Study On The Allocation Of Residual Control Rights Under The PPP Model

PPP(Public-Private-partnerships)is an important patterns that public sector and private sector cooperate to provide the important public product or service.This pattern can play in the private sector initiative and creativity,make full use of its financial and technical advantages,for the government,can reduce the debt burden,reduce financial risk.Therefore,the PPP model in the field of public products and services is widely used,especially the construction of infrastructure.In the long run,the economic development of our country is still in the fast lane,infrastructure and other public goods demand remains strong,and because of the change of government function and the rapid development of private capital,the PPP model will go a long way in terms of public-private partnership to supply public products.However,by reading a large number of documents found,the current studies about the PPP pattern mostly stay in concept to explain the PPP mode level,involving the territory just explain the PPP mode's related concept,the necessity and practicability of the partner relationship in terms of analysis and the model of risk sharing and management mechanism in quantitative analysis,the study of the PPP model has some limitations,of the contract nature of the PPP mode did not conduct a more in-depth research and analysis.In this paper,on the basis of the existing reviewing and summarizing the related studies of PPP model's reviewing and summarizing,based on the incomplete contract theory,distribution of relevant theory and control theory and model,think the PPP project is actually a contractual relationship of public and private sectors,and both public and private residual control allocation problem is affect project public products and services supply crucial factors.Based on this view,the basic hypothesis of this paper,by using GHM model and BG model,demonstrates that the PPP mode of residual control allocation problem of both public and private sector and its impact on the optimal investment level.Through the study of this article points out that the problem of residual control allocation is influenced by various factors,three of the most important are influenced by the distribution of interests in the initial contract,efficiency of cooperative parties in the contract and the response capacity of the project uncertainty.