媒体关注、信息环境与公司费用粘性

发布时间：2018-01-08 21:27

本文关键词：媒体关注、信息环境与公司费用粘性　出处：《中国工业经济》2017年02期 　论文类型：期刊论文

【摘要】：费用粘性是企业成本性态相关领域的重要研究问题。以2009—2013年中国A股制造业上市公司为样本,本文考察了媒体关注对公司费用粘性的影响。研究发现:媒体关注对公司费用粘性具有显著的抑制作用,媒体关注程度越高,公司费用粘性越低;区分公司的信息环境,上述抑制作用主要存在于公司内外信息环境较差的情况下,在内外信息环境较好时不存在显著影响。进一步的研究显示,不同类型媒体关注的作用效果存在异质性,政策导向的媒体关注对费用粘性具有较强的抑制效果,而市场导向的媒体关注的抑制效果则较为微弱;此外,与信息环境影响的发现一致,在内部控制水平较低的公司中,媒体关注对费用粘性具有更强的治理效果。本文的发现肯定了媒体关注抑制公司费用粘性的积极作用,并将媒体关注这一重要的外部治理机制纳入费用粘性动因的分析框架中。
[Abstract]:Cost stickiness is an important research problem in the field of enterprise cost behavior. The sample of Chinese A-share manufacturing listed companies from 2009-2013 is listed in this paper. This paper examines the influence of media attention on corporate expense stickiness. It is found that media attention has a significant inhibitory effect on corporate expense stickiness. The higher the media attention, the lower the corporate expense stickiness. In the information environment of regional branch, the above inhibition mainly exists in the case of poor information environment inside and outside of the company, and there is no significant effect when the information environment inside and outside is better. Further research shows that. There is heterogeneity in the effect of different types of media attention. The policy-oriented media concern has a strong inhibitory effect on the cost stickiness, while the market-oriented media concern has a weak inhibition effect. In addition, consistent with the findings of the impact of the information environment, in companies with lower levels of internal control. Media attention has a stronger governance effect on the cost stickiness. The findings of this paper confirm the positive effect of media attention on restraining corporate expense stickiness. The media focus on this important external governance mechanism is included in the analysis framework of cost stickiness.
【作者单位】：中央财经大学会计学院;
【基金】：国家自然科学基金青年项目“国企高管行政级别与公司财务决策:理论与实证”(批准号71402198) 北京市社会科学基金青年项目“高管激励创新与费用粘性:针对北京市制造业企业的考察和研究”(批准号15JGC176)
【分类号】：F406.7;F425;G206
【正文快照】： 一、问题提出费用控制是企业日常管理的主要内容,也是经济决策考量的重要因素(刘武,2006)。其中,费用粘性是近年来财务会计领域颇受关注的热点问题,指的是业务量上升时费用的边际增加量大于业务量下降时费用的边际减少量的现象(Anderson et al.,2003)(1)。在企业销售收入下降

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