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Study on BOT Applied in the Process of Sems’ Financing on Environment Protection in China

Author: CuiZhiFang
Tutor: MengWeiDong
School: Chongqing University
Course: Finance
Keywords: SMEs Project Monitoring BOT pollution control Pollution control alone Toll Pricing
CLC: F205
Type: Master's thesis
Year: 2011
Downloads: 147
Quote: 1
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Abstract


Since the 1990s, China's industrial pollution problem is getting worse. SMEs as the main force to promote the sustained and healthy development of the national economy has become the main source of industrial pollution in China, the pollution load of industrial pollution accounts for about 40% to 50%, and the trend continues to increase, this constitutes a serious threat to the environment. In the solve environmental pollution process, SMEs, due to its own characteristics, it is difficult to raised the funds needed by the pollution prevention and control, thus greatly increased the difficulty of corporate environmental, SME pollution problem became the focus and difficulty of China's environmental governance . Although the Government has put environmental protection projects funds continue to increase in the pollution control process, but they are more of a pollution control projects for large enterprises or large; bank credit funds are mostly preference for large enterprises. SMEs are often difficult to obtain the funds required for pollution control and environmental protection funds for SMEs, at present, mainly rely on its own funds. However, the relevant departments of the state survey shows that 81% of China's small and medium-sized enterprises that one-year liquidity can not even meet the needs of the production, a significant proportion of small and medium-sized enterprises with funds for further development are faced with difficulties, not to mention a residual The funds for the cause of environmental protection. Therefore, SMEs Pollution Prevention facing serious financial bottlenecks. BOT model as an effective use of idle funds at home and abroad financing, if well applied to small and medium enterprises in the environmental process, it is bound to share the huge cost of pollution control, to solve pollution control does not scale problem. Accordingly, the BOT model in the financing of small and medium enterprises and environmental protection analysis and research, the main contents of the study include: ① the current situation of SMEs and environmental protection investment and financing analysis, understanding to improve pollution control financing channels for SMEs the necessity and importance, and pointed out that the BOT as a new financing model to be applied to SMEs pollution prevention and control in the process of feasibility and practical significance. (2) by analyzing the moral hazard behavior of the BOT project companies in the period of operation of the project, to build the government and the project supervision game to study the government's optimal monitoring strategies, analysis of the level of effort of the project, the cost of government oversight, monitoring efficiency and punishment and other factors in the project company for optimal monitoring strategies, and put forward corresponding policy recommendations in order to achieve the purpose of the project company to effectively prevent moral hazard behavior. ③ through the establishment of the project company under the BOT model pollution control pricing and investment decisions, game model to study the conditions for implementation of the BOT pollution control mode and control pollution of the price charged-making process, and comparative analysis of small and medium-sized separate pollution control and BOT pollution control mode production profits, the profits of the project company and the size of the social welfare. Found to work out the price charged in the operation of the market, not only will the sewage business interests received damage, or even lead to the loss of social welfare, resulting in the emergence of the phenomenon of \In this case, the government should control the price of pollution control. Accordingly, we further analyzed how the Government control the BOT pollution control price charged to investment in the not contusion project company under the premise of enthusiasm, to achieve the purpose of guarantee the sewage business interests and social welfare is not reduced. In short, the paper argues that the BOT model is an effective way to solve the environmental protection of SMEs financing difficulties, its use will help improve the efficiency of enterprises to invest in pollution control, in line with the Government to improve the environmental objectives. In order to further improve the operational efficiency of the BOT to prevent water pollution, improve the effect of pollution control during the operation of the project, the government can improve the efficiency of their own supervision, increase penalties to prevent the occurrence of moral hazard behavior of the project company; addition, in order to prevent \failure \

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CLC: > Economic > Economic planning and management > Management of National Economy > Management of resources,environment and ecology
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