Management Review ›› 2021, Vol. 33 ›› Issue (8): 53-65.

• Economic and Financial Management • Previous Articles     Next Articles

Research on the Impact of Risk Reallocation on Private Sector's Behavior in PPP Projects——The Multiple Mediating Effects of Perceived Justice

Chen Haitao, Xu Yongshun, Chi Ming   

  1. School of Management, Jilin University, Changchun 130022
  • Received:2018-06-27 Online:2021-08-28 Published:2021-09-04

Abstract: Risk reallocation in PPP projects has an important impact on private sector's behavior. Based on the contract reference point effect and social exchange theory, this paper constructs a conceptual model including risk reallocation in PPP projects as antecedent variable, perceived justice as the mediating variable and private sector's behavior as result variable. Through a questionnaire survey, 214 pieces of valid data are obtained and the model is tested by using structural equation model, Bootstrap and PRODOCLIN methods. The results show that reasonable risk reallocation has a significant positive effect on both in-role behavior and extra-role behavior of private sector. Risk reallocation has significant positive effects on procedural justice, distributive justice and interactive justice. Perceived justice plays partial mediating role between risk reallocation and private sector's behavior while the mediating effect of each dimension is different. Among them, the distributive justice has the largest mediating effect while the procedural justice has the least intermediary effect between risk reallocation and in-role behavior in private sector. Moreover, the mediating effect of interaction justice is the largest and the one of procedural justice is the least between risk reallocation and extra-role behavior in private sector.

Key words: PPP projects, risk reallocation, perceived justice, private sector's behavior