中小板企业生命周期对管理费用粘性的影响

The Influence of Enterprise Life Cycle on Administrative Cost Stickiness at Companies of SME Board

文章将现有的成本费用粘性理论与企业生命周期理论相结合,通过对中小板上市公司2010-2017年的财务数据的实证检验发现,我国中小板上市公司管理费用粘性是客观存在的,并且中小板企业在生命周期各个阶段受不同的影响因素作用所展现出的管理费用粘性程度存在差异。从而证明了在宏观经济环境因素和企业内部环境因素的作用下,企业会自主调控资源配置计划,而这种资源配置计划会对企业表现出的管理费用粘性行为造成影响。研究结果从管理费用粘性角度为企业成本控制,及企业战略性预算等方面提供一定的参考。

Combining the cost stickiness theory and the enterprise life cycle theory, it is found that the stickiness of management costs of the SME Board listed companies in China has objectiveness, and the SME Board enterprises have different levels of stickiness in their management costs due to different influence factors at various stages of their life cycle through the empirical test of the financial data of the SME Board listed companies from 2010 to 2017. This article fully validates the hypothesis of the relationship between management costs stickiness and the three factors of the company life cycle affecting factors, such as the ratio of intangible assets, cash flow, and asset growth rate. Under the influence of macroeconomic environmental factors and enterprise internal environmental factors, it is also proved that the company will autonomously regulate the allocation plan of resources, and this kind of resource allocation plan will affect the stickiness behavior of the management costs that the company displays. From the perspective of management cost stickiness, the research results provide some reference for corporate cost control and enterprise strategic budget.