Perception of financial institutions toward financing PFI projects in Hong Kong

Yat Hung Chiang, Eddie W.L. Cheng

Research output: Journal article publicationJournal articleAcademic researchpeer-review

12 Citations (Scopus)

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.
Original languageEnglish
Pages (from-to)833-840
Number of pages8
JournalJournal of Construction Engineering and Management
Volume135
Issue number9
DOIs
Publication statusPublished - 28 Aug 2009

Keywords

  • Build/Operate/Transfer
  • Financing
  • Hong Kong
  • Investments
  • Partnerships
  • Private Sector
  • Procurement
  • Risk Management

ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Building and Construction
  • Industrial relations
  • Strategy and Management

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