Risk Premium Allocation Study for BOT Project Based on CAPM

摘要

According to the limited recourse or non-recourse financing characteristics of BOT project,we establish a BOT risk premium allocation model using CAPM method.In this model,we analysis the different risks and relative risk compensations of the project company and the creditor and verify the rationality of their risk compensations.As a result,criterions of BOT financing feasibility are given out.Finally,we will use a numerical example to certify the viability of this result.