Remuneration models and revenue risk mitigation in road public-private partnership projects - a case study from Serbia
| Autor: | Cesar Queiroz, Slaven Tica, Nevena Vajdic, Dejan Zlatkovic, Goran Mladenovic |
|---|---|
| Rok vydání: | 2017 |
| Předmět: |
Finance
050210 logistics & transportation 050208 finance Actuarial science 9. Industry and infrastructure business.industry 05 social sciences Geography Planning and Development Public sector Transportation road transport remuneration models Public–private partnership General partnership 0502 economics and business Economics Remuneration Revenue Cash flow revenue risk mitigation business Risk management Public-private partnership Transport infrastructure |
| Zdroj: | Transportation Planning and Technology |
| Popis: | As a consequence of renewed interest in attracting private financing for infrastructure investments, public–private partnership (PPP) arrangements are mostly seen as a suitable mechanism for ensuring sound and quicker delivery of transport infrastructure projects. However, a general concern is that expectations of mobilizing private-sector funds have been overestimated in a number of cases. The purpose of this paper is to contribute to the risk analysis of transport PPP projects with substantial exogenous demand risk which could serve as a rationale for choosing the appropriate PPP model. The objective of this paper is to construct an analytical cash flow-based project model to facilitate the choice of the remuneration mechanism suitable for both private investors and public sector. The model provides an indication whether the project should be implemented as a ‘users pay’, a hybrid or an ‘annuity’ PPP model. The proposed methodology is illustrated using a case study from Serbia. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|