| PPP model has obtained tremendous attention in urban rail transportation projects.Injection of social capital is not only a strong measure for government to solve fund shortage,but also enables to make full use of investor's technology and management experience,turning into value added productivity.While PPP model wasn't introduced in Chinese urban rail transit field for long time,theoretical research about it not mature yet.And Capital structure of PPP projects is not just about project implementation,but also regarding added value.Therefore,a reasonable capital structure is crucial to achieve efficiency and profit maximization.The thesis is worked out based on economical characteristics of urban rail transit,PPP projects' features and its application in urban rail transit project,and related capital structure theory.Then analysis of influencing factors to PPP project capital structure is made in fuzzy MEMATEL,their influence degree,reason and centrality calculated and key factors determined.We analyze the stakeholders and financing features via capital structure.And till this part,we get a clear view of project capital allocation,which helps further build up project ownership structure and liability structure from the point of contract theory and capital cost respectively.And ultimately a reasonable and win-win PPP project capital structure is defined.In the last part of the thesis,we integrate comprehensive Allocation model of capital structure of urban rail transit PPP Project with existing cases and raise up some scientific and reasonable suggestions.The thesis provides a feasible solution and new research point for rational allocation of PPP project capital structure. |
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