نوع مقاله : مقاله پژوهشی
نویسندگان
1 دانشگاه ایلام
2 دانشیار، گروه حسابداری، دانشکده ادبیات و علوم انسانی، دانشگاه ایلام، ایلام، ایران.
3 دانشجوی کارشناسی ارشد حسابداری مدیریت، دانشکده ادبیات و علوم انسانی، دانشگاه ایلام، ایران
چکیده
کلیدواژه‌ها
موضوعات
عنوان مقاله [English]
نویسندگان [English]
Purpose: Long-term growth expectations refer to the expected activity and company profitability. These expectations affect managers' decisions about changing resources and cost behavior. The research pourpose is to examine the capital market reaction to the cost asymmetric behavior with regard to long-term growth expectations.
Method: The research sample includes 155 firms admitted to the Tehran Stock Exchange during the period of 1394 to 1400. Multiple regression models have been used to test the hypotheses.
Results: The findings indicate that in firms with high versus low long-term grwth expectations, the degree of asymmetric behavior of the cost stickiness type is higher. Also, the findings showed that the capital market reacts negatively to unexpected cost stickiness. In addition, the negative reaction of investors to unexpected cost stickiness for a firm with high long-term growth expectations is less than that for a firm with low long-term growth expectations.
Conclusion: Managers' economic motives are one of the main drivers of asymmetric cost behavior. Firms that expect higher future growth rates tend to reduce the risk of idle capacity by increasing investment. Investors also revise their evaluations in case of an increase in unexpected cost stickiness.
Contribution: The present study contribute to the literature on management accounting and capital market research by documenting the capital market reaction to the asymmetric cost behavior, as well as a connection between the cost behavior as one of the important areas of management accounting and the investors behavior in the capital market.
کلیدواژه‌ها [English]
)