Asymmetric Cost Behavior and Non-Financial Firms' Risky Financial Investments

Using hand-collected data on non-financial firms’ financial portfolios, I examine how asymmetric cost behavior (or cost stickiness) affects risky financial investments. Sticky costs amplify the downward effect of sales decrease on profits because costs do not fall when sales decrease by as much as t...

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Bibliographic Details

Main Author:	Hwang, Ji Hoon
Format:	Dissertation
Language:	English
Published:	ProQuest Dissertations & Theses 01-01-2024
Subjects:	Accounting Economics Finance
Online Access:	Get full text
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