Research On The Influence Of Resource Concentration On Enterprise Cost Stickiness

With the economic development entering the "new normal",the general policy of China's economic work emphasizes that strengthening the quality of supply has become the primary goal of developing a modern economy.And the five major tasks of the supply-side structural reform are cutting overcapacity,destocking,deleveraging,reducing costs and identifying growth areas,which is the macro-level resource allocation adjustment.Cost management,as one of the main tasks of supply-side structural reform,can not be underestimated to the production and operation of enterprises.The cost stickiness caused by cost management decisions refers to the asymmetry in which the increase in cost when the volume of business increases is greater than the extent of the reduction when the volume of business decreases.It reveals the asymmetry between cost and business volume,explaining the objective existence of the surplus resources of the enterprise.Therefore,studying the cost stickiness from the perspective of cost nature is of great significance to enterprises cost management.In addition,the development of management and information technology have prompted enterprises to change their traditional methods of resource management.And it can promote the centralization of resource allocation,which can effectively reduce the redundancy,bureaucracy and loss of scale benefits caused by the decentralized allocation of resources,thereby improving enterprises cost management and reduces the cost stickiness.Firstly,this thesis reviews and summarizes the literature on resource allocation and cost stickiness at home and abroad.Secondly,this thesis uses resource allocation theory,transaction cost theory,efficiency theory and principal-agent theory to analyze the mechanism of the impact of centralized resource allocation on cost stickiness and put forward the research hypothesis.Thirdly,based on the normative research,this thesis uses the fixed-effects model to conduct a multivariate regression analysis of 18,222 sample observation data of 2,607 listed companies in China's 2008-2017 Ashares.The research results show that the cost stickiness phenomenon is common in listed companies.At the organizational resource level,centralized strategy and financial resource concentration will increase cost stickiness,while management power concentration will reduce cost stickiness;at the supply chain resource level,both supplier concentration and customer concentration can reduce the cost stickiness.And this thesis explores the role path of resource concentration affecting cost stickiness from perspectives of adjustment cost,manager's optimistic expectation and agency problem.Fourthly,this thesis further analyzes the change of resource organization form impacts the relationship between resource concentration and cost stickiness.The development of management and information technology has prompted enterprises to enhance the centralized allocation of resources,further affecting the cost stickiness.Finally,this thesis points out the future research direction and puts forward specific policy recommendations based on the above research conclusions.The main contributions of this thesis are as follows: Firstly,this thesis studies the impact of centralized allocation of enterprise resources on cost stickiness from the perspective of cost essence,which helps people to understand the driving factors of cost stickiness and scientifically make resource allocation decisions;secondly,this thesis introduces the exogenous impact of resource organization transformation,which helps managers improve their resource management methods and improve the efficiency of enterprise resource allocation.