用前景广阔,合理的特许权期对PPP项目的成功运作至关重要。本文在已有研究的基础上,根据PPP项目价值的波动规律,将PPP项目价值波动分解为磨损造成的价值下降与维护引起的价值上升两个方面,从项目残值必须符合预期的角度,分析PPP项目的维护投入,进而构建考虑残值的PPP项目特许权期决策模型。研究表明:(1)项目的报废率与建设成本正相关,与经济寿命期负相关;(2)社会资本对PPP项目的维护投入随着运营时间逐渐增加,且与建设成本负相关、与经济寿命期正相关、与特许权期负相关;(3)当社会资本的投资回收速率较低或期望报酬率较高时,政府应制定较长的特许权期;(4)较长的特许权期对社会资本增加建设投资具有激励效果。本研究旨在为政企双方进行合理特许权期的决策提供新的角度与方法。
[Abstract]:The PPP model has a broad application prospect in China, and a reasonable concession period is very important to the successful operation of the PPP project. This paper based on the existing research, according to the fluctuating law of the value of the PPP project. The PPP project value fluctuation is decomposed into two aspects: the value decline caused by wear and the value increase caused by maintenance. From the point of view that the project residual value must accord with the expectation, the maintenance investment of the PPP project is analyzed. Then the decision model of concession period of PPP project considering residual value is constructed. The research shows that the scrapping rate of PPP project is positively related to construction cost and negatively related to economic life. (2) the maintenance investment of social capital to PPP project increases gradually with the operation time, and it is negatively correlated with construction cost, positive correlation with economic life period, and negative correlation with concession period; (3) when the rate of return on investment of social capital is low or the expected rate of return is high, the government should establish a longer concession period; This study aims at providing a new angle and method for both government and enterprise to make a reasonable concession period decision.
【作者单位】：郑州大学;
【基金】：河南省教育厅科学技术重点项目“河南省基础设施PPP项目产品/服务特许价格影响因素分析”(项目编号:13A630734)
【分类号】：F283
【正文快照】： 引言PPP(Public-Private-Partnership),即“政府与社会资本合作”,是政府与社会资本建立的一种基于公共设施项目建设需要的合作伙伴关系。现阶段,我国公共设施供给不足逐渐成为经济发展的瓶颈,在未来,经济要保持平稳增长态势,不可避免地需要加大对公共设施的投资,而以往单独依

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