Research On Governance Factors Of Local Government Investment Project Decision-making From The Perspective Of Performance

All along,government investment projects in China have played a crucial role as the backbone of public investment,ensuring and improving people’s livelihoods,and driving economic and social development.With the continuous deepening of China’s investment system reform and the increasing demand for people’s livelihood,the activity of local government investment continues to increase.However,due to subjective and objective factors such as project governance level and resource constraints,there are varying degrees of problems such as overdue and redundant construction in various regions,making it difficult to ensure project performance.The governance system and capacity of local government investment projects urgently need to be improved.In recent years,the Party Central Committee and the State Council have successively introduced policies and regulations to enhance the decision-making and governance level of local government investment projects with stricter requirements and higher standards.Project governance can be roughly divided into three stages:decision-making,implementation,and operation,with the most prominent impact of project decision-making governance.However,as of now,academic research on the governance of local government investment projects has mainly focused on the project implementation stage and management technology.There is relatively little research on project decision-making governance,and there is a lack of research on the factors that affect project performance caused by decision-making governance.Therefore,this study starts from the perspective of project performance and adopts a combination of qualitative and quantitative methods to extract the factors of local government investment project decision-making governance,and explore the relationship and impact of each factor on project performance.Firstly,using a constructivist research paradigm,the study is placed in the context of local government investment project decision-making governance.Based on decision-making governance theory,public governance theory,and principal-agent theory,relevant literature is sorted out,and relevant concepts are defined and introduced.From the three dimensions of decision-making governance scientificization,democratization,and legalization,the relationship between decision-making consensus,project scheme quality,and project performance is analyzed,Propose relevant hypothesis propositions and build a theoretical model.Secondly,based on the theoretical model,further literature research and research exchange are conducted to confirm and derive the variables involved in measuring the scientific,democratic,legal,project plan quality,decision-making consensus,and project performance of local government investment project decision-making governance.Relevant measurement items and scales are generated.Finally,using the positivism research paradigm,we conducted a questionnaire survey on public servants participating in project decision-making governance,and used SPSS software to import the survey results into the theoretical model for statistical analysis.We studied the scientificity and accuracy of the theoretical model and hypothetical proposition,forming a complete "construction empirical" research loop,Based on this,propose countermeasures and suggestions to improve and enhance the decision-making governance and project performance of local government investment projects.The main conclusion of this study is that the scientization,democratization,and legalization of decision-making governance do not directly affect project performance,but rather have a significant positive impact on project performance through the quality of project solutions and decision-making consensus.One is that the scientific governance of decision-making has a positive and significant impact on the quality of project proposals and decision-making consensus in three dimensions: operational mechanism,decision-making methods,and decision-making standards.Among them,a scientific operating mechanism is the basic guarantee for achieving orderly,effective,and organic participation of various entities in local government investment project decision-making and governance activities.A scientific decision-making method is the fundamental basis for understanding the objective situation of project decision-making.Scientific decision-making standards are the yardstick and basis for project value judgment.The second is that democratization of decision-making governance has a positive and significant impact on the quality of project proposals and decision-making consensus,and it has an impact through two dimensions: information disclosure and communication and interaction.Among them,information disclosure is a prerequisite for achieving democratization of decision-making governance,and high-quality communication and interaction among various decision-making governance participants is the core way to achieve democratization of decision-making governance.Thirdly,the legalization of decision-making governance has a positive and significant impact on the quality of project proposals and decision-making consensus in the dimensions of reward and punishment rules and decision-making supervision.Among them,the rules of rewards and punishments are the basic framework for the legalization of decision-making governance,and placing decision-making governance under supervision is the fundamental basis for achieving the legalization of decision-making governance.This study proposes the following countermeasures and suggestions for local governments to improve investment project decision-making governance:firstly,optimize the decision-making operation mechanism,use scientific decision-making methods,follow scientific decision-making standards,and enhance the scientific level of decision-making governance.The second is to ensure information disclosure,strengthen communication and interaction,and enhance the level of democratic decision-making and governance.The third is to strictly hold accountable,incorporate extensive supervision,and improve the level of rule of law in decision-making and governance.