| Public-private partnership(PPP)scheme is extensively applied to the construction of infrastructure and public utilities with advantages:broadening the source of funds,reducing financial burden,dispersing risks,optimizing project management,etc.However,in the current PPP project practice,there are many excessive behaviors of local governments,and the practice of PPP has also stepped into the standardization stage of clearing and rectifying.The government’s excessive behavior will not only affect the realization of PPP project performance,but also affect the investors’ demand and then affect the behavior of investors.Under the pressure of the government’s administrative rights,status and policies,investors will follow or agree with the government’s excessive behavior,that is,conformity behavior.The analysis of the reasons for investors’ conformity to the government’s excessive behavior is helpful to reduce the tendency of investors’ conformity to the government’s excessive behavior,so as to avoid the negative impact of the government’s excessive behavior on the project performance in time.According to the motivation theory,the demands of the stakeholders participating in PPP project is the internal driving force of the behavior,and the external environment is the incentive or external driving force of the behavior.Therefore,from the perspective of demand and external environmental factors,the research discusses the influence path of government excessive behavior and investors’ conformity to government excessive behavior,so as to control the subjective behavior risk of the project.First,the demand of government and investors participating in PPP projects is analyzed,which lays a foundation for the analysis of the influence path of the behavior.Based on the characteristics of PPP projects,this research comprehensively identifies 14 demands of the government and 6 demands of investors through literature analysis and questionnaire survey(287 valid data).Factor analysis shows that 14 government demands are divided into four categories:satisfy public activities demand,self-interest demand,responsibility demand,financial relief demand;6 investor demands are divided into two groups:development ability demand and satisfy social activities demand.Entropy weight analysis shows that the self-interest of local government is higher than that of publicity in PPP projects;the social reputation of investors is the most important demand,which is the basis for investors to obtain external resources and realize the development of enterprises.Second,based on motivation theory,the influence path of government excessive behavior in PPP projects is studied to control behavior risk,reduce risk cost and improve project performance.Based on the three characteristics of the government:sociality,administration and stakeholder,the research identifies 10 external environmental factors that affect the government’s excessive behavior.Combining with the four kinds of demand of the government,the structural equation model of the influence path of the government’s excessive behavior is constructed.In this section,166 valid data are collected through questionnaire survey.After performing factor analysis,model test and path analysis,the findings are as follows:External environmental factors can be divided into social conditions,department mechanism and project information;The government’s financial relief demand,self-interest demand and satisfy public activities demand all significantly lead to the government’s excessive behavior,while the responsibility demand plays a restraining role,and the first three types of demand play an intermediary role in the path of external environment affecting excessive behavior;For the environmental factors,only the lack of project information has a direct effect on the government’s excessive behavior,and the risk of irrational behavior is low in the government paid projects.Third,the external pressure of investors to conform to the government’s excessive behavior,that is government control right,is analyzed.Which lays a foundation for the study of investors’ conformity behavior.The concept of conformity means that members change their original beliefs or behaviors under the pressure of real or imaginary objects.In PPP project company,the pressure of investors’ conformity to the government’s excessive behavior comes from the government’s position,rights,resources and other advantageous information.Therefore,based on the perspective of investors,this research identifies 14 secondary indicators to measure the control rights of local governments.Factor analysis of 176 questionnaire data divides 14 indicators into explicit and implicit indicators to measure the government’s explicit and implicit control rights respectively.The entropy weight analysis of indicators shows that the government’s risk ratio and equity ratio have a greater impact on the government’s control right in PPP projects;the position advantage has the greatest impact on the government’s implicit control right,followed by the government’s trust degree.Fouth,based on motivation theory and conformity theory,the influence path of investor’ s conformity on government’ s excessive behavior is discussed to avoid the negative effect of government excessive behavior.(1)Based on the theoretical analysis and data test,the study develops a measurement scale of investor demands and investor conformity form.(2)The structural equation model of the influence path of investor’s conformity is constructed.(3)244 valid data are collected through questionnaire survey,and the path and model are tested.The results demonstrated that government excessive behavior increases the 6 demands of investor in the PPP project,then aggravate the investors’ conformity risk.The factors that directly lead to investors’ obedience are investment income demand,future project market demand,the demand of establishing cooperative relationship with the government and the government’s explicit control right.The investment income demand and the demand of establishing cooperative with the government play an intermediary role in the influence of the government’s explicit control right and the government’s implicit control right respectively.The industry competitiveness demand and social reputation demand affects the investors’ compliance tendency,and the government’s implicit control right indirectly affects investors’ compliance through influencing social reputation demand.This thesis takes the stakeholders as the core.The demands and causes of behavior of people are analyzed by introducing the motivation theory in social psychology into the practice of project management,which has important theoretical and practical significance for the cooperation between stakeholders and the healthy development of PPP scheme:Theoretically,the research focuses on the behavior risk of stakeholders,which is conducive to improving the governance system of stakeholders’ behavior risk in PPP project;Analysing the demands of the government and investors in PPP projects to provide suggestions for balancing the demands of stakeholders,which is helpful to improve the target management of the project;The study analyzes the measurement index of government control from the perspective of investors,which is conducive to investors’ reasonable cognition and evaluation of government control in PPP projects;The thesis have developed a measurement scale of investor demand and investor conformity,which provides a reference for related research in this field.In practice,according to the demand weight of stakeholders,stakeholders formulate a targeted demand control mechanism to keep the organizational objectives consistent,which is conducive to reducing the goal contradiction between the stakeholders and saving management costs.The analysis of the influence path of the subject’s behavior enables the interest subject to trace the origin of the excessive behavior and fundamentally control the behavior risk and cost of the practice project.At the same time,according to the path coefficient,the stakeholders can control the factors of behavior according to the degree of influence,so as to save the management cost and improve the performance of the project. |
