费用粘性、管理者自利与企业业绩

发布时间：2018-06-10 10:26

本文选题：管理者自利 + 费用粘性　；参考：《郑州航空工业管理学院》2017年硕士论文

【摘要】：费用粘性概念的提出推翻了传统费用习性假设所认为的企业业务量与费用呈线性变动关系,撼动了传统费用习性假设在传统管理会计理论中的基础地位,促使我们必须重新思考传统费用习性假设在新经济形势下的普适性,变革传统的费用控制和管理理念,改善企业绩效。已有研究成果多以其存在性、成因及影响因素等为切入点,鲜有学者就费用粘性的经济后果进行研究,这使得新形势下企业控制自身费用粘性水平、改善业绩无据可依。企业管理层作为企业费用行为选择的直接决策者,其行为必然会影响到费用粘性与企业业绩的关系;因此,通过约束管理者行为来改善企业业绩不失为一个新的视角。为考察费用粘性、管理者自利与企业业绩的关系,选取我国A股制造业上市公司2011-2015年的财务数据进行实证研究,结论如下:(1)我国A股制造业上市公司中,费用粘性与企业短期业绩呈显著的负相关关系,费用粘性程度越大,企业的短期业绩表现越差;(2)相反地,费用粘性与企业长期业绩呈显著正相关关系,企业维持一定的费用粘性水平有利于其长期业绩表现;(3)管理者自利行为进一步增强了费用粘性与企业短期业绩的负相关关系,不利于企业的短期业绩表现;(4)管理者自利行为削弱了费用粘性与企业长期业绩的正相关关系,有损于企业的长期业绩表现。结合实证研究结论,提出充分发挥董事会监督职能、合理设计制约和激励合同等相关管理启示。将费用粘性、费用粘性成因(管理者自利)及其经济后果(企业业绩)纳入同一研究框架下,不仅进一步扩大了费用粘性的研究范围,而且为控制企业费用、改善企业业绩提供了崭新的视角,是本文的亮点之一。此外,本文的另一特色为实证部分借鉴了国内学者鲜用的WEISS模型来计算各个年度单个企业的费用粘性水平,克服了ABJ模型的重大缺陷。
[Abstract]:The concept of cost stickiness overturns the traditional assumption that the business volume and the cost change linearly, which shake the basic position of the traditional expense habit hypothesis in the traditional management accounting theory. Therefore, we must rethink the universality of the traditional cost habit hypothesis under the new economic situation, change the traditional cost control and management concept, and improve the enterprise performance. Most of the existing research results are based on their existence, causes and influencing factors. Few scholars have studied the economic consequences of fee stickiness, which makes enterprises control their cost stickiness level and improve their performance under the new situation. As the direct decision makers in the choice of enterprise expense behavior, the behavior of enterprise management will inevitably affect the relationship between cost stickiness and enterprise performance; therefore, it is a new perspective to improve enterprise performance by constraining managers' behavior. In order to investigate the relationship between cost stickiness, self-interest of managers and enterprise performance, the financial data of A share manufacturing listed companies in China from 2011 to 2015 are selected for empirical study. The conclusions are as follows: 1) A share manufacturing listed companies in China. The higher the cost stickiness is, the worse the short-term performance is. On the contrary, the cost stickiness has a significant positive correlation with the firm's long-term performance. Maintaining a certain level of cost stickiness is beneficial to the long-term performance of enterprises. (3) the self-interest behavior of managers further strengthens the negative correlation between cost stickiness and short-term performance. (4) the self-interest behavior of managers weakens the positive correlation between the cost stickiness and the long-term performance of the enterprise, and damages the long-term performance of the enterprise. Combined with empirical research conclusions, this paper puts forward some relevant management implications, such as giving full play to the supervisory function of the board of directors, reasonably designing restriction and incentive contracts, and so on. The cost stickiness, the cause of cost stickiness (managers' self-interest) and its economic consequences (enterprise performance) are included in the same research framework, which not only expands the scope of the study of cost stickiness, but also controls the cost of the enterprise. Improving the performance of enterprises provides a new perspective, is one of the highlights of this paper. In addition, another characteristic of this paper is that the empirical part uses the WEISS model, which is rarely used by domestic scholars, to calculate the cost viscosity level of individual enterprises in each year, which overcomes the major defects of ABJ model.
【学位授予单位】：郑州航空工业管理学院
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F425;F406.7

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