Research On The Impact Of Cost Stickiness On The Performance Of Coal Listed Companies

After China’s coal industry experienced the "Golden Ten Years",coal demand continues to be at a low poi’nt.Most coal companies are in a state of deficit.Strengthening cost management is a necessary means for coal companies to survive in a crisis,so the cost and cost are well controlled for coal.The performance of a company is significant.In recent years,scholars at home and abroad have discovered the existence of cost stickiness through the research.The universal existence of cost stickiness objectively requires people to understand the law of cost changes from a new perspective in practice.This article mainly uses the literature review method,statistical analysis method and the combination of quantitative and qualitative methods for systematic analysis and research.First of all,from the perspective of market demand,inventory,coal prices,profit levels and other aspects of the development of rthe coal industry to explain and analyze,confrmed that the cost control of the coal industry is imperative.At the same time,from the perspective of cost stickiness,the current status of cost stickiness and volatility of coal listed companies are explored.According to relevant theories,the mechanism of the effect of cost stickiness on firm performance is analyzed from the perspective of both long and short term,and the hypothesis that the listed company’s cost stickiness and the company’s long-term and short-term performance is in an inverted U-shaped relationship is proposed.Then use the WEISS model to calculate the specific cost stickiness value,use factor analysis method to select the control variable index in the relevant factors that affect the cost stickiness and business performance,and establish a research model that influences the long-term and short-term performance of coal enterprises according to known variables.Secondly,based on the Cathay Pacific Database,this article selects listed coal companies listed in Shanghai and Shenzhen during 2007-2016 as samples.Through descriptive analysis,correlation analysis,regression analysis,and other analysis results,we strengthen internal governance and improve the external environment.On the other hand,it proposes to eventually achieve relevant recommendations for improving the level of corporate performance through effective control over the degree of cost stickiness.Finally,the following conclusions are drawn:(1)There is a cost stickiness in China’s coal listed companies.(2)There is no significant correlation between the cost stickiness of coal listed companies and their short-term performance.(3)The cost stickiness of coal listed companies has a significant inverted U-shaped relationship with the long-term performance of the company,and establishes a cost-viscosity interval of[-0.219,0)that has an effect on the long-term performance of coal companies.Based on the above findings,the limitations of this paper are proposed to provide reference for the scientific and effective cost management of coal enterprises.