| PPP has become one of the important means to promote economic development.Since 2013,policies related to PPP have been introduced intensively,and PPP projects also experienced a blowout growth from 2014 to 2016.It was not until 2017 that the state introduced a series of standardized measures that PPP projects gradually entered a stage of smooth progress.As such an innovation public service supply model:marketization and socialization,PPP projects have also experienced many twists and turns in their development.Through the literature search of PPP projects,it is found that the previous research on project risk mainly focuses on the project construction period of risk sharing,income distribution and so on.CEO politics associated with enterprise as the breakthrough point,instability in PPP projects as the foothold,the Resource Curse effect as the theoretical framework,based on the marketization process and regional culture,this paper discusses the influence of CEO political affiliation on the instability of PPP project,and the moderating effect of marketization process and regional culture between CEO political association and PPP project instability.In addition,this paper also makes a distinction between political relations and classifies them into ascribed bureaucratic connections and achieved political connections according to their types,so as to further explore the different influences on the instability of PPP proj ects.This study selected PPP projects in 2014 and before,used second-hand data for quantitative analysis,mined the relevant information,such as signing time,total amount,the city,the name of the signing enterprise and so on,and then matched with the enterprise information of CEO.After reasonable quantitative processing,regression verification of the hypothesis put forward in this paper.Empirical research finds that,there is a positive correlation between the CEOs' political connection and the instability of PPP project.The influence of achieved political connections on the instability of PPP projects is greater than that of ascribed bureaucratic connections.The marketization process weakens the positive correlation on the positive correlation between CEOs' political correlation and PPP project instability.There are three dimensions in regional culture,which are uncertainty avoidance,future orientation and humane orientation,weaken the positive correlation between CEOs' political correlation and PPP project instability.On the contrary,power distance enhances the moderating effect.Finally,the paper discusses the research results.In addition,a series of measures are proposed to ensure the stable development of PPP projects from the perspectives of enterprises,government agencies,marketization process and regional culture.At the same time,the future research is prospected. |
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