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Does Social Capital Affect Asymmetric Cost Behaviour? : Evidence from U.S. Counties

Titelangaben

Hartlieb, Sven ; Eierle, Brigitte ; Loy, Thomas:
Does Social Capital Affect Asymmetric Cost Behaviour? : Evidence from U.S. Counties.
Bamberg ; Bayreuth , 2017 . - 41 S.

Volltext

Link zum Volltext (externe URL): Volltext

Abstract

In this study, we examine the impact of social capital on asymmetric cost behaviour. Social capital captures the strength of civic norms and the density of social networks in a region. As such, it is a socio-economic factor that might affect managerial resource adjustment decisions via different channels. Social capital contributes to stable employment relationships and optimistic behaviour, but restrains managers from acting opportunistically. Using a sample of 65,148 firm-year observations across 788 U.S. counties, we find that firms headquartered in U.S. counties with high social capital exhibit significantly less asymmetric cost behaviour. Apparently, social capital restrains managers from taking self-centred resource adjustment decisions that would induce cost stickiness. This is in line with our additional finding, that altruistic norms to act in an ethical manner are the dominant channel for our setting, by which social capital affects cost behaviour. Our results corroborate the important role of managerial discretion in cost behaviour and make a significant contribution in understanding how environmental, local factors explain differences in sticky cost behaviour across firms within the same jurisdiction and the same cultural framework.

Weitere Angaben

Publikationsform: Preprint, Postprint, Working paper, Diskussionspapier
Keywords: Cost Behaviour; Cost Stickiness; Social Capital; Norms; Managerial Opportunism
Fachklassifikationen: JEL: A13, M14, M40, M41
Institutionen der Universität: Fakultäten > Rechts- und Wirtschaftswissenschaftliche Fakultät > Fachgruppe Betriebswirtschaftslehre > Juniorprofessur Wirtschaftsprüfung > Juniorprofessur Wirtschaftsprüfung - Juniorprof. Dr. Thomas Loy
Profilfelder > Emerging Fields > Governance and Responsibility
Fakultäten
Fakultäten > Rechts- und Wirtschaftswissenschaftliche Fakultät
Fakultäten > Rechts- und Wirtschaftswissenschaftliche Fakultät > Fachgruppe Betriebswirtschaftslehre
Fakultäten > Rechts- und Wirtschaftswissenschaftliche Fakultät > Fachgruppe Betriebswirtschaftslehre > Juniorprofessur Wirtschaftsprüfung
Profilfelder
Profilfelder > Emerging Fields
Titel an der UBT entstanden: Ja
Themengebiete aus DDC: 300 Sozialwissenschaften > 330 Wirtschaft
Eingestellt am: 15 Aug 2017 05:31
Letzte Änderung: 15 Aug 2017 05:31
URI: https://eref.uni-bayreuth.de/id/eprint/39107