基于关键项目治理因子的代建人激励实证研究:以项目控制权为调节变量

Agent incentive empirical research based on key governance factors:Taking project ownership as the manipulated variable

在我国公共项目企业型代建制中,委托人与代建人之间形成了代理型治理问题,对代建人的有效激励成为一个难题。在文献研究与理论分析的基础上,构建项目控制权作为调节变量的公共项目治理与代建人激励的关系模型,然后运用因子分析和SEM开发出公共项目治理和代建人激励效应的测量量表,通过对133个代建项目的问卷调查数据进行回归分析,验证公共项目四个治理机制能有效改善代建项目中代建人有效激励不足的状况,以及项目控制权能够正向调节四个治理机制对代建人的激励效应。研究结果表明:公共项目治理机制中的风险分担机制对代建人受激励的行为影响最为显著,代建人风险报酬机制对代建人受激励的态度影响最为显著。项目控制权是公共项目治理结构的外在表征,在不同控制权配置下公共项目治理机制对代建人激励的作用效果不同。由此得出,项目治理结构与治理机制不同的匹配方式对代建人产生不同的激励效果,只有两者有效适配才能产生最佳的激励效应。研究结果可以为国内政府投资项目代建制以及委托建设项目的采购方式的完善提供理论依据。

In the entrepreneurial agent system of public projects in China,agent-based governance issue has been formed between the principal and the agent,which becomes a difficult problem for the effective motivation of agent. Based on literature study and theoretical analysis,agent incentive relational model is constructed,in which the ownership is taken as a manipulated variable. The measurement scales of public project governance and agent incentive effect are developed based on the factor analysis and SEM. Through regression analysis of questionnaire data about 133 public projects,it has been verified that the four governance mechanisms of public project can improve the situation of insufficient effective agent incentive and the regulatory role of ownership. Results show that Risk-sharing affects the action of agent most significantly,while risk-reward affects the attitude of agent most significantly. Project ownership is the external representation of public project governance structure. The governance mechanism of public project with different configurations of ownership has different effects on agent incentive. It can be concluded that different matching modes of project governance structure and governance mechanism will produce different inventive effects on the agent. Only if the two match effectively,can they produce the best incentive effects. Research results can also provide a theoretical reference for improvement of domestic government invested project agent system and procurement of entrusted construction projects.