The Research Of BT Mode’s Benefits And Risks

Since the 21st century, the rapid development of national economy in our country, with the accelerating urbanization process, massive infrastructure and public utilities, which is the basis for people’s livelihood, such as urban public facilities are in urgent need of construction, the government fiscal facing huge pressure, BT investment and financing mode under the background of such application, introducing private capital into urban infrastructure and public utilities, already broke the government financing bottleneck, and enrich the enterprise investment way.Paper according to the above problem, using the sum up, the method of combining the theoretical analysis and logical reasoning, mainly for the following research:first of all, from the perspective of investors according to the project operation stage project of common risk analysis of BT mode, and based on this, the method of using fuzzy comprehensive evaluation, constructs the mode of BT project risk evaluation model; Second, the article takes advantage of the many style function to build a risk-free yield curve, to determine the investment mode of BT project benefits. After using the method of theory combining with an instance, analyzes the changchun first phase of the metro line 2, size of BT project risk and investment returns. Analysis results show that the first phase of the changchun subway line 2 BT project overall risk is lesser, should focus on construction risk prevention in the secondary indexes, followed by repurchase risk and financing risk. From the perspective of the investment income investors to invest in the project profit is low, but from the Angle of utility maximization, Analysis results show that the first phase of the changchun subway line 2 BT project overall risk is lesser, should focus on construction risk prevention in the secondary indexes, followed by repurchase risk and financing risk. From the perspective of the investment income investors to invest in the project profit is low, but from the Angle of utility maximization, investment in the project overall greater utility.