Impact of Stock Surplus Deviation on Excess Executive Salary

Abstract

This study takes listed companies on Shenzhen and Shanghai stock exchanges from 2017 to 2019 as the research object, and examines the impact of stock surplus deviation on excess executive salary. The research results show that the degree of stock surplus deviation has a significant positive impact on excess executive salary. It suggests that when corporate right of control deviates further, since the actual salary cost borne by the controlling shareholders is lower than the actual salary cost paid by the company, possibility of excess executive salary is higher.