The Research On Executive Pay, Ownership Structure And Cost Stickiness In Chinese Manufactuting List Companies

Strengthening the cost control is an important part of enterprise in the management process, the traditional state into nature as the fundamental theory in management accounting, assuming that cost is linear, symmetric relationship with business, it is based on the assumption of ideal environment, but through the related domestic and foreign scholars on the cost of the study found that in reality the influence of subjective environment is not strict linear relationship between cost and volume, the volume rises in the cost of increase than in the reducing of volume fall, this kind of non proportional changes are called viscosity. This theory is put forward to further adjust the structure of corporate governance and better reduce the enterprise cost, enhance the competitiveness of enterprises.Scholars at home and abroad for viscosity analysis including the existence of the sticky cost, causes, influence of related factors and economic impact, but there are also some scholars think that the existing research cost may be overvalued. At present, the related scholars at home and abroad on the cause of cost stickiness of theoretical and empirical studies, most scholars have referred to in the study is opportunistic view, namely management through cost invasion and to realize their career and expand their own grasp of the enterprise resource prompted charges stick. And equity structure as an important part of corporate governance can cause enterprise constraint management self-interested motives and behavior, will produce inhibition to cost stickiness. The causes of principal-agent problems same as expenses viscosity has been confirmed by many scholars theoretical and empirical, this suggests that the enterprise can be used to strengthen the management of incentives to ensure the satisfactory compensation can effectively reduce the cost of principal-agent, so as to decrease cost of the degree of viscosity. So based on the research of predecessors, this article selects the manufacturing data of listed companies choose the existence of viscosity analysis cost, and from the perspective of executive pay and ownership structure research the relationship between the viscosity and cost.This article through to the Chinese and foreign literature review, first define the meaning of cost stickiness, combing the relevant theoretical basis, the topic of research. Secondly combining the principal-agent theory and the theory of corporate governance leads to relief of agency problem, corporate governance is put forward from the aspects of executive pay and ownership structure research relevant assumptions. By selecting the data from 2010-2014 manufacturing listed companies, using excel 2007 and spss 13.0, counter tube cost and cost of goods sold at the same time, related Suggestions are put forward.In this paper, the following conclusions: listed companies in our country manufacturing industry plays a significant role in the cost of sales and management cost of the sticky characteristic; Executive pay, ownership concentration and equity balance degree and pin tube charge there is an obvious negative correlation, the executive incentive and can to a certain extent, improve the equity concentration, better inhibiting management opportunism, in cost management to reduce costs viscosity; Our country state-owned enterprise cost stickiness degree than non-state-owned enterprises.