摘要：基于养老地产PPP项目的运作模式，选择政府、社会资本方和其他利益主体作为利益相关者，详细探究其角色定位和利益诉求。在此基础上建立基于Shapely值法的养老地产PPP项目利益分配模型，并综合考虑股权占比、风险承担大小、贡献程度和合同履约度对利益分配的影响，对模型进行修正。最后，引入实例验证模型的可行性和有效性，为PPP项目利益分配提供借鉴。

关键词：养老地产；PPP；利益相关者；利益分配

Abstract：This paper selects the government，social capital and other stakeholder as the relevant stakeholders and makes research on their role orientation and interest demands on the basis of the senior housing PPP project operation model. Based on this，establishes the Shapely value distribution model of senior housing PPP projects，considers the four factors which making influence on the profit distribution as follows：equity structure，risk-sharing ratio，contribution and degree of contract performance，further revises the model. Finally，verifies the feasibility and the validity of the model by an actual example，provides reference for profit distribution in PPP project.

Keywords：senior housing；PPP；stakeholders；profit distribution

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