特许期

在分析特许期限定和完工风险的关系以及完工风险和项目类型的关系的基础上，提出了对于不同的BOT项目应该优先选择的特许期限定类型。

This paper addresses what concession period limit should be selected preferentially for different projects .

BOT项目特许权转让协议中有关特许期的约定涉及两部分内容，包括特许期限定和特许期长度。特许期限定是对特许期（包括建设期和运营期）的限制和约定。

BOT project concession period consists two parts : concession period limit and concession period length .

城市供水BOT项目特许期研究

Research on Concession Term of Urban Water Supply BOT Project

BOT项目特许期决策方法研究评述

Review on Decision Method of Concession Period for Build-Operate-Transfer Projects

基于合约安排的基础设施BOT项目特许期形式比较研究

Comparative Study on Concession Period Alternatives of BOT Infrastructure Projects based on Contract Arrangement

BOT项目的特许期是项目特许权协议中的重要内容。

The concession period is an important item at concession agreement that is a financing foundation of a BOT contract .

BOT项目特许权协议中关于特许期的约定主要由两部分组成：特许期的相关规定和特许期的长度。

In the urban water BOT concession contracts the concession term consists two parts : concession term limit and concession term length .

特许期的相关规定与BOT项目的风险管理和风险分担有着密切联系，而特许期的长度则直接决定了投资者与政府之间的利益分配。

The risk sharing is mainly stipulated by the concession term limit , and the benefits distribution is determined by concession term length .

特许期作为BOT特许经营协议中的核心条款之一，其决策的科学与否直接影响着项目成败。

As one of core clauses in BOT concession agreement , the decision based on concession term directly determine the success of the whole project .

本文从风险管理与风险分担的角度，定性的分析了城市供水BOT项目合理地选择特许期规定的问题。

From the point of view of the risk distribution , the paper qualitative analysis the concession term limit choosing of urban water BOT project .

特许期是PPP融资中最重要的参数，它是划分政府和私人投资者利益的时间界限，其合理程度直接关系到项目成败。

The concession period is the most important parameter of the concession agreement , as it can divide the interests both of the government and investors at time dimension .

探讨了BOT项目的风险管理、风险分配与项目特许期规定之间的内在关系，通过逻辑推理得到了两类城市供水BOT项目合理选择特许期规定的结论。

By discussing the relationships between risk management , risk distribution and concession term limit , the paper reaches the conclusion on choosing the right concession term limit of two kinds of urban water BOT project .

由此说明了，BOT项目的特许期对项目公司的行为具有约束和激励作用，但目前项目的激励作用还没有充分发挥出来。

This proves that the concession period of BOT project plays a role of both incentive constraint and participation constraint in the behavior of the project company ; however the incentive role is not significant at present .

在城市供水BOT项目中，除了水价外，特许期的相关规定与长短是特许协议中最为核心的问题，直接决定了政府和项目投资者的风险分担和利益分配。

Besides the water price , the concession term is one of the most important aspects in the urban water BOT concession contracts . It determines risk sharing and benefits distribution between the government and the project investor .

PPP项目特许期及在此基础上的控制权配置，其本质是公共部门与私人财团紧密合作应对特许期内可能发生的各种不确定性，进而实现双方之间的风险分担和利益均衡。

The Concession period of PPP project and the control rights allocation , are essentially the risk sharing and benefits balanced between the parties for the public sector and private financial to the effective response to the uncertainty in the concession period .

政府授予项目公司的特许期长度和项目公司承担的市场风险正相关。

Concession period length is relevant to the size of market risk distributed to project company .

在考虑市场风险分担的情况下，运用数学推理构建了确定特许期长度的数学模型，并对此模型进行了应用研究。

Under considering the distribution of market risk , this paper constructs a math model calculating concession period length .

政府只有制定具有激励作用的特许期，才能激励项目公司增加投资，提高社会福利。

Only if the government makes an incentive concession period , the project company would increase project investment and improve social welfare .

本文提出了两种特许期的测算方法，投资回收期加合理盈利期法与合宜的投资收益率法。

One is measurement of period of invest return plus reasonable benefit period and the other is measurement of proper invest return rate .

因此，在实际应用中，政府可通过计算而求出具有激励相容和参与约束作用的特许期。

Therefore , in practice , the government may be able to calculate out the concession period with the incentive constraint and participation constraint .

对于发电厂、自来水厂、污水处理厂、公路和桥梁项目，可以选择特许期单限定或特许期双限定；

In the course , have gotten following conclusions : 1 To the power plant , waterworks , sewage treatment plant , highway and bridge , Can choose single-limit or two-limit ;

文章通过数学模型的方法，对单阶段和两阶段结构下项目公司及政府的利益变动进行了量化分析，指出不同特许期结构下风险的主要承担者。

This article quantifiably analyzed the sigle-stage , two-stage interests ' change of the project company and the government according to mathematical model . It point out stake-holders under the different concession period structure .

国外研究表明，特许期限定的选择可以使政府和项目公司承担不同的完工风险，但是对于不同的项目类型应该选择何种特许期限定并没有人研究。特许期长度包括建设期长度和运营期长度。

Foreign studies show that different concession period limit can distribute different grade completion risk to government and project company , but there is no study showing what concession period limit should be selected for different projects .

因此，合理的特许期能平衡项目现金流，保障投资各方获得相应的投资收益。（4）私营企业努力水平与控制权配置的关系研究。

Therefore , reasonable concession period can balance project cash flow , and secure the corresponding investment income of all investment parties . ( 4 ) The link between effort level of private enterprise and control rights allocation .

该模型可以根据项目公司分担的市场风险对特许期长度做相应的调整，从而保证了政府和项目公司的风险收益平衡，确保了双方的权益。

The model can adjust concession period length according to the market risk taken by project company . So the model can ensure the risk-return trade-off between government and project company , and ensure the rights and interests of two parties .

基于社会效益的BOT项目特许权期决策分析

Analysis on Concession Term Decisions of BOT Projects Based on Social Benefits

BOT项目中非系统风险对特许权期的影响分析

The Analysis of Non-system Risk Affect on Concession Period in BOT Project

对于BOT项目特许权期的确定具有一定的参考价值。

The thesis has certain reference value in fixing on BOT concession period .

基础设施BOT项目特许权期的决策模型

Decision-Making Model on Concession Term for Infrastructure BOT Projects

城市供水BOT项目特许权期决策的博弈分析

The Game Analysis of the Concession Term in Urban Water Supply BOT Project