| Currently,China’s economic development is facing downward pressure,and the task of preventing and controlling financial risks is still arduous.Adopting the PPP project model not only helps the government control the increase of implicit debt and reduce the pressure on government financial expenditure,but also helps to fully utilize the advantages of social capital in technology,management,construction,operation,and other aspects.PPP projects have the characteristics of large investment amount,long investment cycle,and slow cost recovery.The financing risk management of PPP projects directly affects the smooth implementation of the project and also affects the final income of the project.Therefore,strengthening the research on PPP project financing risk management is not only conducive to the risk control of the project itself,ensuring the smooth progress of the project,but also conducive to the further development of the PPP model in China.LB Construction Group Co.,Ltd.is the social capital party of G County’s education and sports infrastructure PPP project,and has participated in PPP project cooperation for the first time.This article analyzes the financing risk management of PPP projects from the perspective of social capital,which is beneficial for ensuring the smooth implementation of the PPP project for education and sports infrastructure in G County;It is also beneficial for the social capital side of similar PPP projects to gain experience and reference.On the basis of elaborating on risk management theory,stakeholder theory,and other theories,this article effectively identifies and quantifies the financing risks of G County’s education and sports infrastructure PPP project.The full text is divided into six parts.Firstly,it introduces the research background and significance of PPP project financing management,sorts out domestic and foreign research materials,and briefly describes the research ideas and methods of PPP project financing risk management.Then,introduce the relevant concept definition and theoretical basis in the research on PPP financing management in this article.Thirdly,introduce the general situation of LB Construction Group Co.,Ltd.,the social capital party of the education and sports infrastructure PPP project in G County,and the basic situation of the PPP project,and use the literature analysis method and Delphi method method to identify the financing risks of the education and sports infrastructure PPP project in G County,and confirm the final risk list.Fourthly,the Analytic Hierarchy Process and Fuzzy Comprehensive Evaluation Method are used to evaluate the financing risks of the education and sports infrastructure PPP project in G County,analyzing the relative importance and overall risk level of financing risk influencing factors.Fifthly,propose suggestions for addressing the financing risks of the education and sports infrastructure PPP project in G County.Finally,the conclusion,shortcomings,and prospects of this article are proposed.The conclusions of this study are as follows: First,based on the preliminary identification of financing risk factors by the literature analysis method and the re identification of financing risk factors by the Delphi method method,this paper obtains 22 typical risk factors in the financing risks of the education and sports infrastructure PPP project in G County.Secondly,based on the Analytic Hierarchy Process,this article prioritizes the sources of financing risks for the education and sports infrastructure PPP project in G County.It is found that construction risks have the greatest impact on PPP project financing risks,followed by policy risks,financing risks,and operational risks;By using the fuzzy comprehensive evaluation method,the overall risk level evaluation level of the financing risk of the education and sports infrastructure PPP project in G County is determined to be relatively high.The third is the comprehensive financing risk assessment results.Further analysis shows that the financing risks of PPP projects are mainly due to the lack of strong guarantee for project income,the single financing structure of social capital,and the need to strengthen project construction management.Finally,this article focuses on the main causes of financing risks in PPP projects. |
