The Mechanism Of Government Compensation On Rental Indemnificatory Housing In Public Private Partnerships

The rental indemnificatory housing projects have social welfare attributes,in the tide of building a well-off society in an all-round way,are eager to introduce the public private partnerships to reduce the financial pressure of the government and inject new vitality into the development of it from the private sectors.However,the economic benefits of The rental indemnificatory housing projects are relatively low,resulting in low enthusiasm for the private sectors.Therefore,government compensation has become a key factor to attract the private sectors in it,and it is also an important guarantee for public private partnerships to play its advantages.If the compensation is too high,the government finance is unable to bear the burden;but the compensation is too low,it can not mobilize the enthusiasm of private sectors' investment.To keep this balance,it is necessary to carry out in-depth study on the government compensation mechanism of the PPP model rental housing project.In this paper,the government compensation on rental indemnificatory housing in public private partnerships is the research point of view.Based on the three aspects of the mechanism design,the dynamics system,the drive train system and the executive system,the government compensation mechanism is systematically analyzed.In the dynamics system,which is the key to promote the private sector investment the rental indemnificatory housing in public private partnerships,according to the factors of project participation and project,based on the spillover of the rental housing project,the government compensation is the key to promote the private sector investment rental indemnificatory housing in public private partnerships is analyzed.In the drive train system system,the government compensation is defined as two parts,the basiccompensation and performance compensation,according to the expectation theory.Based on the stock related data of Shanghai stock market,the asset capital pricing model is used to obtain the basic compensation,the maxim government compensation and the performance compensation interval.In the execution system,the whole life cycle of the project,the structural equation model and the entropy value method are considerd as the technical support to identify the private sector performance index of the rental indemnificatory housing in public private partnerships and establish the two level evaluation system.On the basis of the design of the government compensation mechanism,taking a rental indemnificatory housing in public private partnerships in city J as an example,the basic compensation,performance compensation and social capital performance are solved respectively.Then the government compensation of the project is obtained,and it is compared with the actual compensation of the project to test the practicality and rationality of the government compensation mechanism.Through the study of the government compensation on rental indemnificatory housing in public private partnerships,this paper draws the following conclusions:the government sector,the private sector,the public sector,the franchise period,rent,demand and other factors are the driving force for the development of the rental indemnificatory housing project;the highest compensation for the government can be burdable is the social average investment income,the basic compensation that social capital can accept is the average investment income of the real estate industry,which is used as the government compensation interval;and there are 23 factors affecting the5 stages of the whole life cycle of the rental indemnificatory housing project in public private partnerships.The government compensation and approval feasibility study report of the J city PPP mode rental housing project is only 1.48% different from that calculated in the feasibility study report.Effective government compensation is the dynamics to promote private sector to participate into rental indemnificatory housing in public private partnerships.Analyzing the maximum government compensation and the performance evaluation of the private sector,it can reduce the government financial pressure and improve thequality of the private sector.It also provides reference and basis for the government departments in charge of leasehold government to formulate relevant policies and the private sector investment analysis,and to promote the flourishing development of the rental indemnificatory housing project.Relevant scientific research,paper writing and publication are supported by the the project fund for the research and planning of the humanities and social sciences of the Ministry of Education(16XJA790002).