公路收费权价值确定及其转让的筹资作用

为研究公路收费权转让融资问题，运用定性分析与定量分析相结合的方法分析了确定公路收费权价值的收益现值法，并在此基础上对公路收费权转让的融资作用进行讨论。分析认为，采用收益现值法评估收费权价值是资产评估方法的理想选择；财务折现率的确定完全是交易双方讨价还价的结果；不规范行为或违规行为在一定程度上夸大了转让收费权的融资作用；如果严格执行国家有关规定，公路收费权转让的融资作用非常有限。

Determination for the value of highway tolling rights and roles in financing by transferring of highway tolling rights

In order to study the problem on financing from the transferring of highway tolling rights,the paper,with the help of qualitative analysis and quantitative analysis,studies the highway tolling rights appraisal by using income present value method,and discusses its financing role.The results show that it is realistic selection for highway value appraisal by using income present value method.The choice of the discount rate is the discussing results of both trading sides.Non-regulatory dealing may enlarge the roles in financing from the transferring of highway tolling rights.If the government regulations are carried out strictly,only small amount of funds can be raised from the transferring of highway tolling rights.