Research On Interest Distribution And Coordination To Stakeholders Of Land First-level Exploitation

There are mainly two aspects in the content of China’s land market, namelyprimary land development and secondary land development. As we know, primary landdevelopment is the preparation before land enters the market which has a direct impacton the price of land or even the secondary real estate market, so solving the distributionof interests has important significance on the smooth proceeding of primary land marketand orderly development of real estate market through a study of primary landdevelopment.Based on the complexity of primary land development, this paper sorts out itsdefinition and basic mode at first, followed by clear explanation on the essence andstructure of primary land development in order to discuss its distribution of interests andfind out some problems as below:1. huge differences in various regions;2. low interestmargins of primary development in some places;3.frequent changes on regionalpolicies;4.little attention to the interests of original land user. All of these restrict thedevelopment of primary land market in a serious way.In response to the problems, the paper selects the interests as a starting point anduses related mature theory of stakeholder from corporate governance for the definitionand classification, even focus on the requirement, conflict and necessity of corestakeholder (including government, original land user and primary land developmententerpriser) to pave the subsequent distribution of benefits.On the basis of analysis above, the paper establishes the dynamic game model ofprimary land development to analyze the business relationship among the government,original land user and primary development enterprise. In the premise of the principle ofallocation of interests, the paper establishes the distribution of interests model forprimary land development according to the principle of Shapely value distribution ofbenefits and amends the Shapely value combined with the principle of realistic pointaccording to the quantity of input and burden risk so that comes up with the fair andeffective scheme of distribution of interests. Then combined with primary landdevelopment projects in Sichuan Province to simulate distribution of interests with themodel, we can conclude that model has validity and operability.Successful implementation of scheme of distribution of interests needs effectivemechanism for coordination of interests and common participation of other stakeholders as guarantees. Therefore, the paper establishes the distribution scheme of corestakeholder in the primary development projects, and makes further coordinationmechanisms land development interests as a supplemental guarantee from a systemperspective.