Abstract: International operation is an important way for Chinese enterprises to use global production factors and domestic and foreign markets. So, compared with the enterprises that do not carry out international operations, will the international operations of Chinese transnational enterprises aggravate their executives’ excess consumptions related to their positions? Taking Chinese A-share listed companies from 2007 to 2021 as the research objects, this paper discusses the private profits grabbing behavior of the executives of multinational corporations from the perspective of their excess position-related consumptions. The findings show that the higher the degree of international operation of the corporates, the higher the degree of excess consumptions related to positions of executives. The higher operational risks and the lower financial risks will strengthen the positive correlation between the international operations of corporations and the excessive position-related consumption behaviors of executives. The result of the mechanism test reveals that the corporate product market risks, excess cash holding behaviors of executives and overseas M&A behaviors caused by corporate international operations respectively constitute the pressure, opportunities and excuses for the occurrence of executives’ excess position-related consumptions. The result of further test reveals that executives’ excess position-related consumptions in multinational corporations will exert an adverse impact on the total factor productivity of the enterprises. The heterogeneity tests find that when the quality of information disclosure is high and the proportion of institutional investors is high, executives’ excess position-related consumption behaviors in multinational corporations can be significantly suppressed.

Key words: multinational corporations, international operation, executive private profits, excessive position-related consumption, total factor productivity