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首页> 外文期刊>Revista Direito GV >Estrutura híbrida de governan?a entre companhias públicas e parceirosprivados: o caso Infraero no setor aeronáutico brasileiro
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Estrutura híbrida de governan?a entre companhias públicas e parceirosprivados: o caso Infraero no setor aeronáutico brasileiro

机译：上市公司与私人合作伙伴之间的混合治理结构：巴西航空业的Infraero案例

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摘要

A public-private partnership (PPP) model has been adopted in Brazil for the modernization of its main national airports. Until 2017, the institutional setup imposed the public company Infraero to participate with 49% in the joint venture for the management of the airports subject to PPP. The remaining 51% shares belong to private companies, namely those that constitute the consortium group that won the correspondent public tender. This paper analyses this hybrid governance structure, including the main advantages and disadvantages, for both government and private parties, in maintaining a state-owned enterprise with a mandatory 49% share in the winner consortium. It focuses on five main aspects: access to knowledge; government influence on decisions, funding, and risk-sharing; cross subsidization and competition. The paper also summarizes its main findings and recommendations for future rounds of airport concessions in Brazil, in particular to underline overall inconveniences of the mandatory rule that imposes to Infraero a 49% share in all winner consortiums.
机译：巴西已采用公私合营（PPP）模式对其主要国家机场进行现代化改造。直到2017年，机构设置迫使上市公司Infraero与49％的公司共同参与合资企业，以管理受PPP约束的机场。其余51％的股份属于私人公司，即构成赢得相应公开招标的财团的公司。本文分析了这种混合型治理结构，包括对政府和私人双方的主要利弊，以维持国有企业在获胜者财团中必须拥有49％的强制性股份。它着重于五个主要方面：获取知识;获取知识。政府对决策，资金和风险分担的影响;交叉补贴和竞争。本文还总结了其对巴西未来几轮机场特许经营的主要发现和建议，特别是强调了强制性规则的整体不便之处，该强制性规则迫使Infraero在所有获胜者财团中占有49％的份额。

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