Research On The Efficiency Of PPP Projects Of China:Based On The Comparative Analysis Of State-owned Enterprises And Private Enterprises Act As Private Sector

According to the relevant statistical data,the types of private sector in China are divided into two major categories,state-owned(local and central)enterprises and private(foreign-funded and private-funded)enterprises.The existence of state-owned enterprises is disputed because it does not conform to the original definition of PPP.But this phenomenon is inevitable because of the special situation in China.And the possibility for state-owned enterprises to act as private sectors in the PPP project is constantly being adjusted in China's policy documents.In fact,whether PPP projects,which private sector is served by state owned enterprises,can continue to be implemented depends on the efficiency of the project.Therefore,the efficiency of Chinese PPP projects is discussed which based on the comparison of private sectors between state-owned enterprise and the private enterprise.The specific research contents include the following three aspects.(1)The conceptual construct of efficiency of PPP project and study the dimension division is established using grounded theory.Firstly,textual data is obtained through the web search and document index acquisition,and the interview outline is designed based on the analysis of the textual data.Secondly,5 representative interviews are selected according to the purpose of the research,and interview data is obtained through in-depth interviews with them respectively.After that,the textual data and interview data are imported into Nvivo 10 software for three-level coding,and three dimensions of efficiency of PPP projects were obtained according to the coding result,including: compliance of the subject of the contract;realization of the project objectives;and satisfaction of the stakeholders.Finally,the difference between the efficiency of PPP projects and other related concepts is analyzed,which are used to evaluate PPP projects,based on the conclusion from Grounded Theory.At last,the connotation of the efficiency of PPP projects is presented: it has nothing to do with the project's congenital and objectivity factors,which is mainly determined by the relevant institutional arrangements and project participants' factors.(2)The efficiency of PPP projects about the state-owned enterprise or the private enterprise act as the private sectors is compared through multi-case study method.Firstly,the evaluation indicators and metrics of PPP project efficiency are obtained through analyzing it's established conceptual model.Next,screening cases in accordance with specific principles,and case information is collected through two channels,including project research and text data collection.Then,eight collected cases are divided into four groups based on specific factors,in order to ensure that the conclusions of the analysis are only affected by the type of private sector of PPP projects.The four groups are: foreign-funded enterprises VS local state-owned enterprises in small,high operating maturity projects;private-owned enterprises VS local state-owned enterprises in small,higher operating maturity projects;foreign-funded enterprises VS central state-owned enterprises in big,lower operating maturity projects;and private-owned enterprises VS local state-owned enterprises in big,lower operating maturity projects.Finally,four groups of cases were analyzed and compared respectively from three aspects,which are: contract performance,project objectives and stakeholder satisfaction.The level of efficiency of PPP projects is presented ultimately,and the private sector for these projects is served by different types of enterprises.(3)The management enlightenment of the efficiency promotion of PPP project is provided through the discussion and analysis of the research results.Firstly,the results of multi-case analysis are feedback to PPP practitioners with rich practical experience,and to explore the rationality of the conclusion of the study and the deep-seated reasons,the conclusion including: there are 5 reasons for the higher efficiency of the private sector in the complex large scale projects of the state owned enterprises;and there are 2 reasons for the higher efficiency of the private sector in the complex large scale projects of the private enterprises.Secondly,according to the conclusions of the study,2 points of management inspiration for improving the efficiency of China's PPP projects are obtained: The state owned enterprises in our country should be treated rationally as the private sector PPP project;the government should choose appropriate private sector to cooperate in the face of different types of PPP projects.