An Empirical Research On Factors Of Cost Stickiness Of Agricultural Listed Corporation

According to the traditional model of cost behavior that pervades the accounting literature,cost behavior refers to the relationship between costs and particular activity in terms of the number of dependencies.Anderson et.al found that the relationship between cost and the volume of activity is not simply represented as symmetry relations and the concept of " cost stickiness " was proposed.Subsequently,the domestic scholars Sun Zheng and Liu Hao found that there is also a phenomenon of cost stickiness in listed companies in China,which has opened the upsurge of research on cost stickiness among domestic and foreign scholars.With the implementation and promotion of "Belt and Road" strategy and supply-side structural reform successively,enterprises have to pay more attention to cost control,especially to the main enterprises involved in the strategic implementation and promoting the reform process,in order to help the enterprises Future development wins the first chance and expands its market influence.In addition,under the background of the development of Internet and big data,the research of enterprise cost stickiness not only adds a lot of vitality,but also widens the research perspective.This paper takes agricultural listed companies in China as the research object and obtains 426 sample data of 36 companies after screening.Firstly,under the guidance of cost stickiness theory,we draw lessons from the research model of cost stickiness by Anderson et.al.Collecting,collating and processing the financial data of the sample company since listing.Secondly,we analyze and determine the factors that may affect the level of cost stickiness of the sample company,and divide them into two categories: subjective factor and objective factor.Among them,subjective factors mainly exist between shareholders and management,controlling shareholders and minority shareholders.The former is generally referred to as the first kind of agent problem,while the latter is called the second kind of agent problem.Objective factors include regional economic differences,inventory intensity and labor intensity.On the basis of this,it puts forward hypothesis and empirical test and result analysis such as whether the cost stickiness of agricultural listed companies is reversed and polarity reversal,the two kinds of agent problems will enhance the cost stickiness,and the difference of regional economy will lead to the enterprise's cost stickiness to be different.The higher of the inventory density and labor intensity in the enterprise,the higher of the cost stickiness will be.Taking the rate of change of operating cost as dependent variable,the rate of change of operating income,the first kind of agent problems,the second kind of agent problem,the difference of regional economy,the inventory intensity and labor intensity as independent variables,and taking macroeconomic situation as control variable.With the help of the variables,the multiple regression analysis model is constructed,and the empirical test and result analysis are carried out to make the research on the basis of reliability.Thirdly,using the constructed analysis model,this paper makes an empirical analysis of the factors influencing the cost stickiness of agricultural listed companies from the subjective and objective aspects.The empirical analysis shows that the cost stickiness of agricultural listed companies has both reversibility and reflexivity characteristics.The study of subjective influencing factors shows that: firstly,the two types of agent problems have significant enhancement effect on cost stickiness,but the first kind of agent problems are more prominent.Secondly,after considering the influence of the two cross terms,the influence degree of the two kinds of agent problems increases and decreases,which indicates that there may be a mechanism of interaction between the two types of agent problems.The results of objective factors study show that: first,the cost stickiness of agricultural enterprises shows significant difference in the three major economic regions of east-west-west of our country,and the degree of cost stickiness decreases gradually from west to east.Second,the higher inventory intensity does increase the cost stickiness of enterprises,while the effect of labor intensity on the cost stickiness is not significant.Finally,according to the conclusion of the research,the paper puts forward to improve the performance evaluation index system of agricultural enterprise managers,strengthen the internal governance construction of agricultural enterprises,seek the best way to expand the scale of enterprises,and actively introduce institutional investors.In order to strengthen the cost management,improve the management level and management efficiency,we should establish a perfect incentive system and improve the inventory management level of enterprises.