Cost stickiness and firm value

Simple item page
dc.citation.issue2
dc.citation.volume34
dc.contributor.authorCosta MD
dc.contributor.authorHabib A
dc.contributor.editorVerbeeten F
dc.date.accessioned2024-05-20T03:26:10Z
dc.date.available2024-05-20T03:26:10Z
dc.date.issued2023-08-14
dc.description.abstractIn this paper we explore the association between cost stickiness and firm value. Using a large sample of U.S. data, we find a robust negative relationship between cost stickiness and firm value. We then explore whether the resource adjustment, managerial expectations, and agency theories of cost stickiness affect the negative relation and find support for the managerial expectation and agency theories. Furthermore, we find evidence that the detrimental impact of cost stickiness on firm value is mediated partially through the cost of equity and cash flow channels. Further investigation suggests that the adverse effects of cost stickiness on firm value is stronger in the presence of high information asymmetry. We enrich the cost management literature by integrating cost stickiness with corporate finance.
dc.description.confidentialfalse
dc.edition.editionJune 2023
dc.format.pagination235-273
dc.identifier.citationCosta MD, Habib A. (2023). Cost stickiness and firm value. Journal of Management Control. 34. 2. (pp. 235-273).
dc.identifier.doi10.1007/s00187-023-00356-z
dc.identifier.eissn2191-477X
dc.identifier.elements-typejournal-article
dc.identifier.issn2191-4761
dc.identifier.piis00187-023-00356-z
dc.identifier.urihttps://mro.massey.ac.nz/handle/10179/69614
dc.languageEnglish
dc.publisherSpringer-Verlag GmbH
dc.publisher.urihttps://link.springer.com/article/10.1007/s00187-023-00356-z
dc.relation.isPartOfJournal of Management Control
dc.rights(c) 2023 The Author/s
dc.rightsCC BY 4.0
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectCost stickiness
dc.subjectFirm value
dc.subjectAgency problem
dc.subjectCost of equity
dc.subjectCash flow
dc.titleCost stickiness and firm value
dc.typeJournal article
pubs.elements-id479908
pubs.organisational-groupOther
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Published version.pdf
Size:
1.03 MB
Format:
Adobe Portable Document Format
Description:
479908 PDF.pdf
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
9.22 KB
Format:
Plain Text
Description:
Download
Collections
Journal Articles