Research On Influencing Factors And Governance Of PPP Project Negotiation

In recent years,the PPP model has been widely used in infrastructure construction by virtue of its advantages of absorbing social capital and alleviating the financial burden of the government,and has been vigorously promoted in China.However,due to the long operation period of PPP project and the incomplete initial contract,the re-negotiation of PPP project happens frequently.But the final result of the renegotiation is often not ideal,contrary to the original intention of renegotiation,and affects the efficiency of the implementation of PPP projects.Therefore,it is imperative to study the governance of PPP project renegotiation.Firstly,based on the triggering factors of PPP project renegotiation established in relevant literature and cases,the thesis classifies the influencing factors of renegotiation into three categories: social environment status,initial contract management and project operation management,including 22 preliminary influencing factors.Then the hierarchical structure model of influencing factors of PPP project renegotiation is established.Through analysis,it is found that market supply and demand changes,opportunistic behavior,fee changes,risk sharing,government default,income distribution and other factors are the main factors affecting the occurrence of PPP project renegotiation.Secondly,this thesis establishes the game model of social capital party and government side,and finds the game solution by Bayes-Nash equilibrium.The optimal decision of both parties in the renegotiation game is given,and A balanced solution is obtained under different conditions.According to the results of the game,it is found that the choice of the optimal game strategy for both parties depends mainly on the expected cost and benefit.In addition,the corresponding constraints are proposed from the perspective of the government and social capital.Finally,aiming at the key influencing factors and constraining renegotiations of PPP project renegotiation,the objectives and principles of PPP renegotiation governance system are set,and the responsibility sharing of each participant in the governance system is analyzed.Finally,the PPP project renegotiation governance system is proposed.The construction of trigger mechanism,constraint mechanism and supervision mechanism are discussed respectively.By studying the influencing factors of PPP project renegotiation and proposing a targeted governance mechanism,it can improve the controllability of the influencing factors of PPP project renegotiation,and effectively reduce the occurrence of PPP project renegotiation.