The Decision-making Research Of Construction Corporation As The Investment Subject In PPP Project

In recent years,as the economy gradually descending line,the real estate market got into adjustment period.Affected by this,the speed of construction growth is slowing,and the traditional contracting business is limited.The process of urbanization needs lots of money,which brings the debt of the local government.The strong promotion of PPP mode from the government has stimulated a wider application in China since 2014,which offers a new growth point for construction corporation.However,the PPP approach is still considered immature affected by the legal and economic system,the market level,government management manner and project characteristics.When construction corporation participates a PPP project as the investment subject,it will face a more complex environment and risks.As most of PPP projects are commonweal projects,it will have a more serious consequence than the general construction if the investment makes wrong.So it is very important to build an investment decision-making system and identify the key factors from the perspective of the construction corporation.Based on the content analysis and statistical analysis results,it was found risk allocation,government issue,investment environment,contract management,economic viability,and profitability are the most popular research topic.The existing research of PPP investment decision-making research is mainly about project evaluation,focusing on risk analysis and assessment.Through a case study,the process of PPP investment decision-making is identified when construction corporation participates the PPP project.Then we explored a framework to analysis the factors which influence the investment decision-making process and how they influence the decision.The factors include project related factors,project participants related factors and environmental related factors.This thesis found that the integration of investment and construction is the most important factor when construction corporation participates the PPP project as the investment subject,followed by risk allocation,government ability,construction corporation ability,environmental factors,while the stakeholder's impact is minimal.