| Title |
Risk Attitude Analysis between Construction Investor and Loan Investor in International PPP Project |
| Authors |
Park, Chan Young ; Han, Seung-Heon ; Jung, Wooyong |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2019.20.5.137 |
| Keywords |
International PPP Project; Construction Investor; Loan Investor; Risk Attitude; Risk-seeking; Risk-averse |
| Abstract |
Many construction developers have tried to develop the international PPP (Public-Private Partnership) projects but frequently failed to gain loan investor approval from loan investor. Many of these failures were caused by the risk attitude gaps among project stakeholder. This study aims to compare the risk attitude between the construction investor and loan investor. This study investigated how much differently 21 construction investors and 21 loan investor recognize the risk magnitude corresponding to the same three risk status of 27 risk factors. Construction investors show a more risk-seeking attitude than loan investor in 58 of 81 risk status. Loan investors show a more risk-averse attitude than construction investors in 9 risk factors. These results will contribute to developing the successful PPP project by reducing the risk perception gap between construction investors and loan investors. |