Title : Empirical Analysis on Private Investment in North America Infrastructure Development via Public-Private Partnerships: Leverage, Demand, and Performance

Agency/company : Gina Cody School of Computer Science and Engineering (Canada)

Role : Principal Investigator

Abstract: The overarching objective of this research is to empirically examine the effectiveness and performance of infrastructure P3 (Public-Private Partnership) in North America (Canada and USA) in terms of using private capital for the construction and rehabilitation of infrastructure facilities. The specific research objectives are to: (1) explain the capabilities of infrastructure P3 on attracting private equity, with considerations of the variability by project features, external investment environment, and investors’ awareness for P3; (2) analyze the P3 bond performance (such as yield and liquidity) – an indicator of the demand-supply relationship on investment opportunities attributed to P3 – with consideration of the variability by capital structures, issuer’s credit history, project features, external investment environment, and investors’ awareness for P3; and (3) identify the impacts of P3’s capital structure on projects’ cost performance, schedule performance, value for money, use of local contractors, and sustainable infrastructure rating certifications (such as INVEST, STARS, Envisions, etc.).