{"title":"基于委托代理理论的石油许可证最优激励机制研究","authors":"Xinhua Qiu, Zhen Wang","doi":"10.1504/ijrm.2015.073821","DOIUrl":null,"url":null,"abstract":"Government take of oil producing country can be enhanced by optimising the incentive mechanism of petroleum fiscal system. This paper establishes a principal-agent model to improve the production sharing contract (PSC), which is the most popular fiscal regime in hydrocarbon exploitation. It also conducts a numerical analysis to achieve the optimum fiscal design and applies the new model into a deep-water petroleum contract of China. The application results show that the expected income of host government increases by 18% compared with the old fiscal system.","PeriodicalId":39519,"journal":{"name":"International Journal of Revenue Management","volume":"12 4 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2015-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1504/ijrm.2015.073821","citationCount":"0","resultStr":"{\"title\":\"Study of optimum incentive mechanism based on principal-agent theory for petroleum licence\",\"authors\":\"Xinhua Qiu, Zhen Wang\",\"doi\":\"10.1504/ijrm.2015.073821\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Government take of oil producing country can be enhanced by optimising the incentive mechanism of petroleum fiscal system. This paper establishes a principal-agent model to improve the production sharing contract (PSC), which is the most popular fiscal regime in hydrocarbon exploitation. It also conducts a numerical analysis to achieve the optimum fiscal design and applies the new model into a deep-water petroleum contract of China. The application results show that the expected income of host government increases by 18% compared with the old fiscal system.\",\"PeriodicalId\":39519,\"journal\":{\"name\":\"International Journal of Revenue Management\",\"volume\":\"12 4 1\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2015-12-24\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://sci-hub-pdf.com/10.1504/ijrm.2015.073821\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Revenue Management\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1504/ijrm.2015.073821\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q4\",\"JCRName\":\"Economics, Econometrics and Finance\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Revenue Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1504/ijrm.2015.073821","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
Study of optimum incentive mechanism based on principal-agent theory for petroleum licence
Government take of oil producing country can be enhanced by optimising the incentive mechanism of petroleum fiscal system. This paper establishes a principal-agent model to improve the production sharing contract (PSC), which is the most popular fiscal regime in hydrocarbon exploitation. It also conducts a numerical analysis to achieve the optimum fiscal design and applies the new model into a deep-water petroleum contract of China. The application results show that the expected income of host government increases by 18% compared with the old fiscal system.
期刊介绍:
The IJRM is an interdisciplinary and refereed journal that provides authoritative sources of reference and an international forum in the field of revenue management. IJRM publishes well-written and academically rigorous manuscripts. Both theoretic development and applied research are welcome.