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Title: |
The Risk Sharing Mechanism for B-SO-T Projects in Urban Rail Transit |
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Source: |
International Conference on Engineering and Business Management 2012(Part 2 Enterprise Operation and Management（2）)
(pp 1193-1197)
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Author(s): |
Na Wu, Beijing Jiaotong University, Beijing, China, 100044
Liyuan Shang, Beijing Jiaotong University, Beijing, China, 100044 |
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Abstract: |
B-SO-T is an abbreviation for Build-Subsidize in Operation-Transfer, which is one of the most effective modes for Public-Private Partnership (PPP) projects. However, its application is still immature in the field of urban rail transit in China. This paper aims at developing an equitable risk sharing mechanism for B-SO-T projects, which is a key factor of successful B-SO-T application. Firstly, it puts forward the definition and the structure of B-SO-T. Secondly, many crucial risk factors are presented in view of public sector and private sector. Then, based on shapley value, a risk sharing model is carried out to evaluate the allocation among partners. By quantitative analysis, it’s our goal to distinguish the rights and obligations between public and private, thus to enhance the B-SO-T projects’ performance in the urban rail transit in the PRC.
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