中文摘要：

在市场机制的影响下，当业务量发生变动时，企业应在权衡业务量与成本费用匹配关系的基础上，对成本费用进行调整，以期抓住机会、应对挑战。从行为金融学的角度对我国A股的2500家上市公司2007-2011年的销售和管理费用粘性情况进行考察，研究结果显示管理层的扩张动机会增强费用的粘性程度，而且从经济学角度看，在资本集中度较高的企业中，这种影响更明显。同时还发现公司治理机制通过约束经理人的自利行为和扩张意图，会降低费用的粘性程度。因此，加强公司治理机制能够有效抑制由管理者的自利行为所引发的费用粘性，从而帮助企业有效地进行成本管理和控制。

英文摘要：

Under the influence of market, when the business volume changes, in order to seize the opportunity and deal with the challenge, enterprise should adjust the expense based on the matching relationship between the volume and cost. In this pa- per, an analysis is made on the stickiness of sales and management costs in terms of behavioral finance using the financial data of 2 500 listed companies on A-share market over the period from 2007 to 2011. The result shows that the expansionary motivation of managers will improve the degree of cost stickiness, and this kind of influence will be more obvious in companies with high capital intensity. Moreover, corporate governance can reduce the degree of cost stickiness by constraining self-interested behavior and ex- pansionary motivation of managers. Therefore, more corporate governance will effectively curb the cost stickiness caused by man- agers＇ self-interested behaviors, which can be of help for an effective cost management and control in enterprises.