The Effect of Strategy on the Asymmetric Cost Behavior of SG&A Expenses

被引：39

作者：

Ballas, Apostolos ^{[1
,2
]}

Naoum, Vasilios-Christos ^{[3
]}

Vlismas, Orestes ^{[2
]}

机构：

[1] Athens Univ Econ & Business, Business Anal & Valuat Lab, 76 Patission Str, GR-10434 Athens, Greece

[2] Athens Univ Econ & Business, Dept Accounting & Finance, 76 Patission Str, GR-10434 Athens, Greece

[3] Univ Piraeus, Dept Maritime Studies, Piraeus, Greece

来源：

EUROPEAN ACCOUNTING REVIEW | 2022年 / 31卷 / 02期

关键词：

Asymmetric cost behavior; Strategy; SG&A expenses; MANAGEMENT; UNCERTAINTY;

D O I：

10.1080/09638180.2020.1813601

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Asymmetric cost behavior has been attributed to deliberate managerial resource commitment decisions and a firm's strategic choices is a significant determinant of these decisions. This study investigates the effect of strategy on the intensity and direction of the asymmetric cost behavior of selling, general, and administrative (SG&A) expenses. Employing a sample of US-listed firms for the period 1991-2014, we provide empirical evidence that a firm's strategic orientation determines the direction and intensity of cost asymmetry. Firms classified as prospectors exhibit SG&A cost stickiness whereas firms classified as defenders exhibit SG&A cost anti-stickiness. Sensitivity and causality tests indicate that a firm's strategic positioning and its portfolio of intangible re-sources independently affect the resource allocation decisions that are responsible for the direction of cost asymmetry for the SG&A expenses.

引用

页码：409 / 447

页数：39