Research On Benefit Allocation And Incentive Mechanism Design Of PPP Project

Public infrastructure plays an important role in promoting regional economic development and promoting social progress.In order to alleviate the financial pressure of the public sector in the public sector,China has introduced the government and social capital cooperation model.With the implementation of the "The Belt and Road" strategy and accelerating the process of urbanization,Infrastructure and public services construction and local government debt surge,ppp has been accerlating in promotion.However,PPP project itself has both public welfare and profitability,private capital has the characteristics of maximizing its own interests,most of the main reasons for the failure of the project is difficult to allocate the project proceeds,private capital is not effective incentives.Therefore,the research on the reasonable allocation and incentive of PPP project income has become the hotspot of PPP research.Based on literature review and theoretical research,the literature combed from the PPP model,the project distribution and incentive models.This paper summarizes the relevant concepts and theories of PPP,and puts forward the problems faced by private capital into PPP project,namely,the project income and incentive issues.Shapely value theory and incentive problem based on principal agent theory are introduced.After defining and discussing the PPP project participants and related interests,the paper analyzes the basis of public-private cooperation.Then the article on the Shapely value of the profit distribution model was introduced,and it should be considered that the project investment,project risk sharing coefficient,project contribution,contract execution,effort and project supervision six factors after the establishment of a modified Shapely value profit model.The paper then uses the principal-agent theory,it should be ensured that the private parties involved in the project income and guarantee the public welfare projects,setting of incentive mechanism in private parties,so as to ensure in the PPP project,the private party can increased investment,which resultis in the premise of ensuring the maximization of their own interests,to maximize the project the social benefits.Finally,the paper makes a case analysis of the model,and the results show that the modified Shapely value model can show fairness and efficiency,and the private party can get the maximum incentive.Under the circustances that PPP project can be better operated,so that the PPP project can achieve maximum economic and social benefits.