VFM Analysis Of The Construction Project Of The Economic Cooperation Zone In E City, Inner Mongolia

In order to vigorously develop the processing export and border trade,as well as the "One Belt And One Road" development strategy,since 1992,the State Council approved the national border economic cooperation zones reached 17,there are 19 provincial border economic cooperation zones.With the rapid development of economic cooperation zones,the demand for infrastructure construction projects is also growing.In order to pursue the optimal allocation of resources and maximize output efficiency,PPP model has been widely applied.The diversified role of PPP model in the investment methods of infrastructure construction can effectively relieve the financial pressure of government institutions,play a positive role in the modernization of government fiscal budget,and promote the modernization of national governance system and governance capacity.However,in practice,many projects adopt the traditional value-for-money evaluation method.Due to the existence of uncertainty,the traditional value-for-money prediction for the future cash flow of the project has a big defect,which makes the value-for-money evaluation result deviate from the actual project.Usually,the result is that the cooperative social capital gets excess returns,which on the contrary further aggravates the financial burden of the government,runs contrary to the role of the original PPP model,and even leads to doubts about the rationality of PPP model itself.How to restrain the influence of uncertainty in practice on traditional value-for-money,so as to keep the value-for-money results of PPP projects within an accurate range as far as possible,has become a proposition with theoretical value and practical significance.Based on the real option theory and the traditional value assessment methods of one's own advantage,to a certain economic cooperation zone construction project as the research object,by constructing the construction project of the real option pricing model,using the model parameters after the selection,calculation with the option value of the PPP project construction project of value,and make improvement on the traditional value assessment methods,makes when considering the value of real options,value assessment and closer to actual value of the project,finally through to the project value and project earnings volatility and risk-free interest rate sensitivity analysis of parameters,such as This paper attempts to provide a more scientific and accurate technical method for the government and public administration from a novel perspective by quantifying the influence of various uncertain factors on the value of real option and further on the value for money.