- Breach of Contract and Deposit in BOT Projects
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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.
