會計評論  2021/01
會計評論第七十二期 (Vol.72)     83-117
DOI:DOI: 10.6552/JOAR.202101_(72).0003  
公司策略與成本僵固性:高階經理人過度自信之調節角色  
Competitive Strategy and Cost Stickiness: The Moderating Role of Managerial Overconfidence
朱炫璉 / 國立臺北大學會計學系
Hsuan-Lien Chu, Department of Accountancy, National Taipei University

葉淑玲 / 國立臺北大學會計學系
Shu-Ling Yeh, Department of Accountancy, National Taipei University

楊婷雯 / 資誠聯合會計師事務所
Ting-Wen Yang, PricewaterhouseCoopers Taiwan

中文摘要
本研究主要探討高階管理者過度自信特質對企業競爭策略與成本僵固性關聯性之調節效果。實證結果顯示,與過去文獻一致,我國存在銷管費用僵固性的現象,且採取差異化策略之企業因資源調整成本較高,成本僵固性的現象大於採取成本領導之企業。因此,本研究進一步探討於其他條件不變之情況下,有過度自信特質之高階管理者是否會增強差異化策略企業之成本僵固性程度,實證結果支持本研究假說,亦即擁有過度自信特質之管理者相較於成本領導策略企業,會增強差異化策略企業之成本僵固程度。本研究另以不同之企業策略衡量方式及考量控制變數之相關性等敏感度分析,來探討高階經理人過度自信對企業競爭策略與成本僵固性關聯性之影響,分析結果仍支持本研究假說。本研究藉由探討高階主管特質如何影響企業策略及成本僵固性之關聯性,增加成本管理之相關文獻。
中文關鍵字成本僵固性;企業競爭策略;過度自信

英文摘要
This paper explores the moderating effect of managers' overconfidence on the relationship between competitive strategies and SG&A cost stickiness. A sample of firms listed on the TSE and OTC over the period, between 2009 and 2016, was selected for this study. The empirical results show that companies adopting the differentiation strategy have higher resource adjustment costs and cost stickiness than companies adopting the cost leadership strategy conclusions consistent with prior literature. The findings, in support of our hypothesis, indicate that differentiators with overconfident managers exhibit greater cost stickiness in comparison with cost leaders with overconfident managers. To test our hypothesis in a robust manner, we use different measures as alternative components of the corporate strategy based on prior studies and also consider the correlation between control variables. As a result, the hypothesis was found supported. We contribute to cost management literature by presenting an alternative view to understand how CEOs’ personal characteristics influence the relationship between competitive strategies and cost stickiness.
英文關鍵字Competitive strategy;Overconfidence;Cost stickiness