Jeff Bezos told BBC TV's Business Today programme that it was common practice for bosses to be offered a slice of new flotations by Wall Street banks.

It does create the opportunity for there to be at least the misperception of a conflict

Jeff Bezos Amazon founder

His comments came after the practice of rewarding executives with shares was highlighted in the US.

An inquiry by the Congressional House Financial Services Committee found that Goldman Sachs might have rewarded executives at firms which gave it lucrative investment banking business with privileged access to 'hot' new stocks.

And New York attorney general Eliot Spitzer launched a civil lawsuit against five corporate chiefs in an attempt to recover money they earned through new stock allocations awarded by Salomon Smith Barney.

Moving the goal posts

"I have historically turned down these offers, not because it's necessarily wrong but it does create the opportunity for there to be at least the misperception of a conflict," said Mr Bezos.

But he was reluctant to criticise other chief executives.

"I think that chances are that they didn't do anything wrong.

"It's one of those things where it was very, very common and a lot of people were doing it and then the lines moved," he said.