dc.creator | Irimia Diéguez, Ana Isabel | es |
dc.creator | González Villegas, Juan Bernal | es |
dc.creator | Oliver Alfonso, María Dolores | es |
dc.date.accessioned | 2018-12-07T13:06:48Z | |
dc.date.available | 2018-12-07T13:06:48Z | |
dc.date.issued | 2014 | |
dc.identifier.citation | Irimia Diéguez, A.I., González Villegas, J.B. y Oliver Alfonso, M.D. (2014). The financial performance of an innovative megaproject. Procedia: Social and Behavioral Sciences, 119, 417-426. | |
dc.identifier.issn | 1877-0428 | es |
dc.identifier.uri | https://hdl.handle.net/11441/80859 | |
dc.description.abstract | The financial structure of megaprojects, known in the literature as project finance, is characterized by the creation of a legally
independent project company financed with a concentrated equity ownership and a high level of non-recourse debt. Research in
this field may yield new ideas and theories about the existing theoretical framework on capital structure, stakeholder
management and risk management. A case-study is analyzed in this paper: the financial performance of the first metro line in
Seville (Spain). In spite of previous cost overruns in the construction stage, the present operation stage is considered successful
from the point of view of social and financial profitability, whereby the risks have been theoretically transferred to stakeholders,
as defined by Value for Money considerations.
The objective of this study involves: first to determine whether this megaproject meets the expectations for which it was created
in terms of hope of return of the shareholders, and the expectations of the economic and financial feasibility under a change of
subsidy policies; and secondly to determine whether the conditions remain for not including the investment as public debt. This
issue is crucial in a budgetary constraint context for the planning of future metro lines. By taking this first experience into
account, this article also provides information for potential participants in the projects of the new metro lines, which are
currently in the planning stage. | es |
dc.format | application/pdf | es |
dc.language.iso | eng | es |
dc.publisher | Elsevier | es |
dc.relation.ispartof | Procedia: Social and Behavioral Sciences, 119, 417-426. | |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 Internacional | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/ | * |
dc.subject | Project finance | es |
dc.subject | Financial performance | es |
dc.subject | Capital structure | es |
dc.subject | Metro de Sevilla | es |
dc.subject | Public-private partnership | es |
dc.title | The financial performance of an innovative megaproject | es |
dc.type | info:eu-repo/semantics/article | es |
dcterms.identifier | https://ror.org/03yxnpp24 | |
dc.type.version | info:eu-repo/semantics/publishedVersion | es |
dc.rights.accessRights | info:eu-repo/semantics/openAccess | es |
dc.contributor.affiliation | Universidad de Sevilla. Departamento de Economía Financiera y Dirección de Operaciones | es |
dc.relation.publisherversion | https://core.ac.uk/download/pdf/82348427.pdf | es |
dc.identifier.doi | 10.1016/j.sbspro.2014.03.047 | es |
idus.format.extent | 10 | es |
dc.journaltitle | Procedia: Social and Behavioral Sciences | es |
dc.publication.issue | 119 | es |
dc.publication.initialPage | 417 | es |
dc.publication.endPage | 426 | es |