Impact of Rule Governance Mechanism on Project Performance in Public Rental Housing PPP Projects: Control Rights as a Moderating Variable

Liú, Dan; Mo, Wenfeng; Yin, Chuanbin

doi:10.1155/2021/5557941

Cited by 4 publications

(2 citation statements)

References 44 publications

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“…To address this issue, social capitalists need to engage in regular information exchanges on the progress of the project and related risks to establish a stable partnership with the government. Furthermore, megaengineering projects implemented using the EPC + PPP model have the distinct feature of including several stakeholders [125]. Within this intricate environment, it is imperative to issue well-defined documents that delineate the rights and duties of both the government and the social capital party within the project's parameters.…”

Section: Risk Governance Strategiesmentioning

confidence: 99%

A Quantitative Analysis of Decision-Making Risk Factors for Mega Infrastructure Projects in China

Wang,

Luo,

et al. 2023

Sustainability

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The “trillion-dollar era” of megaprojects has increased the demand for the scope of mega infrastructure. To address the requirement for high-quality “investment, construction, and operation” integration, the EPC and PPP models must be combined. The complexity of megaprojects has resulted in the complexity of project risk variables under the new model. However, few existing studies have undertaken in-depth studies on the risk of EPC + PPP megaprojects. The interplay and dynamic evolution of risk factors, in particular, have not been taken into account. This research intends to fill this gap by systematically identifying and modeling the risk variables associated with the adoption of the EPC + PPP model for mega infrastructure projects. In this study, the Bayesian network is used to detect decision-making risk variables for large infrastructure projects in China. The findings indicate that (i) 22 influencing factors of megaproject decision making are identified, including organizational decision making, PPP investment and financing, EPC construction, operations management, and policy and law. (ii) Considering the real project decision-making process, a model based on a dynamic Bayesian network is built, and associated governance techniques and early warning protection mechanisms are designed for the decision-making process. (iii) Using the Yiwu Mall Avenue project as an example, the Bayesian simulation model of decision-making risks is applied to a typical case to validate its feasibility and correctness. These findings have significant theoretical and practical implications for research on the identification and governance of decision-making risks in megaprojects using the EPC + PPP model in China.

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Section: Risk Governance Strategiesmentioning

confidence: 99%

A Quantitative Analysis of Decision-Making Risk Factors for Mega Infrastructure Projects in China

Wang,

Luo,

et al. 2023

Sustainability

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“…e rational allocation of control rights is the key to the success of PPP projects, which can solve the opportunistic behavior in the knowledge sharing process of building information modeling integrated project delivery and maximizing the revenue of the project [5,14,15]. However, there are still some problems such as low pertinence of laws and policies, incomplete stakeholder contract, and unclear allocation of government and enterprise control rights in PPP practice [2,[16][17][18]. How to allocate the control rights in the contract and judge the control right reasonably are important for the realization of project performance [19].…”

Section: Literature Reviewmentioning

confidence: 99%

Analyzing Factors Influencing Government Control Rights in PPP Projects from the Perspective of Investors

Liu

Lei

Zhou

et al. 2022

Discrete Dynamics in Nature and Society

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The information resources owned by the government cannot be completely defined due to the incompleteness of the PPP contract. These information resources influence investors’ judgment on the government’s control rights, thus influencing the fair cooperative relationship and rational decision-making. In order to analyze the criteria for investors to evaluate the government’s control rights in PPP projects in the process of decision, 14 factors that influence the government’s control rights are identified through literature analysis and a questionnaire survey. Factor analysis shows that 14 factors are divided into explicit control indicators and implicit control indicators, which measure the explicit control rights and implicit control rights of the government, respectively. Considering the influence of differences in investors’ opinions, the entropy weighing is made. The results show that the weight of implicit control right reaches 47.90%, which cannot be ignored in practice. The risk ratio has the greatest influence on explicit control rights, followed by the equity ratio. The status of government has the greatest influence on implicit control rights. The study helps to reduce the perceived bias of investors to the government’s control rights of PPP projects for achieving partnership sustainability.

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Interactive roles of megaproject governance mechanisms and their effects on governance performance

Luo,

Liu,

Yang

et al. 2024

ECAM

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PurposeThis study aims to explore the interaction of “contractual governance – relational governance – governmental governance” mechanisms and proposes hypotheses about the effects of megaproject governance on governance performance from both theoretical and practical perspectives.Design/methodology/approachIn this paper, a megaproject governance model is developed to explain the relationship between governance mechanisms and governance performance. The model is based on related literature and explores the interactions between governance mechanisms and how they work to improve governance performance. The structural equation model (SEM) is adopted to explore the influence path on governance performance for megaprojects.FindingsThe results indicate that: (a) The findings highlight the positive role of project governance mechanisms on governance performance. (b) Contractual governance, relational governance, and governmental governance directly affect governance performance. In addition, contractual governance mediates governance performance through relational governance and governmental governance; governmental governance mediates governance performance through contractual governance and relational governance. (c) Contractual governance, relational governance, and governmental governance play a positive role in governance performance.Research limitations/implicationsGovernmental governance is added to project governance theory and the empirical research method is used to explore the interaction between contractual governance, relational governance, and governmental governance of megaprojects. The SEM is used to systematically explore the paths of megaproject governance mechanisms on governance performance, considering the interactive role of the “contractual governance - relational governance - governmental governance” and the mediating role.Practical implicationsThe study reveals the impact path of multidimensional megaproject governance mechanisms on governance performance. In this paper, the empirical findings can help the project participants by providing a decision-making basis for good governance and references for the governments to promote the construction of a micro-institutional environment for megaprojects.Originality/valueThe contributions of this study are (1) to add an exploration of governmental governance to the existing project governance theory, and (2) to consider the interactions of the “contractual governance – relational governance – governmental governance” mechanisms, and (3) to explore their effects on governance performance, including direct and mediating effects. This study contributes to a comprehensive understanding of megaproject governance by considering governmental governance and the interactions of the three governance mechanisms. Understanding the impact of megaproject governance on governance performance could assist project stakeholders and provide decision guidance for good governance.

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Impact of Rule Governance Mechanism on Project Performance in Public Rental Housing PPP Projects: Control Rights as a Moderating Variable

Cited by 4 publications

References 44 publications

A Quantitative Analysis of Decision-Making Risk Factors for Mega Infrastructure Projects in China

A Quantitative Analysis of Decision-Making Risk Factors for Mega Infrastructure Projects in China

Analyzing Factors Influencing Government Control Rights in PPP Projects from the Perspective of Investors

Interactive roles of megaproject governance mechanisms and their effects on governance performance

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