CAJ | 학술논문

BT模式逐步成为政府解决非经营性基础设施建设资金紧缺的一种新的尝试，但在项目建设过程中，政府和投资人之间不可避免地会出现“逆向选择”与“道德风险”问题。在BT项目中引入激励机制，通过建立政府给予投资人的最优激励报酬模型，分析影响最优激励系数变化的各种因素，并以此为基础提出激励报酬模型在以BT模式建设工程项目过程中应用的建议，有助于解决政府和投资人之间的委托代理问题并实现政府与投资人之间利益最大化的均衡。
BT모식축보성위정부해결비경영성기출설시건설자금긴결적일충신적상시，단재항목건설과정중，정부화투자인지간불가피면지회출현“역향선택”여“도덕풍험”문제。재BT항목중인입격려궤제，통과건립정부급여투자인적최우격려보수모형，분석영향최우격려계수변화적각충인소，병이차위기출제출격려보수모형재이BT모식건설공정항목과정중응용적건의，유조우해결정부화투자인지간적위탁대리문제병실현정부여투자인지간이익최대화적균형。
A new attempt that the government solves the funding shortage of non-business infrastructure construction by BT model has been gradually popular. In the process of construction , the "adverse selection" and "moral hazard" problem between government and investors will appear inevitable. The incentive mechanism given to investors will be introduced in BT project through the establishment of the government's optimal incentive compensation model to analyze the various factors affecting the optimal incentive coefficient change,and proposed some suggestions in the course of construction in BT project according to the incentive compensation model. This is helpful to solve the principal-agent problem between the government and investors and make the balance of interests between the government and the investors.