Evaluation Research on policy risk of BOT project in Expressway Based on Structural Equation

Due to large capital investment and long time span, there are big risks on BOT project. In all of them, the policy risk prediction is the most difficult. This paper takes the policy risk of BOT project as research object, and establishes the evaluation index system of policy risk and structural equation with the structural equation approach. And fitting tests and model parameter estimation are done through the data of questionnaires. Besides, analyze the influence of various factors of policy risks and the relationship among policy risk factors. This paper provides a reference way for quantitative evaluation of the policy risk of BOT project.