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Government motivation-embedded return guarantee for urban infrastructure projects based on real options
School of Management. Harbin Institute of Technology.
School of Management. Harbin Institute of Technology.
YueshengFei, Industrial Securities Co.,Ltd.
School of Civil Engineering and Built Environment, Queensland University of Technology.
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Number of Authors: 62016 (English)In: Journal of Civil Engineering and Management, ISSN 1392-3730, E-ISSN 1822-3605, Vol. 22, no 7, p. 954-966Article in journal (Refereed) Published
Abstract [en]

Governments usually guarantee the amount of investment income to private sector partners to encourage their participation in Public-Private Partnership urban infrastructure development projects, with the ‘float return on investment guarantee’ being the main method in use by the Chinese government today. The current problems with the float return on investment guarantee are analysed and a guarantee approach with embedded motivatio nal behaviour is presented as an alternative. A pricing method option is then introduced as the motivation-embedded return guarantee has similar characteristics to real options. From this, a valuation model is developed that provides the basis of a new systematic method for calculating the government guarantee value

Place, publisher, year, edition, pages
2016. Vol. 22, no 7, p. 954-966
National Category
Construction Management
Research subject
Construction Engineering and Management
Identifiers
URN: urn:nbn:se:ltu:diva-8239DOI: 10.3846/13923730.2016.1204362ISI: 000380374500011Scopus ID: 2-s2.0-84978628979Local ID: 6b7fa70c-e828-4c78-8a2f-35803b35c238OAI: oai:DiVA.org:ltu-8239DiVA, id: diva2:981130
Note

Validerad; 2016; Nivå 2; 20160815 (andbra)

Available from: 2016-09-29 Created: 2016-09-29 Last updated: 2018-07-10Bibliographically approved

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Lu, Weizhuo

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CiteExportLink to record
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Citation style
  • apa
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  • vancouver
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More styles
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  • de-DE
  • en-GB
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  • nn-NO
  • nn-NB
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  • Other locale
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Output format
  • html
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  • asciidoc
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