NON-COMPETITION GUARANTEED VALUE AND EFFECT ON THE TOLL ROAD PROJECT
Zhang, GX(张国兴); Wang, P; Guo, JE; Chai, GR(柴国荣); Liu, P(刘鹏); Zhang, GX (reprint author), Lanzhou Univ, Sch Management, Lanzhou 730000, Peoples R China.
2011-05
发表期刊TRANSPORT
ISSN1648-4142
卷号26期号:2页码:178-184
出版者VILNIUS GEDIMINAS TECH UNIV
摘要A non-competition guarantee has been widely used for financing the toll road project. However, to our best knowledge, there seems to be no research about the value and incentive effect of the non-competition guarantee. In the competitive and non-competitive condition respectively, this paper constructs the models of investment value and investment threshold by adopting the option game theory and measurement approach. The results of theory derivation indicate that the non-competition guarantee plays a strong role in investment incentives by reducing investment threshold. The simulation results indicate that the non-guaranteed value increases as the expected growth rate of traffic flow increases, and decreases as volatility increases.
出版地VILNIUS
关键词non-competition guarantee toll road project option game investment threshold
学科领域Transportation
作者部门[Zhang, Guo-Xing;
Chai, Guorong;
Liu, Peng] Lanzhou Univ, Sch Management, Lanzhou 730000, Peoples R China;
[Wang, Peng] Qingdao Ocean Shipping Mariners Coll, Qingdao 266071, Peoples R China;
[Guo, Ju-E] Xi An Jiao Tong Univ, Sch Management, Xian 710049, Peoples R China
DOI10.3846/16484142.2011.590004
文章类型Article
收录类别SCIE ; EI
所属项目编号National Natural Science Foundation of China [70773091, 70702013] ; Ministry of Education, Humanities and Social Sciences [10YJC630377]
语种英语
资助项目国家自然科学基金项目 ; 教育部人文社会科学研究一般项目
项目资助者NSFC ; MOE
WOS记录号WOS:000292278000009
EI记录号20113814333229
第一机构
Citation statistics
文献类型期刊论文
条目标识符http://ir.lzu.edu.cn/handle/262010/102981
Collection管理学院_工商管理&公共管理&信息管理
通讯作者Zhang, GX (reprint author), Lanzhou Univ, Sch Management, Lanzhou 730000, Peoples R China.
Recommended Citation:
GB/T 7714
Zhang, GX,Wang, P,Guo, JE,et al. NON-COMPETITION GUARANTEED VALUE AND EFFECT ON THE TOLL ROAD PROJECT[J]. TRANSPORT,2011,26(2):178-184.
APA Zhang, GX,Wang, P,Guo, JE,Chai, GR,Liu, P,&Zhang, GX .(2011).NON-COMPETITION GUARANTEED VALUE AND EFFECT ON THE TOLL ROAD PROJECT.TRANSPORT,26(2),178-184.
MLA Zhang, GX,et al."NON-COMPETITION GUARANTEED VALUE AND EFFECT ON THE TOLL ROAD PROJECT".TRANSPORT 26.2(2011):178-184.
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