基于fsQCA的企业成本粘性影响因素研究——以医药制造企业为例

Research on Factors Influencing Enterprise Cost Stickiness Based on fsQCA--A Case Study of Pharmaceutical Manufacturing Enterprises

以医药制造行业上市公司为研究对象,分析企业成本粘性的影响因素。基于组态视角,运用模糊集定性比较分析法(fsQCA),探究5个前因条件对医药制造行业上市公司成本粘性的协同联合效应,并探索形成成本粘性的路径。结果表明:资本结构、股权集中度、研发投入强度、内部控制质量、宏观经济环境不单独是影响企业成本粘性的必要条件,成本粘性是多个前因条件共同作用的结果;形成高成本粘性的路径归纳为3条:股权结构-宏观经济环境协同型、资本结构-股权结构协同型、资本结构-研发投入强度协同型;形成非高成本粘性的路径也有3条,其与存在高成本粘性的路径具有非对称性。

This study takes listed companies in pharmaceutical manufacturing industry as the research object to analyze the influencing factors of enterprise cost stickiness.Based on the perspective of configuration,fuzzy set qualitative comparative analysis(fsQCA)was used to explore the synergistic and joint effects of five antecedent conditions on the cost stickiness of listed companies in the pharmaceutical manufacturing industry,and explore the path to form cost stickiness.The results show that capital structure,ownership concentration,R&D investment intensity,internal control quality and macroeconomic environment are not the necessary conditions to affect the cost stickiness of enterprises,but the cost stickiness is the result of multiple antecedent conditions.The path of forming high cost stickiness can be summarized into three types:equity structure-macro-economic environment synergistic type,capital structure-equity structure synergistic type,and capital structure-R&D investment intensity synergistic type.There are three paths forming non-high cost viscosity,which are asymmetrical with the path with high cost viscosity.