| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2013: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2012: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2011: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
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| Research Abstract |
Under the circumstance of severe budget constraint of national and local governments in Japan, the further efficiency of construction projects has been required. Risk sharing arrangement of contracting is important to give appropriate incentive toward risk management in construction projects to contractors. Construction contract does not permit the breach or termination of contract. In addition, under the joint venture (JV) contracting, more than one contractors undertake a project under the joint and several liability. This study theoretically proves that the efficient risk sharing of JV contracting is characterized by its payoff structure of JV members as financial option.
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