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1 – 2 of 2Wenhua Hou and Wenlu Ran
This study aims to investigate the determinants of the capital structure of public–private partnership (PPP) projects in China and the nonlinear relationship between them.
Abstract
Purpose
This study aims to investigate the determinants of the capital structure of public–private partnership (PPP) projects in China and the nonlinear relationship between them.
Design/methodology/approach
First, this study identifies potential factors that can influence the capital structure of PPP projects based on literature and theoretical analysis. Second, this paper collects data from PPP projects in China and empirically investigates them using multiple linear regression and machine learning methods. Finally, for machine learning model results, this paper adopts the Shapley additive explanations to interpret them.
Findings
The results show that project size, contract duration, number of sponsors, urbanization level and regional openness are key factors influencing project capital structure, and there is a nonlinear relationship between all these factors and capital structure.
Research limitations/implications
Theoretically, this study complements the influencing factors of PPP project capital structure and reveals their nonlinear relationship. Practically, the findings of this study can help PPP project participants formulate project capital structure more scientifically.
Practical implications
Practically, the findings of this study can help project managers to recognize the important factors affecting the capital structure of PPP projects and formulate capital structure more scientifically. Moreover the results are conducive to policymakers to predict a reasonable capital structure for PPP projects and better control project risks. These research findings can also help creditors make more accurate loan decisions and promote project success to meet the needs of the general public.
Originality/value
Most existing literature has studied the linear relationship between influencing factors and the capital structure of PPP projects. This study uses machine learning models to explore the nonlinear relationship between influencing factors and the capital structure of PPP projects and explains the working principles.
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Lingyun Zhou, Jie Wu, Dong Mu, Yachao Wu and Zhonghua Gu
As a crucial element of city planning, an adequately planned logistics center for agricultural products can improve the circulation efficiency of agricultural products, thereby…
Abstract
As a crucial element of city planning, an adequately planned logistics center for agricultural products can improve the circulation efficiency of agricultural products, thereby contributing to a convenient lifestyle of urban residents. First, this study analyzed the functional zones of urban green logistics centers for agricultural products based on low-carbon idea. A method was also proposed to calculate the area of each functional zone. Moreover, this study proposed a layout planning innovation method of urban green logistics centers for agricultural products based on logistics motion line analysis and logistics intensity calculation. Lastly, this study analyzed the application processes of the layout planning methodology according to the topographical conditions of Huai’an logistics center project case in China. Results of the case study show that the construction innovation method proposed in this study is scientific, reasonable, and practical. The construction innovation method can be also used for the planning and designing of similar urban logistics centers.
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