A Research On Risk Sharing Of Bot Mode Based On Grounded Theory

The BOT(Build-Operate-Transfer)is one of the most important mode of PPP(Public-Private-Partnership)modes.The BOT risk allocation plan for the BOT project development has an important influence.The BOT risk allocation plan has a prominent effect on guiding government and enterprises to maximize the risk averse and deal with the risk in the project life cycle.It is conducive to the rational use of fiscal funds.It is also beneficial for cooperative enterprises to share risk rationally.This research adopts the grounded theory as the basic theory,through consulting and analyzing literatures about domestic and international risk allocation designs.Taking the BOT program of dinosaur geoparks in Zhucheng of Shandong Province as an example,this research designs a rational risk sharing scheme of BOT mode through case studies and questionnaire survey analysis as well as consulting governments,specialists and scholars.This research adopts research method combining qualitative and quantitative analysis,which can achieve win-win between government and social capital,and provides certain reference for other designs of risk sharing in BOT programs.With participant observation,in-depth interviews and literature search method to collect Zhucheng dinosaur park BOT project related information,this research conducts interviews on different subjects,such as the government representatives,implementing agencies,the BOT experts,and quality financial institutions.Then basing on the research steps and methods of grounded theory,it collects data and do coding analyses to explore project risk factors,exploring 70 risk factors and 11 categories for the project.After that,it uses expert voting method to analysis 70 risk factors which will be produced in the period of the project identification,preparation,procurement,implementation,transfer stage.Based on the above,this research completes the construction of risk factor model,establishes the risk sharing scheme of BOT project and puts forward the relevant measures to deal with project risks.