Research On Identifying And Measuring Critical Risks Of Social Capital In PPP Project Of Expressway

Since China entered the 13th Five-Year Plan,Expressway construction has developed rapidly.However,the Expressway project is expensive,and the government investment alone can not meet the funding needs.The introduction of PPP model can effectively solve the financing problem of the Expressway project,and also provide opportunities for social capital to participate in the infrastructure construction of the Expressway project.However,due to the large investment,high risk and relatively complex contract structure of PPP projects,it is easy to lead to the failure or withdrawal of such projects.In this regard,China’s economic authorities issued a series of relevant documents in 2017 to regulate the healthy and long-term development of PPP projects.Among them,the ability of social capital to control risks is closely related to the success or failure of the project.Therefore,this paper studies the identification and measurement of key risk factors of PPP project on Expressway from the perspective of social capital.Based on the research of the related theories of Expressway PPP project at home and abroad,this paper introduces the related concepts of Expressway PPP project,explains the definition of social capital,the concept of risk and the management procedure of Expressway PPP project,and analyses its risk formation mechanism and characteristics.Secondly,according to the characteristics of social capital risk of Expressway PPP project,using rough set theory to calculate,21 key risk factors affecting social capital are selected,and the list of key risk factors of social capital of Expressway PPP project is obtained.Thirdly,the existing risk measurement methods are analyzed.On this basis,the applicability of set pair analysis method is analyzed.The index system and comprehensive measurement model of social capital risk measurement for PPP project of expressway are constructed,and the Countermeasures of various risk factors are put forward.Finally,through the empirical analysis of the case,the risk measurement results are in line with the actual situation of the case,demonstrating the feasibility of the method,and providing a reference basis for the practical application of social capital risk measurement of Expressway PPP project.The research of this paper will help social capitalists to understand the risks of Expressway PPP project deeply and control the risks pertinently.It has practical significance to reduce the risks of social capitalists and ensure the smooth implementation of Expressway PPP project.