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Student Number 84322085
Author Wei-cheng Gao(m)
Author's Email Address No Public.
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Department Civil Engineering
Year 1996
Semester 2
Degree Master
Type of Document Master's Thesis
Language zh-TW.Big5 Chinese
Title The analysis on Joint Venture Sharing Rate for Construction Firm
Date of Defense
Page Count 100
Keyword
  • Joint Venturing
  • Rish Sharing
  • Sharing Rate
  • Utility Function
  • Abstract Joint venturing (JV) is a useful concept to be employed by
    constructors for reducing construction risks and acquiring
    technology and know-how external to their organization. This
    concept is particularly critical, as the construction project in
    consideration is both large-scale and technically complicated.
    Constructors of different business scales and with diverse areas
    of technical capability can form a project-based team for
    meeting the client's needs, while each participating firm can
    produce reasonable profit for himself and others and perhaps
    establish a new specialty.In this study, it is argued that the
    key bottleneck for JV among constructors is the lack of a
    systematic means for sharing construction risks which may or may
    not be rationally evaluated among partners. A crucial index for
    examining the risk-sharing behavior is the share of capital
    earmarked by each partner for the project. Clearly, the higher
    the share, the more sensitive to the gain or loss of the
    partnering. If the share of each partner can be rationally
    justified against his tolerance to loss and the distribution of
    the projected return, it may be possible for the entire team to
    act more towards the common goal, without the cost of moral
    hazard among partners.This study incorporates the idea of
    utility to represent a constructor's risk attitude and
    preference towards riskdecisions. By characterizing the JV
    models, various partnering strategies are simulated. The major
    finding of this study is that JV can be a profitable strategy,
    regardless the constructor's ability to contract the entire
    project. Also, for the JV team to form with ease, a rule of
    thumb is that the partners need to have highly diverse risk
    attitudes and a consensus on the distribution of projected
    return.
    Table of Content
    Reference
    Advisor
  • Hsieh Ting-ya(©w)
  • Files No Any Full Text File.
    Date of Submission

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