摘要
由于BOT(Build-Operate-Transfer)项目契约的不完全性特征,经营方在特许期内为了追求自身利益的最大化,会采取有损于项目整体效益的自利行为。通过案例分析,证明了经营方出于自利心理会在设备折旧年限的选择上做出有利于自己但有损于项目整体效益的短期决策行为。为激励经营方从项目长远利益出发合理地做出设备的更新决策,从项目的全寿命周期视角出发,创新性地在项目契约中设计持续经营选择权条款,并结合案例验证了持续经营选择权的设计对修正经营者的短期决策行为的有效性。
Due to the incompleteness of contract for the BOT project,the concessionaire would take various self-interest behaviors harmful to the project’s overall benefit to maximize his own interests.From the whole life cycle perspective,this paper creatively designs a going concern option in the BOT project contract.Through the analysis based on a wastewater treatment BOT project,it is shows that concessionaire would make short-sighted self-interest decisions on its selection of the depreciable life.This behavior does harm to the benefits of the whole project.This option could efficiently motivate the concessionaire to make equipment renewal decisions from the project’s long-term benefits.The greatest contribution of this paper is to prove the effectiveness of the design of going concern option in correcting concessionaire’s short-sighted decision making behavior.
出处
《系统工程》
CSSCI
北大核心
2017年第8期145-152,共8页
Systems Engineering
基金
国家自然科学基金青年科学基金资助项目(71501188)
山东省自然科学基金资助项目(ZR2015GM009)
2017年度山东省高等学校人文社会科学研究项目(J17RB093)
中央高校基本科研业务费专项资金资助项目(18CX04002B)
关键词
全寿命周期
不完全契约
自利行为
持续经营选择权
Whole Life Cycle
Incomplete Contract
Self-interest Behavior
Continuous Operation Option
