不同投融资模式对公路建设风险控制的影响

The Effects of Investment and Financing Mode on Risk Control of Road Construction

投资主体多元化、投资方式多样化是公路建设投融资模式发展的新趋势,这为我国公路建设及经济社会发展提供了强有力的支持。文章从公路投融资模式中不同的参与主体和运作方式入手,以不同投融资模式下公路建设项目分析及控制的全过程为主线,基于委托代理理论和博弈模型,对不同投融资模式对公路建设各阶段的风险影响和风险要素进行了分析,构建不同投融资模式下公路建设风险分担模型,报告了公路建设项目在不同投融资模式下的风险如何分担和投融资模式的选择问题,明确了引入社会资本的多种投融资模式对风险分担和风险控制的重要影响,提出相应的风险管理对策,为公路建设项目建立科学合理的风险控制机制奠定了理论基础,有利于促进公路建设的可持续发展。

Diversified sources of investment has developed into an efficient widely method, which can provide the powerful support for highway construction and economic and social development. This paper analyses the effects of investment and financing mode on risk of road construction by comparing the different major participants and operation pattern, upon which we build the risk sharing model based on principal agent theory and game theory. In this paper, the whole process for highway construction project financing analysis and risk controlling are discussed in detail. Then, we analyze the risk sharing in different investment and financing modes, which is useful for analyzing highway construction project financing risk and financing＇s structure. Thus we propose the risk management strategies of highway construction in different investment and financing modes.