Research On Income Distribution Of Toll Road PPP Project Based On Shapley Value Model

In recent years,the domestic economy and society have developed rapidly,and the requirements of industrial production and mass travel on road transportation have also continued to increase.Therefore,it is necessary to increase investment in highway construction and operation.Expressways have the characteristics of high technical requirements,long payback periods,and large initial investments.The traditional construction model has caused local governments to face huge financial pressures and affect the development of expressways.In 2014,the government and social capital cooperation model(PPP)began to receive attention and application in China.Through the introduction of private capital and advanced technology in highway construction and operation,the pace of highway investment and financing reform and innovation was accelerated,and at the same time,it was Construction and development provide new impetus.With the rise of the PPP model in the expressway field,issues such as project investment and financing management and risk sharing have always received the attention of academia and project practice,but there is little research on the income distribution of expressway PPP projects.Whether the income distribution is reasonable or not is not only related to the foundation of capital cooperation between government and enterprise,but also closely related to risk sharing,division of functions,and cooperation efficiency,which determines the success or failure of the project.Therefore,it is very important to carry out research on the income distribution of toll road PPP projects.Firstly,this paper analyzes the important theories related to the PPP model of toll road and the income distribution,and thinks that the Shapley theory is suitable for the income distribution of toll road,this paper expounds the present problem of the earnings distribution of the domestic toll road PPP project,analyzes the chief problems existing in the project,and puts forward the solution of establishing the income distribution model of the toll road,this paper determines the influencing factors of the Shapley allocation model for the PPP project of the toll road,and based on the Shapley allocation model,a modified Shapley income allocation model is established,different from the previous method of using ahp to calculate the weight of each factor,this paper improves the accuracy of weight calculation by using modulus and entropy comprehensive evaluation method,and then calculates the income distribution value of the two sides of the project.At the same time,unlike other studies which only focus on PPP income adjustment in the early stage of decision-making,the income adjustment in this paper is aimed at PPP projects that have already entered the construction and operation period,and can not change the result of income distribution through pre-contract negotiation,therefore,the paper studies the practical operating approach of the income scheme from the model,aiming at the practical operating problems faced by the h highway PPP project when it enters the operating stage,this paper puts forward the concrete implementation way of this project income adjustment scheme,and through the income calculation,it is concluded that this combination scheme can meet the implementation requirements of the income distribution of PPP projects calculated by the Shapley value model,and meet the interests and concerns of both the government and enterprises,it avoids the risks associated with the project process and financial management system to the greatest extent and has a high Operability.Finally,the paper makes a summary of experience and suggestions based on the project practice,hoping to provide guidance for the reasonable distribution of similar projects.