| The introduction of PPP model to enterprises to participate in public infrastructure construction can attract enterprises' capital,advanced technology and management experience in order to provide better services,better carry out public infrastructure construction and relieve the pressure of government funds.With the continuous expansion and standardization of PPP warehousing and landing scale,municipal engineering PPP projects are in the forefront of all industries in PPP mode,regardless of the number of projects,project transaction amount or landing execution amount,ranking first among all industries.However,the investment return rate of municipal engineering PPP projects is low.In order to steadily promote the development of municipal engineering PPP projects in response to national advocacy,how to make the municipal engineering PPP mode obtain better investment return and explore the main factors affecting its investment return become the focus.Many scholars have expressed their views on the issue of PPP investment return,but most of the scholars' research is only at the theoretical level,few are specific to municipal engineering PPP projects,and there is also a lack of research on practical issues,and the research on municipal engineering PPP project investment return is still not perfect.Providing comprehensive construction capabilities as a large construction company,one of the China Railway Fourth Bureau best subsidiaries of China Railway and has many municipal engineering PPP projects.This paper focuses on the factors affecting the return on investment of municipal engineering PPP projects from the point of view of China Railway Fourth Bureau PPP projects and has a certain representativeness.On the basis of extensive reading of domestic and foreign documents,this paper adopts the methods of questionnaire,quantitative analysis and case analysis.First of all,data are collected from the case enterprises through a questionnaire survey.After collecting valid questionnaires,the questionnaire data are processed with the help of SPSS20.0 software.Through testing the reliability and validity of the data,the validity is analyzed.Then,the frequency distribution analysis in descriptive analysis is used to analyze the various characteristics of the data fed back by the questionnaire,describing the various characteristics of the measured samples and the overall characteristics they represent.Factor analysis is used again to reduce the dimensions of the variables with high correlation and reduce the complexity of problem analysis.Finally,regression analysis is used to study the relationship between the return on investment of PPP projects in municipal projects and the six influencing factors.Through a series of analysis and research,it is concluded that economic environment,market environment,policy and political environment have a significant positive impact on investment return.Finally,based on the above analysis,some countermeasures and suggestions are put forward to obtain a good return on investment:(1)Enterprises participating in PPP projects of municipal engineering should review the situation,and thepublic sector should improve the economic environment,promote the stable economic growth of the project site and promote the urbanization development of the project site.(2)Both the public sector and enterprises should conduct adequate market research,do a good job in market forecasting,pay attention to the factors such as the change of population size in the project location,which lead to the difference between market forecasting and actual demand,and improve the degree of market freedom in the project location.(3)The government should give full play to its functions in PPP projects,improve office efficiency,introduce incentives and preferential policies for PPP models,enhance public support for projects,expand multi-channel and diversified sources of income,and strengthen supervision and supervision of infrastructure projects.(4)In the aspect of PPP project of municipal engineering itself,it is necessary to ensure that the project is legitimate,compliant and well maintained,that the project conforms to the company's strategy and has clear construction direction and sufficient investment.(5)Construction enterprises should prevent engineering quality risks beforehand,control cost in the event and provide guarantee obligations afterwards.(6)Focus on the selection of partners in PPP project consortium and the ability of partner organization and management. |
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