|
|
|
| Research on the Implementation of Commercial Bank Digital Transformation Business in the Investment and Financing of Highway Transportation Clean Energy Facility Construction |
| CHEN Qi-yuan, LIAO Hui-yi |
| Central University of Finance and Economics, Beijing 102206, China |
|
|
|
|
Abstract In the context of carbon peaking and carbon neutrality policy, the promotion of highway transportation clean energy facility construction is in urgent need. This paper suggests that a new business model can be applied to solve the financing problem in this field which is referred to as "DTBB". The paper first gives the definition of the DTBB business. In DTBB business, commercial banks provide favorable financing for highway transportation clean energy facility construction projects. In exchange, future cash flow generated by the projects will be deposited into commercial banks. Using mathematical model, this paper then gives the theoretical value of DTBB in providing funds for the construction of clean energy facilities in highway transportation. Theoretical model suggests that the ability of providing funds is proportional to the cash flow generated by highway transportation clean energy facility construction projects for DTBB. And the risk of DTBB will gradually decrease with the growing number of similar businesses carried out by commercial banks. This dissertation follows a case-study design, with in-depth research of wireless charging highway project and hydrogen refueling station in the future. The results show that (1) the theoretical value of DTBB is about 15.7% of the total initial investment of the hydrogen refueling station project when discounting rate of the project is 0.1 and the lifetime of the project is 15 years; (2) the theoretical value of DTBB is about 1.4% of the total initial investment of the wireless charging highway project when discounting rate of the project is 0.1 and the lifetime of the project is 15 years.
|
|
Received: 07 May 2022
|
|
|
|
[1] BYK C, ABARESHI A, PAZ A, et al. Smart Mobility Adoption:A Review of the Literature[J]. Journal of Open Innovation:Technology, Market, and Complexity, 2021, 7(2):146.
[2] SCHILLER P L, BRUUN E C, KENWORTHY J R. An Introduction to Sustainable Transportation:Policy, Planning and Implementation[J]. Engineering Sustainability, 2012, 165(3):233-233.
[3] BANISTER D. The Sustainable Mobility Paradigm[J]. Transport Policy, 2008, 15(2):73-80.
[4] GIVONI M, Banister D. Moving Towards Low Carbon Mobility[M]. Cheltenham:Edward Elgar Publishing Ltd, 2013.
[5] JIANG Jian-xun, TANG Yu-cheng, LI Xiao-jing. Digital Financial Energy New Energy Enterprise Green Innovation under Double Carbon Background:Based on Financing Constraint Perspective.[J]. Contemporary Economic Management. 2021, 44(5):81-89. (in Chinese)
[6] LI Hong. On Construction of NPO'S Social Credit[J]. Journal of Shanghai University:Social Sciences Edition, 2003, 11(1):32-36. (in Chinese)
[7] DELL'ARICCIA G, MARQUEZ R. Information and Bank Credit Allocation[J]. Journal of Financial Economics, 2004, 72(1):185-214.
[8] PERBOLI G, FERRERO F, MUSSO S, et al. Business Models and Tariff Simulation in Car-sharing Services[J]. Transportation Research Part A:Policy and Practice, 2018, 115:32-48.
[9] DAI Yi-yi, ZHANG Peng-dong, PAN Yue. The Role of Honesty in Public Firms' Bank Loans:Evidence from China.[J]. Journal of Financial Research, 2019, 470(8):77-95. (in Chinese)
[10] LONG Hai-ming, WANG Zhi-peng. Credit Reporting System, Legal Right Protection and Bank Credit.[J]. Journal of Financial Research, 2017, 440(2):117-130. (in Chinese)
[11] DIAS F F, LAVIERI P S, GARIKAPATI V M, et al. A Behavioral Choice Model of the Use of Car-sharing and Ride-sourcing Services[J]. Transportation, 2017, 44:1307-1323.
[12] CUI L, YU R F, YAN Q et al. When Big Data Meets Software-defined Networking:SDN for Big Data and Big Data for SDN[J]. IEEE Network, 2016, 30(1):58-65.
[13] SHARPE W F. Capital Asset Prices:A Theory of Market Equilibrium under Conditions of Risk[J]. Journal of Finance, 1964, 19(3):425-442.
[14] BAI Tao. Research on the Reform of Transportation Infrastructure Investment and Finance[J]. Finance & Accounting for Communications, 2022(2):41-47. (in Chinese)
[15] TURETKEN O, GREFEN P, GILSING R, et al. Service-Dominant Business Model Design for Digital Innovation in Smart Mobility[J].Business & Information Systems Engineering, 2019, 61(1):9-29.
[16] KONG Dong-min, LI Hai-yang, YANG Wei. Targeted RRR Cuts, Loan Availability, and the Trade Credit of SMEs:Evidence Based on Regression Discontinuity Design[J]. Journal of Financial Research, 2021, 489(3):77-94. (in Chinese)
[17] LONGSTAFF F A, MITHAL S, NEIS E. Corporate Yield Spreads:Default Risk or Liquidity? New Evidence from the Credit Default Swap Market[J]. The Journal of Finance, 2005, 60(5):2213-2253
[18] JIANG Xuan-yu, JIA Jing, LIU Qi. Debt Structure Optimization and Corporate Innovation:A Study from the Perspective of Corporate Bond Financing.[J].Journal of Financial Research, 2021, 490(4):131-149. (in Chinese)
[19] BERRY G D, PASTERNAK A D, RAMBACH G D, et al. Hydrogen as a Future Transportation Fuel[J]. Energy, 1996, 21(4)(4):289-303.
[20] VIKTORSSON L, HEINONEN J T, SKULASON J B, et al. A Step Towards the Hydrogen Economy-A Life Cycle Cost Analysis of A Hydrogen Refueling Station Energies[J]. Energies 2017, 10(6):763.
[21] FULLER S K, PETERSEN S R. Life-Cycle Costing Manual for the Federal Energy Management Program[M]. Gaithersburg:National Institute of Standards and Technology, 1996.
[22] QIU C, CHAU K T, WOOD C T, et al. Overview of Wireless Charging Technologies for Electric Vehicles[J]. Journal of Asian Electric Vehicles, 2014, 12(1):1679-1685. |
|
|
|
2022, Vol. 16 
