Influencing Factors And Empirical Research Of PPP Project Renegotiation Effect

Since 2014,under the vigorous promotion of the Chinese government,the PPP model has been widely used in the field of infrastructure and public utilities.Because it can improve the supply efficiency of public products and public services,the PPP model has played an important role in China's infrastructure..However,the contract is incomplete and the PPP project has a long duration,which leads to the inevitability of renegotiation in the project performance process.At the same time,in the renegotiation process,due to conflicting objectives of the negotiating parties and more complicated negotiation issues,the efficiency of the renegotiation or the results of the renegotiation will deviate from the original intention of the negotiation.At present,the research on the influencing factors of PPP project renegotiation effect is still immature,and there is no systematic analysis and combing of the influencing factors of PPP project renegotiation effect.Therefore,this paper attempts to identify the factors that affect the renegotiation effect of PPP projects,explore the role models among the various influencing factors,and empirically test the influencing factors to verify their rationality.Finally,based on the research conclusions,the path to improve the renegotiation effect of PPP projects is analyzed.The specific research content of the article includes the following three points.This article first identifies the influencing factors of the renegotiation effect of PPP projects.Obtain first-hand information through interviews,and analyze it in combination with other literature and other materials,using rooted theory to sort out the influencing factors,preliminary identification and determination of influencing factors,and finally obtain the impact of the PPP project renegotiation The main factors are contract governance,relationship between the two parties,allocation of control rights,compensation mechanism and withdrawal mechanism.Secondly,construct the function model among the influencing factors of the renegotiation effect.While using the rooted theory to explore the influencing factors of the renegotiation effect of PPP projects,in-depth analysis of the research results combined with the actual situation of the interviews,exploring the internal logic and interrelationships among the influencing factors,and constructing the influencing factors of PPP project renegotiation effects Conceptual model of internal logical relationship.Thirdly,the study conducted an empirical test on the impact of various influencing factors on the effect of renegotiation.According to the influencing factors researched in the previous article,the research hypothesis is put forward,and the research hypothesis is analyzed by questionnaire survey and empirical analysis.After the SPSS test,the research hypothesis is confirmed.And through the research of the regression weights,it is further found that the order of the five influencing factors from large to small is as follows: compensation mechanism,bilateral relationship,contract governance,control rights allocation and exit mechanism.In the end of this article,we conducted a targeted analysis of the path to improve the renegotiation effect of PPP projects,mainly to improve the institutional background as a policy guide,take contract governance as the core work,grasp the key to improving the renegotiation effect of PPP projects,and use relationship governance to help renegotiation These four aspects of value realization,and summarize the research conclusions,shortcomings and prospects.