| Issue |
E3S Web Conf.
Volume 214, 2020
2020 International Conference on Energy Big Data and Low-carbon Development Management (EBLDM 2020)
|
|
|---|---|---|
| Article Number | 01031 | |
| Number of page(s) | 6 | |
| Section | Big Data Analysis Application and Energy Consumption Research | |
| DOI | https://doi.org/10.1051/e3sconf/202021401031 | |
| Published online | 07 December 2020 | |
Macroeconomic uncertainty and cost stickiness
1 Business School of Sichuan University, No.24 South Section 1, Yihuan Road, Chengdu, China
2 Business School of Sichuan University, No.24 South Section 1, Yihuan Road, Chengdu, China
3 Business School of Sichuan University, No.24 South Section 1, Yihuan Road, Chengdu, China
4 Business School of Sichuan University, No.24 South Section 1, Yihuan Road, Chengdu, China
a lzy_feng@scu.edu.cn
b c_x_29@163.com
c Zmeng_w@163.com
d wenxianaccountant@163.com
Cost management is the core issue related to the development of enterprises, and studying enterprise cost behavior will contribute to optimizing enterprise decisions. However, an enterprise is not an independent organization. Instead, it exists and is affected by the macroeconomic environment. So it is conducive for company to apply macroenvironment information to cost management behaviors. This paper studies the cost stickiness based on the perspective of macroeconomic uncertainty, and takes “adjustment cost” and “agency problems” as the internal logic to integrate into the existing interpretation framework of cost stickiness. We analyze SG&A costs for Chinese listed firms over the period 2013 – 2019 after controlling for known economic determinants. The results show a positive relation between the macroeconomic uncertainty and the degree of cost asymmetry. In particular, the macroeconomic uncertainty makes the cost stickiness of human resource cost weaken.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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