摘要
运用结构方程模型(SEM)构建我国PPP项目可融资性影响因素理论模型,使用1,010份调查问卷获取数据,利用SPSS22.0、AMOS17.0等量化工具实证研究了中国政府与社会资本合作(PPP)项目可融资性的影响因素。实证结果显示:公司融资能力相适性、项目可实现性和财务可持续性对PPP项目可融资性具有显著正向影响;财务可持续性分别在公司融资能力相适性、项目可实现性、政府履约保障可靠性、增信措施有效性与PPP项目可融资性之间具有中介作用,而在金融生态环境稳定性与PPP项目可融资性之间不具有中介作用。最后,分别从政府方、社会资本方和银行的角度提出政策建议。
This paper builds the theoretical model regarding the determinants of bankability of PPP project by Structural Equation Model(SEM),and empirically studies the determinants of bankability of Chinese public private partnership(PPP)projects by SPSS 22.0 and AM0S17.0 based on the data obtained by 1,010 questionnaires.Empirical results show that the adaptability of corporate financing ability,the feasibility of project and financial sustainability have significant and positive impacts on the bankability of PPP projects.Financial sustainability plays an intermediary role on the adaptability of the companys financing ability,the feasibility of project,the reliability of government performance guarantee,the effectiveness of credit enhancement measures and the bankability of PPP projects.However,it has no intermediary impact between the stability of financial ecological environment and the bankability of PPP projects.Finally,it puts forward the policy recommendations to improve the bankability of PPP projects in China from the perspectives of government,social capital and banks respectively.
作者
李晓斌
顾新
赵红梅
LI Xiao-bin;GU Xin;ZHA Hong-mei(School of Business,Sichuan University,Chengdu 610064;School of International Studies,Sichuan University,Chengdu 610064;Chengdu Finance Bureau,Chengdu 610041;Chengdu Soft Innovation Intelligence Association,Chengdu 610023;Shanghai Construction E-Commerce Co.,Ltd.Shanghai 200050)
出处
《软科学》
CSSCI
北大核心
2022年第1期24-29,共6页
Soft Science
基金
成都市软科学研究项目(2017-RK00-00237-ZF)。
