Perception of Financial Institutions toward Financing PFI Projects in Hong Kong
Publication: Journal of Construction Engineering and Management
Volume 135, Issue 9
Abstract
Private finance initiative (PFI) has emerged to be a viable strategy for governments to transfer financial risks in public projects to the private sector. It does not only help tap the efficiency and finances of the private sector but it also promises to deliver better public services to the community. Despite these obvious incentives, there is still a low PFI diffusion in Hong Kong. Based on this understanding, we have undertaken this exploratory study, which is probably the first of its kind, to investigate the PFI’s financial issues from the perspective of financial suppliers. This study was intended to identify factors that may affect the perception of the supplier side and to explore ways to facilitate their participation in PFI projects. The findings suggest that respondents had low level of understanding and knowledge of the PFI and they perceived that PFI public projects had an average risk and performance. To increase their involvement, several enablers are provided in this paper.
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Acknowledgments
This study was jointly funded by grants from the Hong Kong Polytechnic University (UNSPECIFIEDProject No. A-PF57) and the Research Grants Council of Hong Kong Special Administrative Region (UNSPECIFIEDRGC Reference PolyU 5144/06E).
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Information
Published In
Journal of Construction Engineering and Management
Volume 135 • Issue 9 • September 2009
Pages: 833 - 840
Copyright
© 2009 ASCE.
History
Received: Nov 27, 2007
Accepted: Apr 10, 2009
Published online: Aug 14, 2009
Published in print: Sep 2009
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