Research On The Influence Of Contract Compensation On Contract Performance Behavior In Construction Project

The research of project governance is birthed from the agent problem between government principal and the agent,so the core content of project governance is to incentive the contractor who has the actual control power in the engineering,and there has formed several incentive paths which around risk sharing or truth,it is trying to increase the level of project governance to promote the governance performance.Hower,under this contract which has risk sharing reserved space for adjustment,when the contractor using the vulnerability to require adjusting,opportunistic behavior will occur,the adjustment problem will be another source for agent problem.So the key to breaking the existing research paradigm is introducing the theory of reference point,loosening the assuming for “Rational man”,strive to resolve the reference point effect in order to induce good performance behavior,then to achieve perfect performance.Therefore this paper constructs the research path of "project contract-reference point-Performance",after the determination of the reference point of existence,to explore what circumstances will induce the contractor completed good performance.Therefore this paper mainly includes the following contents:First,through a review of research on the effects of the reference point,that compensation contract process,the reason of the existence of the reference point effect is differences in the compensation results and the contractor of the expected results,and compensation contract is the result of by the contract of risk events agreed the influence,so after analysis of 4 cases of contract clear engineering practice in which risks may exist reference point effect,and puts forward assumption of risk events agreed the terms of the contract is form the reference point effect,and in accordance with the contract compensation results the influence of the initial contract,reference point is divided into two of the "bottom line" and "expected".Second,in the premise of reference point exists,by setting several typical scenarios to control the contract compensation different results,verifying subjects feelings of fair perception,change and performance in the validation scenarios and then verify the contract compensation on the performance point of reference effect.It was found that when the contract compensation is less than the bottom line,the Contractor exist unfair perception,tend to adopt the opportunism behavior and literal performance,when the contract compensation is higher than the bottom line and lower than expected,the contractor has the perception of fairness,but only produce the literal performance,when the contract compensation is higher than expected,the contractor has fair perception relatively high,and tend to make good compliance behavior.Research in the field of project management introduces innovative contract reference point theory,open the reference point of contract theory in the field of engineering project management of the behavior of the road,the project participants behavior will be included in the research paradigm of project governance,provides a paths fair perception-behavior induced to improve the governance performance of research,to make it more effectively guide the project governance practices,improving project management performance.The results consider the Chinese context contractors fairness preference,through behavioral induced experiment determined reference point compensation for contract performance,that helps project owners to promote the development of the performance of the contract the Contractor perfect condition;by the mechanism of contractor performance perfect compliance behavior,making the mutual compatibility of governance mechanism in project management practice and support can be put into action.