A Research On Opportunistic Behavior And Governance In PPP Projects

As a financing model,PPP is also an innovative governance mechanism.It can not only ease the pressure on the government’s financial funds,but also effectively improve the quality and efficiency of the supply of public goods.It is also popular all over the world.However,the reality is that PPP projects often fail such as government repurchasing,project suspension,corporate exit,and project insolvency,which not only causes huge losses to the government and enterprises,but also harms the public interest.The current research on the PPP model focuses on risk management.Based on this,this paper attempts to identify and analyze the opportunistic behaviors of governments and enterprises from the failure cases of PPP projects,because whether the behavior is appropriate or not can largely affect the occurrence of partial risks in the project.Whether or not,and regulating the behavior of the project partners can largely maintain project efficiency and achieve a win-win situation for project participants.Therefore,it is of theoretical and practical significance.First,based on the literature review,this article is based on the relevant research of the PPP project and the definition of opportunistic behavior.It understands the opportunistic behavior of the PPP project and describes the performance of the opportunistic behavior in the project.It discusses the PPP project.There is a possible negative impact of opportunistic behavior and the need to govern this behavior.Then,the failure cases of PPP projects in multiple fields are selected,the key events of the project failure are summarized,the opportunistic behaviors of the government and the enterprises in the project are identified,and the concrete manifestations of these behaviors are elaborated.In addition,the following chapters analyze the causes of opportunistic behavior from the overall macro level of the project,micro-level government and corporate level.Finally,we propose the governance recommendations for the prevention of opportunistic behavior in the project and the healthy operation of the PPP project:the overall project level will make recommendations from the establishment of a special PPP superior method and the establish ment of a complete regulatory system;the governmentlevel will observe the principles when designing cooperation contracts.Overcome traditional administrative concepts,cultivate contract spirit,enhance trust,and establish information disclosure mechanism s to restrain themselves;At the enterprise level,from the spirit of observance of contract and strengthen communication and consultation with government,achieve information sharing and strengthenthe sense of responsibility for strengthening cooperation.Suggestions are made in order to standardize the cooperation between the government and enterprises in project cooperation and promote the standardized and healthy development of PPP projects.