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论文类型：会议论文

发表时间：2008-10-12

收录刊物：EI、CPCI-S、Scopus

页面范围：7745-7749

关键字：moral hazard; limited liability; payoff externality; deposit; contract efficiency

摘要：This paper examines the possibility of contractual breach in BOT projects. The main advantage of BOT Scheme is that payoff externality can be internalized through bundling construction and management operations. However, the efficiency of BOT contract is flawed if private company with limited liability intentionally cancels the concession contract. The paper also investigates the deposit policy to deter the strategic breach of contract.