Based On The TOT Model, The Financial Decision-making Of The Transferee Of High-grade Highways In Gansu Province

The construction of high-grade highway in Gansu Province has played a good role in promoting the rapid development of commerce,tourism and service industry along the road region.To enhance the efficiency of transportation successfully reduced the transportation cost,which plays an effective role in promoting the transportation of important materials in Gansu Province.Therefore,the government has been vigorously promoting the construction of high-grade highway in Gansu.At the same time,the completion of high-grade highway volume increase significantly which leads some operational highway assets that advanced payment by the government or the ownership recycled in idle condition.By the limit of geography,climate,economic conditions and so on,the huge funds for high-grade highway construction can not be raised,which become the main obstacle of the development of high-grade highway.TOT(Transfer-Operate-Transfer)mode originated in the 1990s,which is a kind of brand-new operational business government investment and financing mode after the BOT mode.In the operation of the TOT mode,there are many factors of costs and benefits influenced because of the large parties involved during the franchise period.All the factors may have a great effect on financial analysis of the project,even lead a big deviation.However,the transferee obtains profits through the way of operating the project.So reviewing and deciding the project is worth to investment or not and how to negotiate with the government to realize own interests largest during the process of agreement is the main focus of the transferee.Combining with the characteristics of the construction and the development plan of high-grade highway and contrasting several kinds of commonly used financing mode,this paper studies the applicability of TOT mode in the high-grade highway in Gansu Province,based on the problem of large funding gap.Then,using correlation theory to study the financial decisions of the transferee,based on excessive factors of transferee financial analysis under TOT mode.By studying the influence of government party,the project company,the project use party and environmental conditions to the transferee of financial decisions,the impact factor structure and the system table of factors have been constituted.At last,with the method of combining qualitative and quantitative decisions,financial decision-making model which belongs to TOT highway project is structured.Then,use the model to analyze an example of transferee financial decision-making of a high-grade highway project in Gansu Province.The research is both took over the project under planned transfer decision-making for the transferee to provide reliable basis,also is to provide some reference to promote new TOT mode widely used in Gansu.