Research On The Influence Of Stakeholder Relationship On The Performance Of PPP Projects

Public-Private-Partnership(PPP)is an effective tool for comprehensively promoting the deepening reform of the socialist market economic system.With the arrival of a large number of PPP projects,how to improve the performance level of the project has become one of the key issues that PPP needs to solve urgently.In practice,due to the complexity of the stakeholders involved in the PPP project,it is difficult to coordinate the interests of all parties to reach a consensus and lead to relationship conflicts,which will eventually lead to poor performance or even failure of PPP projects.The existing research still lacks systematic mechanism analysis on how stakeholder relationship affects PPP project performance.There is still no specific strategy analysis on how to improve project performance from the perspective of strengthening stakeholder relationship management.Therefore,this paper studies the impact of stakeholder relationships on the performance of PPP projects.This paper uses literature research,expert interviews,questionnaire surveys,structural equations,etc.to analyze the mechanism of stakeholder relationship on PPP project performance.The main research conclusions are:Firstly,based on the stakeholder theory,the stakeholders in each stage of the PPP project life cycle are identified,and the formation of stakeholder relationship is analyzed.Secondly,the stakeholder relationship in the PPP context is determined through literature research and expert interviews.The four components are trust,communication,reciprocity,commitment,and design of their measurement scale.Based on the balanced scorecard,the PPP project performance is divided into four dimensions: stakeholder satisfaction performance,financial performance,process management performance,and benefit performance through literature research and expert interviews.The KPIs in each dimension are identified and designed according to the KPI.A four-dimensional measurement scale for PPP project performance.The stakeholder relationship measurement scale and the performance measurement scale were designed as questionnaires and distributed to obtain empirical research data on stakeholder relationship and PPP project performance.Thirdly,the various elements of stakeholder relationship and PPP were constructed through theoretical analysis.The hypothetical conceptual model of each dimension of project performance is validated based on empirical data using hypothesis testing,and a structural equation model between stakeholder relationship and PPP project performance is constructed,through qualitative conceptual models and quantitative The structural equation model reveals the mechanism of stakeholder relationship on the performance of PPP projects.The empirical analysis shows that:(1)Stakeholder relationship does not have significant impact on the various dimensions of PPP project performance,which promises satisfactory performance for PPP project stakeholders.The performances of financial performance,process management performance,and efficiency performance have significant effects.Communication has a significant impact on process management performance of PPP projects.Reciprocity has a significant impact on stakeholder satisfaction performance and process management performance.Trust has a significant impact on stakeholder satisfaction performance;(2)The influence of each element of stakeholder relationship on project performance is not all direct.There may be some mediating effects.For example,reciprocity affects the satisfaction performance of stakeholders through trust indirectly,and trust indirectly affects financial performance through commitment of intermediary variables.Indirectly affect process management performance through communication;finally,based on the results of empirical analysis,it proposes management suggestions to improve the performance level of PPP projects by strengthening stakeholder relationship management.