Using a sample of listed state-owned enterprises in China from 2013 to 2018, this paper focuses on the impacts of compensation regulation policy on the changes of incentive mode for SOE executives. We find that after the policy, the compensation incentive channel for highly-paid executives has...

The Property Rights Theory states that clearly defined ownership is the premise of efficiency, while ambiguous property rights result in great externalities. We use the establishment of local SASACs as a quasi-natural experiment to investigate how unifying the supervision rights and...