Government Support Programs and Private Investments in PPP Markets

Public-private partnerships: determinants of the type of governance structure

“…About the uncertainties in which the investment is carried out, the TCT exposes their importance in the management of the PPP (De Schepper et al, 2015;Wang et al, 2018Wang et al, , 2018b. Among them, the relevance of the external uncertainties (mainly arising from market environments) stands out (Albalate et al, 2014;Mota and Moreira, 2015).…”

“…are correlated with the degree of development of the country, the use of a proxy for this set of factors avoids severe multicollinearity and facilitates interpretation (Ramírez and Fleta, 2016;Svensson, 1998). Thus, the variable, Development Degree (Dev), is obtained for each country, according to the year before the project started, to represent this development applying logs to the GDP per capita (Ramírez and Fleta, 2016) as previously used to proxy favourable conditions for economic transactions in PPPs (Albalate et al, 2014;Wang et al, 2018b).…”

Renewable energy public–private partnerships in developing countries: Determinants of private investment

“…at 10% are highlighted in bold.variable and with the same database use this technique(Wang, Liu, Xiong, & Song, 2019;Wang, Liu, Xiong, & Zhu, 2019).…”

Coming to Financial Close in PPPs: Identifying Critical Factors in the Case of Toll Road Projects in Indonesia

“…Appropriate instruments and balances of them are critical for maximizing the financial efficiency of any project. To make the project financially feasible and encourage private investors to participate in the project, the following CSFs are essential: (a) mature and available financial market (Ameyaw & Chan, 2016;Jefferies et al, 2002;Ng et al, 2012;Osei-Kyei & Chan, 2017a;Zhao et al, 2010) that provides the project company with finance, especially long-term loans, fixed and low interest rate loans, standby facilities in case of revenue shortfalls or cash flow problems; (b) government financial support to make the project bankable (Ameyaw et al, 2017;Babatunde & Perera, 2017;Kwak et al, 2009;H. Wang et al, 2019), such as a VGF scheme that gives financial support for the capital investment of the project, budget financing for the remuneration, such as (a) AP scheme; (b) shadow-toll payment scheme; (c) payment adjustment mechanism for stable revenue; and (d) Present Value of Revenues (PVRs) contract scheme that allow the extension of concession periods to recover the project cost in case the revenue is lower than expected (Engel et al, 2014; Public-Private Infrastructure Advisory Facility [PPIAF], 2017; Weber et al, 2010).…”

“…In the 1970s, the CSF model was developed in the field of management studies (Babatunde et al, 2016; Chen, 1999; Jefferies et al, 2002; Mohr & Spekman, 1994; Osei-Kyei & Chan, 2015; Rochart, 1979) and defined as a limited number of crucial areas in which results will lead to favorable goals (Chen, 1999; Rochart, 1979, 1982). During the last couple of decades, when the PPPs concept started to grow (Li et al, 2005; Tang et al, 2010; H. Wang et al, 2019), research on CSFs became a major topic in PPPs studies (e.g., Ke et al, 2009; Osei-Kyei & Chan, 2015; Tang et al, 2010): researchers conducted questionnaire surveys, case studies, and literature reviews, summarizing the CSFs for PPPs projects (e.g., Ameyaw et al, 2017; Jefferies et al, 2002; Kwak et al, 2009; Osei-Kyei & Chan, 2015, 2017b; Tiong, 1996; X.…”