| Cost management is an important part of enterprise management, It requires a systematic, comprehensive, scientific and reasonable control of corporate cost. It has great significance to production increase, expenditure savings, economic accounting, and the overall improvement of enterprise management level. In the traditional model of cost behavior that pervades the accounting literature, costs are described as fixed or variable with respect to changes in activity volume.In recent years, scholars have addressed a new concept of cost accounting-"cost stickiness", About which they declare sticky costs occur when costs increase more when activity rises than they decrease when activity falls by an equivalent amount. Most researches of cost stickiness are based on Large listed-company data, which is different from small and medium-sized enterprises (SMEs) data. Based on SMEs data analysis, We focus on pursing the existence of SMEs cost stickiness, the main factors that affect the SMEs cost stickiness and its impact on the SMEs debt financing.With the ABJ (2003) model,this dissertation analyses the sample of china listed SMEs data during the2009-2012periods through statistical way and hypothesis tests, In order to find the influence of financial management, industry competition degree, the life cycle of enterprise of SMEs cost stickiness. Also we explore when monetary policy changes, the impact of cost stickiness on debt financing of SMEs. Finally some suggestions have been put forward on improving SMEs financial management and solving the problem of debt financing.In this dissertation, empirical research results show that:(1) the cost of SMEs exist stickiness, and the cost stickiness of SMEs is greater than the average stickiness of listed big companies.(2) the financial management of SMEs in our country is not ideal, the distribution and financial incentives have a significantly impact on cost stickiness. The effective financial management has significant effect on cost stickiness relief.(3) the higher the industry competition degree is, the bigger the cost stickiness of SMEs are. When companies are mature,cost stickiness degree will be lower.(4) during the period of easy monetary policy, SMEs cannot get more loans from the bank, those enterprises which exsit stickiness will strive for more debt financing. |
