Study On Governance Of Public-Private Partnership Of Large Scale Sports Stadium

Many sports events have been held in the past two decades of 21st century.For example,Chinese government had succeed held the Beijing Olympic Games and the Asian Games.In order to hold sports events,Chinese government has built a lot of sports buildings.As a result,the construction of sports buildings' in China has been pushed in a new stage of rapid development and provides the basic function for the operation of international events.Nowadays,the sports stadiums play an important role of the development of city and become a new growth pole rising the city's economy.However,there are many problems in the sports stadium operation,including high administrative expenditure,great investment quato,long construction period,slow cost recovery,which make the government bear the heavy financial burden and hardly gain profits of operation after games.These factors influence the service quality of public sports.In order to solve the problems mentioned above,the public-private partnership(PPP)proposed.The public-private partnership is a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies.The private party provides a public service or project and assumes substantial financial,technical and operational risk in the project.In China,PPP project have influenced many public services,including the highroad construction,medical treatment,school management.But it is still in an embryonic stage in sports and lack of experience using the PPP project.Based on the existing researches and combined with own characteristics of sports buildings,this paper makes a further research of sports building operations.This paper is mainly about the theory and makes clear with the examples.This paper includes six sectors.The first one introduces the background of research.The second one includes the literature reviews of domestic and foreign research.The third one is about the incomplete contract theory of PPP project.It makes analysis of stakeholders of sports buildings and details of contract governance.It also gives several suggestions for the existing problems.The fourth one makes the math model to analyze.That the cost of investment is an important condition for the stadiums PPP contract,the relationship between the influencing factors of the incentive and constraint mechanism,cost supervision is supervision mechanism,and bargaining power of the project participants determines the project ownership in the distribution.The last one makes conclusion that pick out the disadvantages and shortages of paper.The following conclusions are drawn in this paper.First,the basic condition of the contract is that the additional benefit of stakeholders in the project is greater than the cost of the resource.elements of the investment.In addition,the national stadium construction and operation process by the influence of political factors,economic benefits and public benefits conflict,influence by the excessive government intervention,profitability difficulties.Second,through the analysis of the project process,the lack of stakeholders of the project constraints.Third,by analyzing the cost overrun is the incentive to cause the failure of the National Stadium,the lack of effective supervision and cost control of the National Stadium project.Fourth,the mediation of the contract dispute is subject to the influence of residual ownership and bargaining power,and the government has obvious advantages in the remaining ownership and negotiation power.