The allocation and management of revenue risk is a critical issue in the development of
public-private partnership (PPP) concessions for new roadways. In order to attract financing …

Abstract Public–Private Partnership (PPP) programs have been developed widely for more
than 30 years across the world. The continuity of these programs depends on an adequate …

Government guarantees are often granted to increase the viability of the Public–Private
Partnership projects, although the use of these guarantees can cause problems if they are …

A fair revenue-risk allocation is essential for successful public-private partnership (PPP)
projects. In this paper, a swing option, which can hedge the underlying risk in two directions …

Government guarantees are frequently used to attract private investors' participation into
Build-Operate-Transfer (BOT) road projects. In this paper, we investigate the impact of …

The theory of real options offers an approach for the valuation of investments in real assets,
based on the methodology developed for financial options. This approach is especially …

This paper elaborates the use of project bonds and a credit default swap (CDS) in
infrastructure financing under public-private partnerships (PPPs). First, a structural model is …

Minimum revenue guarantees, where the government assumes a portion of the traffic risk to
guarantee a minimum level of revenue and profitability to the investors, is a standard risk …

Government guarantees are frequently used in public-private partnership (PPP) toll road
projects to attract private sector partners. In this paper, we propose a multi-objective …

The early termination of public–private partnerships (PPP) frequently occurs in large
infrastructure projects. Studies have analyzed the issue of compensation arising from early …