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AbouRizk, S M, Fayek, A R and Al-Hussein, M (2017) The University of Alberta’s Hole School of Construction Engineering: 25 Years of Impact and Innovation. Journal of Construction Engineering and Management, 143(09).
Akintola, A, Venkatachalam, S and Root, D (2017) New BIM Roles’ Legitimacy and Changing Power Dynamics on BIM-Enabled Projects. Journal of Construction Engineering and Management, 143(09).
Al-Bayati, A J, Abudayyeh, O, Fredericks, T and Butt, S E (2017) Managing Cultural Diversity at U.S. Construction Sites: Hispanic Workers’ Perspectives. Journal of Construction Engineering and Management, 143(09).
Ballesteros-Pérez, P (2017) M-PERT: Manual Project-Duration Estimation Technique for Teaching Scheduling Basics. Journal of Construction Engineering and Management, 143(09).
Crew, W A (2017) Best Practices Create Innovation and Improved Competitiveness. Journal of Construction Engineering and Management, 143(09).
D’Agostino, B (2017) {[}Journal of Construction Engineering and Management{]} and Construction Management: A Journal and a Profession Grow Together. Journal of Construction Engineering and Management, 143(09).
Feng, K, Xiong, W, Wang, S, Wu, C and Xue, Y (2017) Optimizing an Equity Capital Structure Model for Public–Private Partnership Projects Involved with Public Funds. Journal of Construction Engineering and Management, 143(09).
- Type: Journal Article
- Keywords: Public–private partnerships; Equity capital structure; Public funds; Genetic algorithm; Monte Carlo simulation; Project planning and design;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001349
- Abstract:
Public–private partnerships (PPPs) have been utilized worldwide as an effective tool to fill the gap between a surging demand for infrastructure and a shrinking public fiscal budget. However, the successful implementations of large PPP projects are hindered by huge capital investments and high uncertainties. To solve this challenge, hosting governments may choose to offer public funds, including public equity and government subsidy, to the financing of special purpose vehicle (SPV) on the purpose of strengthening projects’ financial viability and increasing transparency of SPV’s operation. The involvement of public funds reforms the traditional equity capital structure and needs to be carefully studied. To facilitate relevant decision-making for both private and public sector, this research developed a genetic algorithm based model to simultaneously optimize private equity, public equity and government subsidy for PPP projects. The effects of risk factors are incorporated by utilizing Monte Carlo simulation. The Beijing No. 4 Metro Line project is presented to demonstrate the applicability of the model. Optimization results show that the proposed model achieves balance between satisfying project’s financial viability and saving public funds. And it will significantly facilitate both private and public sector in determining an optimal equity capital structure which are involved with public funds.
Han, S, Bouferguene, A, Al-Hussein, M and Hermann, U ( (2017) 3D-Based Crane Evaluation System for Mobile Crane Operation Selection on Modular-Based Heavy Construction Sites. Journal of Construction Engineering and Management, 143(09).
Hosseinian, S, Choi, K and Bae, J (2017) IRIER: A Decision-Support Model for Optimal Energy Retrofit Investments. Journal of Construction Engineering and Management, 143(09).
Hu, W, Shu, X, Jia, X and Huang, B (2017) Recommendations on Intelligent Compaction Parameters for Asphalt Resurfacing Quality Evaluation. Journal of Construction Engineering and Management, 143(09).
Karakhan, A A and Gambatese, J A (2017) Integrating Worker Health and Safety into Sustainable Design and Construction: Designer and Constructor Perspectives. Journal of Construction Engineering and Management, 143(09).
Liu, J, Yang, P, Xia, B and Skitmore, M (2017) Effect of Perceived Justice on Subcontractor Willingness to Cooperate: The Mediating Role of Relationship Value. Journal of Construction Engineering and Management, 143(09).
O’Brien, W J (2017) Fiatech: The Next Generation of the Capital Projects Technology Roadmap. Journal of Construction Engineering and Management, 143(09).
Olanipekun, A O, Xia, B (, Hon, C and Hu, Y (2017) Project Owners’ Motivation for Delivering Green Building Projects. Journal of Construction Engineering and Management, 143(09).
Ozbek, M E and Clevenger, C M (2017) Collaboration in Construction Academia. Journal of Construction Engineering and Management, 143(09).
Pishdad-Bozorgi, P (2017) Future Smart Facilities: State-of-the-Art BIM-Enabled Facility Management. Journal of Construction Engineering and Management, 143(09).
Prieto, R (2017) Expanding Project Management Frameworks to Address Today’s Challenges. Journal of Construction Engineering and Management, 143(09).
Rowings, J E, Jahren, C T and Jaselskis, E J (2017) Perspectives of the Journal of Construction Engineering and Management Spanning Three Decades. Journal of Construction Engineering and Management, 143(09).
Schexnayder, C (2017) The Pursuit and Sharing of Knowledge. Journal of Construction Engineering and Management, 143(09).
Shen, W, Tang, W, Wang, S, Duffield, C F, Hui, F K P and You, R (2017) Enhancing Trust-Based Interface Management in International Engineering-Procurement-Construction Projects. Journal of Construction Engineering and Management, 143(09).