Empirical Study On Cost Stickiness And Comprehensive Operating Performance Of Manufacturing Industry Enterprises

The traditional cost behavior theory holds that there is a linear relationship between cost and business volume.However,with the deepening of research,some scholars have found that the marginal rate of cost has asymmetry in the direction of different changes of business volume,That is,when the business volume increases,the cost increase is greater than the percentage of business volume decreases,and this phenomenon is described as Cost Stickiness.There is another concept called Anti-Cost Stickiness which is relative to the Cost Stickiness.The existence of Cost stickiness and Anti-Cost Stickiness phenomenon break the traditional understanding of the cost behavior model,and there have been some scholars questioned.Are there Cost Stickiness and Anti-Cost Stickiness phenomenon in China's enterprises? And what kind of impact will the Cost Stickiness and Anti-Cost Stickiness cause to the enterprises? Therefore,this thesis verifies the existence of Cost Stickiness and Anti-Cost Stickiness in China's manufacturing enterprises,and studies the relationship between the Cost Stickiness and the comprehensive operating performance,as well as the relationship between the Anti-Cost Stickiness and the comprehensive operating performance.This thesis takes the Shanghai and Shenzhen A-share listed companies in manufacturing industry as research objects,selects the company data from 2011 to2015 as the sample,uses Weiss model to calculate the Cost Stickiness and Anti-Cost Stickiness of China's listed manufacturing industry companies.At the same time,this thesis chooses the index from the four aspects of profit ability,solvency,operation ability and growth ability to construct the comprehensive operation performance index system,and uses the Factor Analysis Method to calculate the comprehensive business performance.In the empirical part,this thesis puts forward the hypothesis of Cost Stickiness and Anti-Cost Stickiness and enterprise's comprehensive operating performance,and then builds the model,validates the relationship between cost stickiness and comprehensive operating performance,as well as the relationship between Anti-Cost Stickiness and comprehensive operating performance.The results show that:(1)China's manufacturing listed companies not only shows the Cost Stickiness phenomenon,but also the Anti-Cost Stickinessphenomenon,and the Cost Stickiness phenomenon is more universal than the Anti-Cost Stickiness.And the level of Cost Stickiness and Anti-Cost Stickiness among the subordinate industry of the manufacturing industry varies greatly.(2)By using the Factor Analysis Method to calculate the comprehensive operating performance of the manufacturing enterprises,we found that the comprehensive operating performance of China's manufacturing industry is not good,and the performance of the subordinate industry of the manufacturing industry varies greatly.(3)The Cost Stickiness is negatively correlated with the comprehensive operating performance of the manufacturing industry enterprise,that is,the higher the Cost Stickiness level is,the worse the comprehensive operating performance is.However,when the level of Cost Stickiness is in the low condition,the comprehensive operating performance of the enterprise is better.(4)The Anti-Cost Stickiness has a significant positive correlation with the comprehensive operating performance of the enterprise,that is,the higher the Anti-Cost Stickiness level is,the better the comprehensive operating performance is.On the contrary,the lower the Anti-Cost Stickiness level is,the worse the comprehensive operating performance is.Finally,combining with the research results and the status of Cost Stickiness and Anti-Cost Stickiness of manufacturing enterprises in China,this thesis puts forward some related suggestions and measures,and also points out the further research direction.