The Effect of Cost Stickiness on Firm Value by Considering the Resource Adjustment Cost and Agency Problem

The Effect of Cost Stickiness on Firm Value by Considering the Resource Adjustment Cost and Agency ProblemAbstract:Cost stickiness is one of the factors affecting the value of the firm, which can be caused by resource adjustment costs or agency problems, and this was the main motivation of this study. The statistical the population of this study are all companies listed in Tehran Stock Market, in which 102 companies in the period 2013 to 2022 have been selected by systematic elimination method. For data analysis and hypothesis testing, multivariate regression model based on compound data is used. The research results showed that cost stickiness has a negative effect on firm value. Also, the findings showed that when the resource adjustment cost is high, the effect of cost stickiness on the value of the firm increases. In addition, agency problems do not affect the relationship between costs and firm value.Keywords: Firm Value, Cost Stickiness, Resource Adjustment Cost, Agency Problem