| PPP mode is a project operation mode of cooperation between government and social capital in public infrastructure.It not only solves the shortage of funds in government departments and the short board problems in technology and management,but also becomes a new mode to realize the modernization of national governance and promote the new urbanization construction by changing the government functions.However,there are still many problems in the application of PPP mode,such as project withdrawal,less private capital and foreign investment participation,low proportion of successful projects,early termination of some projects or transfer to BT mode.Therefore,it is more urgent and important to carry out post evaluation research on the influencing factors of PPP project success.There are many factors influencing the success of PPP project,but they are mainly concentrated in two aspects: objective factors and risk factors.Because of the particularity of PPP project public-private partnership,the research on the success factors of PPP project should be based on its characteristics."Benefit sharing,risk sharing" is not only the basis of PPP model public-private partnership,but also the characteristics of PPP project,in which "benefit sharing" is the common goal of government and social capital to establish publicprivate partnership."Risk sharing" is not only the basis of public-private partnership of the project,but also the guarantee for PPP project to realize "benefit sharing" by integrating resources and giving full play to their respective advantages to jointly resist and reduce risks.The purpose of this study is to establish a structural equation model framework of factors affecting the success of the project,select the factors affecting the success of the PPP project from the perspective of "risk sharing",comprehensively consider the various stakeholders of the project,and provide strong support for the protection of the interests of the relevant participants of the PPP project and the smooth implementation of the project until the success of the project by re mining the success factors and redefining the success of the PPP project So as to provide reference for the implementation of PPP mode in China.First of all,this paper systematically reviews the relevant research results on the evaluation of the influencing factors of PPP projects.Taking Chinese government and social capital as the two main bodies of PPP projects,based on the formation mechanism of the influence of interest sharing and risk sharing on the project success in PPP mode,this paper uses the grounded theory to find the measuring variables that represent the content of potential variables and establish the structural equation model to analyze the PPP projects in China Factors influencing success.Then,we design and issue questionnaires,collect effective data on the success factors of PPP projects,modify the structural equation model,get the theoretical data that affect the success of PPP projects through empirical research,quantitatively analyze the influence value of each parameter on the success of PPP projects,and then calculate the main influencing factors.Finally,according to the influence values of different parameters,the paper puts forward the countermeasures and suggestions for the implementation of PPP projects in China from the perspective of risk sharing.The results of confirmatory factor analysis of structural equation model show that: in the view of risk sharing,the direct impact of investment environment on the success of PPP project is the largest(0.34),followed by the government(0.32)and social capital behavior(0.29).For the influencing factors of PPP project success,the information sharing environment(0.67),PPP specialized environment(0.65),performance management and supervision work(0.81)and supervision work(0.80)of government departments,financial continuous experience ability(0.93),performance ability(0.92)and financing management ability(0.90)of social capital are important factors. |
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