Research On The R&D Investment On Cost Stickiness In The Background Of Senior Management

The traditional cost habit theory assumes that the cost changes mechanically symmetrically only as the volume of business changes.However,many scholars have found that the actual performance of the actual production of enterprises is that the increase of income by 1% causes the cost increase to be higher than the 0.2% of the cost reduction caused by the 1% decrease in the same proportion of income.This phenomenon of asymmetry between cost and business volume is officially referred to as the "stickiness" phenomenon.Domestic and foreign scholars have studied the causes of cost stickiness from the aspects of adjusting cost and manager's psychology and behavior.This research is of great significance for enterprises to carry out effective cost management and optimize the recruitment and evaluation system of enterprise managers.On the basis of summarizing and mastering the latest research results,this paper summarizes the impact of economic factors such as efficiency concept,contract view and opportunism on cost stickiness.Under the guidance of basic theories such as new economic growth,the status quo of high-tech enterprises' R&D investment and cost stickiness are further analyzed.As a driving force for high-tech enterprises to maintain their core competitiveness,R&D investment can help enterprises open new markets and create profits.Research and development activities have the characteristics of large investment,long cycle,and difficult adjustment,resulting in higher adjustment costs.At the same time,the high-yield and high-yield characteristics of high-tech enterprises strengthen managers' optimistic expectations for the future.Therefore,this paper studies the impact of R&D investment on cost stickiness based on the theory of new economic growth and the theory of managerial optimistic expectations.In the actual economic life,managers with different background characteristics will adopt different and even distinct actions when making strategic decisions of enterprises,which will have different effects on the cost stickiness of enterprises.This paper explores the regulatory role of executive background on the relationship between R&D investment and cost stickiness from two aspects: executive technical background and political context.Descriptive statistical analysis and regression analysis were conducted for 854 high-tech listed companies from 1854 samples from 2012 to 2016.The study found that R&D investment strengthens the cost viscous phenomenon of enterprises,and when executives have professional technical background or political background The phenomenon is more significant.Based on this proposal: enterprises should strengthen the effectiveness of R&D investment,improve the comprehensive management level of professional and technical background executives,and maintain appropriate and effective embedding of political connections.At the same time,the government should strengthen guidance and supervision,and do a good job in the accurate identification and accurate assistance of enterprise R&D projects.The innovations of this paper are as follows: First,the empirical research shows that the cost of China's high-tech listed companies is 0.095%;secondly,the study of the relationship between R&D investment and cost stickiness transitions to the introduction of non-economic factors.The tube background is studied as a regulatory variable.After analysis,the mechanism of the relationship between the R&D investment and the cost-effectiveness of the executive background is analyzed.The executives with professional technical background and political background will further influence the adjustment cost of the R&D investment and the manager.The expectation of future market returns,in turn,affects the relationship between R&D investment and corporate cost stickiness.