Research On The Benefit Risk Formation Mechanism And Compensation Mechanism Of Highway PPP Project

As one of the important part of the modern transportation infrastructure construction areas,the network of highway in our country is also gradually formed,and the highway construction is in the stage of rapid development aiming to promote regional transportation convenience degree,transform the economic development situation and to improve the national quality of life.Highway construction project is the capital and technology intensive projects,based on the highway characteristics and the increasing requirements of the social construction and service,which is difficult to be only supported by government.In recent years the rise of the PPP model can allocate the resources,risks and benefits between the government and private investors,solve the problems of shortage of funds of certain department and lack of human and technology resources fast and efficiently,and build a harmonious and and win-win development situation,so the PPP model can fit well with the highway construction.Besides,so far the key to the sound development of highway PPP project is to properly solve the problem of income risk and compensation problem during project construction operations.This paper collects and analyses all kinds of Chinese and foreign literature,summarizes the current domestic and foreign scholars statement on the advantages,main problems and solutions of the operation of PPP model in the construction of the project,thus proposed the views of the paper.Then,this paper introduces the highway PPP project quasi public product theory and externality theory and further analyses the characteristics of the highway PPP project and its classification and the relationship between stakeholders.Then on the basis of predecessors' description of project risk study,this paper researches the highway PPP project risk,and determine the highway PPP project benefit risk factors through summary of literature,questionnaire survey,data collection,and chi-square test;Next this paper studies the benefit risk transmission path,map benefits risk dynamics,and analyses the relationship between level of benefits risk,thus establishing the ISM model of highway PPP project and elaborates the formation mechanism of benefit risk.Next based on the income risk,the highway PPP compensation mechanism is discussed.This paper analyzes the externality,the necessity and feasibility of compensation,stresses the importance of compensation mechanism.Then through theoretical analysis and questionnaire data summary,this paper studies the compensation subject,compensation object,the imputation object and impact.Next,this paper discusses the compensation model for benefits risk,determines the compensation standard on the basis of the net present value theory,designs the calculation formula of the corresponding and the compensation model,and improves the benefits risk compensation mechanism of the highway PPP project.Finally,through a domestic case and a foreign case of income risk,this paper proposes suggestions on the compensation based on the compensation models studied.