Identifying the strengths, weaknesses, opportunities and threats to TOT and divestiture business models in China's water market

Title
Identifying the strengths, weaknesses, opportunities and threats to TOT and divestiture business models in China's water market
Author(s)
장원석Dong-Eun Lee[Dong-Eun Lee]Jae-Ho Choi[Jae-Ho Choi]
Keywords
SUPPLY PROJECTS
Issue Date
201402
Publisher
ELSEVIER SCI LTD
Citation
INTERNATIONAL JOURNAL OF PROJECT MANAGEMENT, v.32, no.2, pp.298 - 314
Abstract
This study attempts to enhance the understanding of the two emerging public private partnership (PPP) business models Transfer-Operate-Transfer (TOT) and divestiture in the context of Chinese water sector. Foreign investors aiming to enter or expand their share in the market need to select an optimal PPP model between competing ones through a strengths, weaknesses, opportunities, and threats (SWOTs) analysis. For the purpose, we employ the triangulation approach consisting of an opinion survey to measure the level of consensus on each of a total of eleven SWOT factors surrounding TOT and divestiture models, and in-depth case studies on the two-representative TOT and divestiture projects. Our assessments indicate the emergence of a strong consensus between interviewees regarding bid premium, financial burden, and bidding method in TOT and fixed-return provisions, operational management efficiency, majority control, and equity transfer proportion in divestiture. However, it is advised that foreign investors should be flexible in interpreting the factors and respond them at the solution level considering a project-specific environment. (C) 2013 Elsevier Ltd. APM and IPMA. All rights reserved
URI
http://hdl.handle.net/YU.REPOSITORY/33135http://dx.doi.org/10.1016/j.ijproman.2013.04.007
ISSN
0263-7863
Appears in Collections:
공과대학 > 건설시스템공학과 > Articles
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