Research On The Franchise Phase Of The Multipurpose Water Complex PPP Project

Water conservancy is the lifeline of Agriculture development,which is the foundation of the national economy and social development.For the rational development and utilization of water resources,the project which can improve the efficiency and efficiency of water use is needed.The multipurpose water complex works well to solve the problem,which undertakes a number of tasks at the same time,like flood protection,power generation,irrigation,tourism,transport and so on.For the features of long construction period,large scale investment,numbers of risks,whether the risks of the multipurpose water complex projects can be scientifically shared is the key to the success of the project.In this paper,the stakeholder theory is introduced,and regard PPP project as a integrated systems with diversifying interest entities.Depending on identifying risks in the Franchise operation phase of multipurpose water complex PPP project,evaluating the key risk factors,analysing the PPP project stakeholders' risk preference and risk bearing capacity,we establish the risk sharing mechanism of PPP projects,which divided the project risks into shared risks and non-shared risks.For shared-risks,we construct a bargaining game model in the case of complete information and incomplete information,which bring out the equilibrium.This subject not only complements the lack of research in the area of risk sharing in PPP project,but also provides the basis for a reasonable allocation of risk share.It also guarantees the smooth progress of the project and lays a good foundation for healthy development of PPP model in China.