CAJ | 학술논문

资金价值评估是目前PPP项目经济评价的核心。作为目前国际应用前景最广阔的方法，PSC评价法被广泛应用于PPP项目的资金价值评估。但是，PSC评价法存在过多假设条件、折现率取值和周期性等缺陷。针对我国目前PPP项目评估现状，通过对PSC评价法存在问题的分析，从PSC值确定、风险调整以及折现率方面对PSC评价法进行改进，并提出契合我国具体国情的保障措施，最后通过案例分析对PSC评价法的运用进行了说明。
자금개치평고시목전PPP항목경제평개적핵심。작위목전국제응용전경최엄활적방법，PSC평개법피엄범응용우PPP항목적자금개치평고。단시，PSC평개법존재과다가설조건、절현솔취치화주기성등결함。침대아국목전PPP항목평고현상，통과대PSC평개법존재문제적분석，종PSC치학정、풍험조정이급절현솔방면대PSC평개법진행개진，병제출계합아국구체국정적보장조시，최후통과안례분석대PSC평개법적운용진행료설명。
Value for money assessment is the core of economic evaluation of PPP projects. As the methods with the most extensive international application prospects, PSC evaluation method is widely used in PPP project to evaluate the VFM. However, there are some defects in PSC evaluation, such as many assumption, the value of discount rate, project＇s periodic and so on. Based on the current evalu- ation of PPP project and the analysis of PSC evaluation problems, the paper makes improvement from the aspects of determination to raw PSC, risk adjustment and discount rate. Besides, according to our country＇s specific conditions, the paper puts forward three measures. Finally, the application of PSC evaluation is described by case analysis.