國立虎尾科技大學 |

Optimizing financial structure of transportation public-private partnership infrastructure projects based on traffic revenue risks : = Case study of US DBFOM project.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Optimizing financial structure of transportation public-private partnership infrastructure projects based on traffic revenue risks :/
Reminder of title:	Case study of US DBFOM project.
Author:	Chung, Jae Ho.
Description:	1 online resource (307 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 77-08(E), Section: B.
Contained By:	Dissertation Abstracts International77-08B(E).
Subject:	Civil engineering. -
Online resource:	click for full text (PQDT)
ISBN:	9781339539607

Optimizing financial structure of transportation public-private partnership infrastructure projects based on traffic revenue risks : = Case study of US DBFOM project.
Chung, Jae Ho.

Optimizing financial structure of transportation public-private partnership infrastructure projects based on traffic revenue risks :Case study of US DBFOM project. - 1 online resource (307 pages)

Source: Dissertation Abstracts International, Volume: 77-08(E), Section: B.

Thesis (Ph.D.)--University of Florida, 2015.

Includes bibliographical references

Infrastructure developments via public-private partnership has been used to remedy the lack of available government infrastructure funding by increasing the efficiency of project delivery. Private sector participation and investment are crucial to address the insufficiencies and fill the financial gaps left by the lack of government funds. However, private investors seldom participate in infrastructure investment projects because of a history of project failures due to unrealistic financial structures and infeasible traffic revenue forecasts. Therefore, this research project investigated traffic revenue risks and financial structures with the objective of developing a robust cash flow model with a steady revenue-generating structure for transportation infrastructure projects to attract additional private investors to the capital infrastructure investment projects.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9781339539607Subjects--Topical Terms:

561339
Civil engineering.
Index Terms--Genre/Form:

554714
Electronic books.

Optimizing financial structure of transportation public-private partnership infrastructure projects based on traffic revenue risks : = Case study of US DBFOM project.
LDR:03785ntm a2200337Ki 4500 001 916735
005 20180928111500.5
006 m o u
007 cr mn||||a|a||
008 190606s2015 xx obm 000 0 eng d
020 $a 9781339539607
035 $a (MiAaPQ)AAI10035729
035 $a AAI10035729
040 $a MiAaPQ $b eng $c MiAaPQ $d NTU
100 1 $a Chung, Jae Ho. $3 1190554
245 1 0 $a Optimizing financial structure of transportation public-private partnership infrastructure projects based on traffic revenue risks : $b Case study of US DBFOM project.
264 0 $c 2015
300 $a 1 online resource (307 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Dissertation Abstracts International, Volume: 77-08(E), Section: B.
500 $a Adviser: Ralph Ellis.
502 $a Thesis (Ph.D.)--University of Florida, 2015.
504 $a Includes bibliographical references
520 $a Infrastructure developments via public-private partnership has been used to remedy the lack of available government infrastructure funding by increasing the efficiency of project delivery. Private sector participation and investment are crucial to address the insufficiencies and fill the financial gaps left by the lack of government funds. However, private investors seldom participate in infrastructure investment projects because of a history of project failures due to unrealistic financial structures and infeasible traffic revenue forecasts. Therefore, this research project investigated traffic revenue risks and financial structures with the objective of developing a robust cash flow model with a steady revenue-generating structure for transportation infrastructure projects to attract additional private investors to the capital infrastructure investment projects.
520 $a The developed baseline cash flow model that follows from the private activity bond (PAB) transcripts did not meet the repayment schedule and criteria due to insufficient traffic revenues and overestimated debt amounts. To solve these problems, an optimization model that included the four major financial sources -public funds, PABs, Transportation Infrastructure Finance and Innovation Act (TIFIA), and equity-was applied. Non-linear multi-objective optimization methods were applied with the goal of maximizing the internal rate of return (IRR) for equity investors and satisfying the repayment criteria for lenders. A toll price rate of increase of 2.5% was assumed in the baseline model, and a sensitivity analysis was conducted on the toll price because this factor directly impacts the entire cash flow.
520 $a This research concluded that optimized financial structures require an average of 7.15% greater equity contribution than the baseline projection to satisfy both lenders and investors. However, the optimized IRR decreased by approximately 0.3967% compared with the baseline model. Additionally, an average minimum increase of 2.25% in the toll price was required to avoid project defaults. Furthermore, the TIFIA sensitivity results showed that maximum TIFIA participation is recommended together with a 2.50% rate of increase in the toll price due to lower interest rates and flexible repayment schedules. Finally, additional equity contributions enable a stable financial structure but will result in a lower return. Thus, the debt and equity tradeoff should be optimized for proper infrastructure investment.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Civil engineering. $3 561339
655 7 $a Electronic books. $2 local $3 554714
690 $a 0543
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a University of Florida. $3 845432
773 0 $t Dissertation Abstracts International $g 77-08B(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10035729 $z click for full text (PQDT)