本文關(guān)鍵詞：PPP項目風(fēng)險控制的自償率機制研究　出處：《北京交通大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 自償率機制 機制設(shè)計理論 PPP項目 風(fēng)險控制

【摘要】：PPP項目是通過政府與私人部門合作,在一套完整的風(fēng)險控制機制下,由私人部門提供公共服務(wù)和產(chǎn)品,政府部門對實施過程進行引導(dǎo)、規(guī)制和監(jiān)督,從而實現(xiàn)項目盈利以及風(fēng)險控制的基礎(chǔ)設(shè)施建設(shè)項目。PPP項目風(fēng)險是指對PPP項目準備、招投標、建設(shè)和運營過程造成不確定影響的信息、財務(wù)和執(zhí)行因素。本文基于機制設(shè)計理論,分析自償率機制在PPP項目風(fēng)險控制中的作用機理,研究自償率機制二項功能與七個手段之間的邏輯關(guān)系,得出PPP項目風(fēng)險控制的自償率機制分析框架。本文結(jié)論:(1)自償率(Self-LiquidationRatio,SLR)是指公共基礎(chǔ)設(shè)施項目累計凈現(xiàn)金流入現(xiàn)值,與項目建設(shè)期累計現(xiàn)金流出現(xiàn)值的比值。(2)自償率機制具有顯示、激勵、實施三項風(fēng)險控制功能。(3)自償率機制包含自償率指標、自償率門檻、公私部門互動評審、考慮外部效益、補貼額度確定、收益和成本"紅線"、評審結(jié)果社會公布七項風(fēng)險控制手段。(4)在PPP項目準備期和招投標前期風(fēng)險控制中自償率機制的作用為顯示,在招投標后期和建設(shè)前期風(fēng)險控制中作用為激勵,在建設(shè)后期和運營期中風(fēng)險控制作用為約束。(5)自償率機制中自償率指標、自償率門檻、公私部門互動評審以及評審結(jié)果社會公布的風(fēng)險控制作用為顯示,考慮外部效益和補貼額度確定的風(fēng)險控制作用為激勵,收益和成本"紅線"的風(fēng)險控制作用為約束。(6)在政府部門決策和私人部門投標風(fēng)險控制中自償率機制的作用為顯示,在政府部門融資和私人部門開發(fā)風(fēng)險控制中的作用為激勵,在政府部門監(jiān)督和私人部門管理運營中風(fēng)險控制中的作用為約束。(7)針對具體的PPP項目,進行有無自償率機制的對比分析,得出無自償率機制時自償率為0.2556,政府補貼額度為項目建設(shè)期總經(jīng)費的50%,補貼后項目資金缺口為建設(shè)經(jīng)費的24.44%;有自償率機制時自償率為0.5969,政府補貼額度為項目建設(shè)期總經(jīng)費的78%,補貼后項目資金盈余為建設(shè)經(jīng)費的37.69%。自償率門檻和補貼額度的確定,使得自償率的提高,政府補貼額度逐漸上升,從而低自償率項目由于資金缺口而難以推進,高自償率項目則具有較大積極性。
[Abstract]:The PPP project is through the cooperation between the government and the private sector, in a complete risk control mechanism, by the private sector to provide public products and services, government guidance, regulation and supervision of the implementation process, so as to achieve the project profitability and risk control of the infrastructure construction project. PPP project risk refers to information, finance and execution factors that cause uncertain impact on the preparation, bidding, construction and operation of PPP projects. Based on mechanism design theory, this paper analyzes the mechanism of self compensation rate in the risk control of PPP project, studies the logical relationship between the two functions of the self compensation rate mechanism and the seven means, and draws the framework of self compensation rate mechanism analysis of PPP project risk control. The conclusion is as follows: (1) self compensation rate (Self-LiquidationRatio, SLR) refers to the ratio of the total net cash inflow of public infrastructure projects to the cumulative cash flow value of project construction period. (2) the self compensation rate mechanism has three risk control functions: display, motivate and implement. (3) self compensation rate mechanism includes self compensation rate index, self compensation threshold, public private sector interaction review, considering external benefits, subsidy quota determination, profit and cost "red line", and evaluation results released by society seven risk control means. (4) in the preparation period of PPP project and the risk control in early bidding stage, the role of self compensation rate mechanism is to show that in the late stage of bidding and early stage of construction, the role of risk control is incentive, which is constrained by risk control in the late construction stage and operation period. (5) self compensation rate of self liquidating ratio index, self liquidating ratio threshold, public-private interaction review and evaluation results of the public to show the effect of risk control mechanism, external benefit and the amount of subsidies to determine the effect of risk control for incentive considerations, the benefits and costs of the "red line" risk control constraint. (6) in the decisions of the government and the private sector in the bidding risk control mechanism for self liquidating ratio shows that in the risk control of government financing and private sector development in the role of motivation in government departments, supervision and management of private sector operation risk control role constraint. (7) according to the PPP project, has no comparative analysis of rate mechanism of self compensation, the compensation rates mechanism of self liquidating ratio is 0.2556, the amount of government subsidies for the project construction period of 50% to 24.44% of the total funding, project funding gap of construction funds subsidies; a self compensation mechanism of self liquidating ratio the rate is 0.5969, the government subsidies for the project construction period of 78% of the total funds, subsidies for the construction of the project funds surplus funds 37.69%. The determination of the threshold of self compensation and the amount of subsidy make the self compensation rate increase and the amount of government subsidy gradually increase, so that the low self compensation rate project is difficult to advance due to the shortage of funds, and the high self compensation rate project has greater enthusiasm.
【學(xué)位授予單位】：北京交通大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F285

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