上海市轨道交通投融资战略模式研究

上海交通大学硕士学位论文上海市轨道交通投融资战略模式研究姓名：孙乃萌申请学位级别：硕士专业：高级管理人员工商管理指导教师：于冷20050326250200533350450“”550PPP650Transportationisthelifelineofacity,whichplaysavitalroleintheeconomicandsocialdevelopment.Itisalsoanindustrythatinvolveslongconstructionperiodandhugeinvestment.Therefore,in-depthanalysisandargumentationisneededfortheselectionofurbantransportationstrategy,tobetterutilizetheopportunitiesandfacethechallengesitfaces.Thethesisselectstracktransportationasasubjectforstudy,andgivesformalanalysisandargumentationtothedevelopmentstrategy,andbasedontheconclusion,systematicandspecificsolutionisprovided,togetherwithsuggestionsforimplementation.Traditionalstrategicmanagementtheoryandmethodologychooseenterpriseasasubjectforstudyandcompetitionasacoreforanalysisinelaboration.However,therehasbeenlimitedsystematicandcontinuedresearchintheareaofurbantracktransportationdoneintheacademiccircle.Thethesisreferstothethoughtandmethodsincorporatedevelopmentstrategy,anddueinnovationisappliedintheanalysis.Becauseoftheeconomicfeaturesandoperationcharacteristics,governmentsplayaguidingroleininvestmentandfinancingoftracktransportation.Inrecentlyyears,inordertocovertheshortageofcapital,marketfinancinghasbeenused,namely,thegovernmentadoptsfavorablepolicytocreateconditionformarketfinancingandattractotherinvestorsintheconstructionthroughjointventureorprojectfinancing.Therearetwooptionsfortrackfinancing,governmentinvestment/financingandmarketinvestment/financing.ThethesissummarizesexperiencesandlessonsofcitiessuchinJapan,SingaporeandHK.Basedontheanalysis,wecometothefactthatmajorcitiesaremovingtowardsgovernmentguidedmulti-polarizedandchanneleddirection.Bycombiningthecurrentsituationandexternalenvironment,thefollowingmodelisproposedThegovernmentusesmultipleconvertiblepaymentpolicies,theinternalizethe750externalbenefit,andbuildstablecapitalresourceforprojectinvestmentandoperation.Onthebasisofbalancedcashflow,thefollowingtwomethodscanbeused1.Government-guideddebtinvestment/financing.Onthebasisofcertaincapitalprovidedbythegovernment,governmentcreditisgivenfullplay,andmultipledebtfinancingisappliedtolowercostandraisehugesuminshortperiod,toguaranteethetask.Duringtheprojectoperation,multiplewaysaretriedtopayoffprincipleandinterest.2.Government-guidedmarketinvestment/financing.UsingPPPandotherprojectfranchisemethodtoattractsocialinvestorsandintroducecompetitionmechanismtoenhancecapitalefficiencyandoperationlevel.Detailedoperationmethods,advantages/disadvantages,possibleproblemsandsolutionsaregiveninthethesis.Marketmechanismmaybedistortedintheprocess,sogovernmentinterventionismisneededinternalizepartoftheexternaleffect.Fortheimportantroleofgovernmentguidance,twobasicmethods—directtransferredpaymentandindirecttransferredpaymentaretouchupongenerally.Finally,toguaranteefullimplementation,thethesisreferstothesuccessfulexperienceofmodelcities,andgivessuggestionsintermsofgovernmentpositioningandtherelationsbetweenconstructionandmanagement.Keywordstracktransportation,benchmarkingresearch,investment/financingmodel,transferredpayment11511.1200212511.21234135155PEST1971··51-11451“”1-11-115511-1PESTBenchmarking/Benchmarking207016519541-21-2“”1-31751“”1-31-418512.1PublicgoodsPrivategoodsNon-divisibilityNon-excludability“”Non-rivalness“”195112ttXYYfXftXtfXt1——340%410153020511“”“”——2342151“”77%80%90%100%20001020%30033.7%2251(PPP)5km60%,,40%,40%,20%,33%34%,33%,,1/3,()2/3,,1,2351,,BOT,,,,,,,,BOT,,851982,,,,,,,,,:(GVFG)(EkrG)(DBGrG)(RegG)(BschwAG),,,24511872..“”.....2551“”2651“”14100%2751¨¨¨¨¨19982199972.5256.3951.944.4577.87.910.98.2311.4102851 199953504230199989199975.52199818.79199919.1151.150.88786753757.982951¨¨¨19889149203600 63(14.8)50103051100420200175820013.89720014.4052.984%“”“”315180%30%¨¨¨3251120023¨1(1995)16.365km6.2()4-1¨2(2000)19.14km94(8)4-2¨3(2000)24.97km9084-34-114.61.3223184-221/31/31/34-3319%49%32%()3351336()“”43.64872GDP2.520004303520028534511323335514200393651701“”1000020008000220003200210210353103751PPP385120025.76%4.4%123“”4“”395112345124051345PPPPPPpublic-private-partnership4151SBOTSubsidizeinBuildingOperateandTransferABABPPPPPPPPPPPPPPPPPPPPPBSOTBuildSubsidizeinOperationandTransfer4251PPP1PPP————PPP2PPPPPPPPP34PPP4351PPP“”“”“”5PPPPPP6PPPPPPPPP4451“”“”“”1¨¨196719920.6/924551“”124651“”()3“”“”“”“”4“”“”“”()()1()(1)-(2)()2¨()4751“”“”¨()“”“”3¨“”()¨((TurnKey))()¨()()¨48514951[1],,.[M].2003.[2].[M].1997.[4].[M].2001.[5].[M].2001.[6].[M].2000.[7]M2000[8]M2000[9]PPPJ.2004(1).[10].PPPJ.2003(11).[11].M.2002.[12].J.2000(6).[13].J.2002(1).[14].J.1998(1).[15].J.2000(2).[16].J.2001(4).[17].J.(.)1996(2).5051EMBA51511200412EMBA上海市轨道交通投融资战略模式研究作者：孙乃萌学位授予单位：上海交通大学相似文献(10条)1.学位论文周立峰轨道交通车辆设备的国产化战略2004本文对轨道交通车辆和设备的产业环境和产业模式进行分析和论证,引出上海阿尔斯通交通设备有限公司所确定的公司发展战略目标:以车辆及设备国产化为目标,提升技术含量和生产能力,降低价格,赢得市场.重点对上海轨道交通车辆产业实施国产化战略的必要性和现有的基础条件进行分析,同时对目前已经实施的上海阿尔斯通国产化总装厂的实施步骤、主要零部件的国产化方案、以及国产化战略对资源及组织机构的要求进行分析和描述.2.学位论文贾科中铁二局城市轨道交通工程公司发展战略研究2009在市场竞争的条件下，进行战略管理是非常必要的。通过战略的分析、可以为中铁二局城市轨道交通工程公司的发展和建设明确方向和目标，以最有效的方式配制资源，取得最佳的经济效益，推动公司又好又快发展。中铁二局城市轨道交通工程公司因轨道交通建设而生，也应发展、壮大于轨道交通工程建设，致力于成为在中国城