体育PPP模式REITs:内在逻辑与时代价值  

REITs Applied to Sports PPP:Internal Logic and Time Value

作　　者：臧澜 张春萍[2] 臧博 ZANG Lan;ZHANG Chunping;ZANG Bo(School of Management,Harbin Institute of Technology,Harbin 150001,China;School of Management,Beijing Sport University,Beijing 100084,China)

机构地区：[1]哈尔滨工业大学经济与管理学院,黑龙江哈尔滨150001 [2]北京体育大学管理学院,北京100084

出　　处：《建筑经济》2023年第9期23-29,共7页Construction Economy

基　　金：北京社科基金重点项目“京津冀体育产业高质量协同发展的困境与路径研究”(21YTA010);中央高校基本科研业务费专项资金资助“体育场地设施PPP模式中利益相关者冲突研究”(2023006)。

摘　　要：以体育PPP模式REITs的内在逻辑与时代价值作为研究对象。首先,在对PPP和REITs进行阐释的基础上,对两者的逻辑关系进行分析,研究发现体育PPP模式为REITs提供了大量优质资产来源,而REITs为体育PPP模式提供了新的融资渠道并提高资金的流动性。其次,研究发现体育PPP模式REITs的时代价值主要体现在三个方面:拓宽体育资产融资渠道,为防范化解政府债务提供借鉴;降低私营部门高杠杆率,提高资产周转率支持规模开发;破除体育企业参与门槛,实现体育公共服务高质量供给。This study focuses on the internal logic and time value of REITs applied to sports PPP.Firstly,based on the explanation of PPP and REITs,analyze the logical relationship between PPP and REITs,the study shows that sports PPP provides a large number of high-quality asset source for REITs,while REITs provide newfinancing channels and improve the liquidity of funds for sports PPP projects.Secondly,this study shows that the time value of REITs applied to sport PPP is mainly reflected in three aspects:expand financing channels for sports assets and provide reference for preventing and resolving government debts;reduce the high leverage ratio of the private sector and improve the asset turnover to support large-scale development;break the entry barriers for the sports enterprises and achieve high-quality supply of sports public services.

关 键 词：体育公共服务 体育场地设施 PPP REITS 资产证券化 

分 类 号：F426[经济管理—产业经济] F283