| In recent years,along with the pace of China's sustained economic development and the booming request for infrastructure construction projects,the PPP model,which is a government innovative financing method to provide infrastructure services,is receiving more and more attention.Previous researches are always about risk identification and risk allocation of PPP projects,and are always based on the principal-agent theory,but focus on agent side.From the perspective of hybrid organizational governance and based on the relevant literature of PPP model and PPP risk,corruption and culture,this paper introduces the theory about upper echelons theory,social assumptions,etc.Moreover,this paper,unlike others,taking the personal characteristics of government officials as the entry point,combining the heterogeneity of prefecture-level cities such as corruption degree and uncertainty avoidance culture,explores the influence of background characteristics of government officials on the stability of PPP projects,and the moderation of corruption degree and uncertainty avoidance.This paper adopts the collection method of second-hand data,along with literature analysis method,text analysis method and empirical analysis method.Based on samples of PPP projects in prefecture-level cities in China(excluding Taiwan,Hong Kong and Macao and municipalities)from 1993 to 2015,we obtain the conclusions after data analysis as follows.Empirical studies have found that there is a significant negative correlation between government officials' education level and PPP project instability,and there is also a significant negative correlation between government officials' geographical identity and PPP project instability.The corruption degree of prefecture-level cities can significantly enhance the negative correlation between the government officials' education level and PPP project instability as well as the negative correlation between government officials' geographical identity and PPP project instability.But the uncertainty avoidance cannot moderate the negative correlation between government officials' education level and PPP project instability as well as the negative correlation between government officials' geographical identity and PPP proj ect instability.At the end of the paper,we discuss the results and proposE the suggestions for the selection of government officials in the PPP projects We also emphasize that in the high-level corruption cities,the PPP project stability has two sides as a sword has two edges.In addition,we also talk about the limitations of the research and put forward the outlook for future researches. |
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