While under the traditional system of state-owned enterprises, supernumerary unemployment and social burden are the key points restraining the enterprises from improving their efficiency.

At the early days of 1930s, the peasant burden tended to be heavier because of the land taxation burden that was used to funds to carry out new measures of rural governance by county governments, and it was even heavier because of the other burden.

Different from many studies focusing on in- ternal corporate governance,this paper tests whether exter- nal circumstances had any effect on political interventions as- sumed by listed companies,with the corporate employee scale as a proxy of its social burdens.