| The probability of the private's opportunistic behavior can be reduced by rational contracts,which are very important to project success.There are 4 kinds of PPP contract formation methods in China:(1)the public issues a brief administrative document,which lists core terms only;(2)the contract is formed after a long and difficult negotiation;(3)the contract is formed through "Fill in the blank",based on the PPP model contract published by the departments of trade;(4)the contract is designed by the public according to its unilateral intention before PPP project procurement,and response extent is seen as one of the evaluation criteria.However,there are many problems in their implementation caused by ineffective contract control terms,which initial trust in the private is rarely taken into account.Therefore,this paper studies the impact of initial trust to contract term control in PPP projects.In addition,economic activities are always embedded in a certain institutional environment,and the market environment of PPP projects in China is in a period of drastic change.Thus,the strength of contract term control may be different according to the public's initial trust to the private.Therefore,this study uses market maturity as a moderator to study the effect of initial trust on control,and provides management implications for the public to develop reasonable contract terms.The specific research contents include the following 3 aspects.(1)The conceptual model of the control is presented based on grounded theory.The dimensions of control of the public to the private are explored,the research materials which are obtained through interviews and document analysis are coded by NVivo 10.The results show that 3 sub-core categories are output control,behavior control and deviation control.Furthermore,the construct and conceptual model are obtained by analyzing the difference between the control in PPP projects and common engineering projects.(2)PPP market maturity in China is measured.Firstly,evaluation indicators of market maturity are established.Secondly,measurement concerns,methods and results of market maturity are analyzed.The 4 measurement concerns are: the country where the project is located,the time that project is contracted,the industry to which the project belongs and the location of project.Finally,based on the current situation of PPP projects,the operational maturity and local applicability are the evaluation indexes of the market maturity of PPP projects in this study.(3)The moderation effect of market maturity on the relationship between initial trust and control in PPP project is verified through multi-case study method.Firstly,the case selection criteria is identified and five case projects are selected.Secondly,initial trust is determined according to the relevant website about the private.control is analyzed by contract publicized,and market maturity,initial trust,and contract term control of the five cases are compared,on this basis,the impact of initial trust on contract term control is verified.Finally,management implications to contract formulation and implementation of PPP project is proposed. |
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