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Analysis of the Social Capital Financial Characteristics of Chinese PPP Projects

In: Ieis 2020

Author

Listed:
  • Yufei Qin

    (Beijing Jiaotong University)

  • Xuemeng Guo

    (Beijing Jiaotong University)

Abstract

Based on the data of Chinese listed companies, this paper selects listed companies that have participated in or are participating in PPP projects, which are called PPP concept stocks, as the research object, and uses the propensity score matching method to find matching companies for them. From the micro level, it quantitatively analyzes which financial characteristics of the social capital side affect the degree of participation in the PPP project. The following conclusions: The four characteristics of an enterprise’s solvency, profitability, asset management capability, and nature of equity have a significant negative impact on its participation in PPP projects, of which the impact of solvency, is particularly important. The statistical significance of the profitability indicator will become more significant when the company focuses on its ability to repay its current liabilities.

Suggested Citation

  • Yufei Qin & Xuemeng Guo, 2021. "Analysis of the Social Capital Financial Characteristics of Chinese PPP Projects," Springer Books, in: Menggang Li & Gábor Bohács & Guowei Hua & Daqing Gong & Xiaopu Shang (ed.), Ieis 2020, pages 191-202, Springer.
    • Handle: RePEc:spr:sprchp:978-981-33-4363-4_15
    DOI: 10.1007/978-981-33-4363-4_15
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