bot項(xiàng)目的金融風(fēng)險(xiǎn)【外文翻譯】

1、本科畢業(yè)論文（設(shè)計(jì)）外文翻譯原文：原文：TheFinancialRisksinBOTProjects.Inthisresearchfinancialrisksareconsideredastherisksthathaveanegativeimpactonthecashflowsofthefinancialplaninawaythatendangersproject’sviabilitylimitsprofitability.Itincl

2、udesaboutseverallevelsofMarketrootedrisks.LoanriskTheloansgrantedtotheconcessionairetofundtheconstructionofaBOTprojectcanbeofseveraltypesshtlongtermloanswithfixedfloatinginterestratewithsimplecompoundinterest.Thetypeofth

3、eloanthecostwhichincludesallnecessarycoststotakeitouttheinterestratestorepayitanynecessaryspecificprovisionsareincludedinthespecificloansystemthatgovernsthewholelifecycleoftheproject.Theappropriatepercentageofloanstotheo

4、verallfundingplanisafunctionofmanyparametersincludingamongothersconsiderationsofconflictinginterestsbetweenthelendersthebrowerscredibilityofthelendingganizationsthebrowersabilityfadditionalloansrenewaloftheexistingonessa

5、fetyofthedebtamtizationschedule.Anonprotectedloansystemagainstallriskswoulddiscouragepotentiallendersfromfundingtheprojectinthefirstplacewouldfcethemtotakeextrasecuritymeasuresftheirinvestmentwithaconsequentoverburdenoft

6、hetotalcosts.Difficultiesoftheconcessionaireinservingthedebtofloanscancauseimpositionofheavierloanconditionssuchasadditionalguaranteesstrictersupervisionmeasureshigherinterestratesfasterdebtamtizationrestrictionsindivide

7、ndsstricterrequirementsfbalancedliquidity.Inextremecaseslenderscouldevenclaimtoundertaketheproject.guaranteesinthenegotiationstageconcerning:(1)protectionfromcompetitiveprojects(includingthoseinpublicownership)(2)lowrate

8、sofdevelopmentdeficienciesofthepublicauthitiesplanningfinally(3)theproject’sviabilityprofitability.Onthecontraryinefficientestimationofthecompetitionissuesjeopardizestheproject’ssuccess.TaxationriskThetaxrateisalwaysanim

9、ptantfactftherealizationofaninvestment.Theconcessionaireisinterestedinretainingasteadytaxsystemfthewholelifecycleoftheproject.Thatcanbeachievedthroughspecialtaxprovisionsthatrefertofeigninvestments.Suchprovisionsarecommo

10、nindevelopingcountriesindertoattractfeignfundstothenationaleconomytheyincludereducedtaxratesfcpationstaxshieldsetc.Howeverasteadytaxregimefaperiodofmethan30yearsisnotalwaysfeasible.Becausethereisnoparticulartaxtreatmentf

11、certaininvestmentsbutdifferentkindofprovisionsreferingeneraltofeignfundsinvestedinahostcountryitisexpectedthatsuchprovisionsareamendable.Ataxrefmthatimposesheaviertaxesfbothcpationsindividualscanaffectadverselytheprofita

12、bilityoftheproject.Increasesoftariffstaxescustomdutiescancellationoftaxrelievesexemptionssimilarprovisionsdirectlyreduceprofitsftheconcessioncompany.Ontheotherhaheaviertaxationleadstothereductionoftheconsumer’spurchasing

13、powerthuscausingfallofdem.Thestrongersuchacontingencywouldbethemediscouragementfpotentialinvestsitcouldcause.FluctuationoftheinflationrateTheinflationrateaffectstheprojectfromtheconstructiontothetransferphase.Anincreaseo

14、ftheinflationcausesincreaseofproductioncosts(supplieswagesoperationcostsetc.)whichistransferredtotheproduct’sservice’spurchasevaluetocovertheloses.Furthermethisaffectsnegativelythedemasthepurchasingpoweroftheendusersisal