論文

査読有り
2010年4月

Government guarantees and risk sharing in public-private partnerships

Review of Financial Economics
  • Ryuta Takashima
  • ,
  • Kyoko Yagi
  • ,
  • Hiroshi Takamori

19
2
開始ページ
78
終了ページ
83
記述言語
英語
掲載種別
研究論文(学術雑誌)
DOI
10.1016/j.rfe.2009.10.001

We study the interaction between a private firm and a government when they time an investment decision while in a public-private partnership. We use a real options framework and consider the degree of sharing in the cost of the investment and the risk in the operation of the project. The degree of sharing influences the investment timing and the project value. When the guarantee of the government is large and/or the cost sharing rate for the private firm is low, then the private firm-maximizing policy exercises the investment option earlier than the project value-maximizing policy. © 2009 Elsevier Inc.

リンク情報
DOI
https://doi.org/10.1016/j.rfe.2009.10.001
ID情報
  • DOI : 10.1016/j.rfe.2009.10.001
  • ISSN : 1058-3300
  • SCOPUS ID : 77952869855

エクスポート
BibTeX RIS