| Title | Smart city concept and alternative procurement models as instruments for reduction taxpayers and authority agency costs in public investment projects |
|---|---|
| ID_Doc | 42607 |
| Authors | Juricic, D |
| Title | Smart city concept and alternative procurement models as instruments for reduction taxpayers and authority agency costs in public investment projects |
| Year | 2019 |
| Published | |
| Abstract | Stakeholders in corporations like owners, managers, suppliers or lenders are well informed about agency costs caused by informational asymmetry. This topic is, on a corporate level, comprehensively researched and well known for a long time. However, agency costs, caused by informational asymmetry on a public organisations level like cities, counties or public corporations, caused informational asymmetry which have stakeholders like taxpayers, public management (mayors, public managers), members of the city councils, are insufficiently explored, specially instruments for reduction of agency costs. The new paradigm of collecting, managing and using information, as well as alternative public investment procurement models within the concept of "smart cities", could be a significant factor in reducing information asymmetry among entities in public organizations, thus increasing the efficiency and effectiveness of public organizations and value for taxpayers money. In this paper the attention will be focused to defining of taxpayers agency costs caused by informational asymmetry in relation taxpayers - authority as well as authority - corporations in traditional and alternative procurement of public investment projects. Also, there are a brief review of possible instruments for reducing principal' cost in monitoring the agent. |
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