中国上市公司费用粘性行为的经验证据——基于上市公司实质控制人性质不同的视角  

An Empirical Study on the Cost Stickiness Behavior from Chinese Listed Companies: Base on Difference Nature of Actual Controller

作　　者：万寿义[1] 徐圣男[1] 

机构地区：[1]东北财经大学会计学院,辽宁大连116025

出　　处：《审计与经济研究》2012年第4期79-86,共8页Journal of Audit & Economics

基　　金：2012年教育部人文社会科学研究一般项目(12YJA630112)

摘　　要：已有研究发现,成本费用随业务量增减变动的变化具有不对称性,费用因业务量增加而上升的速度要高于业务量减少时费用降低的速度。本文将我国沪深两市A股上市公司按照实质控制人性质的不同,分为国有上市公司和非国有上市公司,分别对其2004年—2010年的财务数据检验后发现:(1)我国国有上市公司和非国有上市公司的销管费用均存在费用粘性行为;(2)国有上市公司的费用粘性程度要高于非国有上市公司;(3)金融危机后我国上市公司费用粘性程度有所提高,非国有上市公司提高幅度较大;(4)资本密集度对于我国上市公司费用粘性的增强起到一定作用,相比较而言,国有上市公司受其影响较强烈。Existing studies on cost behavior indicate that the proportion of cost change with volume increases and decreases is asymmetric. The speed of cost increases with volume is faster than the speed of cost decreases. In this study, we divide Chi- nese listed companies based on difference nature of actual controller into two classifications, state-owned listed companies and non state-owned listed companies. By analyzing the accounting data during 2004 to 2010 of these listed companies respective- ly, we find ： （ 1 ） SG﹠A costs have a feature of stickiness with changes in volume in both types of listed companies ; （2） the speed of state-owned listed companies＇ SG﹠A increase is faster than non state-owned listed companies＇; （3） after the financial crisis, the cost stickiness＇ degree of Chinese listed companies improves, while the situation of non state-owned listed companies＇ is more serious ; （4） cost stickiness of listed companies in China is enhanced by capital-intensive, and state-owned companies are affected more strongly.

关 键 词：企业费用粘性 实质控制人 金融危机 国有上市公司 非国有上市公司 成本性态 

分 类 号：F235.19[经济管理—会计学]