摘要
目前我国大力推进PPP模式在公共基础设施建设中的应用。政府和社会资本参与PPP项目获得合理的投资回报是PPP项目成败的关键。本文研究PPP项目中政府和社会资本的投资回报机制,提出在社会资本服务表现偏好能确定或不能确定时政府和社会资本获得合理投资回报的投资回报分配机制,研究政府和社会资本获得满意投资回报的方法。为了保障PPP项目中政府和公众的收益,分析政府设置应对社会资本道德风险的惩罚机制的决策条件并提出政府设置惩罚机制的建议,为政府建立PPP项目的投资回报机制提供参考。
Nowadays, China has given great impetus to the development of Public Private Partnerships （PPP） in public infras- tructure construction. The return of the investment that the government and private sector can obtain is the key to the success of PPP projects. This paper aims to study the return of investment mechanism between the public and private sector. First, two re- turn of investment distribution mechanisms under the condition that whether the private sectors＇ performance preference can be determined are established using the game theory, which can make contribution to the method that government and private sec- tor obtain the satisfactory return of investment. Second, the government decision making conditions of the punishment mecha- nism aimed to prevent the private sectors＇ moral hazard is put forward and moreover, several suggestions are given to the estab- lishment of punishment mechanism, which will guarantee the profit of government and public. These researches give reference to government to set up the return of investment mechanism in PPP projects.
出处
《财经科学》
CSSCI
北大核心
2016年第12期101-109,共9页
Finance & Economics
基金
中央高校基本科研业务费专项资金资助项目"公路基础设施投融资体制改革研究"(项目编号:Y1117)
关键词
PPP项目
投资回报机制
博弈分析
PPP Projects
Return on Investment Mechanism
Game Theory Analysis
作者简介
蔡晓琰（1988-）,女，长安大学经济与管理学院（西安，710064），博士生。研究方向：PPP项目投融资。
周国光（1956-），男，长安大学经济与管理学院（西安，710064），教授。研究方向：交通投融资，交通财会。
