| China joined WTO since 2001, during the time our country’s enterprises have gradually participated in the core competition of the whole international economic market. external competition of enterprises is increasingly fierce, cruel and running through them. The competition covers the whole process of production, sales, distribution and after-sales service, cost management is faced with unprecedented pressure and urgency. Managers must try to find a variety of effective ways to reduce the cost of each link in the process of enterprises’ daily management activities, cost management has become the most important part of the enterprise in the present WTO, however, the initial task of cost management is the study on Cost Behaviors, from the view of traditional Management Accounting, linear relationship exists between costs of different character and business volume, but in the actual practice of enterprises, costs is not fully changed symmetrically with the transformation of business volume, sometimes costs of enterprises and business volume exist the asymmetric phenomenon which is called "Cost Stickiness" by scholars. The proposed Cost Stickiness questioned traditional Cost Behaviors, which caused great attention to the relational study on Cost Stickiness in the academic field.Through the research on the Cost Stickiness, it is helpful to enrich the theory of Cost Stickiness and further improve the existing Cost Management theory; It is helpful to promote market-oriented reforms, provide directions to improve the efficiency of resource allocation, improve the ability of monetary policy to adjust macro-economy, promote supervision departments to strengthen the supervision, and constantly improve the internal governance, so it has important theoretical and practical significance to do study on the factors of Cost Stickiness.The research methods of this paper include normative research and empirical research. Firstly, the paper reviews and summarizes the research methods of domestic and foreign academic field, and then analyzes the related theoretical basis of Cost Stickiness, such as Agency problem, Managerial Expecting and Bounded Rationality which provides theoretical support for the follow empirical research. Second, this paper gives a detailed amount of Research framework based on macro and micro interaction which is proposed by Pingui Rao and Guohua Jiang. Finally, the paper uses empirical research to demonstrate the influence of Index of Regional Market on Cost Stickiness and the influence of Macro Monetary Policy on Cost Stickiness.The full text is divided into seven chapters, the main research contents of each chapter are as follows:The first chapter is introduction. This chapter mainly introduces the background of this paper, reveals the economic background, and then analyzes the theoretical significance and practical significance of the research on Cost Stickiness, and then describes research contents and structure, besides, analyzes research methods and innovation points in the study process of cost stickiness.The second chapter is literature review. Firstly, this chapter reviews related research literature of domestic and foreign academic field, then sum up according to the existence, difference, influence factor and economic consequence of Cost Stickiness, And summarize the influence factor of Cost Stickiness from three view of Resource Adjustment Costs, Management Expectations and Agency problems, and makes a review of the literature which praises the domestic and foreign scholars research results, furthermore, expounds the defects and shortcomings of the research on the factors and economic consequences of the Cost Stickiness, the necessity and future development of Cost Stickiness are pointed out.The third chapter is theoretical basis. This chapter firstly defines the concept of Cost Behavior, Cost Stickiness, etc, it also defines the Adjustment Costs, Management Expectation and Agency problems of resources, And emphatically introduces the theoretical basis of the Cost Stickiness:Agency problem, Managerial Expecting and Bounded Rationality, according to which it analyzes the relationship respectively between these theories and Cost Stickiness, and explains the whole process of the impact on Cost Stickiness, which has laid a solid theoretical support For the follow-up empirical research.The fourth chapter is the research framework based on macro and micro interaction. This chapter firstly analyzes the present situation of domestic and international accounting research, and gives a detailed amount of Research framework based on macro and micro interaction which is proposed by Pingui Rao and Guohua Jiang. Through the research on the interaction between macro economic policy and micro enterprise behavior, and the research on the relationship between macro economic policy and micro enterprise behavior, the perspective of accounting research is expanded, which provides a new academic research direction, it is helpful to conduct a comprehensive study of accounting field which combines the macro economic policy and the micro enterprise behavior and play the guiding role of Macro Monetary Policy.The fifth chapter is the empirical research on the Index of Regional Market and the cost stickiness based on research framework. Considering the Research framework based on macro and micro interaction which is proposed by Pingui Rao and Guohua Jiang, On the basis of Referring to the analysis view of the framework, this chapter mainly studies the impact of Index of Regional Market on enterprise Cost Stickiness. The study on Index of Regional Market in economy and Cost Stickiness in financial accounting is crossly studied through the research model of macro economic policy, Index of Regional Market, resource Adjustment Cost and Cost Stickiness, which only explains the change of Cost Stickiness using resource Adjustment Cost, but also analyzes the influence of Index of Regional Market influenced by Macro Economic Policy on the change of Cost Stickiness. In this chapter, the financial data of Shanghai and Shenzhen A shares and non-financial listing Corporation from 2001 to 2006 is selected as the sample, the regional factor market index pronounced by Gang Fan and Xiaolu Wang is mainly selected. Empirical test results show that the Index of Regional Market of the listing corporations’registered location is significantly negatively related to Cost Stickiness, the higher the Index of Regional Market, the lower the Cost Stickiness, in contrast, the lower the Index of Regional Market, the higher the Cost Stickiness. At the same time, it is also found that the effect of the Index of Regional Market on the management Cost Stickiness is more significant than that of the sales Cost Stickiness.The sixth chapter is the empirical research on Macro Monetary Policy and Cost Stickiness based on research framework. Considering the Research framework based on macro and micro interaction which is proposed by Pingui Rao and Guohua Jiang, On the basis of Referring to the analysis view of the framework, this chapter mainly studies the impact of Macro Monetary Policy on enterprise Cost Stickiness. The study on Macro Monetary Policy in economy and Cost Stickiness in financial accounting is crossly studied, which only explains the change of Cost Stickiness using resource Adjustment Cost, but also analyzes the influence of Macro Monetary Policy on the change of Cost Stickiness. In the theoretical analysis process, it first focuses on the research results which proposed the impact of Macro Monetary Policy on the behavior of Micro Enterprise Behavior by Zhengfei Lu and JiGao Zhu and Pingui Rao and Guohua Jiang, and analyzes the influence of Macro Monetary Policy on Cost Stickiness from the microscopic level combining respectively the influence of Agency problem on Cost Stickiness with the influence of resource Adjustment Cost on Cost Stickiness. this chapter also analyzes two parallel paths, which lead to Macro Monetary Policy produce the same effect on Enterprise Cost Stickiness. In this chapter, the Quarterly financial data of Shanghai and Shenzhen A shares and non-financial listing Corporation from 2007 to 2014 is selected as the sample, the regional factor market index pronounced by Gang Fan and Xiaolu Wang is mainly selected. Empirical test results show that Macro Monetary Policy is significantly positively related to Cost Stickiness, the capital intensity of control variables and labor intensity are also significantly related to Cost Stickiness.The seventh chapter is the research conclusions, policy advice, research disadvantages and future prospects.The innovation points of this paper may be reflected in the following aspects:(1)This paper analyzes the impact of Index of Regional Market on enterprise Cost Stickiness referring to the Research framework based on macro and micro interaction which is proposed by Pingui Rao and Guohua Jiang. It firstly analyzes the impact of Macro Economic Policy on Index of Regional Market, also analyzes the impact of Index of Regional Market on resource Adjustment Cost, which is an important factor of the influence on enterprise Cost Stickiness, finally Index of Regional Market makes an affect on enterprise Cost Stickiness. The Index of Regional Market in economy and Cost Stickiness in financial accounting is combined through the research model of macro economic policy, Index of Regional Market, resource Adjustment Cost and Cost Stickiness. It not only explains the change of Cost Stickiness by resource Adjustment Cost, but also analyzes the influence of The Index of Regional Markets on enterprise Cost Stickiness, which broaden the horizon of the research on Cost Stickiness. The study on Macro Monetary Policy in economy and Cost Stickiness in financial accounting is crossly studied. it first focuses on the research results which proposed the impact of Macro Monetary Policy on the behavior of Micro Enterprise Behavior by Zhengfei Lu and JiGao Zhu and Pingui Rao and Guohua Jiang, and analyzes the influence of Macro Monetary Policy on Cost Stickiness from the microscopic level combining respectively the influence of Agency problem on Cost Stickiness with the influence of resource Adjustment Cost on Cost Stickiness. This paper mainly makes analysis through two parallel paths, one is according to the research result produced by Zhengfei Lu and JiGao Zhu, Macro Monetary Policy makes an impact on the cash level enterprises hold through Conduction mechanism, at the microscopic lever, the cash level enterprises hold is related to enterprise Agency problems which produce an important impact on enterprise Cost Stickiness; Another is according to the research result produced by Pingui Rao and Guohua Jiang, Macro Monetary Policy influences on accounting conservatism of micro enterprises, at the microscopic lever, the cleaning of idle capital meets the requirement of accounting conservatism which influences on resource Adjustment Cost, and resource Adjustment Cost is an important influence factor of enterprise Cost Stickiness, both the parallel paths leads Macro Monetary Policy to produce the same effect on Enterprise Cost Stickiness. This new research model not only helps to understand the Macro Monetary Policy, but also develops the perspective of the original Cost Stickiness study, which not only explains the changes of cost stickiness using the theories of Adjustment Cost and Agency problem, but also analyzes the impact of macro monetary policy on the change of enterprise Cost Stickiness. It is helpful to study influence factors of Cost Stickiness Comprehensively, and also proves that it is practical to use the framework studied on the relationship between Macro Monetary Policy and Micro enterprise behavior in future academic studies.(2)Studies on influence factors of domestic and foreign Cost Stickiness are mostly single factor analysis, lacking of a variety of factors to analyze at the same time, the influence factors of cost stickiness is not single to produce Cost Stickiness, in most cases, they cooperate with each other to produce Cost Stickiness. When this paper analyze the relationship between Index of Regional Market and Cost Stickiness, Macro Monetary Policy and Cost Stickiness, it also considers the influence of resources Adjustment Cost, Management Expectation, Agency problems on the cost stickiness, and considers the macro factors and micro factors Comprehensively of Cost Stickiness to strive to make a systematic analysis of the factors affecting Cost Stickiness.(3)This paper analyzes the impact of Index of Regional Market on resource Adjustment Cost, and also analyzes the different impact on variant Cost Stickiness, combining the influence of Agency problem on Cost Stickiness. It is found that the influence of the Index of Regional Market on management Cost Stickiness is more significant than sales Cost Stickiness, which provides evidence for the rationality of the proxy cost index. |
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