BOT项目的可控制风险研究

中国管理科学 ›› 2005, Vol. ›› Issue (5): 39-43.

BOT项目的可控制风险研究

赵立力, 谭德庆, 黄庆

西南交通大学经济管理学院, 成都, 610031

收稿日期:2005-02-16 修回日期:2005-08-04 出版日期:2005-10-28 发布日期:2012-03-07
基金资助:
国家自然科学基金资助项目(70371045)

Research on Controllable Risk in BOT Projects

ZHAO Li-li, TAN De-qing, HUANG Qing

School of Economics and Management, Southwest Jiaotong University, Chengdu 610031, China

Received:2005-02-16 Revised:2005-08-04 Online:2005-10-28 Published:2012-03-07

摘要/Abstract

摘要： BOT是一种高收益与高风险并存的投资模式,在项目公司无法把握政治风险、商业风险和通货膨胀等不可控制风险的情况下,如何减小或避免可控制的资本结构风险、竣工风险和收入等风险就显得犹为重要。本文通过分析项目公司的参与约束和偿债约束,在定量的确定了项目公司资本结构要求的基础上,给出了避免可控制风险的相关条件。

关键词: BOT, 可控制风险, 资本结构风险, 收入风险, 竣工风险

Abstract: BOT is an investment mode that high revenue and high risk coexist in.Under the condition that project company is unable to grasp uncontrollable risk including political risk,commercial risk,inflation risk,etc,how to avoid controllable capital structure risk,completion risk and revenue risk,etc seems to be more important.Based on the requirement quantitatively deciding project company capital structure,this paper gives the relevant conditions of avoiding the controllable risks through analyzing participation constraint and repay ment constraint.

Key words: BOT, controllable risk, capital structure risk, revenue risk, completion risk

中图分类号:

F224.5

赵立力, 谭德庆, 黄庆. BOT项目的可控制风险研究[J]. 中国管理科学, 2005, (5): 39-43.

ZHAO Li-li, TAN De-qing, HUANG Qing. Research on Controllable Risk in BOT Projects[J]. Chinese Journal of Management Science, 2005, (5): 39-43.

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