The Influencing Factors Research On The PPP Special Purpose Vehicle Trust Level

The PPP model has been widely used in China for its advantages of transforming government's functions,improving the supply efficiency of public goods and services and alleviating local debt crisis.However,the characteristic of non-repetitive game easily makes the cooperation relationship of PPP project trading parties based on narrow “opportunism”,which leads to mistrust and even dispute between the parties and reduces the performance of project management.In this context,the factors influencing the trust level of PPP projects are studied,aiming to obtain the weight ranking and dimension division of the factors.This study is based on stakeholder,social exchange and trust theories.In this Research,factors affecting trust level of the project company were preliminarily screened through literature analysis,and they were supplemented and purified through expert interview.31 factors were comprehensively and systematically identified.After that,using questionnaires for data collection,calculation and analysis data by SPSS software,it concluded that “ability level,shareholder structure,operation compliance,reputation,local government credit situation,local government financial conditions” are the top six influencing factors.Besides that,all factors can be divided into five dimensions which are “cooperation interaction level influence factors,cooperative environment level influence factors,project level influencing factors,characteristics of the project company level influence factors and characteristics of implementing trust party own level influence factors”.Then,it puts forward countermeasures and suggestions through case analysis.This study not only from the perspective of theory enriches the research on trust in project,but also from the perspective of practice provides a list of the optimized trust level influence factors,helping project stakeholders to better understand the trust relationship between influencing factors and the impact of these factors on the project company trust levels.It provides beneficial guidance for the project company and the relevant parties to maintain or improve the trust,so as to improve the project company trust management ability and reduce the possibility of project failure.