Research On Influencing Factors Of State-owned Construction Enterprises Participating In The Pre-operational Of PPP Projects

As a widely concerned investment and financing model in recent years,PPP model can not only effectively alleviate the shortage of public infrastructure construction funds,but also become the main growth point for the contract amount of major construction enterprises.The large scale,high qualification reputation and strong construction capacity of state-owned enterprises are more likely to be accepted by local governments,and they occupy a considerable share in the PPP market.State-owned construction enterprises also regard PPP model as the big dividend of market development,and the number and scale of PPP projects will continue to increase in the future.However,state-owned construction enterprises have not been involved in PPP projects for a long time,and they do not have a comprehensive understanding of the factors affecting the investment of PPP projects.If their operation is improper in the early stage of the project,they will not only spend a huge amount of investment costs,but also face more serious problems in the follow-up implementation of the project,and even lead to the failure of the project investment.From the perspective of construction state-owned enterprises,based on the literature analysis and the case study of T Construction Group’s PPP projects,summarizes the factors that influence the early operation of participating in PPP projects.The investment amount,cooperation term,return mechanism,local finance,project type,region and operation mode are included in the Tobit regression model.Regression results show that state-owned construction enterprises are more inclined to participate in the smaller investment,cooperation period shorter,the users pay reward system and TOT+BOT or BOT way,emerging PPP projects.Meanwhile,their are more willing to participate in PPP projects in Chongqing,Shan xi,Guang dong,Guang xi.Finally,on the basis of the full study,combined with the characteristics of the PPP project in which T Construction Group participated,and puts forward some suggestions on screening and evaluation,project bidding and negotiation and project funds in place in the early stage of PPP projects.And other large construction enterprises also have a certain universal values and guiding role.