Abstract:
Studies on cost stickiness help reveal the “black box” of firm cost management. In this paper, we examine whether and how customer concentration affect firm cost management from cost stickiness. The results show that, there a U type of nonlinear relation between customer concentration and cost stickiness, and this relation only exists in private firms, there is no effect of customer concentration on cost stickiness in SOEs. Further evidence shows that, the negative relation between proportion of sales from the largest customer and cost stickiness is stronger when the largest customer is private. The paper not only contributes to the literature on economic consequences of customer concentration from financial accounting and corporate finance, but also provides insight on the studies of cost management from supply chain management.
江伟, 底璐璐, 姚文韬. 客户集中度与企业成本粘性——来自中国制造业上市公司的经验证据[J]. 金融研究, 2017, 447(9): 192-206.
JIANG Wei, DI Lulu, YAO Wentao. Customer Concentration and Firm Cost Stickiness: Evidence from Chinese Listed Companies in Manufacturing Industry. Journal of Financial Research, 2017, 447(9): 192-206.
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