| With the progress of science and technology,the promotion of urbanization and the improvement of national consumption capacity,the comprehensive contribution of listed companies in mechanical and electronic manufacturing industry to national economy is increasing day by day.As the basic support industry in people's life,the development prospect of listed companies in mechanical and electronic machinery manufacturing industry is more and more broad.But in recent years,with the slowdown of the overall economic growth,the rapid growth of human costs and financing costs,the low-cost advantages of the listed companies in the machinery and electronics manufacturing industry have ceased to exist,and gradually fell into the difficult position of small profit-making space.Faced with such a dilemma,the listed companies in China's mechanical and electronic manufacturing industry to achieve good business performance,sustainable development,we need to start from the internal controllable factors,that is,to do a good job in cost management and control.When the manager of a company carries on the cost management,he always starts with reducing the cost or even avoiding some expenses,so as to improve the performance of the company.However,some scholars have found that there is a benign "cost sticky" within the company,it will be more helpful to improve the performance of the company.Based on this,this article takes the life cycle as the starting point,probes into the influence of the cost sticky of the listed companies in the period of growth,maturity and decline period on the company performance,so as to put forward the corresponding cost management strategy.The research contents of this paper are as follows:(1)Compiling and summarizing the domestic and foreign research literature on cost sticky and its economic consequences,grasping the latest research trends,clarifying the research ideas and establishing the research framework.(2)Defining the concept of cost sticky and corporate performance.This paper analyzes the incomplete contract theory,principal-agent theory,resource allocation theory and life cycle theory,grasps the influence mechanism of cost sticky on company performance,and establishes the theoretical framework of research.(3)Based on the life cycle perspective,put forward assumptions,select indicators,and establish models to pave the way for empirical analysis.(4)Positively study the existence and difference of cost sticky of listed companies in different life cycle stages,and explore the impact of cost sticky on company performance in different life cycle stages,and carry out the robustness test.To ensure that the results are reasonable.(5)According to the results of empirical analysis,the research conclusion of this paper is drawn,and the rationalization proposal is put forward according to the actual situation.The results show that the cost sticky of listed companies in mechanical and electronic manufacturing industry is different in different life cycle stages,and the cost sticky is lowest in mature stage.In the growth stage,there is a significant negative correlation between cost sticky and corporate performance.In the mature stage,there is a significant positive correlation between cost sticky and corporate performance.During the recession period,there was no significant negative correlation between cost stickiness and corporate performance.The main innovations of this paper are as follows:(1)Dividing the life cycle of listed companies in mechanical and electronic manufacturing industry,researching with a new perspective;Secondly,factor analysis is used to establish the index to measure the company's performance,and a new index is used to study.(3)Introducing dummy variables into the model of studying the effect of cost sticky on company performance,and using a new model to study.It is the research direction and focus in the future to study the influencing factors of cost sticky in different life cycle stages and how to improve the relationship between cost sticky and performance. |
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