Analysis of the Social Capital Financial Characteristics of Chinese PPP Projects

Yufei Qin () and Xuemeng Guo ()
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Yufei Qin: Beijing Jiaotong University
Xuemeng Guo: Beijing Jiaotong University

A chapter in IEIS 2020, 2021, pp 191-202 from Springer

Abstract: 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.

Keywords: Financial characteristics; PPP concept stocks; Propensity score matching; Solvency (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-33-4363-4_15

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DOI: 10.1007/978-981-33-4363-4_15

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