Asymmetric Costs in Argentinian Businesses: Model Analysis

The first three sections of this research are based on the work of Banker and Bysalov (2014). Even though the chronological order of the topics was maintained, the internal structure of each section was changed and some explanations were added in order to enhance the readers’ understanding. The refe...

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Detalles Bibliográficos
Autor principal: Barbero, Maciel
Formato: Artículo revista
Lenguaje:Español
Publicado: Ediciones UNL 2020
Materias:
asymmetric costs
management decisions
resources adjustment
costos asimétricos
decisiones gerenciales
ajuste de recursos
Acceso en línea:https://bibliotecavirtual.unl.edu.ar/publicaciones/index.php/CE/article/view/9274
Aporte de:
Biblioteca Virtual - Publicaciones (UNL) de Universidad Nacional del Litoral
id I26-R133-article-9274
record_format ojs
institution Universidad Nacional del Litoral
institution_str I-26
repository_str R-133
container_title_str Biblioteca Virtual - Publicaciones (UNL)
language Español
format Artículo revista
topic asymmetric costs
management decisions
resources adjustment
costos asimétricos
decisiones gerenciales
ajuste de recursos
spellingShingle asymmetric costs
management decisions
resources adjustment
costos asimétricos
decisiones gerenciales
ajuste de recursos
Barbero, Maciel
Asymmetric Costs in Argentinian Businesses: Model Analysis
topic_facet asymmetric costs
management decisions
resources adjustment
costos asimétricos
decisiones gerenciales
ajuste de recursos
author Barbero, Maciel
author_facet Barbero, Maciel
author_sort Barbero, Maciel
title Asymmetric Costs in Argentinian Businesses: Model Analysis
title_short Asymmetric Costs in Argentinian Businesses: Model Analysis
title_full Asymmetric Costs in Argentinian Businesses: Model Analysis
title_fullStr Asymmetric Costs in Argentinian Businesses: Model Analysis
title_full_unstemmed Asymmetric Costs in Argentinian Businesses: Model Analysis
title_sort asymmetric costs in argentinian businesses: model analysis
description The first three sections of this research are based on the work of Banker and Bysalov (2014). Even though the chronological order of the topics was maintained, the internal structure of each section was changed and some explanations were added in order to enhance the readers’ understanding. The references herein cited correspond to the original work. Since the profits of a business are determined by costs, it is necessary to analyze their variations at different activity levels. Moreover, costs determine the investment and competitiveness of a country. If the reasons for their behavior are clear, businesses will be able to make wellfounded decisions. The asymmetric behavior of costs means that these will not always behave identically when adjustments are applied in a sales increase or decrease. Banker, Byzalov and Mashruwala (2014) state that managers keep idle resources in spite of decreasing sales during previous periods. The authors argue that downward rigid costs or sticky downward, –one of the possible asymmetric behaviors– are the result of the existence of more than enough resources or a sufficient productive capacity, and that adjusting those idle resources with a downward trend implies a present or future cost. Banker, Byzalov and Chen (2013) argue that the magnitude of the adjustment costs of resources is one of the major determinants of asymmetric costs. This research work studies whether costs in the Argentinian businesses listed in the stock market show an asymmetric behavior over the period 2002-2012. To this end, different models with different implicit hypotheses are compared.
publisher Ediciones UNL
publishDate 2020
url https://bibliotecavirtual.unl.edu.ar/publicaciones/index.php/CE/article/view/9274
work_keys_str_mv AT barberomaciel asymmetriccostsinargentinianbusinessesmodelanalysis
AT barberomaciel costosasimetricosenempresasargentinasanalisisdemodelos
first_indexed 2023-07-05T23:04:54Z
last_indexed 2023-07-05T23:04:54Z
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spelling I26-R133-article-92742021-07-13T11:55:38Z Asymmetric Costs in Argentinian Businesses: Model Analysis Costos asimétricos en empresas argentinas: análisis de modelos Barbero, Maciel asymmetric costs management decisions resources adjustment costos asimétricos decisiones gerenciales ajuste de recursos The first three sections of this research are based on the work of Banker and Bysalov (2014). Even though the chronological order of the topics was maintained, the internal structure of each section was changed and some explanations were added in order to enhance the readers’ understanding. The references herein cited correspond to the original work. Since the profits of a business are determined by costs, it is necessary to analyze their variations at different activity levels. Moreover, costs determine the investment and competitiveness of a country. If the reasons for their behavior are clear, businesses will be able to make wellfounded decisions. The asymmetric behavior of costs means that these will not always behave identically when adjustments are applied in a sales increase or decrease. Banker, Byzalov and Mashruwala (2014) state that managers keep idle resources in spite of decreasing sales during previous periods. The authors argue that downward rigid costs or sticky downward, –one of the possible asymmetric behaviors– are the result of the existence of more than enough resources or a sufficient productive capacity, and that adjusting those idle resources with a downward trend implies a present or future cost. Banker, Byzalov and Chen (2013) argue that the magnitude of the adjustment costs of resources is one of the major determinants of asymmetric costs. This research work studies whether costs in the Argentinian businesses listed in the stock market show an asymmetric behavior over the period 2002-2012. To this end, different models with different implicit hypotheses are compared. Este trabajo sigue, en sus primeras tres secciones, el trabajo de Banker y Bysalov (2014). Si bien se respeta el orden cronológico en que son presentados los temas, la estructura interna de cada sección fue modificada y se agregaron algunas aclaraciones que facilitan la comprensión de los mismos. Las referencias corresponden a los autores citados en el trabajo original. Debido a que los costos son fundamentalmente los determinantes de las ganancias en las empresas, es necesario revisar como estos varían según sea el nivel de actividad. Además, los costos son determinantes/ condicionantes de la inversión y la competitividad de un país y tener conocimiento sobre cuáles son las causas de su comportamiento permitirá aportar información para que los tomadores de decisiones en las empresas tengan en consideración. El comportamiento asimétrico de los costos implica que no siempre presentarán un comportamiento idéntico en sus magnitudes de ajuste cuando haya aumentos o caídas en las ventas. Banker, Byzalov y Mashruwala (2014) sostienen que los administradores retienen recursos ociosos a pesar de que las ventas en los períodos anteriores fueron decrecientes. Se argumenta que los costos pegajosos o rígidos a la baja, uno de los posibles comportamientos asimétricos, surgen porque ya existe una holgura de recursos o capacidad instalada y existe además un costo presente o futuro si se quiere realizar un ajuste hacia la baja en esos recursos ociosos. Banker, Byzalov y Chen (2013) argumentan que uno de los determinantes principales de los costos asimétricos es la magnitud de los costos de ajuste de los recursos. La investigación analiza si existe un comportamiento asimétrico de los costos en empresas argentinas listadas en el Mercado de Valores para el período de análisis 2002–2012. Para ello, se comparan distintos modelos con distintas hipótesis implícitas. Ediciones UNL 2020-05-29 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf application/pdf https://bibliotecavirtual.unl.edu.ar/publicaciones/index.php/CE/article/view/9274 10.14409/rce.v2i-.9274 Ciencias Económicas; Vol. 2 (16): Ciencias Económicas; 135-162 Ciencias Económicas; Vol. 2 (16): Ciencias Económicas; 135-162 2362-552X 1666-8359 10.14409/rce.v2i0 spa https://bibliotecavirtual.unl.edu.ar/publicaciones/index.php/CE/article/view/9274/12606 https://bibliotecavirtual.unl.edu.ar/publicaciones/index.php/CE/article/view/9274/12607 Derechos de autor 2020 Maciel Barbero

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