中国企业成本粘性的动因和后果研究：基于地区分权竞争视角的探索

Cost management is an important issue in financial accounting and corporate finance fields. Based on the background of excess manufacturing capacity and high level of cost stickiness, this project focuses on the effects of regional decentralization competition, which is a long-term, stable and macro institutional arrangement in China. The project tries to make reference to the existing literature and theory, and use methods of empirical research and field research to study the relationship between regional decentralization competition and cost stickiness. The project focuses on the following five levels of problems: (1) How do we define and measure regional decentralization competition and cost stickiness? (2) What is the theoretical framework of the effects of regional decentralization competition on cost stickiness? (3) What are the effects of goals of regional decentralization competition on cost stickiness? (4) What are the effects of means of regional decentralization competition on cost stickiness? (5) What are the consequences of regional decentralization competition and cost stickiness? This project can not only help to promote the study of determinates and consequences of cost stickiness theoretically, but also can enrich the consequences of regional decentralization competition in firm level. In addition, this project might provide theoretical supports and inspirations for incentive design of regional governments, management efficiency of firms and governance of excess manufacturing capacity.

企业的成本管理是财务会计和公司治理领域的重大问题。本课题基于我国产能过剩和成本粘性高企的现实背景，从地区分权竞争这一我国背景下长期、稳定和上游的宏观制度安排入手，对企业成本粘性的动因和后果展开探索。在归纳整理国内外已有文献和理论的基础上，运用大样本实证和实地访谈等方法，对地区分权竞争与企业成本粘性的关系进行系统性的分析和检验。课题拟围绕以下五个方面的问题展开：（1）地区分权竞争与企业成本粘性的概念和度量如何界定？（2）地区分权竞争影响企业成本粘性及后果的理论框架如何构建？（3）地区分权竞争的目标如何影响企业成本粘性？（4）地区分权竞争的手段如何影响企业成本粘性？（5）以上影响的进一步后果是什么？本课题的开展将从宏观制度安排角度大大推进企业成本粘性动因和后果的探索，丰富分权竞争对企业行为影响的研究，并为地方政府激励设计、企业管理效率提升、产能过剩治理等现实问题提供一定的理论支持和政策启发。

企业成本管理是财务会计和公司治理领域的重大问题。本课题基于我国产能过剩和成本粘性高企的现实背景，从地区差异和竞争这一我国背景下长期、稳定和上游的宏观制度安排入手，对企业成本决策的动因和后果展开探索。在归纳整理国内外已有文献和理论的基础上，运用大样本实证等方法，对宏观政策及地方政府行为对微观企业成本决策进行系统性的分析和检验。研究显示：（一）宏观经济形势对企业成本行为具有重要影响，经济政策不确定性会强化成本粘性，政策不确定性越高，企业的成本粘性越大；（二）宏观税收政策对企业成本行为具有重要影响，工资税收政策的变化会显著强化企业的劳动成本粘性；（三）地区要素市场、金融市场分割及打破会影响企业的成本行为。地区间基础设施建设及金融发展会通过调整成本降低、代理问题减少等渠道，提高企业的成本管理效率，降低成本粘性；（四）地区金融市场分割及打破会影响企业的投资、融资及成本行为。课题组按照项目计划完成研究，取得多方面丰富的研究成果。课题组发表成果37项，包括中文期刊论文24项，英文论文13项。本课题的开展丰富了地方政府行为及政策对微观企业行为影响的研究，拓展了企业成本管理动因和后果的研究，为地区经济增长、产能过剩治理以及资本市场资源配置效率提升提供启发。