Cost Stickiness of Private and Public Firms

• 발행기관: 한국회계정보학회
• 저자명: Sera Choi Iny Hwang Moonyoung Lee Woo-Jong Lee
• 간행물 정보: 『한국회계정보학회 학술대회발표집』2016년 추계학술대회 발표집, 1~55쪽, 전체 55쪽
• 주제분류: 경제경영 > 회계학
• 파일형태: PDF
• 발행일자: 2016.11.12

영문 초록

This paper extends prior literature on cost behavior by providing evidence on whether and how external financing of equity affects the degree of SG&A cost stickiness. Based on a comprehensive dataset covering both public and private firms in Korea, we compare the degree of cost stickiness between public and private firms. We document that cost stickiness is in general greater in private firms than in public firms. Mediation analyses further reveal that differential financial constraints between private and public firms are mainly attributable to the difference in cost stickiness. Overall, our findings suggest that access to financing influences operations and hence cost structure of a firm.

목차

1. Introduction

2. Related literature

3. Research design

4. Results

5. Mediation analyses

6. Conclusion

References