Research on the Value Improvement Model of Private Parties as “Investor–Builder” Dual-Role Entity in Major River Green Public–Private Partnership Projects
In Public–Private Partnership (PPP) projects, the structure of the Special Purpose Vehicle (SPV) significantly impacts the value enhancement of projects. This study conducted a quantitative analysis of value enhancement in green PPP projects under single- and Dual-Role entity models and examined exi...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-11-01
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| Series: | Buildings |
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| Online Access: | https://www.mdpi.com/2075-5309/13/11/2881 |
| _version_ | 1797459830385934336 |
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| author | Jianyi Zhang Jingchun Feng Ke Zhang Xun Han |
| author_facet | Jianyi Zhang Jingchun Feng Ke Zhang Xun Han |
| author_sort | Jianyi Zhang |
| collection | DOAJ |
| description | In Public–Private Partnership (PPP) projects, the structure of the Special Purpose Vehicle (SPV) significantly impacts the value enhancement of projects. This study conducted a quantitative analysis of value enhancement in green PPP projects under single- and Dual-Role entity models and examined existing SPV private party compositions. A quantitative model was developed to enhance the value in green PPP projects through a Dual-Role “investor–builder” entity approach, comparing it with the single-role entity model. The findings indicate that in the Dual-Role entity mode, the construction party demonstrates a greater willingness to effort, resulting in shorter construction timelines and improved economic benefits for the project company. The preferred equity range for private parties escalates with the total project investment and the extent of “political support”. Nevertheless, a disproportionately high government stake in the equity is detrimental to the value enhancement in PPPs, and excessive government regulation and control should be avoided. This quantitative model serves as a decision-making criterion for selecting the SPV mode and provides an alternative approach for evaluating PPP project performance. |
| first_indexed | 2024-03-09T16:57:30Z |
| format | Article |
| id | doaj.art-44f009dfcfa94039a2215f9108a40f30 |
| institution | Directory Open Access Journal |
| issn | 2075-5309 |
| language | English |
| last_indexed | 2024-03-09T16:57:30Z |
| publishDate | 2023-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Buildings |
| spelling | doaj.art-44f009dfcfa94039a2215f9108a40f302023-11-24T14:33:47ZengMDPI AGBuildings2075-53092023-11-011311288110.3390/buildings13112881Research on the Value Improvement Model of Private Parties as “Investor–Builder” Dual-Role Entity in Major River Green Public–Private Partnership ProjectsJianyi Zhang0Jingchun Feng1Ke Zhang2Xun Han3Business School, Hohai University, Nanjing 211100, ChinaBusiness School, Hohai University, Nanjing 211100, ChinaBusiness School, Hohai University, Nanjing 211100, ChinaNanjing Hydraulic Research Institute, Nanjing 210029, ChinaIn Public–Private Partnership (PPP) projects, the structure of the Special Purpose Vehicle (SPV) significantly impacts the value enhancement of projects. This study conducted a quantitative analysis of value enhancement in green PPP projects under single- and Dual-Role entity models and examined existing SPV private party compositions. A quantitative model was developed to enhance the value in green PPP projects through a Dual-Role “investor–builder” entity approach, comparing it with the single-role entity model. The findings indicate that in the Dual-Role entity mode, the construction party demonstrates a greater willingness to effort, resulting in shorter construction timelines and improved economic benefits for the project company. The preferred equity range for private parties escalates with the total project investment and the extent of “political support”. Nevertheless, a disproportionately high government stake in the equity is detrimental to the value enhancement in PPPs, and excessive government regulation and control should be avoided. This quantitative model serves as a decision-making criterion for selecting the SPV mode and provides an alternative approach for evaluating PPP project performance.https://www.mdpi.com/2075-5309/13/11/2881Dual-Role entitymajor river green PPP projectsvalue improvementwater environmentprincipal–agent theory |
| spellingShingle | Jianyi Zhang Jingchun Feng Ke Zhang Xun Han Research on the Value Improvement Model of Private Parties as “Investor–Builder” Dual-Role Entity in Major River Green Public–Private Partnership Projects Buildings Dual-Role entity major river green PPP projects value improvement water environment principal–agent theory |
| title | Research on the Value Improvement Model of Private Parties as “Investor–Builder” Dual-Role Entity in Major River Green Public–Private Partnership Projects |
| title_full | Research on the Value Improvement Model of Private Parties as “Investor–Builder” Dual-Role Entity in Major River Green Public–Private Partnership Projects |
| title_fullStr | Research on the Value Improvement Model of Private Parties as “Investor–Builder” Dual-Role Entity in Major River Green Public–Private Partnership Projects |
| title_full_unstemmed | Research on the Value Improvement Model of Private Parties as “Investor–Builder” Dual-Role Entity in Major River Green Public–Private Partnership Projects |
| title_short | Research on the Value Improvement Model of Private Parties as “Investor–Builder” Dual-Role Entity in Major River Green Public–Private Partnership Projects |
| title_sort | research on the value improvement model of private parties as investor builder dual role entity in major river green public private partnership projects |
| topic | Dual-Role entity major river green PPP projects value improvement water environment principal–agent theory |
| url | https://www.mdpi.com/2075-5309/13/11/2881 |
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