Financial Supervision Systems,Organizational Cost Efficiency and the Mediating Effect of Opportunism
By the introduction of financial opportunistic behavior as a typical characteristic variable during transition period,this paper constructs an analytical model of mediating effect and makes a theoretical and empirical study of the relationship between supervision systems and organizational efficiency.It comes to the following conclusions: firstly,opportunism has the significant mediating effect on the relationship between financial supervision and organizational efficiency and the routs and levels of this mediating effect of opportunistic behavior with various types differ,thereby leading to different efficiency performance;secondly,the supply of supervision systems and the interaction among different systems have significant effects on opportunism and efficiency.In addition,empirical study also shows that measures such as expanding the autonomy of financial institutions,strengthening market supervision,promoting state-owned shares reduction and deepening the reform of corporate governance are conducive to the improvement of organizational efficiency;the supply of supervision systems should pay attention to not only the direct effect on organizational efficiency,but also the governance role in organizational opportunistic behavior.