| The mode of cooperation between government departments and social capital,the PPP model,has been widely used in various constructions,especially in the infrastructure construction.2015 was the blowout year of the PPP project and 2016 was the landing year of the PPP project.The research related to the PPP projects also attracted the attention of many researchers.The past researches focused on risk sharing and funding of project construction.Based on the agency-agent theory,the past researches focused on the agent companies.Starting with the official background characteristics,this article considers the non-systematic risk and instability of the PPP project and studies separately about the effect of age and regional identity of the officials’ background characteristics on the instability of the PPP projects based on the Chinese system and the market environment.This article also discusses the role of marketization index and government-enterprise linkages in regulating the influence of official background characteristics and the instability of the PPP projects.This paper adopts the collection method of second-hand data,integrates the PPP projects in 2014 and before,and taps information related to the project,such as the province of project,project amount,contract term,contracted company,and then mayor,etc.After quantitative processing,regression and other related processing are performed.The empirical study finds that there is a positive correlation between the age of officials and the instability of the project,and there is a negative correlation between official identification and project instability.The marketization index weakens the positive correlation between the official age and the instability of the PPP project.Government-enterprise association weakens the negative correlation between the official identity and the instability of the PPP project.Finally,this paper discusses the results of data analysis,and emphasizes the important role of government internal control and enterprise risk aversion options to ensure the stability of PPP projects,and looks forward to future research. |
