Concession period is a key factor in the arrangement of a build-operate-transfer(BOT) contract. This paper proposes a stochastic concession period model for infrastructure projects under a BOT scheme, which takes into...Concession period is a key factor in the arrangement of a build-operate-transfer(BOT) contract. This paper proposes a stochastic concession period model for infrastructure projects under a BOT scheme, which takes into account the impact of risks and the risk attitudes of the private investor and the government. A hypothetical case is simulated by using the Monte Carlo simulation method to illustrate the proposed model. The results indicate that even for a project with the same estimations, the concession interval can be different and depends a lot on the risk attitudes of the private investor and the government. The proposed model provides a more reasonable concession interval based on which a specific concession period can be obtained through negotiation between the two parties.展开更多
BOT is a new investment and financing model to find favor with many countries because of its own characteristics and advantages. The paper takes analysis on its characteristics and the main risk factors of the Chinese...BOT is a new investment and financing model to find favor with many countries because of its own characteristics and advantages. The paper takes analysis on its characteristics and the main risk factors of the Chinese pro-poverty-tourism category BOT project based on the projects related to the domestic and international risk management, and gives some relevant preventive measures.展开更多
基金the Research Project Ministry of Housing and Urban-Rural Development of PRC(No.2011-123-22)Fund of China International Contractors Association
文摘Concession period is a key factor in the arrangement of a build-operate-transfer(BOT) contract. This paper proposes a stochastic concession period model for infrastructure projects under a BOT scheme, which takes into account the impact of risks and the risk attitudes of the private investor and the government. A hypothetical case is simulated by using the Monte Carlo simulation method to illustrate the proposed model. The results indicate that even for a project with the same estimations, the concession interval can be different and depends a lot on the risk attitudes of the private investor and the government. The proposed model provides a more reasonable concession interval based on which a specific concession period can be obtained through negotiation between the two parties.
文摘BOT is a new investment and financing model to find favor with many countries because of its own characteristics and advantages. The paper takes analysis on its characteristics and the main risk factors of the Chinese pro-poverty-tourism category BOT project based on the projects related to the domestic and international risk management, and gives some relevant preventive measures.
