A Study On State-owned Enterprise Executives Across The System’s Ties Effect Of Private Benefits

Big changes along with the social economic and legal environment, big party and the country began a round of strong anti-corruption climax from the eighteenth. It has exposed the corruption of state-owned enterprise executives which has gotten more and more attention from all walks of life. For more than ten years, our country state-owned enterprise executives showed a trend of rising corruption and executives of corruption led to the deterioration of the enterprise internal corruption and country social wealth serious loss. Theory of official corruption has carried out extensive and in-depth research, from the legal system of compensation control, and corporate governance mechanism explanations for the reason of official corruption, but more researches set enterprises as the research subject, not from the perspective of executive system ties making more authoritative explanation.To hold the position of senior executives in many private enterprises of the state-owned enterprises, this paper takes 2009-2012 China’s listed companies across the system’s ties data as the research sample, using large sample data regression analysis of state-owned enterprise executives across the system’s ties which influence on senior private benefits, as well as the nature of state-owned enterprises have effect on private benefits of having across the system’s ties executives.After dividing executives private benefits into monetary private benefits and non-monetary private benefits, in this paper, the study found that compared with executives who have no across the system’s ties, state-owned enterprise executives who have across the system’s ties have a significant impact on private benefits especially senior executives non-monetary private income. In further investigating the role of state-owned enterprise executives in different system’s ties, this paper found that compared with executives across internal directors, state-owned enterprise executives across the tie of outside directors have a more positive influence on executive monetary private benefits and executive non-monetary private benefits, and in the central state-owned enterprises, compared with the situation in the local state-owned enterprises, executive system’s ties have a more positive influence on executive monetary private benefits, amore negative impact on executive non-monetary private benefits.The study not only validates and enriches the research of private benefits of corporate executives in theory, but also provides valuable reference and guidance for relevant policy in practice. Through analysis the path which affects the system’s ties relationship of executives of private benefits, which can provide decision-making reference for executives hiring in our country listed company. Seeking private benefits by constraining factors leading to reduce the possibility of bad behavior that executives seek private benefits, so as to improve the efficiency of corporate governance, to prevent the value of the company from damage, to make the company get a good development and the shareholders of a company get a lot. At the same time, the conclusion of this study also put forward some proposals for the government related functional departments which regulate listed companies, strengthen the supervision of the department for the regulation of listed company executives, effectively protect the interests of our country small and medium-sized investors, and ensure sustained and healthy development of the securities and capital market in our country.