Study On Integrated Risk Management Of Toll Right Transfer Of Roads

At the present, the transfer of the highway toll righ has more and more problems:the local governmentexamines the transfer right beyond its power；the procedure of transfer does not comply with the rules; thebid of the transfer project is often a formality; transferring the toll right without evaluation or lowerprices.So, the risk of the toll right transfer increases.But the risk management level of the government,enterprises and other sujects can’ match the policy environment, economic environment and socialenvironment.The research of transfer risk management has been imminent. In view of the above problems,this paper analyses the transfer risk, and proposes the integrated management system of toll right transferrisk using integrated management theory.The objective of the study is to improve the effectiveness andefficiency of risk management,and to realize the economic benefit and the social benefit.The thesis mainly includes three parts: the price in the toll right transfer、the transfer risk of the tollright, and the integrated management of the transfer risk.The three parts form an organic whole.The first part analyses the price in the toll right transfer, including the transfer price and the tollprice.The key of the toll right transfer is to determine the transfer price, and the transfer price is the coreposition in the transfer.According to the formation mechanism of the transfer price and the problems of theevaluation, it puts forward the suggestions for improvement.The toll price is also belong to the value streamof the toll road.This chapter analyzes the formation mechanism and the adjustment mechanism of the tollprice. The price in the toll right transfer is the carrier of risk transmission,and analysing the prise isimportant in the analysis of the transfer risk.The second part analyzes the transfer risk of the toll right, including three chapters.(1) It sets forth thetransmission of transfer risk with the transfer price as carrier,and the transfer risk coupling.It analyzes thecharacteristics of the transfer risk, and divides the risk into three stages:the risk before transfer, duringtransfer,and after transfer.And this chapter briefly discusses the risk in the first stage,that mainly takes theform of the enterprise’s decision-making risk and the government’s adverse selection risk.(2) This chapteridentifies the risk in the second stage using the checking table method,and syudies the price risk andcontract risk. It analyzes the risk factor and risk transmission of price risk.On basis of the theory ofimperfect contract and the residual control rights, it analyses the contract risk, and puts forward thedistribution of residual control right to share revenue and risk. (3) Based on identifing risk in the third stage, this chapter analyses the key risk——operation risk,and putsforward to establish the new risk management mechanism to control operation risk.The second part detaileddiscusses the transfer risk, which is the object of risk management. Based on this part, the thesis proposesthe integrated management of transfer risk.The third part is to set up the integrated management system of the transfer risk.First of all, it putsforward the3D conceptual framework of the integrated management system of the transfer risk, and pointsout the necessity and the feasibility of integrated risk management; Secondly, this part constructs theintegrated management model of the transfer risk,and discusses the target system, organization system andinformation system;Thirdly, this part puts forward the price mechanism and the incentive mechanism.The research is for the practice. Hopefully,this thesis will provide a new idea for the transfer riskmanagement of the toll right, improve the effectiveness and efficiency of risk management, and promotethe healthy development of the highway industry.