Research On The Incentive Mechanism Of The Agency In Government Projects

This dissertation has systematically studied the incentive mechanism of agent in public projects which consists of interior incentive and exterior incentive. The main contents are summarized as follows:Firstly, it reviewed project governance theory, incentive theory and risk allocation mechanism. Project governance theory is the foundation of the dissertation. Incentive theory worked as analytical tool when exploring the relationship between principal and agent and establishing corresponding models. The actualities of the application of incentive mechanism in agent construction system and risk allocation mechanism were discussed at the same time.Secondly, interior incentive were analyzed and designed. (1) Established risk allocation scheme based on the contract nature of agent-public projects and risk-identification. (2) The contents of agent cost, including management cost and incentive cost. Then agent cost program was designed based on agent's risk-preference and distribution of project's residual claimancy. (3) Incentive articles in contract were amended.Thirdly, exterior incentive were analyzed and designed. (1) The theories about reputation mechanism and market-selection mechanism were discussed. (2) The application of exterior incentive, that is to say how to select agent from the view of market entry system and selection method.Fourthly, interior incentive and exterior incentive were integrated. The relationship between interior incentive and exterior incentive was discussed, and then the framework of incentive was established. This part also summarized all kinds of measures of incentive.Lastly, moat project in city D was studied as an actual case. The study analyzed the management provision, the selection of agent, principle-agent contract. Improvement suggestions were putted forward according to it.