Research On Redistribution Of Interests In PPP Infrastructure Renegotiation

As a means to solve the financial pressure of the public sector,since the 1980s,public-private partnership(PPP)has been applied to infrastructure construction.PPP project concession period of 10 to 40 years or so,the participants can not predict all the risk factors in the project process,if the contract does not agree that the risk of the original interests of the distribution plan is no longer adapt,it is possible in the renegotiations redistribution of interests.Reasonable and fair redistribution of interests is to ensure the smooth progress of the means of renegotiations.Through the background of the present situation firstly,the research situation at home and abroad to study the issue is summed up and the content of this study and technical route are determined.Secondly,the PPP infrastructure concept is summarized,and then based on the basic theory such as PPP basic theory,incomplete contract theory and game theory,the concept,causes and processes of the renegotiation are described.Based on this,the concept of redistribution of interests is defined furtherly,the causes are analyzed,and the stakeholders in the PPP renegotiation are classified.The core stakeholders as the main body to discusses the status difference and the interest orientation of the public and the private parties in the renegotiation,and the influencing factors,the distribution principle,the process of the interests redistribution are summed up,which to provides the theoretical basis and logical relation for the establishment of the model.Thirdly,the framework of the redistribution of interest is established.Through the theoretical model,the five factors of investment proportion,contract execution degree,contribution degree,status of both parties and risk sharing coefficient are revised,and then the distribution plan is further determined according to the satisfaction degree.To facilitate the renegotiation of the efforts of the factors to determine the final.Finally,a case study is conducted and the applicability of the results is analyzed.The impact of the negotiations can be positive.Reasonable redistribution of interests is an important factor in the success of negotiations,to a certain extent,to avoid opportunism.Reasonable renegotiation as a tool to help offset contract loopholes,can promote Pareto improvement,so that the smooth implementation of the PPP project.The process of redistribution of interests is affected by numerous factors,and it is necessary to adjust the consultation constantly,and to promote transparency of the information will also help to make the redistribution of interests fair.