Aiming at the public sector and the private sector in PPP projects as the research objects, the two core participants investment decision model is established by using option game thinking. First, based on the option ...Aiming at the public sector and the private sector in PPP projects as the research objects, the two core participants investment decision model is established by using option game thinking. First, based on the option game features PPP projects have, the paper proposes some research hypotheses on value, income, cost for the option. Second, on the basis of the decision path of a multi-stage binary tree model, respectively for the public sector and the private sector, the paper builds up utility functions, the cost-input model and the contract decision model. It indicates that by the use of growth options in the shortened contract period, the private sector can still ensure the construction quality of the PPP project. Finally, the validity of the model in the PPP project agreement and the investment decision process is verified by the case analysis.展开更多
The digital economy has become an important driving force for the growth of fiscal revenue in various countries.Tax planning is essential for the cost accounting of PPP projects,reducing corporate tax burdens,and incr...The digital economy has become an important driving force for the growth of fiscal revenue in various countries.Tax planning is essential for the cost accounting of PPP projects,reducing corporate tax burdens,and increasing company value.This paper adopts a case analysis method,taking the smart highway PPP project in Guizhou Province as an example.Through statistical analysis,it is found that the value-for-money and big data of the PPP project affects tax planning,the project’s value-added tax input and output items have time mismatches,and enterprises Income tax payment imbalance.In the context of the digital economy,the tax planning of China’s PPP projects can be further improved:digital transformation and big data to prevent tax risks caused by value for money evaluation;based on digital technology to improve the value-added tax deduction chain,and digital communication platforms to alleviate time mismatch of value-added tax;use big data to monitor and balance project portfolio investment;improve the level of digital skills of financial personnel.展开更多
According to the comprehensive information platform of the Ministry of finance, by the end of November 2020, since 2014, there have been 9954 warehousing projects with an investment of 15.3 trillion yuan, 6920 contrac...According to the comprehensive information platform of the Ministry of finance, by the end of November 2020, since 2014, there have been 9954 warehousing projects with an investment of 15.3 trillion yuan, 6920 contracted landing projects with an investment of 11.0 trillion yuan, with a landing rate of 69.5%, and 4188 construction projects with an investment of 6.4 trillion yuan, with an operating rate of 60.5%.With the gradual construction of PPP projects, a large number of PPP projects will enter the operation period, and investors will have exit demand for different reasons. This paper discusses the reasons, ways, policies and problems of social capital exit of PPP projects.展开更多
Reverse auctions of PPP projects usually require the bid to specify several characteristics of quality and the concession period to be fulfilled. This paper sets up a summary function of generalized quality, which con...Reverse auctions of PPP projects usually require the bid to specify several characteristics of quality and the concession period to be fulfilled. This paper sets up a summary function of generalized quality, which contributes to reducing the dimensions of information.Thus, the multidimensional reverse auction model of a PPP project can be replaced by a two-dimensional direct mechanism based on the concession period and the generalized quality. Based on the theory of the revelation principle, the feasibility conditions, equilibrium solution and generalized quality requirements of such a mechanism,considering the influence of a variable investment structure are described. Moreover, two feasible multidimensional reverse auctions for implementing such a direct mechanism: Adjusting the scoring function and establishing a special reverse auction rule are built. The analysis shows that in these types of reverse auctions, optimal allocation can be achieved, the social benefit under the incomplete information will be maximized, and the private sector with the highest integrated management level wins the bid. In such a direct mechanism, the investment and financial pressure of the public sector can be reduced.展开更多
In recent years,with the global environmental pollution becoming more and more serious,and the widespread application of PPP model in various fields,PPP model provides a new solution for environmental governance.Howev...In recent years,with the global environmental pollution becoming more and more serious,and the widespread application of PPP model in various fields,PPP model provides a new solution for environmental governance.However,due to environmental management of PPP projects in practice by various factors,such as the lack of social value,organizational management confusion and consultation communication is not in place cause group events,resulting in the failure of the PPP project,and a large number of economic losses.Therefore,the objective of this paper is to ensure the smooth implementation of environmental management of PPP projects,to reduce the risk to avoid failure.The research methods adopted in this study include literature review and case analysis,based on the theory of environmental governance PPP,select 15 failure cases analysis failure reasons,identify environmental management PPP project’s 18 failure factors,starting from the government to enterprises.The index is divided into three dimensions:social system,organization and management,public behavior,and determination of failure measure index system.Based on the theory of the open matter,the failure measure model is established,and the failure factor index is measured and analyzed.The degree of failure of the project is clarified and the PPP project is analyzed by a sewage treatment to verify the reasonable model of the failure measure model.The feasibility of the future of environmental management PPP project failure risk provides a practical tool.展开更多
China’s public participation in environmental governance PPP projects has become a hot research issue.Based on the CiteSpace software,taking 1592 literatures collected by CNKI from 2000 to 2021 as samples,the paper v...China’s public participation in environmental governance PPP projects has become a hot research issue.Based on the CiteSpace software,taking 1592 literatures collected by CNKI from 2000 to 2021 as samples,the paper visually analyzes the literature timing,author distribution,institutional distribution,hot topics and evolution trends of Chinese public participation in environmental governance PPP project.After 20 years of development,the research focus of China’s public participation in environmental governance PPP project involves rural environmental governance,environmental diversification governance,regional environmental governance and environmental governance value-driven,and shows endogenous implicit drive and endogenous explicit drive.The multi-spiral characteristics of China’s public participation in environmental governance PPP coexist with endogenous implicit obstacles and exogenous implicit obstacles.展开更多
China has become the world's largest PPP market. Over the past few years, the development of the PPP industry has been on a roller coaster, first rushing up and then stopping abruptly. Today, the situation has imp...China has become the world's largest PPP market. Over the past few years, the development of the PPP industry has been on a roller coaster, first rushing up and then stopping abruptly. Today, the situation has improved and the "Standardized and Orderly Promotion of Cooperation between Government and Social Capital (PPP)" has been included in the "14th Five-Year Plan" and the long-term target for 2035. The advantage of PPP is to enable partners to achieve more favorable results than expected by acting alone: less government spending and less investment risk for enterprises. This paper analyzes the investment and financing management strategies of PPP projects from the perspective of investors for reference.展开更多
The most indispensable branch in the ecosystem is the water environment, whose high-quality development directly affects the stability of the whole ecosystem. With the official release of "Action Plan for Water P...The most indispensable branch in the ecosystem is the water environment, whose high-quality development directly affects the stability of the whole ecosystem. With the official release of "Action Plan for Water Pollution Prevention" in our country, the comprehensive management of water environment in our country has a long way to go. The comprehensive improvement of water environment is of typical public welfare. In the past, the government was the core. Under normal circumstances, the government faced huge financial pressure, and the single government management reduced the efficiency of project implementation. PPP model is a new way to deal with this problem. In this environment, the government and the society can jointly create a "benefit sharing and risk sharing" consortium to reduce the amount of funds invested by the government in a short period of time. At the same time, the special technical advantages of social capital can be brought into play to speed up the operation of the project. Since 2018, the Ministry of Finance and the National Development and Reform Commission have implemented a large-scale project library clean-up and rectification action. The increasingly strict warehousing review and dynamic supervision of the whole process have become the main theme of PPP project management, thus promoting the return of PPP to rationality and normality. Performance evaluation is an indispensable key part of the whole process of standardized management of PPP projects. This paper combines the characteristics of the water environment comprehensive management PPP project and the interests needs of all participants in the project, constructs the performance evaluation system of the PPP project, and makes a reasonable evaluation of the project performance with examples, which lays a theoretical foundation for the water environment comprehensive management PPP project to serve the society effectively.展开更多
At present, with the rapid development of society and the gradual improvement of economic level, there are fewer and fewer traditional construction projects, and many projects are implemented in the form of PPP, which...At present, with the rapid development of society and the gradual improvement of economic level, there are fewer and fewer traditional construction projects, and many projects are implemented in the form of PPP, which is also a symbol of the continuous development of society. However, many state-owned construction enterprises do not realize the importance of PPP projects in the investment process, and focus a lot of energy on the traditional investment and financing model. The lack of experience in PPP projects and the lack of understanding of project operation have resulted in the poor quality of successful projects and the inability to carry out follow-up work, affecting the development of state-owned enterprises. This paper specifically analyzes and studies the investment and financing management strategies of PPP projects of construction enterprises for reference.展开更多
As a new means of cooperation, PPP model can break the time and space restrictions, effectively promote the diversified development of investors, and has the characteristics of wide application range, which can provid...As a new means of cooperation, PPP model can break the time and space restrictions, effectively promote the diversified development of investors, and has the characteristics of wide application range, which can provide more diversified investment and financing channels for infrastructure construction projects. PPP project model plays a vital role in the construction process of public service facilities in China. Taking the meaning, characteristics and advantages of PPP model as the starting point, this paper analyzes the types of financial risks of enterprises in PPP projects and the problems in financial risk management, and puts forward some targeted avoidance measures.展开更多
文摘Aiming at the public sector and the private sector in PPP projects as the research objects, the two core participants investment decision model is established by using option game thinking. First, based on the option game features PPP projects have, the paper proposes some research hypotheses on value, income, cost for the option. Second, on the basis of the decision path of a multi-stage binary tree model, respectively for the public sector and the private sector, the paper builds up utility functions, the cost-input model and the contract decision model. It indicates that by the use of growth options in the shortened contract period, the private sector can still ensure the construction quality of the PPP project. Finally, the validity of the model in the PPP project agreement and the investment decision process is verified by the case analysis.
基金This paper is based on a research project financially supported by“Research on Cultivation of Big Data Thinking and Application Ability of University Undergraduates:Based on the Perspective of Digital Economy(GZJG20200203)”supported by Guizhou University of Finance and Economics“Teaching Quality and Teaching Reform Project(2019)”,entitled“Research on Teaching Reform of Property Insurance Courses under the Background of Big Data(2019JGZZC07)”supported by“Research on Legal Risks of Multinational Financial Leasing:Based on the‘One Belt One Road’Initiative(HB19FX022)”.
文摘The digital economy has become an important driving force for the growth of fiscal revenue in various countries.Tax planning is essential for the cost accounting of PPP projects,reducing corporate tax burdens,and increasing company value.This paper adopts a case analysis method,taking the smart highway PPP project in Guizhou Province as an example.Through statistical analysis,it is found that the value-for-money and big data of the PPP project affects tax planning,the project’s value-added tax input and output items have time mismatches,and enterprises Income tax payment imbalance.In the context of the digital economy,the tax planning of China’s PPP projects can be further improved:digital transformation and big data to prevent tax risks caused by value for money evaluation;based on digital technology to improve the value-added tax deduction chain,and digital communication platforms to alleviate time mismatch of value-added tax;use big data to monitor and balance project portfolio investment;improve the level of digital skills of financial personnel.
文摘According to the comprehensive information platform of the Ministry of finance, by the end of November 2020, since 2014, there have been 9954 warehousing projects with an investment of 15.3 trillion yuan, 6920 contracted landing projects with an investment of 11.0 trillion yuan, with a landing rate of 69.5%, and 4188 construction projects with an investment of 6.4 trillion yuan, with an operating rate of 60.5%.With the gradual construction of PPP projects, a large number of PPP projects will enter the operation period, and investors will have exit demand for different reasons. This paper discusses the reasons, ways, policies and problems of social capital exit of PPP projects.
基金supported by the National Natural Science Foundation of China (Grant Nos. 71231007 and 71373222)
文摘Reverse auctions of PPP projects usually require the bid to specify several characteristics of quality and the concession period to be fulfilled. This paper sets up a summary function of generalized quality, which contributes to reducing the dimensions of information.Thus, the multidimensional reverse auction model of a PPP project can be replaced by a two-dimensional direct mechanism based on the concession period and the generalized quality. Based on the theory of the revelation principle, the feasibility conditions, equilibrium solution and generalized quality requirements of such a mechanism,considering the influence of a variable investment structure are described. Moreover, two feasible multidimensional reverse auctions for implementing such a direct mechanism: Adjusting the scoring function and establishing a special reverse auction rule are built. The analysis shows that in these types of reverse auctions, optimal allocation can be achieved, the social benefit under the incomplete information will be maximized, and the private sector with the highest integrated management level wins the bid. In such a direct mechanism, the investment and financial pressure of the public sector can be reduced.
文摘In recent years,with the global environmental pollution becoming more and more serious,and the widespread application of PPP model in various fields,PPP model provides a new solution for environmental governance.However,due to environmental management of PPP projects in practice by various factors,such as the lack of social value,organizational management confusion and consultation communication is not in place cause group events,resulting in the failure of the PPP project,and a large number of economic losses.Therefore,the objective of this paper is to ensure the smooth implementation of environmental management of PPP projects,to reduce the risk to avoid failure.The research methods adopted in this study include literature review and case analysis,based on the theory of environmental governance PPP,select 15 failure cases analysis failure reasons,identify environmental management PPP project’s 18 failure factors,starting from the government to enterprises.The index is divided into three dimensions:social system,organization and management,public behavior,and determination of failure measure index system.Based on the theory of the open matter,the failure measure model is established,and the failure factor index is measured and analyzed.The degree of failure of the project is clarified and the PPP project is analyzed by a sewage treatment to verify the reasonable model of the failure measure model.The feasibility of the future of environmental management PPP project failure risk provides a practical tool.
文摘China’s public participation in environmental governance PPP projects has become a hot research issue.Based on the CiteSpace software,taking 1592 literatures collected by CNKI from 2000 to 2021 as samples,the paper visually analyzes the literature timing,author distribution,institutional distribution,hot topics and evolution trends of Chinese public participation in environmental governance PPP project.After 20 years of development,the research focus of China’s public participation in environmental governance PPP project involves rural environmental governance,environmental diversification governance,regional environmental governance and environmental governance value-driven,and shows endogenous implicit drive and endogenous explicit drive.The multi-spiral characteristics of China’s public participation in environmental governance PPP coexist with endogenous implicit obstacles and exogenous implicit obstacles.
文摘China has become the world's largest PPP market. Over the past few years, the development of the PPP industry has been on a roller coaster, first rushing up and then stopping abruptly. Today, the situation has improved and the "Standardized and Orderly Promotion of Cooperation between Government and Social Capital (PPP)" has been included in the "14th Five-Year Plan" and the long-term target for 2035. The advantage of PPP is to enable partners to achieve more favorable results than expected by acting alone: less government spending and less investment risk for enterprises. This paper analyzes the investment and financing management strategies of PPP projects from the perspective of investors for reference.
文摘The most indispensable branch in the ecosystem is the water environment, whose high-quality development directly affects the stability of the whole ecosystem. With the official release of "Action Plan for Water Pollution Prevention" in our country, the comprehensive management of water environment in our country has a long way to go. The comprehensive improvement of water environment is of typical public welfare. In the past, the government was the core. Under normal circumstances, the government faced huge financial pressure, and the single government management reduced the efficiency of project implementation. PPP model is a new way to deal with this problem. In this environment, the government and the society can jointly create a "benefit sharing and risk sharing" consortium to reduce the amount of funds invested by the government in a short period of time. At the same time, the special technical advantages of social capital can be brought into play to speed up the operation of the project. Since 2018, the Ministry of Finance and the National Development and Reform Commission have implemented a large-scale project library clean-up and rectification action. The increasingly strict warehousing review and dynamic supervision of the whole process have become the main theme of PPP project management, thus promoting the return of PPP to rationality and normality. Performance evaluation is an indispensable key part of the whole process of standardized management of PPP projects. This paper combines the characteristics of the water environment comprehensive management PPP project and the interests needs of all participants in the project, constructs the performance evaluation system of the PPP project, and makes a reasonable evaluation of the project performance with examples, which lays a theoretical foundation for the water environment comprehensive management PPP project to serve the society effectively.
文摘At present, with the rapid development of society and the gradual improvement of economic level, there are fewer and fewer traditional construction projects, and many projects are implemented in the form of PPP, which is also a symbol of the continuous development of society. However, many state-owned construction enterprises do not realize the importance of PPP projects in the investment process, and focus a lot of energy on the traditional investment and financing model. The lack of experience in PPP projects and the lack of understanding of project operation have resulted in the poor quality of successful projects and the inability to carry out follow-up work, affecting the development of state-owned enterprises. This paper specifically analyzes and studies the investment and financing management strategies of PPP projects of construction enterprises for reference.
文摘As a new means of cooperation, PPP model can break the time and space restrictions, effectively promote the diversified development of investors, and has the characteristics of wide application range, which can provide more diversified investment and financing channels for infrastructure construction projects. PPP project model plays a vital role in the construction process of public service facilities in China. Taking the meaning, characteristics and advantages of PPP model as the starting point, this paper analyzes the types of financial risks of enterprises in PPP projects and the problems in financial risk management, and puts forward some targeted avoidance measures.
