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Research On Collective Encroachment Of Executives Based On Herd Experiment

Posted on:2020-01-11Degree:MasterType:Thesis
Country:ChinaCandidate:Z Y CaoFull Text:PDF
GTID:2439330572995758Subject:Business management
Abstract/Summary:PDF Full Text Request
The collective encroachment of corporate assets by the executives as a problem of corporate governance is also a social dilemma that has had a bad impact on the company and society,shaken people's confidence in corporate governance and the modern corporate system,and seriously hindered the harmonious and healthy development of the social economy.Understand the reasons for the collective encroachment of senior executives,and propose that the countermeasures for governance have certain research significance.In this regard,this paper makes a research hypothesis on the internal mechanism of collective encroachment of executives,and believes that collective encroachment is not only due to power rent-seeking,loss of professional ethics,but also partly because of the herd effect,following the encroachment of other executives,leading to Self-interested behavior.In this paper,Maximiliano Gonzalez(2006)'s herd experiment is taken as the basic framework.Through the collation and realistic analysis of the literature,the correct rate of private information and the size of fines are adjusted in the experimental design.In addition,by combing the literature and theory,it is considered that the first invasion of people The two factors of power intensity and punishment strength can affect the herd behavior of the group,so two variables of power intensity and punishment intensity are added to the model,and two experiments are set accordingly.In Experiment 1,the encroachment of executives was placed in the context of information symmetry,and the correct rate of private information obtained by each character was the same.In Experiment 2,the encroachment of executives was placed in the context of information asymmetry,that is,the first decision maker.The power is higher,the accuracy rate of private information is higher.In the third experiment,different punishments are applied to the subjects who have been invaded.The results show that in the situation of information asymmetry,that is,when the first decision-maker has greater power,the herd effect is significant,and the collective encroachment of the executives has herd behavior;in the situation of information symmetry,the herd behavior exists but not significant;In experiment 3 with different penalties,the herd behavior has the lowest probability of occurrence.Two conclusions are drawn.The first conclusion is that the greater the power of the first decision-maker,the more obvious the behavior of the group's collective decision-making,so the company's supervisors and supervisory agencies should strengthen the supervision of the CEO,and should speed up the information.Open up to reduce the occurrence of collective encroachment.The second conclusion is that different penalties for individuals who have been invaded at different times can alleviate the herd effect of collective encroachment.In this regard,when penalizing the invaders,the punishment should be determined not only according to the amount of encroachment,but also according to the encroachment.The chronological order is designed with different penalties to reduce the collective encroachment from the root cause.
Keywords/Search Tags:collective occupation by executives, herd behavior, power intensity, punishment
PDF Full Text Request
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