Media Supervision,Management Power And Perks

As a kind of recessive incentive of management,the perk consumption is responsible for the management of the enterprise.However,excessive consumption will increase the agency costs,resulting in the value of the company.At present,China is in the emerging transition stage,because the capital market is not perfect and lack of institutional arrangements,especially in Chinese state-owned enterprises “absence of the owner” and “internal control”,“lack of internal oversight mechanisms ”and other issues,plus the perk consumption itself is hidden,and no contract no mandatory disclosure,resulting in on-the-job consumption is much higher than the reasonable category,alienation of management self-interest expropriation behavior.This not only led to the loss of corporate assets,but also easy to breed corruption and other issues,the enterprise and society is a negative energy.Based on these,following the State Council promulgated,such as “Interim Measures for the supervision and administration of the duties of the state owned enterprises”,“Interim Measures for the administration of post consumption of the heads of central financial enterprises”,“Opposition party and government austerity waste regulations”,“The reform plan of the salary system of the central management enterprise”,“Opinions on the reasonable determination and strict regulation of the treatment of the central enterprises responsible for the performance of their duties and business expenses” etc.With the acceleration of the process of marketization in our country and the continuous development of the gradual reform,Enterprise salary system is improving,but in the media reports,has repeatedly appeared negative news executives extravagant consumption,such as China Mobile and Sinopec “price of wine” event,GREE wine events and other scandals,consumption problem of attention and caused a great disturbance.The existence of the above phenomenon makes us urgently need to study the problem is why the consumption of the enterprise in our country is so high? How to design and control the management of perk consumption? What role does the management power play in this process? Based on the theory of managerial power,this paper studies the relationship between management power and management's in-service consumption,and the different manifestations of this relationship in property rights heterogeneity.In order to prove the supervisory role of China's external supervision mechanism on the above relations,Supervising the variables and exploring the influence of the media supervision on the above relations.In addition,taking into account the realistic background of the "eight provisions" promulgated by our country,this paper examines the impact of corruption governance on the mechanism of media supervision.Under the arrangement of this kind of thinking,this paper hopes to solve the problem of management power and management in-service consumption,and clarify the role of external supervision in the design of perk consumption control mechanism.In order to give full play to the supervision of external media,to explore the media in different property rights of the company to play a supervisory role in the mechanism,in the active consumption control system targeted to effectively design the role of external media.In this paper,from 2009 to 2015 in Shanghai and Shenzhen securities trading market listed companies as A sample,empirical study of influence of managerial power on on-the-job consumption as well as the governance role of media supervision.The study found that there was a positive correlation between management power and perks,inhibited the media supervision in the process,the management tends to grab the private benefits to make use of the right of control,and the effect in the state-owned enterprises is more prominent.In addition,this paper studies the mechanism of media supervision to suppress the above-mentioned process before and after the introduction of the "eight provisions",and finds that the media plays a supervisory role in the private enterprise,mainly in the state-owned enterprises.The introduction of administrative intervention to play a supervisory role.The above conclusions provide a theoretical and empirical basis for a thorough understanding of the external media supervision mechanism and property rights constraints.