CAJ | 학술논문

BOT融资模式和TOT融资模式是目前较为先进的两种直接投资的融资方式，主要适用于基础设施项目建设。通过对BOT和TOT项目融资模式的比较与分析，形成一种TOT—BOT组合互补的新型融资模式，该模式既发挥了BOT与TOT优势，又弥补了二者的缺陷，将此融资模式运用于产生资金流较少、但能长期稳定收益的体育场（馆）建设中，并提出了TOT—BOT组合互补模式在大型体育场（馆）融资过程中的运作程序、融资模式的框架设计、融资项目的风险评估以及在操作过程中应注意问题。
BOT융자모식화TOT융자모식시목전교위선진적량충직접투자적융자방식，주요괄용우기출설시항목건설。통과대BOT화TOT항목융자모식적비교여분석，형성일충TOT—BOT조합호보적신형융자모식，해모식기발휘료BOT여TOT우세，우미보료이자적결함，장차융자모식운용우산생자금류교소、단능장기은정수익적체육장（관）건설중，병제출료TOT—BOT조합호보모식재대형체육장（관）융자과정중적운작정서、융자모식적광가설계、융자항목적풍험평고이급재조작과정중응주의문제。
BOT and TOT are two popular margin modes ot direct investment currently, whicn are mainly used for constructions of infrastructure and foundation items. This paper figures out a margin mode of TOT-BOT combination and complementation by mean of comparison and analysis of BOT and TOT. It not only plays BOT and TOT advantage but also compensate for the shortcomings between them, which is put into use of？ construction with stadiums of less funds loss, and puts forward the operation procedure of TOT-BOT mode in financing model of large-scale gyms and stadium including it＇s frame design and risk assessment as well as some problems that we should pay attention to .