Research On The Impact Of Salary Limit Order On The On-duty Consumption Of State-owned Enterprise

In recent years,the on-duty consumption behavior of state-owned enterprises has been widespread,resulting in a large loss of state-owned assets,which has seriously damaged the interests of companies.In order to prevent the abuse of funds,promote the stable development of enterprises,since January 2015,our government has implemented the salary system reform program for the heads of state-owned enterprises,which is called the most stringent "salary limit order" in history.It not only limits the monetary salary,but also further regulates the on-duty consumption behavior.Restricting monetary remuneration may stimulate on-duty consumption,while directly restricting on-duty consumption will undoubtedly reduce on-duty consumption of management.Therefore,it is unclear whether the salary limit order has succeeded in curbing on-duty consumption.At present,no scholars have examined the effect of salary limit order on on-duty consumption and studied it in combination with internal factors of enterprises.This thesis will study the impact of salary limit order on the on-duty consumption of state-owned enterprises from the perspective of internal control.This thesis takes the A-share of state-owned listed companies in Shanghai and Shenzhen from 2013 to 2017 as the research sample,the private listed companies as the control group.Firstly,using the PSM-DID method,this thesis empirically tests the overall impact of salary restriction orders on the on-duty consumption of state-owned enterprises.Secondly,through quantile regression,this thesis examines the difference of the effect of wage limit order on on-duty consumption in state-owned enterprises with different internal control quality.Finally,the internal control is divided into five elements to test the impact of the five elements on the relationship between the salary limit order and the on-duty consumption,and try to find ways to enhance the effect of the salary limit order on on-duty consumption from the inside of state-owned enterprises.The results show that,on the whole,the on-duty consumption of state-owned enterprises has decreased significantly after the implementation of the salary restriction order.The effect of salary limit order on on-duty consumption of state-owned enterprises is different under different internal control quality.The interim salary limit order of state-owned enterprises whose internal control quality is less than 1/4 has no significant effect on on-duty consumption.The interim salary limit order of state-owned enterprises whose internal control quality is more than 1/4 has obviously restrained on-duty consumption.Further research finds that strengthening the internal environment,information and communication,and internal supervision related system construction in internal control will enhance the restraining effect of salary restriction order on on-duty consumption.This thesis combines the salary limit order with internal control,provides a new research perspective,enriches the relevant literature of on-duty consumption governance,and affirms the positive role of salary restriction order in regulating managers' on-duty consumption behavior.From the perspective of internal control,it puts forward suggestions to play the restrictive role of salary limit order in on-duty consumption.It can help enterprises take specific measures to supervise and restrict on-duty consumption behavior,and provide reference for the state to promulgate salary policy and improve relevant laws and regulations.