The Influence Of Strategic Alliance On The Capital Structure And Its Performance In The PPP Project

In recent years,with the increase in demand for infrastructure construction,the government began to encourage private capital to participate in the construction of public projects to promote the development of infrastructure and public utilities,and at the same time achieve the purpose of mobilizing the enthusiasm of private capital.The Ministry of Finance has repeatedly issued documents to promote and carry out the PPP model.However,in the process of cooperation,due to the existence of unequal relations between public and private parties,there are often many disputes and problems that cause the project to be suspended,unsustainable or even interrupted,which greatly dampens the enthusiasm of private capital to invest in public projects.And caused the government to increase financial pressure and other issues.The reason is that there is no good relationship between the public and private parties.At the same time,for PPP projects,both public and private parties and the level and relationship of the alliance may affect performance,thereby affecting the smooth implementation and development of the project.Therefore,it is very important to study the strategic alliance relationship,performance and capital structure of PPP projects.Based on the above research background,this paper aims to explore the influence of strategic alliances between PPP project public-private partnerships on the capital structure and performance of PPP projects.Based on the literature research and theoretical derivation at home and abroad,the assumptions about the relationship between the public-private PPP project strategic alliance,capital structure,and performance are proposed and a theoretical model is established.Finally,through the data collection,collation and analysis,the regression model was tested.The results showed that:(1)The strategic alliance relationship of PPPprojects has a positive influence on the capital structure,and it is positively correlated;and each of its dimensions shows a positive correlation with the capital structure.(2)The strategic alliance relationship of PPP projects has a positive impact on performance and has a positive correlation.(3)Its dimensions,except for fairness and trust,are positively correlated.The capital structure of the PPP project has an impact on performance and is positively correlated.This article through the research of PPP project strategic alliance,performance and capital structure,can provide theoretical guidance for PPP project selection and decision-making,provide basis for the successful implementation of PPP project,which is conducive to the realization of public and private performance.