摘要
合理的控制权配置是项目成功的基础,从不完全契约视角出发,通过构建模型分析公租房PPP项目中的控制权配置和社会资本努力水平的影响因素。研究发现,政府最优的剩余控制权配置与政府初始股权占比正相关,与政府监管成本系数正相关,与社会资本边际私人收益正相关,与社会资本努力所带来的边际收入负相关。此外,合作双方不同的风险态度也是决定剩余权配置的主要因素。
The allocation of control rights is the basis of a successful Public-Private Partnership(PPP)project.From the perspective of incomplete contract theory,the article designs a model to analyze the relationship between the allocation of control rights and the level of social capital efforts in PPP projects of public housing.The results of correlation analysis show that the government’s optimal allocation of control rights is positively correlated with initial stock equity ratio of the government,the cost of government supervision coefficient,and the marginal private benefits with the efforts of social capital,but negatively correlated with marginal benefits with the efforts of social capital.In addition,the different risk attitude of both partners is also the main factor in the allocation of residual rights.
作者
严丹
刘旦
YAN Dan;LIU Dan(School of Public Management,Guangdong University of Finance&Economics,Guangzhou,Guangdong 510320;School of Tourism and Management,Jiangxi University of Finance and Economics,Nanchang,Jiangxi 330046)
出处
《怀化学院学报》
2020年第3期38-45,共8页
Journal of Huaihua University
基金
广东省哲学社会科学规划项目“新常态下广东省金融结构和就业结构的交互性及适配性研究”(GD15XLJ01)
广东省教育厅人文社会科学研究一般项目“广东新型城镇化与资源环境关系研究”(2015WTSCX034)。
关键词
公租房
剩余控制权
不完全契约
public rental housing
residual control
incomplete contract
作者简介
严丹,1982年生,女,湖北黄梅人,副教授,研究方向:房地产开发与管理、人力资源管理;刘旦,1978年生,男,江西九江人,副教授,研究方向:房地产开发与经营、工程项目管理。
