Wang, Y and Jin, X (2021) Structural risk of diversified project financing of city investment company in China based on the best worst method. Engineering, Construction and Architectural Management, 28(1), pp. 196-215. ISSN 0969-9988
Abstract
Purpose: City investment companies (CICs) in China, set up and funded by the government, are playing an important role in the construction of urban infrastructure in China. The purpose of this paper is to analyze the structural risk of diversified project financing of CICs and explore its key influencing factors. Design/methodology/approach: The best worst method (BWM) is used in this study to empirically analyze and quantitatively study the optimization of the structural risk of diversified financing of CICs. Findings: In this study, the structural risk of diversified financing of CICs has been clearly defined, and its key evaluation indexes, including the structure of projects, the structure of financing, asset-liability ratio, earnings before interest and tax margin, the rate of return on capital and the ratio of long-term debt and short-term debt, have been determined. What is more, a comprehensive evaluation system of the structural risk of diversified financing has been established. Originality/value: This study has established a comprehensive evaluation system of the structural risk of diversified financing. Based on the validated systematic evaluation, comparison and ranking of the structural risk of diversified financing of CICs by using the BWM, the ranking results can help investors to select the CICs with small structural risk of diversified financing to invest.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | decision support systems; organization; project management; risk management |
| Index terms: | investor, influencing factor, risk management, project management, liability, decision support, urban infrastructure, methodology, financing, China |
| Subjects: | project management theory and practice, Geography, research methods, liability law, infrastructure and transport systems, decision analysis, sociology, risk assessment, economic analysis |
| Topics: | Geographical Context, Project Management, Research Practice, Business Strategy, Stakeholder Management, Risk Management, Legal Issues, Urban Studies |
| Descriptive scope: | 3 PCT |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here