3 水利工程ppp项目剩余控制权优化配置模型 - 《科技管理研究》！.docVIP

水利基础设施PPP项目剩余控制权优化配置模型 （1.河海大学商学院；2.河海大学项目管理研究所，江苏南京 211100；3.江苏省“世界水谷”与水生态文明协同创新中心，江苏南京 211100；4.河海大学国际河流研究中心，江苏南京 211100） 摘要：PPP模式下，公私双方控制权的合理配置与合作效率密切相关。针对PPP合作过程中公共部门和私人部门的能力差异性目标差异性以及水利基础设施不确定性大的特点，结合不完全契约理论建立激励约束视角下PPP项目剩余控制权的优化配置模型基于该模型，分析私人部门的投资额度、股权比例、技术水平、管理能力，公共部门的协调、监管、社会收益期望值等因素与剩余控制权配置比例的关系，进而提出一系列基于剩余控制权优化配置的激励约束方案。为PPP模式下公私双方的剩余控制权优化配置提供理论和应用依据，完善和补充PPP模式契约机制设计理论。 关键词：PPP；剩余控制权；公共部门；私人部门；水利基础设施 中图分类号：F294 文献标志码：Ａ 文章编号 Optimal Allocation Model of Residual Control Rights in Public-private Partnerships for Water Infrastructure ZHANG Yunhua1,2, FENG Jingchun1,3,4 Business School, Hohai University, Nanjing Jiangsu,211100,China；2. Institute of Project Management of Hohai University, Nanjing Jiangsu,211100 China;3. Jiangsu Provincial Collaborative Innovation Center of World Water Valley and Water ecological civilization, Nanjing Jiangsu,211100,China;4.International River Research Centre of Hohai University, Nanjing Jiangsu,211100,China) Abstract: The rational allocation of control rights between public and private sectors is closely related to efficiency of PPP. According to the productivity differences, the goal difference of the public and private sectors and the uncertainty of water project under the PPP, combining with the incomplete contract theory, this paper established optimal allocation model of residual control rights from the perspective of incentive and constraint. By solving and analyzing this model, the relationship between the investment, equity ratio, technical level, manage ability, monitoring costs, social benefits and allocation of residual control rights was derived, and then a series of incentive schemes based on these results were proposed. This research not only provides theory and application basis on optimization allocation of residual control rights in PPP , but also improves and complements the contract mechanism design theory of PPP . Key words: PPP; residual rights of control; public sector; private