Research On Benefit Allocation Of Urban Rail Transit Projects Under PPP Mode

As a new way of financing cooperation,PPP mode effectively alleviates the pressure of government expenditure,broadens the channels of project development,and greatly improves the supply efficiency and quality of public goods.Due to the difference between the interests and the status of the government and enterprises,in order to ensure the stability of bilateral cooperation,enhance the enthusiasm of bilateral cooperation and maximize the overall benefit,a reasonable profit distribution plan is very necessary.At the same time,urban rail transit project as a key area of implementing PPP mode,has the characteristics of large investment,relatively low economy,and often cannot recover the cost.Reasonable and effective distribution of interests is the key to motivate social capital to participate in PPP project cooperation and ensure the smooth implementation of the project.This paper takes the urban rail transit project under the PPP mode as the research object,and takes the theory of public-private partnership,game theory and contract theory as the theoretical support,so as to realize the balance of interests as the final criterion.Based on the cooperation and win-win premise,the first consideration is that the government is in the advantage and dominant position in the PPP project,and holds the initiative to the distribution of the interests.It is proposed that the benefit allocation scheme should be based on the principle that the government leads and satisfies the return of the enterprise's benchmark investment.And the cost-benefit analysis method is used to identify and measure the benefit and cost of urban rail transit PPP project,which lays the foundation for the formulation of the benefit allocation scheme.Then,after analysis the reasons for the conflict of interests and the contractual relationship between the government and the enterprises,as well as the models and methods of the PPP project benefit distribution,according to whether the project income can meet the benchmark investment return of the enterprise,combined with the characteristics of the benefit spillover of the urban rail transit project,we draw up the basic assumptions and parameters of the model,establishment of a bargaining model based on government led rotation quotations and use the backward induction method to get the profit distribution plan meeting the needs and satisfaction of both sides.Finally,Finally,based on the relevant data of the actual subway projects,we identify and measure the benefits and costs of the project implementation.After evaluating the parameters by expert scoring and fuzzy comprehensive evaluation,according to the cash flow of the project and the return status of the firm's benchmark investment,the interest distribution scheme is used to determine the interests of the government and the enterprise,and compared with the actual distribution scheme to verify the scientificity and rationality of the model.The study shows that the benefit allocation of urban rail transit PPP project under government led should consider the size of indirect benefit.The amount of profits from both sides is related to the loss of negotiation and the attitude of the government,and is also closely related to the direct and indirect benefits generated by the implementation of the project.The reasonable benefit allocation scheme is the basis for ensuring the long-term cooperation between the government and the enterprises.Through the research of city rail traffic PPP project benefit distribution,can effectively enhance the enthusiasm of enterprises to participate in the project,to encourage social capital to participate in PPP project cooperation,to promote the optimal allocation of resources,so as to enhance the efficiency and quality of public goods supply,accelerate the city rail transit construction project investment.