摘要
以2009~2015年制造业上市公司为样本,实证检验了自由现金流对成本粘性的影响以及债务约束下自由现金流对成本粘性的影响。研究结果表明,我国制造业上市公司存在成本粘性;自由现金流促进成本粘性;债务约束下,自由现金流对成本粘性的影响减弱。
Taking the 2009-2015 manufacturing listed company as a sample,this paper empirically examines the effect of free cash flow on cost stickiness and the effect of free cash flow on cost stickiness under debt constraint.The results show that there is a cost stickiness in Chinese manufacturing listed companies,free cash flow promotes cost stickiness,and the influence of free cash flow on cost stickiness is weakened under the constraint of debt.
作者
王东
尹宗成
WANG Dong;YIN Zong-cheng(School of Economic Management,Anhui Agricultural University,Hefei 230036,China)
出处
《安徽工业大学学报（社会科学版）》
2018年第1期24-26,34,共4页
Journal of Anhui University of Technology：Social Sciences
关键词
制造业上市公司
自由现金流
债务约束
成本粘性
manufacturing listed companies
free cash flow
debt constraint
cost stickiness
