scholarly journals Analysis of Features Affecting Contracted Rate of Return of Korean PPP Projects

2021 ◽  
Vol 13 (6) ◽  
pp. 3311
Author(s):  
Kangsoo Kim ◽  
Jinoh Kim ◽  
Donghyung Yook
Keyword(s):  
Risk Factors ◽  
Private Investment ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Private Partnership ◽  
Factors Affecting ◽  
Negotiation Behavior ◽  
Operation Period ◽  
Financing Costs ◽  
The Impact

Various risk factors influence the success of public–private partnership (PPP) projects. This study analyzes the risk attributes of PPP projects and develops a regression model based on a 20-year PPP project database to quantitatively analyze the factors affecting the contracted internal rate of return (CIRR) of PPP projects. Although the risk factors of PPP projects have been widely studied, the factors affecting CIRR have not been explored. Information from the intra-info DB system managed by Korea Development Institute was used to calculate the impact of the variables on CIRR. It was observed that the CIRR of Korea’s PPP projects did not reflect the risks associated with the facility types, service area, amount of private investment, and operation period accurately. Financing costs did not demonstrate a statistically significant relationship with the CIRR either. Furthermore, the CIRR of projects with a minimum revenue guarantee option was found to be higher than that of projects without. The CIRR of the current project was found to be closely related to the number of bidding competitors and the CIRR values of previous projects that are similar to the current one. This is attributed to a failure in the bureaucratic negotiation behavior of the parties due to their avoidance of responsibilities.

Lex PPPs as a source of regulation of cross-border relations in the sphere of public-private partnership and the role of international organizations in formation of Lex PPPs

2021 ◽  
pp. 1-10
Author(s):  
Svetlana Valentinovna Maslova
Keyword(s):  
International Organizations ◽  
Private Investment ◽  
Legal Regulation ◽  
Public Private Partnership ◽  
Legal Doctrine ◽  
Private Partnership ◽  
Cross Border ◽  
State Actors ◽  
The Impact

Modern international and cross-border relations in the sphere of public-private partnership (PPP) undergo transformations caused by globalization processes, which leads to the amendments in their legal regulation. The impact of non-state actors increases. Although the toolset for influencing cross-border relations in the sphere of PPP retains its legal core, it is being extended by the rules established by non-state actors outside the international and national legal systems, and carry no legal weight. For PPP as a form of interaction between the state and private investment and business structures, such transformations are particularly noticeable and require precise legal qualification. The scientific novelty of this research consists in providing definition in the international legal doctrine to Lex PPPs as the regulator of cross-border relations in the sphere of public-private partnership. Based on the dialectical, logical, and formal-legal methods, assessment is given to the role of international organizations in the formation of Lex PPPs. In conclusion, the author clarifies the role of Lex PPPs within the system of regulators of public-private partnership, namely that it should not expel the legal regulation of cross-border relations in the sphere of public-private partnership; as well as offers to seek for the new forms of correlation between international law and Lex PPPs and their consolidation through the international legal regulation of public-private partnership.

scholarly journals Determining critical risk factors affecting public‐private partnership waste‐to‐energy incineration projects in China

2020 ◽  
Vol 8 (4) ◽  
pp. 1181-1193 ◽  
Author(s):  
Caiyun Cui ◽  
Chenjunyan Sun ◽  
Yong Liu ◽  
Xiaoyan Jiang ◽  
Qing Chen
Keyword(s):  
Risk Factors ◽  
Public Private Partnership ◽  
Waste To Energy ◽  
Private Partnership ◽  
Factors Affecting

scholarly journals Developing an AHP Risk Assessment Model for PPP Projects in Jordan

2021 ◽  
Author(s):  
Maram Almuhisen ◽  
◽  
Hüseyin Gökçekuş ◽  
Tahir Çelik ◽  
◽  
...  
Keyword(s):  
Risk Factors ◽  
Risk Assessment ◽  
Success Factors ◽  
Quantitative Model ◽  
Public Private Partnership ◽  
Assessment Model ◽  
Study Phase ◽  
Private Partnership ◽  
Factors Affecting ◽  
Goods And Services

For the Jordanian government, meeting the growing demand for goods and services on its own is very difficult, leading to the increased dependence on other sectors of society. This research is aimed at understanding the critical success factors of local public-private partnership projects, identifying the most vital risk factors affecting projects, and establishing a quantitative model for risk assessment. The model can assist public-private partnership contributors by transforming the basic risk assessment principles into a more facilitated and systematic arithmetical based approach. The results showed that the risk factors with the highest ranks (respectively) are transfer phase, organizational risks, financing phase, project management risks, and feasibility study phase. The research is ultimately aimed at developing a framework for the risk evaluation of public-private partnerships within the construction industry in Jordan.

scholarly journals Assessing the long-term impact of agricultural research on productivity: evidence from France

2020 ◽  
Vol 47 (4) ◽  
pp. 1559-1586
Author(s):  
Stéphane Lemarié ◽  
Valérie Orozco ◽  
Jean-Pierre Butault ◽  
Antonio Musolesi ◽  
Michel Simioni ◽  
...  
Keyword(s):  
Agricultural Research ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Long Run ◽  
Dynamic Time ◽  
Long Term Impact ◽  
Public Agricultural Research ◽  
The Impact ◽  
Range Of Values

Abstract This paper analyses the economic impact of agricultural research on productivity in France over the period 1959–2012. Adopting a dynamic time series model, we provide evidence that the impact of French agricultural research is in the range of values estimated for other countries, with the estimated long-run elasticity being 0.16, which corresponds to an internal rate of return of 22%. The estimated elasticity decreases at the beginning of the 1970s. Complementary analyses are developed to take into account the evolution of the priorities of public agricultural research (reorientation towards more fundamental objectives and focus on broader objective than productivity enhancement).

scholarly journals The Linkage between Public, Private Investment and Economic Growth—Evidence for the Developing ASEAN and Asian Countries

2017 ◽  
Vol 3 (4) ◽  
pp. 580 ◽  
Author(s):  
Nguyen Thi Canh, PhD. Prof. ◽  
Nguyen Anh Phong, PhD.
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Positive Impact ◽  
Public Investment ◽  
Private Investment ◽  
Public Private Partnership ◽  
Long Term Effects ◽  
Private Partnership ◽  
The Impact

<p><em>This study used a quantitative method to assess the impact of public investment on private investment and economic growth based on data from 18 developing countries over a 21-year period (1995-2015) by applying PVAR model combined with GMM. The findings show that all public investment and public-private partnership investments affect private investment as well as affect economic growth but the effects vary cyclically, by time period, and by group of countries.</em></p><p><em>For the ASEAN developing countries, public investment crowds out private investment in short term and crowds in private investment in the medium and long term, but it crowds out public-private partnership investment. For the developing countries in Asia, public investment has a positive impact on economic growth with the inverted U-shaped pattern which stimulates growth in the short and medium term, but in the long-term effects of stimulation growth tend to decrease.</em></p>

scholarly journals On Effects of Macroeconomic Factors on Rate of Return on Stocks on HoChiMinh Stock Exchange

2013 ◽  
Vol 218 ◽  
pp. 48-61
Author(s):  
ANH VÕ THỊ THÚY ◽  
HẢI NGUYỄN THANH
Keyword(s):  
Business Performance ◽  
Factor Model ◽  
Stock Exchange ◽  
Random Effect ◽  
Industrial Sector ◽  
Rate Of Return ◽  
Macroeconomic Factors ◽  
Factors Affecting ◽  
Two Factors ◽  
The Impact

Using factor model and fixed or random effect approaches, this article studies the factors affecting the rate of return on the stocks listed on the Vietnamese stock market. The results show that the rate of return is affected by the two factors: inflation and the Nikkei index as an indicator of regional economy. The impact of inflation is much more powerful. The strongest impact of the unexpected inflation is found in industrial sector and consumption while enterprises with good business performance only suffer a milder effect. The impact of Nikkei index on local stocks is rather weak but less dispersed.

scholarly journals Delivery room handling of the newborn

2019 ◽  
Vol 48 (1) ◽  
pp. 1-10 ◽  
Author(s):  
Stephanie Marshall ◽  
Astri Maria Lang ◽  
Marta Perez ◽  
Ola D. Saugstad
Keyword(s):  
Risk Factors ◽  
Mode Of Delivery ◽  
Delivery Room ◽  
Delayed Cord Clamping ◽  
Factors Affecting ◽  
Newborn Resuscitation ◽  
Cord Clamping ◽  
Antenatal Steroid ◽  
Electrocardiogram Ecg ◽  
The Impact

AbstractFor newly born babies, especially those in need of intervention at birth, actions taken during the first minute after birth, the so-called “Golden Minute”, can have important implications for long-term outcomes. Both delivery room handling, including identification of maternal and infant risk factors and provision of effective resuscitation interventions, and antenatal care decisions regarding antenatal steroid administration and mode of delivery, are important and can affect outcomes. Anticipating risk factors for neonates at high risk of requiring resuscitation can decrease time to resuscitation and improve the prognosis. Following a review of maternal and fetal risk factors affecting newborn resuscitation, we summarize the current recommendations for delivery room handling of the newborn. This includes recommendations and rationale for the use of delayed cord clamping and cord milking, heart rate assessment [including the use of electrocardiogram (ECG) electrodes in the delivery room], role of suctioning in newborn resuscitation, and the impact of various ventilatory modes. Oxygenation should be monitored by pulse oximetry. Effects of oxygen and surfactant on subsequent pulmonary outcomes, and recommendations for provisions of appropriate thermoregulatory support are discussed. Regular teaching of delivery room handling should be mandatory.

scholarly journals Assessment of the Impact of Seafarers' Professional Experience on the Perception of Risk Factors from the Perspective of Polish Container Ships Crews Members

2021 ◽  
Author(s):  
Ludmiła Filina-Dawidowicz ◽  
Daria Możdrzeń ◽  
Włodzimierz Rosochacki
Keyword(s):  
Risk Factors ◽  
Human Factor ◽  
Professional Experience ◽  
Container Shipping ◽  
Perception Of Risk ◽  
Chi Square ◽  
Factors Affecting ◽  
Work Related ◽  
Professional Groups ◽  
The Impact

Safety of navigation is the important issue especially related to the dynamically developing container shipping. The main purpose of the article is to demonstrate the results of research on the perception of risk factors by seafarers working on container ships in terms of their professional experience. The ranking of risk factors considering their impact on the safety of container shipping has been created. An additional goal of the research was to acquire the knowledge on ships crews members' assessment of the impact of the human factor on the safety of navigation, including factors related to the organization of seafarers' work (systemic aspects) and those directly resulting from the operations carried out on ship. The assessment of risk factors affecting the navigation safety was performed from the perspective of Polish crew members working on container ships. The research was carried out with the use of an empirical study questionnaire. 161 seafarers' opinions were analyzed. On the basis of the created risk factors ranking analysis, it was found that seafarers perceive the human factor, and consider both the systemic and the work-related aspects having the greatest impact on the safety of container shipping. Moreover, the conducted non-parametric Pearson chi-square independence test proved the hypothesis that assessments of the five highest rated risk factors, reviewed by studied young and experienced professional groups of seafarers, didn’t differ significantly.

scholarly journals Determining the Optimal Concession Period in Cancer Hospital Project using Public-Private Partnership (PPP) with Availability Payment Scheme

2020 ◽  
Vol 5 (4) ◽  
Author(s):  
N. D. Huda ◽  
A. D. Prasetyo
Keyword(s):  
Monte Carlo ◽  
Local Government ◽  
Net Present Value ◽  
Payback Period ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Present Value ◽  
Private Partnership ◽  
Cancer Hospital ◽  
Concession Period

The construction of Cancer Hospital in city of X which require total Capital Expenditure of Rp 1,135,834,554,688 can answer the need of comprehensive cancer services in Indonesia. But due to limited local government budgets, forcing local government to find alternative funding through Public Private Partnership (PPP) scheme. One of the newest PPP scheme at the moment is the Availability Payment (AP) scheme. Through this research, authors analyze the optimal concession period and the feasibility of this investment plan by calculating the required Capital Expenditures, Operating Cost, and other expense and Risk embedded to the project. The optimal concession period is analyzed by simulation of different concession period scheme ranging from 10-25 years and find the lowest required Availability Payment. The feasibility of the cancer hospital project is analyzed by using Discounted Cash Flow parameter which are Net Present Value, Internal Rate of Return and Payback Period. The risk embedded to the project is analyzed by using sensitivity, scenario and monte carlo analysis. From the result of Availability Payment calculation, the optimal concession period for this project is 22 years, this period scenario generates AP payment of Rp 287,712,786,883. The result of this project is financially feasible with positive Net Present Value of Rp 95,490,595,725, the Internal Rate of Return (IRR) of 12,66% which greater than Weighted Average Cost of Capital (WACC) of 11.92% , and Payback Period of 11,17 years. This Cancer hospital Project is financially safe to build by business entity (BUP). From 10,000 trials of Monte Carlo simulation, the project NPV will lies between Rp 59,335,915,203 to Rp 121,260,967,584 with 95% certainties with worst case scenario NPV still positive Rp 40,041,126,128.  Based on the sensitivity analysis the COGS expense is the variable that most affecting the overall NPV of this project, followed by the long-term debt interest rate.

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