A Study on the Incentive Mechanisms for Local Governments and Tourism Leading Enterprises Based on Principal Agent Relationship and Blockchain Governance

Abstract

The investment and development of tourism resources projects in rural tourism destinations is a specific form of rural industrial integration and development for local governments to carry out rural revitalization. The introduction of social capital to the countryside is an important source of rural tourism capital investment. Due to information asymmetry and inconsistent interest goals, there is a contradiction between efforts and supervision between local governments and leading enterprises with principal-agent relationship. Starting from Chongqing rural tourism destinations, this paper analyzes the Nash equilibrium under different comparisons of operating income and additional costs brought by enterprise efforts by constructing a static game model. Combined with the principal-agent theory, an incentive mechanism considering the uncertainty of efforts and the inability to effectively supervise is constructed. The research shows that under the condition of satisfying the incentive compatibility constraints and participation constraints, it can encourage enterprises to work hard at a high level, and can also effectively encourage enterprises to consciously choose the optimal level of effort expected by the government, so as to achieve the coordination of the interests of enterprises and the government. This paper introduces the research perspective of principal-agent game to explore the relationship between the level of enterprise efforts and government supervision and incentive, and also proposes to introduce an incentive mechanism of intelligent governance based on blockchain to alleviate the principal-agent relationship between government and enterprises. The research findings have important theoretical and practical significance for revealing how to achieve the incentive constraints of the coordination of the interests of tourism leading enterprises and the government.