本文關(guān)鍵詞： 高速公路 BOT項(xiàng)目 項(xiàng)目公司 特許經(jīng)營(yíng) 投資風(fēng)險(xiǎn) 不確定性　出處：《長(zhǎng)安大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：按照黨中央、國(guó)務(wù)院的政策引導(dǎo)，民間投資者進(jìn)入高速公路建設(shè)領(lǐng)域所關(guān)注的主要問(wèn)題是：投資高速公路BOT項(xiàng)目會(huì)涉及哪些投資風(fēng)險(xiǎn)？如何防范和應(yīng)對(duì)這些風(fēng)險(xiǎn)才有助于實(shí)現(xiàn)投資者預(yù)期的投資目標(biāo)？ 現(xiàn)代管理會(huì)計(jì)學(xué)中的投資決策理論對(duì)高速公路BOT項(xiàng)目投資決策有重要的理論指導(dǎo)作用。投資者應(yīng)當(dāng)依據(jù)其理論并結(jié)合高速公路特許經(jīng)營(yíng)的特點(diǎn)，認(rèn)真分析和論證投資風(fēng)險(xiǎn)的表現(xiàn)形式及其產(chǎn)生原因，并在此基礎(chǔ)上提出解決問(wèn)題的對(duì)策措施。 本文關(guān)注的投資風(fēng)險(xiǎn)包括經(jīng)營(yíng)不確定性導(dǎo)致的投資風(fēng)險(xiǎn)和政策不確定性導(dǎo)致的投資風(fēng)險(xiǎn)。針對(duì)高速公路BOT項(xiàng)目的特點(diǎn)，經(jīng)營(yíng)不確定性可具體現(xiàn)在建設(shè)周期拖延的風(fēng)險(xiǎn)、建設(shè)成本超概算的風(fēng)險(xiǎn)以及未來(lái)收費(fèi)交通量不確定的風(fēng)險(xiǎn)；政策變動(dòng)的風(fēng)險(xiǎn)主要體現(xiàn)為收費(fèi)政策變動(dòng)的風(fēng)險(xiǎn)以及提前終止特許經(jīng)營(yíng)合同的風(fēng)險(xiǎn)。其中，政策變動(dòng)導(dǎo)致的風(fēng)險(xiǎn)及其應(yīng)對(duì)是本文關(guān)注的重點(diǎn)和難點(diǎn)問(wèn)題。 針對(duì)經(jīng)營(yíng)不確定的風(fēng)險(xiǎn)，在有效控制建設(shè)成本的基礎(chǔ)上項(xiàng)目公司應(yīng)主要根據(jù)風(fēng)險(xiǎn)與收益的關(guān)系采取必要的防范措施；針對(duì)政策不確定的風(fēng)險(xiǎn)，應(yīng)當(dāng)主要采取完善特許經(jīng)營(yíng)合同內(nèi)容的方式予以應(yīng)對(duì)。首先，有必要參照西方國(guó)家的成功經(jīng)驗(yàn)在特許經(jīng)營(yíng)合同中約定收費(fèi)標(biāo)準(zhǔn)的調(diào)整機(jī)制；其次，明確由于政府方面的原因?qū)е绿崆敖K止合同經(jīng)營(yíng)合同，需要給予項(xiàng)目公司合理經(jīng)濟(jì)補(bǔ)償。 本文涉及多方面政策性的討論。這方面的討論還有待于進(jìn)一步深入，，才有助于達(dá)成共識(shí)。
[Abstract]:According to the policy guidance of the CPC Central Committee and the State Council, the main problems concerned by private investors in the field of highway construction are: what investment risks will be involved in investing in expressway BOT projects? How to prevent and deal with these risks in order to achieve investors' expected investment objectives? The investment decision theory in modern management accounting plays an important role in guiding the investment decision of expressway BOT project. This paper analyzes and proves the manifestation of investment risk and its causes, and puts forward the countermeasures to solve the problem. This paper focuses on the investment risk caused by the operating uncertainty and the investment risk caused by the policy uncertainty. According to the characteristics of the expressway BOT project, the operating uncertainty can be specified as the risk of delay in the present construction cycle. The risk of construction cost exceeding the estimate and the risk of uncertainty of future toll and traffic volume; the risk of policy change is mainly reflected in the risk of fee policy change and the risk of termination of franchise contract in advance. The risk caused by policy change and its countermeasures are the focus and difficulty of this paper. In view of the uncertain risk of operation, the project company should take necessary preventive measures according to the relationship between risk and income on the basis of effective control of construction cost, and aim at the risk of uncertain policy, First of all, it is necessary to refer to the successful experience of western countries to agree on the adjustment mechanism of fee standard in franchise contract. It is clear that the project company should be given reasonable economic compensation for the early termination of the contract due to government reasons. This paper involves a wide range of policy discussions, which need to be further explored in order to help reach consensus.
【學(xué)位授予單位】：長(zhǎng)安大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F542;F285

【引證文獻(xiàn)】

相關(guān)碩士學(xué)位論文 前3條

1 林艾;B市交通投資集團(tuán)PPP融資模式運(yùn)用研究[D];安徽大學(xué);2016年

2 劉春梅;LJ公路BOT項(xiàng)目風(fēng)險(xiǎn)控制研究[D];吉林大學(xué);2016年

3 朱清蕓;青島董家口港BOT融資模式的風(fēng)險(xiǎn)研究[D];青島理工大學(xué);2015年

本文編號(hào)：1502503