管理者自信程度、两权分离度对成本粘性的影响研究

文章以2011—2018年沪深两市A股3135家上市公司为研究样本,基于上市公司实际控制权与现金流分红权分离与否的视角,探讨了管理者自信程度对企业成本粘性在两权分离度不同情况下的影响.结果表明:管理者自信程度与企业成本粘性正相关;相较于实际控制权与现金流分红权不相分离的企业,两权分离度促进了管理者自信程度对成本粘性的正...

Study on the Influence of Managers'confidence degree on cost stickiness--Analysis based on the separation of two rights

This paper takes 4642 unbalanced panel data from 1862 A-shares listed companies in Shanghai and Shenzhen stock Exchanges from 2011 to 2018 as research samples.Based on the perspective of whether the actual control right of listed companies is separated from the red right of cash flow,this paper discusses the influence of managers'confidence degree on the cost viscosity of enterprises under different separation degrees of two rights.The results show that:Managers'confidence is positively correlated with cost stickiness;Compared with enterprises where actual control right and cash flow right are not separated,the degree of separation of the two rights promotes the positive influence of confidence degree on the internal cost stickness of the company.The results of this study expand the relevant studies on the factors affecting the stickiness of costs,which have certain reference significance for managers to make enterprise cost decisions,and can also provide reference for shareholders and external regulatory departments of listed companies.