Research On The Influencing Factors In Concession Price Of Urban Transportation Infrastructure PPP Project Based On SEM

In high-speed development period of China’s urbanization, urban population and urban area of China quickly increase, the most glaring conflict has been between public transport demand and the limited capacity of urban transportation infrastructure. The importance of achieving a broad consensus on the supply of urban transportation infrastructure, Government should also institute feasible policies and measure to encourage social forces and capital investment in the supplies of public infrastructure. Now PPP is the very important method to supply the public infrastructure in China. When the government and Private institutions make decision to establish a PPP project, the concession price of PPP is a core issue of the concession negotiation, it can assure the profit contribution between them. A series of problems will appear during the concessionary duration, such as government policy changes, the risk of insufficient income, which can’t arrive at a fairly reliable forecast. therefore, Research on the influencing factors in concession price of urban transportation infrastructure PPP Project s is a matter of great urgency.Against this background, this paper makes a brief summary on the current status of the researches about PPP and pricing mechanism of urban transportation infrastructure. Methods include comprehensive analysis and literature research method ware used to identify the influencing factors in concession price of urban transportation infrastructure. The influencing factors were divided into seven categories: Government departments, private organizations, social public, political and legal, economic, social market and project self-factors. Secondly, based on list of the influencing factors in concession price of urban transportation infrastructure and research needs, Structural equation model(SEM)is considered as the research method and is used to solve difficult problems. Then, designed questionnaire were filled by Experts scholars and practitioners of PPP. Author use the soft of SPSS 22.0 to do descriptive statistical analysis. Results show that the measuring scale has good internal consistency. Thirdly, SEM has the extensive applicability and practical significance in the research, this paper makes empirical investigation to the influencing factors in concession price of urban transportation infrastructure based on SEM. Exploratory factor analysis, confirmatory factor analysis, model setup, model fitting, model estimation and model evaluation were applied. The SEM results show that path coefficient of government is up to 0.9 which is very obvious, Path coefficient of Macro environmental factors is between 0.8 and 0.9 which is affecting factor of the second level classification. Path coefficient of private sector, public project self-factors is less than 0.7 which is affecting factor of the third level classification. Finally, based on results of SEM, the paper proposes some policy recommendations to strengthen institutional construction for making concession price of urban transportation infrastructure PPP project of according to path coefficient.