Research On The Factors Influencing The Budget Relaxation From The Perspective Of Control Right Allocation

As an important part of China's economic development,especially in "Made In China 2025”,the sustainable development of manufacturing companies related to China's future economic development trend.In order to better allocate enterprise resources to every need,so that enterprises can be efficient and stable development,budget management as a widely used management and control tools,plays a strategic allocation of enterprise resources in domestic and foreign enterprises.Comprehensive budget management can become an important control tool for the daily operation and management of enterprises,not only has the great significant impact on the cost investment,but also on the future development of enterprises and strategic development and other aspects.However,in recent years,because of the special nature of our enterprises,the value of the socialist market economy has developed rapidly,the budget management in the implementation process also has the voice of questioning,the most concentrated negative voice is mainly due to the impact of budget slack.In general,budget slack is produced by corporate agents in pursuit of personal gain,whlie they overestimate costs or resources when developing budget plans,and intentionally underestimate income or capacity.The result of this is that the business performance of the business may be affected,leading to a reduction in overall resource allocation efficiency.The problem of budget failure is also very prominent in the practical application of enterprise budget management in China.Through the deep understanding of the causes of the budget slack,this paper is based on the perspective of control,through the allocation of control of the enterprise in the shareholders,the board of directors and the management of the three levels of different factors,to study the degree of impact on the budget slack.This article is divided into five chapters.The first chapter through the research background and research significance to explain and combing domestic and foreign research;the second chapter is the theory related to budget management and control allocation;the third chapter is the analysis of the factors affecting the budget relaxation from three levels;the fourth chapter is the empirical analysis of this article,through descriptive statistics and regression analysis and robustness test to draw the corresponding conclusions;chapter 5 summarizes and draws the corresponding recommendations.The article concludes that the control configuration has an impact on budget slack.First of all,at the shareholder level,equity concentration,equity balance and the nature of the business are significantly related to the relaxation of the budget;at the board level,the establishment of independent directors will have an impact on budget relaxation;at the manager level,setting the equity incentive will have an impact on budget loosening.