基于层次分析法的PPP项目融资渠道选择探究

摘要

Financing is an important stage in the process of PPP project. How to make an optimal choice when faced with multiple channels of financing has become a problem the policy makers have to consider. This article uses AHP, with the consideration of the four factors such as the financing cost, the freedom of the funds, lending conditions and project control rights, builds PPP financing channel selection model based on the AHP with some eases. The effect of the model application is analyzed, which provides some suggestions for the financing channel choice in PPP project.%融资是PPP项目运作的一个重要阶段，面临多个融资渠道时如何进行最优选择成为决策者不得不考虑的问题。最优融资渠道并非固定的，外部条件（例如国家对项目的支持程度、利率等）的变化也会影响融资渠道的选择。层次分析法为我国当前准公益性基础设施PPP项目融资渠道的选择提出了一种有效的定量分析思路，通过对不同融资渠道的不同准则下的综合比较选择最优融资渠道，可以使决策更具客观性、科学性。