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

被引：34

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

共 14 条

[1] The hold-up problem in the management of construction projects: A case study of the Channel Tunnel
Chang, Chen-Yu
Ive, Graham
International Journal of Project Management, 2007, 25 (04) : 394 - 404
[2] The Research on the Hold-Up Problem of BOT Project
Li, Wen-xin
Peng, Wen-min
2013 INTERNATIONAL CONFERENCE ON INDUSTRIAL ENGINEERING AND MANAGEMENT SCIENCE (ICIEMS 2013), 2013, : 423 - 429
[3] The channel tunnel rail link: A major piling project
Stumpf, T.
Concrete (London), 2001, 35 (03):
[4] Channel Tunnel Rail Link: quality management
Keeling, D
PROCEEDINGS OF THE INSTITUTION OF CIVIL ENGINEERS-CIVIL ENGINEERING, 2003, 156 : 45 - 48
[5] Channel Tunnel Rail Link: Quality management
Keeling, Dan
Proceedings of the Institution of Civil Engineers: Civil Engineering, 2003, 156 (SPECIAL ISSUE) : 45 - 48
[6] Channel Tunnel Rail Link: the case for safety
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PROCEEDINGS OF THE INSTITUTION OF CIVIL ENGINEERS-CIVIL ENGINEERING, 2003, 156 (04) : 159 - 159
[7] Channel Tunnel Rail Link: the case for safety
French, S
PROCEEDINGS OF THE INSTITUTION OF CIVIL ENGINEERS-CIVIL ENGINEERING, 2003, 156 : 49 - 53
[8] Channel Tunnel Rail Link section 2: project controls
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PROCEEDINGS OF THE INSTITUTION OF CIVIL ENGINEERS-CIVIL ENGINEERING, 2007, 160 (06) : 59 - 61
[9] Channel Tunnel Rail Link: Cobham Ashenbank management scheme and Rail Link countryside initiative
Standen, D
PROCEEDINGS OF THE INSTITUTION OF CIVIL ENGINEERS-CIVIL ENGINEERING, 2003, 156 : 59 - 64
[10] Perspectives on "success" from the UK Channel Tunnel Rail Link Project
Ward, E. John
Wright, Phil G.
Dimitriou, Harry T.
PLANNING THEORY & PRACTICE, 2014, 15 (03) : 423 - 428

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