PPP项目合理预期回报率确定方法探讨
(深圳达实智能股份有限公司,广东 深圳 518057)
- 文献要素
-
摘要:在分析PPP项目预期回报率设定时的影响因素的基础上,从资本金内部收益率与预期回报率的关系入手,针对PPP项目中公私双方三类主体,即:政府方或其委托的咨询机构、社会资本方中的主要投资人为运营类企业和施工企业,建立适用于这三类主体的合理预期回报率的计算模型并进行应用。最后,总结应用计算模型确定PPP项目合理预期回报率的注意事项,为PPP项目回报设计理论与实践提供参考。关键词:PPP;预期回报率;财务内部收益率;牛顿法;泰勒公式Abstract:Based on the analysis of the relationship between internal return rate of capital and expected return rate,aiming at the three main types of public and private parties in PPP project,namely,the government or its consulting body entrusted by the government,the main investors in social capital are the operational enterprises and construction enterprises,establishes the calculation model of reasonable expected rate of return applicable to these three types of subjects. Finally,summarizes the matters needing attention in determining reasonable expected rate of return of PPP project by using calculation model,provides reference for the theory and practice of PPP project return design.Keywords:PPP;expected rate of return;financial internal rate of return(FIRR);newton’s method;taylor’s formula参考文献[1] 陈宏能,肖靓.如何正确选用PPP项目收益率指标[J].中国投资,2016(9):66-68.[2] 李志勇.PPP项目财务盈利能力分析及应用建议——基于财务内部收益率的分析[J].建筑经济,2018(4):77-80.[3] 李曦.PPP项目中财政运营补贴支出测算方法适用性探究[J].福建金融,2018(4):18-24.[4] 李明哲.投资项目经济评价理论与实践问题研究[J].技术经济,2008(2):35-43+63.[5] 薛涛,赵喜亮.PPP要做到风险共担和真运营[J].环境经济,2018(Z1):28-33.建筑经济,2019(10):55-60