Dai Dashuang
Professor Supervisor of Doctorate Candidates Supervisor of Master's Candidates
Title : China project management institute, deputy director of the committee
Gender:Female
Alma Mater:Xi'an Jiaotong University
Degree:Master's Degree
School/Department:Faculty of Management and Economics
Discipline:Project Management
Business Address:Dalian University of Technology Faculty of Management and Economics 408
Contact Information:0411-84671816
E-Mail:daids@dlut.edu.cn
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Indexed by:期刊论文
Date of Publication:2018-01-01
Journal:MATHEMATICAL PROBLEMS IN ENGINEERING
Included Journals:SCIE、SSCI
Volume:2018
ISSN No.:1024-123X
Abstract:This study analyses the contractual efficiency of public-private partnership (PPP) infrastructure projects, with a focus on two financial aspects: the nonrecourse principal and incompleteness of debt contracts. The nonrecourse principal releases the sponsoring companies from the debt contract when the special purpose vehicle (SPV) established by the sponsoring companies falls into default. Consequently, all obligations under the debt contract are limited to the liability of the SPV following its default. Because the debt contract is incomplete, a renegotiation of an additional loan between the bank and the SPV might occur to enable project continuation or liquidation, which in turn influences the SPV's ex ante strategies (moral hazard). Considering these two financial features of PPP infrastructure projects, this study develops an incomplete contract model to investigate how the renegotiation triggers ex ante moral hazard and ex post inefficient liquidation. We derive equilibrium strategies under service fees endogenously determined via bidding and examine the effect of equilibrium strategies on contractual efficiency. Finally, we propose an optimal combination of a performance guarantee, the government's termination right, and a service fee to improve the contractual efficiency of PPP infrastructure projects.
DAI Dashuang is currently working as the professor and Ph.D. supervisor of Faculty of Management and Economics as well as the director of Product Management Research Center in Dalian University of Technology. Meanwhile, she is holding a concurrent post as the vice-chairman of Project Management Research Committee China and the chairman of Dalian Project Management Research Committee. For many years, she has been engaged in the scientific research and teaching on project management and technology innovation management. In recent years, she has been focused the research mainly on governmental public project management, project financing, R&D project management and technological innovation, etc. DAI Dashuang boasts the C-level qualification as valuer granted by International Project Management Association (IPMP) and the qualification as registered consulting engineer (investment), etc. She has presided over and finished 2 NSFC projects as the person-in-charge and participated in many NSFC projects; as the person-in-charge, she has presided over 1 project of Doctoral Fund of Ministry of Education, presided over 3 sub-projects in the major projects of “Tenth Five-year” and “Eleventh Five-year” National Defense Basic Scientific Research Program entrusted by Commission for Science, Technology and Industry for National Defense, 1 national 863 projects and 1 project of Ministry of Science and Technology; meanwhile, she has undertaken more than 20 scientific projects entrusted by local government, Second Academy of China Aerospace and enterprises. Driven by the foresaid projects, she has published over 170 academic dissertations, in which more than 50 dissertations are published in domestic academic periodicals such as Systems Engineering-Theory & Practice , China Soft Science Magazine , Journal of Industrial Engineering and Engineering Management , Forecast , Scientific Research Management , Journal of Management Science , Chinese Journal of Management and Science of Science and Management of S.&T. as the chief editor and deputy editor, DAI Dashuang has published 5 treatises like BOT project charter decision-making management , Infrastructure Projects and the Matching Method of BOT and Diffusion of Technological Innovation and more than 10 teaching books like Project Financing , Modern Project Management , Technological Innovation Diffusion and Value Engineering. Meanwhile, she has won the Second Prize of the Award for Excellent Scientific Research Results in Higher Institutions (Humanities and Social Sciences), the Second Prize of the Award for Philosophy and Social Science Achievements in Liaoning Province, the Second Prize of the Award for Scientific and Technological Progress granted by Ministry of Education (the second prize-winner), the Second and Third Prize of the Award for Scientific and Technological Progress in Liaoning Province, the First and Second Prize of the Award for Scientific and Technological Progress in Dalian City, etc. In addition, she has won many honorary titles such as March 8th Red-Banner Pacesetter, Cultural and Ideological Civilization Pacesetter in Liaoning Province, Top Ten Excellent Female Employee in Dalian City, Top Ten Most Popular Teacher in National Business Colleges (MBA) and Excellent Party Member in Dalian University of Technology, etc.
