摘要
以供应商-客户关系为切入点,研究客户稳定性对企业成本粘性的影响,发现客户稳定性可以显著提升上游供应商企业的成本粘性,这一结论在采用Heckman两阶段检验、倾向得分匹配、双重差分法以及控制其他潜在影响因素等进行稳健性检验之后仍然成立。机制研究发现,稳定客户通过改变上游企业的调整成本、提高管理层乐观预期而最终影响企业成本粘性。异质性分析结果表明,当地区社会信任程度更高、客户关系更好、经济政策不确定性更大时,稳定客户带来的成本粘性提升效应更为明显。经济后果检验发现,客户稳定性导致的成本粘性对未来企业销售利润率具有积极的促进作用,是供应商企业储备资源、为未来蓄力的重要表征,反映了供应商企业的战略性成本决策行为。
Based on the supplier-customer relationship,this paper investigates the effect of customer stability on firm cost stickiness.The result indicates that customer stability can significantly improve firms cost stickiness,which survives a series of robustness checks including Heckman two-step estimation,PSM,DID and controlling for other potential influencing factors.Mechanism tests show that customer stability can affect cost stickiness by changing suppliers'adjustment costs and improving managers'optimistic expectations.Cross-sectional analyses reveal that the association between customer stability and cost stickiness is stronger with higher level of social trust,better supplier-customer relation and larger economic policy uncertainty index.The economic consequences show that the cost stickiness induced by customer stability has promotion effect on firm's ratio of sales in the future,which is a reflection of supplier firms'resources storage and strategic cost behavior.This paper extends the research on cost stickiness in view of supply chain,which provides experience value and practical reference for a better understanding of supply chain management and firm cost decision making.
作者
王菁华
毕超
WANG Jinghua;BI Chao(School of Accounting,Nanjing Audit University,Nanjing 211815,China;Institute of Intelligence Management Accounting and Internal Control,Nanjing 211815,China)
出处
《审计与经济研究》
北大核心
2023年第6期55-64,共10页
Journal of Audit & Economics
基金
国家自然科学基金青年项目(72002105)
江苏高校“青蓝工程”优秀青年骨干教师资助项目。
关键词
客户稳定性
企业成本粘性
调整成本
管理层预期
产业链
供应链
代理成本
customer stability
firm cost stickiness
adjustment costs
managers'optimistic expectations
industry chain
supply chain
agency cost
