Research On Quasi-profit PPP Project Financing Risk Based On Social Network Analysis

With China into the "13th Five-Year" stage of development,the state strongly advocates accelerating institutional mechanism formation and new-normaldevelopment of economy.The financing mode of PPP project(Public-PrivatePartnership)is necessary and feasible for public infrastructure construction,because of large investment demand,non-enough government appropriations of construction and rapid development of private economy.The Quasi-profit PPP financing not only has a long construction period,large investment,long period of monopoly or recovery risk,but also because the complexity of operation mode and make the risk increase.To this end,this paper studies the financing risks of Quasi-profit PPP project and gives some management suggestions.PPP mode is still developing and need more exploration in China.Enterprises are generally not aware of PPP mode risks.They also ignored the differences in risk caused by different operating modes.By analyzing Chinese Quasi-profit PPP financing mode,this paper combes the concept and characteristics of the Quasi-profit PPP financing risks.The characteristics of stakeholders of this project is summarized.Therefore,this study provides the theoretical basis for the enterprise to recognize the Quasi-profit PPP financing risks.The stakeholder is identified by the way of project financing.According to the degree of its participation,initial risk factors list related to the stakeholders is obtained though the literature survey method.Through the questionnaire survey,the occurrence probability and the degree of impact on the project are carried out to obtain the list of risk factors.According to the stakeholders,the risk factors are clustered by K-means method to simplify the research process.The model of the PPP project financing risk is set up based on the actual project operation.The social network analysis of the risk factors is carried out,and the strategies and testing methods of risk control are put forward.Taking the C cities' project as an example,this paper uses a social network model to analyze financing risks of this project.The Ucinet6.0 software is used to analyze the network data.The key risk factors of this project are obtained.Through controlling the key risks,the network is optimized to reduce density and mutual influence of risks.The results are applied to the actual Quasi-profit PPP project financing risk management and provides some guidance for the implementation and risk management of the project.