Can The Governance Of Party Committees Of State-owned Holding Companies Curb Executive Corruption?

Since the 18 th National Congress of the Communist Party of China,China has set off a new upsurge in anti-corruption,and one of the corporate corruption cases has appeared in the field of view.Many senior officials have been affected by corruption,bribery and insider disclosure.Dismissal investigation.The negative consequences of executive corruption not only bring losses to the enterprise,but also to the country and society has brought serious adverse effects.China's serious corruption in the executive authorities has aroused widespread attention from all walks of life,but now the academic community on the corruption of executives research is more emphasis on descriptive research,lack of corruption on the behavior of executives to induce the analysis,Combined with China's special political system environment,to find suitable for China's state-owned enterprises in the actual situation of the regulatory approach and path related research.In order to effectively curb the occurrence of executive corruption,combined with China's institutional background of the constraints of executive behavior of corruption factors is very important.The author focuses on the requirements of the CPC Central Committee on the building of the party's work style and the struggle against corruption,combined with the reform of state-owned enterprises and the idea of strengthening the party's construction on the party's leadership in the mixed-ownership reform,and the corruption of executives This paper explores whether the corporate governance of state-owned enterprises can inhibit the corruption of executives in the special political background and further analyze the mechanism of the party committee's governance to curb the corruption of executives-from the perspective of executive power allocation,-Party governance through the formation of executive power constraints to curb the occurrence of executive corruption.The analysis of this paper is Shanghai and Shenzhen A shares of state-owned holding company,from 2007 to 2014.After the deletion,the number of data samples is 4877.Executives corruption is measured with executives of monetary corruption and non-monetary corruption.Monetary corruption is measured by the difference between the actual remuneration of executives and the expected normal pay of executives expected by economic factors.The non-monetary corruption is measuredthe difference between the actual in-service consumption of executives and the expected normal working consumption of executives determined by economic factors Said.Party committee governance with the party members in the company's board of directors,board of supervisors and senior management of the coincidence,that is,"two-way" to measure the degree of participation in the company's decision-making level.The rights of executives are measured as follows: the size of the board of directors,the status of the two posts,the general manager of the office,the general manager has a senior title,whether the general manager has a high degree of education,the proportion of internal directors,whether the general manager holding shares,Eight indicators with the median of the median,higher than the median of the value of 1,otherwise the value of 0,and eight indicators of the arithmetic mean as the management of the power of the characterization.The higher the authority of the state-owned enterprises,the higher the probability of the occurrence of the corruption of the executives;the higher the degree of the party's participation in corporate governance(including the participation of the party committee in the board of directors,the participation of the party committee in the board of supervisors and the participation of the party committee in management,The lower the probability of the occurrence of executive corruption,and further,the regression results of the mediator variables show that with the strengthening of the party's governance,the lack of supervision and the formation of executive power is too high and the possibility of formation of corruption With the result that the party's governance on the corruption of executives to play a way to play through the constraints of executive power to run.By examining the results of the anti-corruption struggle of the CPC Central Committee at the level of the state-owned enterprises,the paper makes recommendations on how to reform the party's anti-corruption work and how to set up the executive power and how to strengthen the party's construction and leadership.