The Research On The PPP Project Operation Efficiency In The X Company's Environmental PPP Project

The model of PPP is extremely popular in the world since it appears and it becomes a kind of common model in many major projects.In this research,most of scholars pay more attention in the single angle.In contrast,fewer scholars study the PPP project's operation as a whole.In the meantime,the research concerning the financial perspective is exiguity.The research of this paper focus on the financial perspective in the environmental protection PPP project.The research makes full use of the financial data Through the X company's PPP project aims to find this kind of PPP project's operation efficiency.It is important that this research may supplies a kind of method for how to evaluate the efficiency of a PPP project.In the research,scholar uses three kinds of financial indicators such as internal rate of return(IRR)and net present value(NPV)and investment recovery period(IRP).The research methods consist of comparative analysis method and linear regression method and expert evaluation method and questionnaire method.The research embodies the operation efficiency in three indicators such as government subsidy model and income distribution model and franchise cycle.The research starts in using different model of govermment subsidies and different franchise cycle and different income distributions.The government subsidy embodies into three kinds such as asset availability subsidy and performance subsidy and cash flow gap subsidy and shadow fares subsidy,and the income distribution model embodies risk income distribution model and stakeholder distribution model.In research of franchise cycle,researcher using the IRR and NPV and IRP indicators to finding out the better franchise cycle.Finally,the researcher analysis the influence factors through three financial indicators and using simplified scoring system to find out the better operation model.The model of this research has 15 models.The conclusion of this research is the better operation model which can be summarized as:shadow fares subsidy or asset availability subsidy and in the 30 year's franchise cycle and adopting stakeholder distribution is a kind of better operation model for X company.The research also studies the advantages and disadvantages in the research.