NDLI: An Improved Award-Penalty Mechanism Based on the Principal-Agent Theory in Build-Operate-Transfer Projects

Content Provider	IEEE Xplore Digital Library
Author	Qu Dan Zhang Shao-hua
Copyright Year	2009
Abstract	BOT is the primary financing model which used in China to solve the capital needs for infrastructure construction, however, the current award-penalty mechanism couldn't satisfy the development of BOT model; several problems about the quality and management rise during the authorized period. In view of this kind of situation, the paper introduces a new parameter Î¶ based on the principal-agent theory to create a new drive contract s(x) in BOT projects, thereby improving the current award-penalty mechanism, the parameter Î¶ depends on how hard the enterprises work, the quality parameter of the infrastructures that detected by the authorities, the managing situation and some exogenous variables that are unpredictable and uncontrollable. The improved mechanism can supply the guidance and foundations to realize the effective and rational supervise on the agents during the infrastructure construction and operation.
Starting Page	4184
Ending Page	4187
File Size	260031
Page Count	4
File Format	PDF
ISBN	9781424449095
e-ISBN	9781424457281
DOI	10.1109/ICISE.2009.268
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-12-26
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Costs Engineering management Roads Government Investments Project management Conference management Financial management Educational institutions Environmental economics
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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