Financial Decision-making Models of Government and Concessionaires for BOT Projects

• Main Authors: Szu-Chi Huang, 黃思綺
• Other Authors: Cheng-Min Feng
• Format: Others
• Language: zh-TW
• Published: 2003
• Online Access: http://ndltd.ncl.edu.tw/handle/19998465054709900153

碩士 === 國立交通大學 === 交通運輸研究所 === 91 === Self-liquidation ratio (SLR) is one of the most important indicators to determine the investment cost for BOT projects in Taiwan. Since the current concession decision-making model based on SLR is inefficient and misleading, this study develops new models for government and concessionaires to determine their own investment cost and royalty so that they could negotiate based on their amounts. This study uses the financial cash flow concept、 mathematical analytic approach and linear programming model to develop the financial decision-making models of government and concessionaires. We look for the bargain spaces of investment cost and royalty for government and the concessionaires in premium viewpoint. The models developed in this study can explain the relationships among investment cost, royalty, government finance recovery ratio and net present value of the BOT project. It also defines an investment indicator named government finance recovery ratio (GFRR) for government to do the cost-benefit analysis. To illustrate the models in application, we conduct a case study for the container terminal in Taipei port to find the solutions of investment cost, royalty, and GFRR. The case study shows the investment cost, royalty, and GFRR in the new models can be used to interpret the financial characters for the BOT projects.