Chiang, Y H and Cheng, E W L (2009) Perception of financial institutions toward financing PFI projects in Hong Kong. Journal of Construction Engineering and Management, 135(9), pp. 833-840. ISSN 0733-9364
Abstract
Private finance initiative (PFI) has emerged to be a viable strategy for governments to transfer financial risks in public projects to the private sector. It does not only help tap the efficiency and finances of the private sector but it also promises to deliver better public services to the community. Despite these obvious incentives, there is still a low PFI diffusion in Hong Kong. Based on this understanding, we have undertaken this exploratory study, which is probably the first of its kind, to investigate the PFI's financial issues from the perspective of financial suppliers. This study was intended to identify factors that may affect the perception of the supplier side and to explore ways to facilitate their participation in PFI projects. The findings suggest that respondents had low level of understanding and knowledge of the PFI and they perceived that PFI public projects had an average risk and performance. To increase their involvement, several enablers are provided in this paper.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | build/operate/transfer; financing; Hong Kong; investments; partnerships; private sector; procurement; risk management |
| Index terms: | financing, Hong Kong, public services, private sector, public project, efficiency, strategy, risk management, exploratory study, partnership, low level, private finance initiative |
| Subjects: | performance management, contractual arrangements, management, infrastructure engineering, risk assessment, economic analysis, Geography, industry analysis, research methods, partnership management, administrative law, measurement and scaling |
| Topics: | Geographical Context, Business Strategy, Quality Management, Legal Issues, Research Practice, Risk Management, Stakeholder Management, Engineering Principles, Procurement |
| Descriptive scope: | 3 PCA |
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