Study On Cost Stickiness And Influencing Factors Of Listed Companies In Coal Industry Under The Background Of Supply Side Reform

Since the end of the "Golden Decade" of coal industry in 2012,the proportion of coal consumption,which ranks the first in China’s energy consumption,has been decreasing year by year,but in the short term,coal consumption still plays a dominant role in energy consumption.At the same time,the structural reform of the supply side puts forward the "three removal,one reduction and one repair"(reduction of capacity,destocking,deleveraging,cost reduction and strengthening of weak links).As a key industry affecting China’s economic development in the energy industry on the supply side,the coal industry is facing industrial optimization and restructuring reform.The development of coal enterprises needs to optimize internal management under the influence of supply-side policies,and cost control is the top priority.Cost stickiness is the phenomenon that the fluctuation range of business volume is not equal to the fluctuation range of cost in the actual production and operation of enterprises.It is a new research hotspot in management accounting discipline.In this paper,combining with the reform of supply side resource,capital and labor,system,innovation of five Angle,the viscosity,this paper analyzes the factors which influence the cost of coal industry listed companies,to explore the debt levels,equity structure,intensity of fixed assets,labor intensity,r&d and viscosity influence factors such as internal control quality and cost,the influence of the assumptions are put forward.In the empirical part,this paper takes the financial statement data of 18 listed coal washing companies from 2010 to 2019 and the internal quality control index of enterprises in Dubo database as samples,and makes an empirical analysis by using Anderson’s cost stickiness index model.The empirical results show that:(1)The listed companies in coal industry have cost stickiness,and the cost stickiness after the supply-side reform is higher than that before the reform.(2)The cost stickiness of listed companies in coal industry is reversible and reversible.(3)Asset-liability ratio,non-current liabilities,ownership concentration,fixed assets intensity,labor intensity and R&D investment are positively correlated with the cost stickiness of listed companies in coal industry;Current liabilities and internal control quality are negatively correlated with cost stickiness of listed companies in coal industry.On the basis of the above conclusions,this paper puts forward management suggestions to reduce cost stickiness from three aspects of capital structure,capital investment and internal control of listed companies in coal industry.