Cost Stickiness, Ownership Concentration and Enterprise Risk—Empirical Evidence from Chinese Listed Manufacturing Companies

摘要

This paper examined the impact of cost stickiness on company risk by using the data of listed manufacturing companies of Chinese A-share market from 2008 to 2015. The research shows that the cost stickiness significantly increases the risk level of companies. Ownership concentration, as the core content of corporate governance, would impact the relationship between cost stickiness and company risk level: when the ownership concentration is higher, the impact of cost stickiness on company risk is greater.