Selection Of Equity Structure Type About PPP Project Special Purpose Vehicle

Currently,With China's government to promote and support the PPP project,a new round of PPP boom will continue to ferment,causing more and more scholars attention.However,in the development of PPP projects to promote,the project landing rate is relatively slow.The reason is that the public sector and private sector involved in the PPP project usually have different interests,in fact,the conflict of interest between the two reflects that they have different interests expectations about PPP project.Therefore,the choice of the type of equity structure in PPP project special purpose vehicle directly affects the efficiency about PPP project implementation.At present,the research on the choice of the equity structure about PPP project in China is still immature,there are two major problems: One is that the existing classification about the type of equity structure lacks basis and practical significance,leading to the current type of equity structure of PPP projects more,the classification standard is not clear,between the various types of equity structure boundaries not clear.Two,due to the existing PPP project equity structure do not have a clear application,leading to the participants in the PPP project are more casual and lack of standards when choosing the type of equity structure.Therefore,according to the needs of government investment in special purpose vehicle to divide the type of equity structure,on the basis of the classification of equity structure,this paper constructs the feasible set of equity structure type selection.Based on the above problems,the paper conducts the following research using literature review method,expert interviews,case verification method,multiple case study method and grounded theory:Firstly,research on reasonable classification of equity structure about PPP project.This paper uses literature review method and case verification method to tease out the current scholars on the division of equity structure,identify the type of equity structure,find out the existing problems in the classification about equity structure.Then,the paper makes a reasonable division about the equity structure,and the results are divided into three types: government guidance structure?government holding structure and private sector investment structure.Secondly,research on reasonable choice of the type of equity structure in the PPP project special purpose vehicle.In order to effectively protect public sector and private sector cooperation,to provide quality products and services for the public,in this paper,we use multiple case study method and grounded theory to study the factors affecting the choice of equity structure about PPP project.In the stage of the research object selection,this paper use multiple case study method to select three typical cases: Beijing subway Line 4?Yangjiaxi sewage treatment plant project and Leling people's Hospital demolition project.Using the grounded theory method to analyze the data,the paper obtain the factors that influence the choice of the ownership structure of PPP project.Thirdly,research on the construction of feasible set for the choice of equity structure about PPP project.This paper construct the feasible set of the type of equity structure about PPP project based on the reasonable division for equity structure and the research about factors influencing the choice of equity structure,guiding the PPP project practice smooth implementation.