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Exploring Cost Stickiness in the Textile Industry: A Comparative Analysis between the Nordic Countries and Spain through Panel Data Analysis

Applied sciences, 2024-03, Vol.14 (6), p.2599 [Peer Reviewed Journal]

COPYRIGHT 2024 MDPI AG ;2024 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2076-3417 ;EISSN: 2076-3417 ;DOI: 10.3390/app14062599

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Title:
Exploring Cost Stickiness in the Textile Industry: A Comparative Analysis between the Nordic Countries and Spain through Panel Data Analysis
Author: Bona-Sánchez, Carolina ; Salokangas, Heidi ; Sorsa, Kaisa
Subjects: Business success ; Collaboration ; Collective bargaining ; Comparative analysis ; Corporate culture ; Corporate governance ; Cost control ; cost stickiness ; Costs ; Decision making ; Economic aspects ; Economic conditions ; Employment ; Financial management ; Forecasts and trends ; Global economy ; Influence ; Labor market ; Nordic countries ; Spain ; Sustainability ; Sustainable development ; Textile industry ; Union membership ; Workforce
Is Part Of: Applied sciences, 2024-03, Vol.14 (6), p.2599
Description: This study explores the complexities of cost behavior in the textile industry, conducting a comparative analysis between firms in the Nordic countries and Spain. Our main goal is to examine how distinct economic and corporate governance models impact the cost management strategies of textile firms. Utilizing a panel dataset from the Orbis database covering the years 2017 to 2022, we reveal significant differences in cost stickiness between these regions. Notably, Nordic textile firms demonstrate a stronger tendency toward cost stickiness compared to their Spanish counterparts. This difference is largely attributed to the Nordic textile firms’ more cautious approach to adjusting costs in response to decreases in revenue, potentially motivated by a commitment to sustainability, eco-friendly technologies, and long-term business success. Our analysis not only highlights the complex interaction between the global challenges confronting the textile sector and the unique economic and governance environments but also maps out how these elements shape cost management strategies. By offering insights to both academics and practitioners, this study advocates for a comprehensive cost management approach, capable of navigating demand volatilities and strategic complexities faced by textile firms.
Publisher: Basel: MDPI AG
Language: English
Identifier: ISSN: 2076-3417
EISSN: 2076-3417
DOI: 10.3390/app14062599
Source: Directory of Open Access Journals (DOAJ)
AUTh Library subscriptions: ProQuest Central
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Exploring Cost Stickiness in the Textile Industry: A Comparative Analysis between the Nordic Countries and Spain through Panel Data Analysis

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