Stakeholder Interest Coordination Mechanism In Public Private Partnership (PPP) Project

After entering the new century,although the PPP model has been popularized and applied,the PPP model has not been fully mature in the entire public utilities project construction,and there is no uniform caliber for the cooperation between social capital and the government through which effective cooperation mechanism.Whether the risk sharing is reasonable and how to guarantee the income is the concern of all participants.Therefore,it is necessary to systematically analyze the stakeholders and benefit distribution in PPP projects,so as to form an effective benefit coordination mechanism.Through the analysis of the close relationship between stakeholders and projects,the interest relationship framework can be divided into two types: the core interest relationship and the peripheral interest relationship composed of the middle-end interest relationship and the remote interest relationship.The PPP project company,which consists of the public sector of the government and the private sector of the social capital,plays a dual role in the whole project process.The project company has dual functions different from other participants in the PPP project.It occupies a core position in the whole interest relationship and constitutes a core interest relationship with the project.With the continuous advancement of PPP project construction and operation,due to the contractual relationship or cooperation with other enterprises to speed up the construction progress of the project,improve the operation mechanism,risk guarantee enterprises or organizations,and project constitute the middle-end interest relationship.Individuals or organizations that are not directly involved in the construction or operation phase of a project but have a certain impact on the project or are affected by the project constitute a remote interest relationship with the project.The core interest relationship and peripheral relationship constitute the interest structure of PPP project.From the point of view of the government's public sector's financial output and the social private sector's capital injection,the coordination of PPP project's interest relations can promote the two to give play to their respective advantages and achieve long-term stability in cooperation,which is conducive to the smooth completion of the project to meet the public demand for public goods and public services.Because of the complexity of the interest relationship among the participants in PPP project,the trend of diversification in the dynamic is presented.Therefore,through different visual analysis,we can get three basic interest relationships among the capital attributes,contractual relationship and subject participation of each participant,namely,the public-private interest competition and cooperation relationship.The contractual contract and non contractual interests complement each other,and the interests of all levels co-exist.Through the in-depth analysis of interest relations,we will pave the way for interest coordination.Because of the internal or external uncertainties,the basic interests of PPP model are unbalanced,that is,competition and cooperation turn to discrete breakdown,complementarity and mutual aid turn to deviation and exclusion,symbiosis and coexistence turn to alienation.The risk caused by the imbalance of basic interests will lead to the cautious consideration of social capitalists to cooperate with the government.It will also lead to obstacles in the construction of public utilities projects and the reform of public service system under the PPP mode.To some extent,the construction of PPP interest coordination mechanism can prevent the imbalance of risk production.Sheng,in exploring the root causes of the imbalance of interests and at the same time to find the value of interest coordination,has effectively promoted the healthy development of PPP projects.This paper makes a systematic analysis of the interest relations among the stakeholders in PPP projects,builds the interest distribution model and the risk sharing model for the core interest relations of PPP projects,takes the quantitative analysis of the model as the support,analyzes the intricate interest relationship types and the correlation degree in PPP projects,and successfully analyzes the truth.It is affecting the interest relationship of the company's cooperation process.According to the reasons of the imbalance,the paper designs the overall interest coordination mechanism of PPP project stakeholders,and fully embodies the value of the interest coordination in solving the interest imbalance and constructing the system,so as to ensure the project to achieve the maximum reasonable distribution of interests and risk sharing,and to smooth the PPP project.Promoting profits is of great significance.