초록 열기/닫기 버튼
제조경비 및 판매관리비의 하방경직적 원가행태를 연구한 안태식 등(2004)과 달리 최근 들어 Subramaniam and Weidenmier(2003)와 같이 비대칭적 원가행태의 존재유무에 대해 의문을 제기한 연구들이 늘어나고 있다. 따라서 본 연구는 우리나라 원가행태 선행연구들을 재검증하였으며, 당기총제조원가의 행태에 대한 분석 시에는 재고자산의 통제가 이루어져야 함을 제시하였다. 분석결과 재료비 및 당기총제조원가에 대한 분석에서 매출액이 감소할 때, 원가를 더 줄이는 하방탄력적 원가행태가 관찰되었다. 추가적으로 기존 연구에서 연도 및 산업별 통제가 이루어졌음에도 불구하고, 외환위기라는 거시적 요인이 제조원가명세서상의 원가행태에 영향을 미치고 있음을 보였다. 따라서 향후 연구에 있어 이를 고려한 기간별 분석이 이루어져야 할 것이다.
Studies on cost stickiness followed by Anderson et al.(2003) and Ahn et al.(2004) have shown results that in various cost categories such as selling, general and ad- ministrative costs and manufacturing costs, they decreased at lower rate compared to the sales change rate when sales decrease. But in this study, we investigated the effect of the economic downturn during the 1996-1999, so called ‘the IMF bailout period’ on cost behavior and found results suggesting managers make different cost-related decisions. The results of our study support the previous findings on SG&A costs and manu- facturing costs components. The results also show that material costs and manufacturing costs behave symmetrically in response to activity level changes such as sales volume changes. However, after controlling the inventory level and change, material cost and manu- facturing cost show a ‘super variability’ behavior, meaning that managers decrease material cost change and manufacturing costs change more when sales volume change decreases. Furthermore, we found that material costs and manufacturing costs decreased at higher rate compared to the sales change rate when sales decreases during the IMF bailout period. It implies that under a severe economic downturn managers decrease manufacturing costs, which is the main costs for manufacturing companies, instead of saving costs for the future performance. This also implies that even after controlling industry and year effect, still the macro factors like IMF bailout period should be carefully considered for modeling and interpretation.
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Manufacturing costs, Cost stickiness, Macro factor, Statement of Cost of goods Manufactured, Financial crisis
