Research On The Effect Of Relational Trading On Cost Stickiness

Enterprises are profit-oriented organizations.Cost management,as one of the core business activities,has a direct impact on enterprise costs and economic benefits.Both theoretical and practical circles attach great importance to cost.Under the influence of the changing business environment and other objective factors,the cost stickiness and the business volume have asymmetrical linear relationship,which can fully reflect the changes in the cost of the enterprise.In China,which is in the process of economic transformation,the market cannot immediately reflect business reputation,and enterprises prefer to establish relational transactions to reduce the high transaction costs caused by imperfect external markets.The resulting customer concentration has both positive and negative impacts on corporate finance,and which kind of role it plays in cost behavior,is a vital issue that companies should pay attention to.Therefore,it won't reflect the cost structure perfectly if just study from the internal financial situation,from the visual angles of business relationship could be more comprehensive understanding of enterprise cost stickiness,to break from the inherent limitations of internal inquiry only.Agriculture as the basic industry,agricultural listed companies have faced diversified business risks caused by weather factors and agricultural characteristics.Studying the cost stickiness changes with superimposing customers' concentrated risks provides new ideas for agricultural enterprise managers' cost management.Master the cost law and conduct cost management more accurately.Based on the China's "relational society",this paper analyzes the impact of customer concentration on the cost stickiness of agricultural listed companies based on commercial relationships.Taking the A-share listed companies in Shanghai and Shenzhen Stock Exchanges from 2008 to 2017 as samples,and considering the characteristics of agricultural enterprises,the nature of enterprise property right,the property right attribute of the largest customer and the areas,the specific influence of customer concentration on the cost stickiness of agricultural listed companies was investigated by establishing models.Through theoretical analysis and practical test,we found that(1)Compared with non-agricultural listed companies,agricultural listed companies are more cost-effective,and their cost stickiness has a U-shaped relationship with customer concentration.(2)Compared with non-agricultural listed companies,customer concentration has a stronger negative correlation effect on the cost stickiness of agricultural listed companies.(3)Further research according to the nature of ownership among different enterprises found that the U-shaped relationship only exists in state-owned enterprises;in private enterprises,customer concentration just weaken cost stickiness.The above U-type relationship exists only in state-owned enterprises.In private enterprises,customer concentration only weakens cost stickiness.In addition,only private agricultural listed companies have cost stickiness,while state-owned agricultural listed companies do not have this problem.