Empirical Study On The Relationship Between Cost Stickiness And Firm Performance From The Perspective Of Economic Cycle

With the increasing downward pressure of China’s macro economy,many industries have gradually entered the era of high cost,which is particularly evident in the automobile manufacturing industry.Faced with shrinking profit space and increasing cost pressure,cost management is of great significance to improve the competitiveness of automobile manufacturing industry and achieve the goal of "made in China 2025".In the actual production process of enterprises,the existence of cost stickiness objectively requires people to understand the law of cost change from a new perspective in practice,and macroeconomic fluctuation is an important factor affecting the production and operation activities of enterprises.Therefore,it has important theoretical significance and practical value to study the influence of cost stickiness on enterprise performance from the perspective of economic cycle.Based on the former relevant cost based on the study of the viscosity of the comb,on the basis of summarizing the related literature at home and abroad,first of all,analyze the current situation of the development of auto industry,selecting Shanghai and shenzhen A shares in 2003-2017 data of automobile manufacturing enterprises as samples,according to the related theory on the basis of ABJ model to verify the automobile manufacturing enterprises is indeed cost viscous phenomenon.Then the economic cycle is divided into the rising period and the descending period.It is found that the level of cost stickiness of automobile manufacturing enterprises in different economic cycles is different.On the basis of WEISS model at the enterprise level,regression analysis is carried out through the model from the perspective of economic cycle to further study the positive and negative correlation between cost stickiness and the long-term and short-term performance of enterprises and the existence of cost stickiness.Finally,through the analysis and research results to provide policy recommendations conducive to the development of enterprises,enterprises can better understand and improve the degree of cost stickiness,improve the competitiveness of automobile manufacturing enterprises.The main conclusions of this paper through empirical research are as follows:(1)there is cost stickiness in automobile manufacturing enterprises,which supports the previous conclusion that there is cost stickiness in China’s manufacturing enterprises,and the level of cost stickiness is different in different economic cycles.(2)in both the upturn and downturn of the economy,there is a negative correlation between the cost stickiness of automobile manufacturing enterprises and their short-term performance,but it is not significant.(3)in the macroeconomic downturn,the cost stickiness of automobile manufacturing enterprises is positively correlated with their long-term performance,which is significant.