Does Cost Behavior Vary with Institutional Ownership: Evidence from Egypt | ||
| المجلة العلمية للبحوث التجارية (جامعة المنوفية) | ||
| Articles in Press, Accepted Manuscript, Available Online from 03 September 2024 | ||
| Document Type: المقالة الأصلية | ||
| DOI: 10.21608/sjsc.2024.312491.1491 | ||
| Authors | ||
| ابراهيم عبد المجيد القليطى1; محمدابراهيم الميهي* 2; نسرين المليح3 | ||
| 1وكيل كلية التجارة لشؤون التعليم و الطلاب | ||
| 2كلية التجارة جامعة المنوفية | ||
| 3کلية التجارة جامعة المنوفية | ||
| Abstract | ||
| Purpose: The objective of this study is to investigate the impact of institutional ownership structure as an internal corporate governance mechanism on the behavior of SG&A costs and COGS in in companies listed on the Egyptian Stock Exchange (ESE), with the moderating effect of firm size, industry type, return on assets (ROA), Leverage, Tobin's Q, and market-to-book value (MTB). Design/methodology: The study was conducted on a sample consisting of 55 firms listed in the Egyptian Stock Exchange (ESE) belonging to Seven sectors which are basic resources, Healthcare and Pharmaceuticals, Services, Manufacturing products, and cars, real state, travel & leisure, and food, beverages, & tobacco during the period from 2018 to 2022 with a total of (275) observations. In order to evaluate the study hypotheses, the study used the generalized least squares (GLS) method instead of the ordinary least square (OLS) method to overcome the problems of both heteroskedasticity and the normality of residuals. The study also conducted an additional analysis to examine the behavior of SG&A and COGS in the sample. Findings: The study concluded that there was an impact of institutional ownership structure of the behavior of SG&A costs and COGS. In more detail, Analysis show that institutional ownership reduces the degree of both SG&A costs and COGS anti-stickiness behavior in the sample. Moreover, findings show that the behavior of SG&A costs and COGS are anti-stickiness in the sample. | ||
| Keywords | ||
| cost behavior; sticky cost; agency theory; corporate governance; institutional ownership | ||
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