| Since 2014,the PPP model in China has been applied to infrastructure and public utilities on a large scale,bringing new developments to public goods and services.while PPP brings new development opportunities for China’s infrastructure,it also poses great challenges.In order to solve the problems faced by PPP,project governance theory plays an important role,not only to enable participants to improve their ability to operate PPP projects successfully and to satisfy stakeholders,but also to maximize the value added to the projects.Currently,most of the relevant literature focuses on improving project performance and discusses project systems,forming a hotspot of "project governance-project performance" and confirming that project governance has a positive impact on project performance.However,with the introduction of hot topics such as value delivery,value co-creation,value for money and value addition to projects,more attention has been paid to the value of projects.The intention is to study the impact of contractual and relational governance and dual governance on the value addition of PPP projects.After literature analysis,this paper sorts out the dimensions of contractual governance,relational governance and value-added of PPP projects based on transaction cost theory,social network theory and stakeholder theory,and constructs 3 base hypotheses,9 sub-hypotheses and 18sub-hypotheses by using hypothesis method.The measurement scales of three major variables of contractual governance,relationship governance and value-added of PPP projects were produced by interview method and literature analysis method.The data were collected through electronic questionnaires distributed by questionnaire star,and then the reliability and validity of the data was verified by SPSS24.0 and AMOS26.0software,and finally the paths were verified by the structural equation model constructed by AMOS26.0,so as to confirm whether the thirty hypotheses were verified one by one.Through the empirical study,this paper draws the following conclusions.1.Project governance is divided into two dimensions: contractual and relational,among which the contractual governance community is divided into three dimensions:comprehensiveness,flexibility and normality,and relational governance is divided into three dimensions: trust,cooperation and communication.Regarding the value-added of PPP projects,this paper classifies them into three dimensions of public value-added,corporate value-added and partnership value-added from the perspective of stakeholders.2.The potential positive correlation between contractual and relational governance of value-added of PPP projects is confirmed by hypotheses and structural equation modeling.The comprehensiveness and flexibility of contractual governance have positive correlation effects on public value added and corporate value added in PPP value added,while normality has no significant effect on relationship value added in PPP value added.Trust in relationship governance has the most significant correlation between PPP value-added and has an impact on each dimension of PPP project value-added.Cooperation has a more significant effect on partnership value-added in PPP project value-added,and no significant effect on public value-added and corporate value-added.The significance of communication with value-added of PPP projects is not significant.3.Dual governance of contract and relationship has a potential impact on value-added of PPP projects,and the impact on dual governance of each dimension of value-added of PPP projects is more significant.The themes and conclusions of this study can provide theoretical support for enhancing the value of PPP projects in China and improving the governance model of PPP projects,and can provide relevant suggestions for PPP project practice activities.n this paper,there are two innovative points in the study of value-added dimension division of PPP projects and dual governance on value-added of PPP projects,and the study has theoretical guidance and realistic practical value.Although this paper has achieved preliminary results in the study of dual governance of contract and relationship and PPP project value addition,although the sampling sample has the characteristic of overall randomness,there are still limitations such as the sampling cannot reach the idealization and the research process is not dynamic enough due to the subjective and objective reasons,and this paper proposes the future research outlook based on these limitations: adopting a more idealized sampling method,phasing the PPP The paper proposes future research perspectives based on these limitations: adopting a more idealized sampling method,collecting data and analyzing the impact of PPP project governance on the value added of PPP projects in stages,and adding antecedent conditions according to the characteristics of PPP project governance. |
