PPP模式养老项目投资定价研究

PPP模式养老项目不同于普通项目,具有准公共产品的性质,因此,不能依据市场化定价方法来给PPP模式养老项目定价,而是需要综合考虑社会资本方、老年人群体和政府部门三者之间的利益均衡,在尽可能满足老年人支付能力的水平上实现政府补贴的最小化和社会资本方收益最大化“三方合理”的目标。作为投资决策方的社会资本,需要考虑老年人的价格接受水平、项目的合理预期收益和政府部门给予项目的补贴等因素,从而选择是否投资该项目。

Research on Investment Pricing of OLD-AGE care Projects in PPP Mode

The PPP mode pension program is different from general project, it has the nature of quasi-public products, therefore, not on the basis of market pricing method to the PPP model endowment project pricing, but need to consider the social capital, the balance of interests between and among groups and government departments in the elderly group, in as much as possible to meet the old people''s ability to pay level minimizing government subsidies and the social capital of utility maximization "tripartite" reasonable goals. As an investment decision maker, social capital needs to consider the accepted price level of the elderly, the reasonable expected return of the project and the subsidy given by the government to the project, so as to choose whether to invest in the project.