公司治理
高管薪酬
消费(社会学)
共谋
业务
经济
执行董事
会计
财务
产业组织
管理
社会学
社会科学
作者
Yuwei Liu,Shiguang Ma,Xuesong Tang
标识
DOI:10.1080/1540496x.2022.2072202
摘要
Prior research documents that the network of independent directors brings abundant resources and information advantages. Does it raise the possibility of executives engaging in rent-seeking? This paper investigates the specific impact of the independent director network on executive perquisite consumption in China. The results show that the more substantial the network of independent directors is, the greater the degree of executive perquisite consumption. Different ownership types result in different mechanisms; director network centrality primarily increases the entertainment component of executive perquisite consumption in SOEs, implying “cooperation in governance” and exhibiting inverted U-shaped nonlinear features; director network centrality increases the supplementary component of monetary compensation for executive perquisite consumption in nSOEs, illustrating “coordination in governance.” Moreover, the “Eight Rules” and intense external supervision effectively restrain “collusion” of SOEs.
科研通智能强力驱动
Strongly Powered by AbleSci AI