[1]杨宏伟,何建敏,周晶.BOT项目“有限追索权”融资方式的风险收益分析[J].东南大学学报(自然科学版),2002,32(6):920-924.[doi:10.3969/j.issn.1001-0505.2002.06.021]
 Yang Hongwei,He Jianmin,Zhou Jing.Analysis of limited recourse financing to a BOT project[J].Journal of Southeast University (Natural Science Edition),2002,32(6):920-924.[doi:10.3969/j.issn.1001-0505.2002.06.021]
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BOT项目“有限追索权”融资方式的风险收益分析()
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《东南大学学报(自然科学版)》[ISSN:1001-0505/CN:32-1178/N]

卷:
32
期数:
2002年第6期
页码:
920-924
栏目:
经济与管理
出版日期:
2002-11-20

文章信息/Info

Title:
Analysis of limited recourse financing to a BOT project
作者:
杨宏伟1 何建敏1周晶2
1 东南大学经济管理学院,南京 210096; 2 南京大学管理科学与工程研究院,南京 210093
Author(s):
Yang Hongwei1 He Jianmin1 Zhou Jing2
1 School of Economics and Management, Southeast University, Nanjing 210096, China
2 Graduate School of Management Science and Engineering, Nanjing University, Nanjing 210093, China
关键词:
BOT 有限追索权 风险
Keywords:
BOT limited resource financing risk
分类号:
F830.592
DOI:
10.3969/j.issn.1001-0505.2002.06.021
摘要:
以基础设施建设为背景,针对BOT项目的有限追索权融资方式,建立了贷方和项目公司之间的风险收益分配模型,根据委托代理的理论和思想,分析了贷方和项目公司的风险态度和风险收益的分配问题,得到了使贷方和项目公司的收益同时达到最优的收益平衡条件,解决了贷方和项目公司之间的利益冲突问题,验证了BOT融资模式的有效性和可行性.
Abstract:
With the background of developments of infrastructure, aiming at limited resource financing to a BOT(build-operate-transfer)project a model of risk-revenue allocation between the lenders and the BOT project company is established. Based on the theory of principal and agent, the problems about risk attitude and risk-revenue allocation of the two sides are analyzed, the condition of revenue equilibrium is found, in which the revenue of the two sides is optimal synchronously, thus solving the revenue conflict between them and validating the effectiveness and availability of the BOT financing mode.

参考文献/References:

[1] Kumaraswamy M M,Zhang X Q.Governmental role in BOT-led infrastructure development [J].International Journal of Project Management,2001,19:195-205.
[2] Tam C M.Build-operate-transfer model for infrastructure developments in Asia:reasons for successes and failures [J].International Journal of Project Management, 1999,17(6):377-328.
[3] Wang S Q,Tiong L K.Case study of government initiatives for PRC’s BOT power plant project [J].International Journal of Project Management,2000,18:69-78.
[4] Chee T S,Yeo K T.Risk analysis of a build-operate-transfer(BOT)power plant project [A].’95 Engineering Management Conference[C].Hong Kong,1995.275-280.
[5] Yang H,Meng Q.Highway pricing and capacity choice in a road network under a build-operate-transfer scheme [J].Transportation Research,2000,34A:207-222.
[6] 张维迎.博弈论与信息经济学[M].上海:上海人民出版社,1996.397-445.
[7] Machina M J.Increasing risk:some direct constructions [J].Insurance:Mathematics and Economics,1997,20:79-84.

相似文献/References:

[1]周晶,何建敏,杨宏伟.基于委托-代理模型BOT模式的有效性分析[J].东南大学学报(自然科学版),2005,35(3):489.[doi:10.3969/j.issn.1001-0505.2005.03.035]
 Zhou Jing,He Jianmin,Yang Hongwei.Effectiveness analysis based on principal-agent model for BOT scheme[J].Journal of Southeast University (Natural Science Edition),2005,35(6):489.[doi:10.3969/j.issn.1001-0505.2005.03.035]

备注/Memo

备注/Memo:
基金项目: 国家自然科学基金资助项目(70071049).
作者简介: 杨宏伟(1975—),男,博士生; 何建敏(联系人),男,教授,博士生导师.
更新日期/Last Update: 2002-11-20