TALEP BELİRSİZLİĞİNİN TÜRK İMALAT FİRMALARININ MALİYET YAPISI ÜZERİNDEKİ ETKİSİ

Maliyet katılığı işletmelerin sabit maliyetlerinin değişken maliyetlerine oranı olarak tanımlanan maliyet yapısının özelliğini betimlemektedir. İşletmelerin sabit maliyetlerinin oranının, değişken maliyetlerinden daha yüksek olması durumunda katı bir maliyet yapısından söz edilir. Bu çalışmada, Türkiye’de 1995-2014 döneminde faaliyet gösteren halka açık imalat firmalarının, faaliyet giderlerinin yapısı “maliyet katılığı” kavramı açısından incelenmektedir. Analizlerde net satışların standart sapması ile hesaplanan talep belirsizliğinin, faaliyet giderlerinin maliyet yapısı üzerine olan etkisi de ayrıca test edilmiştir. Analiz sonuçlarına göre maliyet yapısı içerisinde sabit maliyetlerin oranının artmasının ya da daha katı maliyet yapısının, imalat firmaları için daha fazla talep belirsizliği kaynaklı olduğu tespit edilmiştir. Bu sonuç, firmaların belirsizliklerle karşı karşıya kaldıkları durumda sabit maliyetlerini düşürme eğiliminde olduklarını ifade eden genel teorik beklentiyle çelişmektedir.

EFFECT OF DEMAND UNCERTAINTY ON COST STRUCTURE OF TURKISH MANUFACTURING FIRMS

Cost rigidity defines the characteristics of cost structure which is defined as the proportion of fixed costs tovariable costs of firms. When the proportion of fixed costs are higher than the variable costs, then the coststructure is defined as a rigid cost structure. The structure of operating costs of Turkish manufacturing firmsbetween years 1995 and 2014 is tested in terms of their “rigidity” in this paper. Moreover, the effect ofdemand uncertainty, as measured by the standard deviation of net sales, on the cost structure of operatingcosts is also tested. Findings support that higher levels of demand uncertainty are associated with higherportions of fixed costs in the cost structure (i.e., more rigid cost structure). That result contradicts the commonwisdom that firms tend to lower the fixed costs in their cost structure as they are confronted with uncertainty.

PDF

___

Abdulhamied, A. A. and Abulezz, M. E. (2012). An Empirical Investigation of the Effect of Cost Structure and Demand Uncertainty on SA&G Cost Stickiness. Islamic Business Researches Center.
Anderson, M. C., Banker, R. D. and Janakiraman, S. N. (2003). Are Selling, General and Administrative Costs ‘‘Sticky’’? Journal of Accounting Research, 41(1), 47–63.
Anderson, M. C., Lee, J. H. and Mashruwala, R. (2016). Cost Stickiness and Cost Inertia: A TwoDriver Model of Asymmetric Cost Behavior. Working Paper, doi: http://dx.doi.org/10.2139/ssrn.2599108
Atasoy, H., Banker, R. D. and Byzalov, D. (2014). Production Outsourcing and Demand Uncertainty. Available at: http://dx.doi.org/10.2139/ssrn.2647114
Balakrishnan, R. and Gruca. T. (2008). Cost stickiness and Core Competency: A Note. Contemporary Accounting Research, 25(4), 993–1006.
Baltagi, B. (2005). Econometric Analysis of Panel Data. John Wiley & Sons.
Banker, R. D., Basu, S., Byzalov, D. and Chen, J. Y. (2016). The Confounding Effect of Cost Stickiness on Conservatism Estimates. Journal of Accounting and Economics, 61(1), 203-220.
Banker, R. and Byzalov. D. (2014). Asymmetric Cost Behavior. Journal of Management Accounting Research, 26(2), 43-79.
Banker, R. D., Byzalov, D. and Plehn-Dujowich, J. M. (2014). Demand Uncertainty and Cost Behavior. The Accounting Review, 89(3), 839–865.
Banker, R. D. and Johnston, H. H. (1993). An Empirical Study of Cost Drivers in the US Airline Industry. Accounting Review, 68(3), 576-601.
Calleja, K., Steliaros, M. and Thomas, D. C. (2006). A Note on Cost Stickiness: Some International Comparisons. Management Accounting Research, 17(2), 127-140.
Cheng, S., Jiang, W. and Zeng, Y. (2018). Does Access to Capital Affect Cost Stickiness? Evidence from China. Asia-Pacific Journal of Accounting & Economics, 25 (1-2), 177-198.
Cohen, S., Karatzimas, S. and Naoum, V. C. (2017). The Sticky Cost Phenomenon at the Local Government Level: Empirical Evidence from Greece. Journal of Applied Accounting Research, 18(4), 445-463.
Fanti, L. and Meccheri, N. (2017). A Note on Managerial Delegation with Asymmetric and Convex Costs. Managerial and Decision Economics, 38 (3), 279-284.
Hartlieb, S. and Loy, T. R. (2017). Evidence on the Trade-off between Cost Stickiness and Income Smoothing. AAA 2017 Management Accounting Section (MAS) Meeting. Available at: http://dx.doi.org/10.2139/ssrn.2814309
Holzhacker, M., Krishnan, R. and Mahlendorf, M. D. (2015). Unraveling the Black Box of Cost Behavior: An Empirical Investigation of Risk Drivers, Managerial Resource Procurement, and Cost Elasticity. The Accounting Review, 90(6), 2305-2335.
Homburg, C., Hoppe, A., Nasev, J., Reimer, K. and Uhrig-Homburg, M. (2018). How Cost Stickiness Affects Credit Risk. Working Paper, Available At: https://ssrn.com/abstract=3232822
Horngren, C. T., Datar, S. M. and Rajan, M. V. (2012). Cost Accounting: A Managerial Emphasis (14th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.
Irvine, P. J., Park, S. S. and Yıldızhan, Ç. (2016). Customer-Base Concentration, Profitability, and the Relationship Life Cycle. The Accounting Review, 91(3), 883-906.
Ibrahim, A. E. A. (2015). Economic Growth and Cost Stickiness: Evidence from Egypt. Journal of Financial Reporting and Accounting, 13(1), 119-140.
Kallapur, S. and Eldenburg, L. (2005). Uncertainty, Real Options, and Cost Behavior: Evidence from Washington State Hospitals. Journal of Accounting Research, 43(5), 735–752.
Koo, J. H., Song, S., and Paik, T. Y. (2015). Earning Management and Cost Stickiness. Advanced Science and Technology Letters, 84, 40-44.
Lee, J. H. (2018). Empirical Analysis of Asymmetric Cost Behavior (Doctoral dissertation). University of Calgary, Calgary, Canada.
Lee, J. Z. and Chiang, C. H. (2018). D&O Insurance and SG&A Cost Stickiness. Working Paper, Available At: http://dx.doi.org/10.2139/ssrn.3234103
Li, W. L. and Zheng, K. (2017). Product Market Competition and Cost Stickiness. Review of Quantitative Finance and Accounting, 49 (2), 283-313.
Liu, Y. and Lahiri, S. (2015). The Role of Foreign Competition and Cost Asymmetry in Partial Privatization. Working Paper, Available At: http://dx.doi.org/10.2139/ssrn.2691204.
Noreen, E. and Soderstrom, N. (1994). Are Overhead Costs Strictly Proportional to Activity? Evidence from Hospital Departments. Journal of Accounting and Economics, 17(1), 255- 278.
Noreen, E. and Soderstrom, N. (1997). The Accuracy of Proportional Cost Models: Evidence from Hospital Service Departments. Review of Accounting Studies 2(1), 89-114.