The Study On The Characteristics And Market Irregularities Of Senior Executives In Branch Offices Of Life Insurance Companies

"Top Echelon Theory" holds that the company's executives are limited rational,and they will take action based on their own experience,risk perception,value cognition and the cognitive interpretation of the current situation formed by their psychological state,i.e.the behavior of the executives themselves can be partially explained by their psychological state,while the background characteristics of the executives will have an impact on their psychological state,and then affect the market behavior of executives.Based on the purpose of reducing market irregularities,it is of practical significance to study the relationship between the background characteristics of executives and market irregularities.In order to verify the relationship between the background characteristics of senior executives and the market violations of senior executives,this paper takes Shandong Province as the investigation area,selects the market violations of senior executives in 31 branches of life insurance companies as research samples,and makes a comprehensive analysis.On the basis of previous research and data availability,this paper selects the representative variables of senior executives' background characteristics such as education level,position,gender,age,duration of employment,marital status as explanatory variables,and selects whether or not senior executives have violations and the number of violations as explanatory variables to establish probit and order Probit model,a comprehensive analysis of the impact of the background characteristics of the senior executives in the branches of life insurance companies on the market irregularities.The main conclusions are as follows:1.Whether the executives of branches of life insurance companies have market violations is measured by whether they are subject to internal punishment,the regression results of whether the executives of branches of life insurance companies have market violations and the background characteristics of executives show that,the higher the education level,the lower the probability of market violations;The higher the position level of the branch executives,the lower the probability of market violations;The increase of the age of senior executives in branches of life insurance companies does not always increase the probability of market violations,but presents an inverted "U" type change,that is,before a certain age,with the increase of age,the probability of market violations of senior executives will increase,but after a certain age,with the increase of age,the probability of market violations of senior executives will decrease.2.Whether the executives of branches of life insurance companies are subject to regulatory penalties is the measure of whether they have market violations,the regression results of whether the executives of branches of life insurance companies have market violations and the background characteristics of executives show that,the higher the education level,the lower the probability of market violations;the higher the position level,the lower the probability of market violations.3.Taking the number of internal punishments as the standard to measure the severity of market irregularities of senior executives of branches of life insurance companies,the regression results between the severity of market violations and the background characteristics of executives in branches of life insurance companies show that,the higher the education level of senior executives,the lower the severity of market violations;the higher the post level of senior executives,the lower the severity of market violations;the influence of senior executives' age on the severity of market violations also presents an inverted "U" type change.The empirical results show that some of the background characteristics of the executives in the branches of life insurance companies will affect their market violations.Therefore,according to the empirical test results,this paper puts forward suggestions from the perspective of the background characteristics of senior executives in the branches of life insurance companies to prevent senior executives from market violations.According to the order of empirical regression results,the specific suggestions are as follows:First,in the process of selecting senior executives,we should try our best to hire people with high education background;Second,we should strengthen the supervision of low-level senior executives.The conclusion shows that the higher the position level of the branch executives,the lower the probability of market violations.However,the lower level executives may receive less attention,sometimes they will be in the regulatory blind area,and their awareness of avoiding violations is not enough,which results in violations in decision-making.Therefore,it is necessary to strengthen the supervision of low-level senior executives in the process of market regulation,enhance their awareness of avoiding violations and prevent violations;Third,strengthen the supervision of young executives and improve the attention of senior executives;fourth,optimize the company structure and simplify personnel;fifth,establish and improve the compliance department;sixth,strengthen the education of avoiding violations of senior executives.