
Limited-and Nonrecourse Project Finance: a Survey
Author(s) -
Stefanie Kleimeier
Publication year - 2020
Publication title -
estudios de administración/estudios de administración
Language(s) - English
Resource type - Journals
eISSN - 0719-0816
pISSN - 0717-0653
DOI - 10.5354/0719-0816.1995.56694
Subject(s) - project finance , finance , project sponsorship , project charter , structured finance , financial modeling , corporate finance , business , project management , project planning , accounting , economics , management , financial crisis , macroeconomics
This paper reviews limited- and non-recourse project finance, a special financing approach for newly to be developed projects where the funds are directly linked to the cash flows of the project. This survey comprises a comprehensive literature review on project finance. Practitioner literature is reviewed with respect to project risks and hedging possibilities, project participants, the legal framework of the project company, the financial elements, and a special form of project finance: the build-operale-transfer model. Next to practitioner oriented literature, the academic literature is reviewed which models project finance as an element of a capital structure equilibrium. An appendix lists references of practitioner's articles on project finance and thus allows the reader to gather information about specific areas in project finance, for example with respect to requirements for project finance in various industries or countries.