Cost Structure and Firm Risk: Implications from Recent Theoretical and Empirical Studies
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- Shiiba Atsushi
- Graduate School of Economics, Osaka University
Bibliographic Information
- Other Title
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- コスト構造と企業リスク―近年の理論・実証研究からの示唆―
- コスト コウゾウ ト キギョウ リスク : キンネン ノ リロン ・ ジッショウ ケンキュウ カラ ノ シサ
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Abstract
<p>Firm value is determined by the future free cash flow and the discount rate that reflects the firm risks. Recent studies reveal that a firm’s cost structure is closely linked to its risk. This study discusses the association between a firm’s cost structure and risk, and highlights the importance of focusing on management incentives to examine these cost structures in management accounting. Further, I examine empirical literature on asymmetric cost behavior, especially regarding the asymmetric CVP model, in which management incentives serve as key factors in studying cost structures. Finally, I suggest that the theory of the firm as the cost function and agency-theory model should be analyzed in a unified framework.</p>
Journal
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- The Journal of Management Accounting, Japan
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The Journal of Management Accounting, Japan 24 (2), 19-32, 2016-03-31
The Japanese Association of Management Accounting
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Details 詳細情報について
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- CRID
- 1390845713074503936
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- NII Article ID
- 110010050959
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- NII Book ID
- AN10538994
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- ISSN
- 24340529
- 09187863
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- NDL BIB ID
- 027328841
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- Text Lang
- ja
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- Data Source
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- JaLC
- NDL
- NDL-Digital
- CiNii Articles
- KAKEN
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- Abstract License Flag
- Disallowed