基础设施建设PPP项目的财务风险研究——以英国建筑商Carillion为例.pdfVIP

摘 要 近年来，我国正逐渐大力推行 PPP 项目模式，面对国内这股PPP 模式的热 潮，越来越多的建筑企业正不断参与进来，但参与 PPP 模式建设还有一定的财 务风险，所有对于 PPP 基础设施建设项目可能产生的财务风险以及如何预防和 掌控也逐渐成为建筑企业的关注点。而目前对于 PPP 基础设施建设的认识，政 府和相关项目公司还大多停留在风险识别和风险防范的基础阶段，更没有相关 针对的法律制度的保障。 本文采用案例分析的方式，对于国内外 PPP 项目财务风险相关文献进行梳 理，并结合英国典型PPP 项目的案例，对其PPP 项目进行全面的财务项目分析， 试图对比我国现行的 PPP 项目的实际运营情况，以财务管理相关理论概念为基 础，分析 PPP 基础设施建设在我国运营过程中产生的问题，并结合案例分析， 提出相应的相关完善措施。本文在对英国 PPP 项目案例分析后发现，主要存在 筹资、投资和运营等风险，并在此基础上对此进行相关财务测算，如盈利能力 分析、偿债能力分析等，发现其中阿伯丁西部外围公路项目的盈利能力和偿债 能力都不是很强，并找出其他影响财务风险的因素，结合财务风险管理的相关 理论，提出合理的控制与预防措施。并试图找出对我国 PPP 项目值得借鉴的地 方，促使我国的基础设施建设PPP 项目在财务风险方面做到最好。 关键词：PPP 模式；财务风险；财务风险管理 I Abstract In recent years, our country is gradually push forward the PPP project mode, the face of the PPP mode, more and more construction enterprises are involved, but there is a certain financial risk involved in the PPP mode construction, all for the PPP infrastructure projects may produce financial risk and how to prevent and control also gradually become the focus of building enterprise. However, for the current understanding of PPP infrastructure construction, the government and related project companies still mostly stay in the basic stage of risk identification and risk prevention, let alone the relevant legal system. This paper with the method of case analysis, for the PPP project financial risk related literature at home and abroad, attempts to compare the current of the actual operation of the PPP projects, based on the financial management theoretical concepts, analysis of the PPP infrastructure construction problems in the process of operation in our country, and combining with case analysis, put forward perfect measures. In Britain after the PPP project case analysis found that the main risk, on this basis to relevant financial measure, solve