A Simulation Model for Optimizing the Capital Structure of Public-private Partnership Schemes
There is a growing trend of joint financing in Public-Private Partnership (PPP) projects and determining the reasonable capital structure for PPP schemes is very important at the decision-making stage. Firstly, the reasons for joint financing are analyzed and the effect of joint financing to reduce risk is proved in mathematical method. Secondly, factors that have impact on the capital structure are discussed and key factors are identified. Based on those key factors, a simulation model for optimizing the capital structure of PPP schemes has been established. Benefiting from incorporating important risk factors reasonably in advance, the simulated results can provide a better reference point for the financing negotiation than merely referring to the NPV or the PBP of the project. It would help to shorten time and cost for negotiation and enhance the utilization efficiency of PPP model.
capital structure financing negotiation joint financing optimize public-private partnership simulation
YE Gongwei YUAN Yongbo
Faculty of Infrastructure Engineering Dalian University of Technology Dalian, China
国际会议
2010 International Conference on Construction and Project Management(2010年IEEE建设与项目管理国际会议 2010ICCPM)
成都
英文
325-329
2010-11-16（万方平台首次上网日期，不代表论文的发表时间）