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BOT project company's shareholder structure and shareholder behavior characteristics of selected

Author: ZuoTingLiang
Tutor: WangJianQiong
School: Southwest Jiaotong University
Course: Business management
Keywords: BOT Shareholder Structure Project benefits The stability of the project company Shareholders' behavior
CLC: F276.6;F224
Type: PhD thesis
Year: 2011
Downloads: 178
Quote: 0
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Abstract

With the rapid socio-economic development of the world, especially in developing countries facing large infrastructure needed a lot of money and lack of conflict between the government investment. The use of BOT model can absorb a large number of private capital or international funds to support social and economic development, to address the economic development process of developing countries in this conflict, so in recent years BOT project financing construction model has been relatively fast development of research on the BOT model is also increasing. However, most of these studies focus on the determination of the concession period, risk-sharing, price, price adjustment mechanism, government guarantees, etc., involving BOT project company shareholder structure and the corresponding benefits under the shareholder structure of the problem is very small, and BOT Select the project company's shareholders and its decision-making behavior is the key to the success of BOT projects one of the factors. So this choice on the company's shareholder structure BOT project selection and decision-making behavior research, in order to ongoing and future BOT projects will be implemented to provide theoretical guidance in decision-making, and its main contents are as follows: Firstly, shareholders of the Company for the BOT project classification and shareholder structure analysis. Composition BOT project company's shareholders include the following three types: professional company formed by the BOT project company formed by the pure investor BOT project companies and professional firms have both formed of pure investors BOT project companies analyzed these three kinds of advantages and disadvantages of BOT project companies; and defines the BOT project company shareholder structure consisting of six cases: the construction business as a BOT project company's shareholders, operators as BOT project company's shareholders, equipment suppliers as a BOT project company's shareholders, international trading company as a BOT project company's shareholders, investors pure BOT project company's shareholders as well as other companies as BOT project company's shareholders. Revenue analysis of the problem is to study the structure of BOT project company's shareholders choose one of the key elements. Papers To illustrate the issue of convenience, it is assumed composition of BOT project company consisting of only two shareholders, two cases from the perspective of principal-agent theory to analyze two kinds shareholder structure under BOT project the company's earnings and shareholder returns: a builders to choose one of the shareholders as a BOT project companies, their investors and shareholders are pure comparing the situation, shareholder structure comparison of the two projects under the BOT proceeds through model building and solving other analysis, concluded that : BOT project builders as one of the shareholders of the project company earnings, better than all the BOT projects are pure investors, shareholders of the Company in case of income, social benefits in this case has also been improved. In this chapter, the paper also gives the project sponsor allow builders optimal equity ratio; two is to select carriers BOT project companies as one of the shareholders, its investors and shareholders are pure were compared, comparison of the two Shareholder structure of BOT projects proceeds through model building and solving other analysis, the conclusion is: the operator as one of the shareholders of the BOT project companies project company earnings, better than all the BOT projects are pure investors, shareholders of the Company in case of gain, in this case has also been improved social benefits. The paper also gives the project sponsor allow operators optimal equity ratio. These studies concluded that the formation of BOT project companies how to choose the right project company shareholder structure provides a good theoretical basis. Two shareholder structure in the study under BOT project companies and the circumstances of each shareholder's income, the paper BOT project company's stability and behavioral characteristics were studied. In order to facilitate research papers BOT project company's shareholders will simplify construction contractors, equipment suppliers and major investors, and then calculated based on assumptions and suppliers of building the optimal probability of fraud, on this basis, through further research show that the stability of the project company to be verified with the fraud penalty is closely related, and as a fake investigation costs to a certain level, the project company will have better stability. On the other hand, the project company has three shareholders in the case, the shareholders will not be like the intent of fraud, as only two shareholders only weigh the probability that they have been verified, the intensity of punishment and investigate their own costs, while also considering other shareholder fraud probability distribution and the project company's equity and will compare their own fraud and other shareholder fraud relative gains. According to the BOT project companies stable shareholders in case of fraud behavior analysis for investors suggested some measures. These studies concluded that the BOT project company's shareholders on how to make reasonable decisions provide a better theoretical basis. In the previous study, based on further construction business as a BOT project to analyze the behavior of shareholders of the Company. Through model building and solution, obtained builders greatest effort to make the conditions and gives builders as a BOT project company's shareholders in case of some of the recommendations. And confirmed by an example of some of the conclusions of this paper.

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CLC: > Economic > Economic planning and management > Economic calculation, economic and mathematical methods > Economic and mathematical methods
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