Government motivation-embedded return guarantee for urban infrastructure projects based on real options
Man, Qingpeng, Sun, Chengshuang, Fei, Yuesheng, Skitmore, Martin, Bai, Yong, & Lu, Weizhuo (2016) Government motivation-embedded return guarantee for urban infrastructure projects based on real options. Journal of Civil Engineering and Management, 22(7), pp. 954-966.
Administrators only until June 2017 | Request a copy from author
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 motivational 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.
Impact and interest:
Citation counts are sourced monthly from and citation databases.
These databases contain citations from different subsets of available publications and different time periods and thus the citation count from each is usually different. Some works are not in either database and no count is displayed. Scopus includes citations from articles published in 1996 onwards, and Web of Science® generally from 1980 onwards.
Citations counts from theindexing service can be viewed at the linked Google Scholar™ search.
|Item Type:||Journal Article|
|Keywords:||Urban infrastructure, government guarantee, real options, motivation behaviour|
|Subjects:||Australian and New Zealand Standard Research Classification > BUILT ENVIRONMENT AND DESIGN (120000) > BUILDING (120200)|
|Divisions:||Current > Schools > School of Civil Engineering & Built Environment
Current > QUT Faculties and Divisions > Science & Engineering Faculty
|Copyright Owner:||2016 Vilnius Gediminas Technical University (VGTU) Press|
|Deposited On:||05 Aug 2016 00:08|
|Last Modified:||05 Sep 2016 16:45|
Repository Staff Only: item control page