The Study On The Relationship Among Media Attention, Institutional Investor Ownership And Enterprise Cost Stickiness

Existing studies have found that when an enterprise is growing a business cost increase amplitude is greater than the volume to reduce the cost to reduce the amplitude,the viscous behavior and think the cost and volume into linear proportion of traditional cost theory.Traditional accounting is divided into fixed cost and variable cost according to enterprise business.Within the scope of a certain volume,the fixed cost assumption is independent of the business volume,while the variable cost assumption is a linear change with the change of business volume.Obviously,the traditional cost behavior simplifies the reality and does not explain the real problems very well.The current research on the stickiness of enterprises' cost is mostly focused on the internal governance mechanism of the company,but due to the imperfect existing laws and systems,the results are not very optimistic.Therefore,this article tried to break through the original research perspective,in the perspective of media attention,seeking external to the enterprise cost management method the influence of viscosity,and further explores the ways of viscous media attention influence enterprise cost.First,this paper summarizes the research status of relevant scholars at home and abroad,and combining the relevant theories of corporate governance,the relevant theories of media,which induces the media attention,the institutional investors holding sticky logic relationship with the enterprise cost,put forward relevant assumptions.Secondly,the social services and communication culture listed companies in 2012-2016 were selected as samples,and the regression analysis was conducted.At the same time,the influence of media attention on the stickiness of enterprise cost is verified.This paper is divided into six parts:the first part is the introduction,which mainly expounds the research background and topic significance,the research content,method andinnovation points.The second part is the literature review,mainly collating and summarizing domestic and foreign institutional investors' shareholding,media attention and the current situation of the research on the stickiness of enterprises' cost expense.The third part is the conceptual definition and the theoretical basis,the relevant concepts are defined,and the relevant theories are analyzed.The fourth part is to study the design part,including three hypotheses based on theoretical analysis,to design and construct the variables.The fifth part is the empirical test,which mainly includes descriptive statistics and hypothesis testing on the basis of sample data collation,and draws the main conclusions of this paper.The sixth part is divided into the conclusion and policy suggestion of this paper,which is mainly aimed at the corresponding policy suggestion and the deficiency of the paper and the future prospect.This article through to our country's social services and spread culture class five years of data for empirical of listed companies,the following conclusions:(1)The higher the media attention level,the lower the stickiness of enterprises' cost expense;(2)The higher the institutional investor shareholding,enterprise cost t-he lower the viscosity;(3)Under the media's attention,the enterprises with higher share holding ratio of institutional investors will restrain the stickiness of the co-st of enterprises.(4)Policy-oriented reporting strengthens the impact of institutiona-l investor ownership on the stickiness of cost costs.This article not only stay in the cost of the enterprise on the internal governance mechanism of viscous,also joined the media attention to the external governance mechanism,research on b-oth the details of the link cost of the enterprise viscosity.It is found that throug-h media attention to the intervention of administrative agencies,institutional inve-stors exert pressure on management to reduce the cost and cost of enterprises.