頁籤選單縮合
題 名 | 基礎建設特許合約的設計=Contract Design of Infrastructure Concessions |
---|---|
作 者 | 林俞利; | 書刊名 | 商管科技季刊 |
卷 期 | 4:2 2003.06[民92.06] |
頁 次 | 頁163-183 |
分類號 | 441.532 |
關鍵詞 | 特許合約; 道德風險; 不履行承諾; 合約不完備性; 持續性; 風險管理; Concession contract; Moral hazard; Incredible commitment; Contractual incompleteness; Sustainability; Risk management; |
語 文 | 中文(Chinese) |
中文摘要 | 特許合約建立了政府和特許公司之間金錢與服務上交易的正式關係。理論上,它應該界定雙方對於未來交易的權利與義務,而各方亦僅需遵守合約即可。然而,這種特許合約機制有三個問題:道德風險(moral hazard)、不履行承諾(incredible commitment)以及合約的不完備性(contractual incompleteness)。道德風險代表了特許公司利己且無法察覺的行為,不履行承諾指的是雙方違反承諾的行為,合約的不完備性是指簽約的環境發生無法預期的改變。這些問題會妨礙到基礎建設特許合約的效率及持續性(sustainability)。真實世界裡的特許合約並不會針對所有有可能發生的情況而建立交易規則,但是,特許合約的規劃能讓它在不同環境之下以不同的辦法來解決這三個合約上的問題。這份論文是用合約經濟學來分析合約問題的起因與後果,同時也用來評估不同的合約設計對於解決問題的有效性。這裡使用的合約分析與風險管理方法(risk management)不但互補,也為特許合約的制定提供了一個詳細的評估方法。 |
英文摘要 | The concession contract establishes a formal relationship of exchange of service and money between the host government and concessionaire. Ideally, it will specify the obligations and rights of each party under every contingency concerning the future trade, and each party simply follows the specified instructions. This contracting mechanism, however, it flawed due to three problems: moral hazard, incredible commitment, and contractual incompleteness. Moral hazard recognizes the firm's unobservable and self-interest behavior; incredible commitment recognizes contracting parties' reneging behavior; contractual incompleteness recognizes that the contractual environment is changing in an unanticipated manner. These problems impede the efficiency and sustainability of infrastructure concessions. The real-world concession contracts, instead of writing detailed trading rules for each possible contingency , are designed to address these three contracting problems in different ways as they appear in differing degrees in each contract environment. This paper applies contract economics to analyze the origins and consequences of these contracting problems, and to evaluate the effectiveness of different contract schemes in solving these problems. The contract analysis method employed is complementary to the risk management method and provides a comprehensive perspective for concession contract design. |
本系統中英文摘要資訊取自各篇刊載內容。