The moderating role of governance environment on the relationship between risk allocation and private investment in PPP markets: Evidence from developing countries
The moderating role of governance environment on the relationship between risk allocation and private investment in PPP markets: Evidence from developing countries
复制标题
治理环境对 PPP 市场风险分配与私人投资关系的调节作用：来自发展中国家的证据
DOI：
10.1016/j.ijproman.2018.10.008
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发表时间：
2019
影响因子：
8
通讯作者：
Jinbo Song
中科院分区：
文献类型：
--
作者：
Huanming Wang;Yuhai Liu;Wei Xiong;Jinbo Song
公私伙伴关系已成为世界各地供应基础设施的一种流行方式。然而，与发达国家相比，大多数发展中国家在过去几年里未能吸引私人投资。风险分配和治理环境（例如，公众参与程度、政治稳定程度、公共服务质量、监管能力、守法程度和腐败程度）都可能是重要因素。为了检验假设，本文以138个发展中国家2002 - 2015年的约4560个PPP项目为样本，运用Tobit回归模型考察了治理环境和私人合作伙伴承担的风险对私人投资的交互作用。结果表明，私人合作伙伴认为，风险较小，可以吸引更多的私人投资，以及更高水平的治理（控制腐败，政府的有效性，监管质量和法治）减少了私人合作伙伴承担的风险对私人投资的负面影响。
PPPs have become a popular way to supply infrastructure around the world. However, compared with developed countries, most developing countries have failed to attract private investment over the past years. Risk allocation and governance environment (e.g., the extent of public participation, the level of political stability, the quality of public services, the ability of regulations, abiding the law, and the extent of corruption) may be important factors. To test the hypotheses, using about 4560 PPP projects in 138 developing countries from 2002 to 2015, this paper applies the Tobit regression model to investigate the interaction effect of governance environment and risk assumed by private partners on private investment. Results indicate that private partners assume that less risk can attract more private investment, and that a higher level of governance (control of corruption, government effectiveness, regulatory quality, and rule of law) reduces the negative influence of risk assumed by private partners on private investments.
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DOI：
10.1111/joms.12270
发表时间：
2017-09
期刊：
ORG: Other Strategy & Organizational Behavior (Topic)
影响因子：
--
作者：
Elisa Villani;L. Greco;N. Phillips
通讯作者：
Elisa Villani;L. Greco;N. Phillips
影响因子：
8.3
作者：
J. Koppenjan;B. Enserink
通讯作者：
J. Koppenjan;B. Enserink
DOI：
10.1007/s10784-008-9066-6
发表时间：
2008-02
期刊：
International Environmental Agreements: Politics, Law and Economics
影响因子：
--
作者：
Nadia Tecco
通讯作者：
Nadia Tecco
影响因子：
2.5
作者：
O. Petersen
通讯作者：
O. Petersen
影响因子：
1.2
作者：
Ryuta Takashima;Kyoko Yagi;H. Takamori
通讯作者：
Ryuta Takashima;Kyoko Yagi;H. Takamori