Cost Control Strategy of Shipping Enterprises under Asymmetric Information
The problem how the shipping proprietors stimulate their employees to reduce costs under asymmetric information is discussed on the basis of principal-agent theory. The shipping proprietors determine a contractual base according to their demand and how much the employees confirmed, and compare it with the actual cost so as to offer reward or penalty to the employees. Based on such contractual procedure, some objective functions in terms of employee and shipping proprietor are given to determine optimal cost as offered and confirmed by employees themselves. In addition, a model to maximize the shipping proprietors expected effect is given under asymmetric information. Taking coefficients of reward and penalty as decision variables, a simulation is conducted by way of the evolutionary programming algorithm, of which the results show that the shipping proprietor can control cost and maximize his profit through choosing properly the coefficients of reward and penalty.
cost control asymmetric information principalagent theory
Liu Shuyong Chen yan Jia Hongyu Chen fei
Transportation and Management Colledge DaLian Maritime University Dalian,China
国际会议
长沙
英文
785-788
2009-04-11（万方平台首次上网日期，不代表论文的发表时间）