Understanding the hold-up problem in the management of megaprojects: The case of the Channel Tunnel Rail Link project

被引：35

作者：

Chang, Chen-Yu ^{[1
]}

机构：

[1] UCL, Bartlett Sch Construct & Project Management, London WC1E 7HP, England

来源：

INTERNATIONAL JOURNAL OF PROJECT MANAGEMENT | 2013年 / 31卷 / 04期

关键词：

Transaction cost economics; Hold-up; Quasi-rent; Private finance initiative; Renegotiation; VERTICAL INTEGRATION; RENEGOTIATION DESIGN; CORPORATE-FINANCE; CONTRACTS; RISK;

D O I：

10.1016/j.ijproman.2012.10.012

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

This research examines the outcome of renegotiations that happened between the UK government and private investors in the Channel Tunnel Rail Link project and develops a model to formalise the evolution of bargaining power of these two parties in the contracting period. This model makes two novel contributions in the development of theoretical understanding to hold-up problems for project management: (1) the effect of financial arrangement on bargaining power balance is quantitatively examined; and (2) the relationship between bargaining power and quasi-rent is established through the application of the Nash bargaining model. (C) 2012 Elsevier Ltd. APM and IPMA. All rights reserved.

引用

页码：628 / 637

页数：10

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