인프라투자 평가모형에 대한 소고

A Review of Valuation Models for Infrastructure Investments

We review valuation models for public infrastructure investments. Since 1995, in Korea, public infrastructure projects have been able to finance private capital from public capital markets. As a result, an advance of valuation methodologies for infrastructure projects has become more critical. We review and document studies on public infrastructure projects. First, we study social valuation approaches for public infrastructure investments. Second, we investigate project valuation approaches by studying previous studies that take account of individual risks and market risks. In order to advance valuation methodologies, we suggest some policy measures and insights.