Research Article

Impact of Rule Governance Mechanism on Project Performance in Public Rental Housing PPP Projects: Control Rights as a Moderating Variable

Table 1

Variable measures and questionnaire items.

Factor constructVariablesMeasurements

Rules governance (RG)Project selection mechanism (RG1)X1The evaluation procedure is standard and effective, and the evaluation process is transparent and scientific
X2The opinions of social capital were consulted in the preparation of the scheme, and their questions were responded and fully considered
X3Important project decisions were made in time, and project approval was efficient and fast
X4The quality and depth of the project consultation report could meet the requirements, and the plan was reasonable and feasible
X5The project has strong policy support and strong operability
X6The area where the project is located has complete facilities for public buildings and a reasonable distribution of public rental housing
Project bidding mechanism (RG2)X7The project bidding procedure is legal and compliant, and the bidding review is objective and fair
X8The contents of project bidding documents are complete, and the scoring standard is reasonable and clear
X9The bidding conditions of the project are set appropriately, and the reputation and qualifications of bidders are valued
X10The project adopts competitive bidding with sufficient competition among bidders
X11The government has carried out effective supervision on project bidding and tendering
Risk reward mechanism (RG3)X12Project risks are allocated to those who are best able to manage them
X13There are reasonable solutions to unforeseen and controversial risk events
X14The content and calculation standard of project company’s remuneration are reasonable
X15Income distribution is consistent with risk sharing
X16A reasonable economic reward mechanism is set up, and the reward degree is directly related to the efforts of all parties in the project
Project supervision mechanism (RG4)X17The implementing agency has formulated clear and reasonable regulatory indicators for the project
X18Channels for residents to participate are set up in the project supervision mechanism
X19Project penalty clauses effectively improve the efforts of social capital
X20The government’s performance evaluation results of social capital were published on relevant media
X21The public’s response to the project has an incentive effect on the government

Project controlling right (PCR)X22Allocation of project decision-making rights
X23Allocation of project dividend rights
X24Allocation of project withdrawal rights
X25Allocation of project management rights
X26Allocation of project assignment rights

Project performance (PP)X27The quality of the project meets the quality standards agreed in the contract
X28The project is or will be completed on schedule
X29The actual investment of the project is within the budget
X30Project maintenance and management meet contract requirements
X31The vacancy rate of the project is within the contract
X32The living environment condition of the project is not lower than that of ordinary residence
X33The project meets the requirements of stakeholders
X34Your organization and partners are willing to continue to cooperate in the future