Influence of trust networks on the cooperation efficiency of PPP projects: moderating effect of opportunistic behavior

Current studies on trust relationships and their impact on project cooperation efficiency tends to start from a binary perspective of project owners and contractors; however, this viewpoint is problematized with the concept of network-level trust. This study attempted to reveal the relationship between trust networks, opportunistic behaviours, and cooperation efficiency among all participants of public-private partnership (PPP) projects and to fill in the research gaps. PLS-SEM was used to analyze 189 valid questionnaires from PPP projects of China urban rail transit. Data analysis found that opportunistic behavior is negatively correlated with project cooperation efficiency, and its moderating effect on the relationship between trust network density and project benefits efficiency is supported by data. Trust network density is positively correlated with cooperation efficiency, and negative correlation with opportunistic behavior is supported by data. There is a positive correlation between trust network centralization and opportunistic behavior, and a negative correlation between trust network centralization and cost efficiency is supported by data. The relationship between network centralization and benefits efficiency has not been supported. These conclusions can help optimize cooperation efficiency from the perspective of stakeholder management and trust networks governance.