Research On The Governance Mechanism Of Large-scale Stadium Project On PPP

Large-scale stadium is is the important carrier of developing sports in China, and it plays a significant role in promoting to develop national and local economy and improving people’s living. According to the data surveyed from the sixth census to the national stadium,it indicates that the sports facilities management system in China is dominated by government administrative management currently, especially the majority of large-scale stadium gathering a lot of resources rely on fiscal funds and are operated by related government departments, and this model seriously hinders to bring out the the operational benefit and asset efficiency of the stadium. Nowadays, the operation and management of stadiums in China is in the stage of deepening reform to explore the road of marketization. As the international marketizational mode in public project, PPP constantly takes effect on the term of providing and operating of stadium facilities, it points out the direction for transforming state-directed operation of large-scale stadium, but also raises request for the transformation of governmental functions in sports public service. Based on this, the governance mechanism of PPP model of large-scale stadium is created in this paper, on the one hand, to solve the problem that how to effectively use the PPP mode in the operation of large-scale stadium project, on the other hand, to provide ideas for that government promote market oriented reform in stadium, and the ultimate goal is to achieve that the operational benefit and asset efficiency of large-scale stadium are fully exerted.Based on clarifying the concept of governance mechanism, this paper apply the relevant theoretical research(i.e.stakeholder theory, principal-agent theory, incomplete contract theory and property rights theory) to analyse the connotation and essence of governance mechanism of large-scale stadium on PPP, and then summarize the element of governance mechanism of large-scale stadium on PPP,that is interests needs, property right governance, and governance process. Morever, the conceptual framework are constructed according to the function attribute of large-scale stadium. Firstly, the main point of interests needs is to be clear that public sector is for the public welfare and private sector is for business in large-scale stadium, the basic principle for coordinating the interests needs between public sector and private sector is to ensure to realize business under the premise of meeting the the public welfare requirements. Secondly, property right governance is on the basis of both public and private interests needs, as the owner of the stadium, the public sector reasonably segment ownership, possession right, use right, disposal right and return right, then both public and private property right relation is distincted by arranging ownership, management right, residual control and residual claim between the public and the private.Finally, through the process of governance to ensure cooperative efficiency between the public and private, the running procedures are formed that respectively are within the public sector organizations and between the public and private cooperation organization.In this study the theory of conceptual framework of governance mechanism of large-scale stadium project on PPP is feasible explained by the PPP project case analysis of the National Stadium and the Stadium Australia. Moreover, on the Chongqing background of the requirement of large-scale stadium on PPP, according to the ―The implementation scheme for reforming PPP investment and financing mode of Chongqing city‖, the practical PPP governance mechanism is designed basing on the conceptual framework for Jiangnan Sports Center of Chongqing.