Komang Ayu Krisnadewi, Tjiptohadi Sawarjuwono


Abstrak: Apakah Cost Stickiness merupakan Sinyal Buruk dari Perspektif Catur Marga? Penelitian ini berupaya untuk mengupas determinan asimetri perilaku biaya dari perspektif Hindu Weda, yaitu catur marga. Kajian literatur digunakan sebagai metode. Penelitian ini menyimpulkan bahwa ketika mengambil keputusan, manajer mempertimbangkan belas kasih (bhakti marga), pengetahuan yang dimiliki (jnana marga), upaya untuk berbuat baik (karma marga), dan pengendalian diri atas kepentingan pribadi (raja marga). Perilaku biaya sangat dipengaruhi oleh kebijakan yang dibuat oleh manajer. Kebijakan tersebut terkait dengan pengelolaan sumber dayanya, terutama ketika menghadapi permintaan yang menurun.


Abstract: Is Cost Stickiness a Bad Signal from Catur Marga Perspective? This research seeks to explore the determinants of the asymmetry of cost behaviour from a Veda Hindu perspective, namely catur marga. The method used is the literature review. This paper suggests that when making decisions, managers considered compassion (bhakti marga), the knowledge they possess (jnana marga), the effort to do good deeds (karma marga), and self-control over their own personal interest (raja marga). Cost behaviour is strongly influenced by the policy made by the manager in relation to his/her resources’ management, especially when confronted with declining demand.


asymmetric cost; catur marga; cost behaviour; sticky cost


Ahmed, A., Arshad, M. A., Mahmood, A., & Akhtar, S. (2019). The Influence of Spiritual Values on Employee’s Helping Behaviour: The Moderating Role of Islamic Work Ethic. Journal of Management, Spirituality and Religion, 16(3), 235–263.

Anderson, M., Asdemir, O., & Tripathy, A. (2013). Use of Precedent and Antecedent Information in Strategic Cost Management. Journal of Business Research, 66(5), 643–650.

Anderson, M. C., Banker, R. D., & Janakiraman, S. N. (2003). Are Selling, General, and Administrative Costs “Sticky”? Journal of Accounting Research, 41(1), 47–63.

Argilés-Bosch, J. M., García-blandón, J., Ravenda, D., Valencia-Silva, M. M., & Somoza, A. D. (2017). The Influence of the Trade-Off between Profitability and Future Increases in Sales on Cost Stickiness. Estudios de Economia, 44(1), 81–104.

Balakrishnan, R., Labro, E., & Soderstrom, N. S. (2014). Cost Structure and Sticky Costs. Journal of Management Accounting Research, 26(2), 91–116.

Balog, A. M., Baker, L. T., & Walker, A. G. (2014). Religiosity and Spirituality in Entrepreneurship: A Review and Research Agenda. Journal of Management, Spirituality and Religion, 11(2), 159–186.

Banker, R. D., Byzalov, D., Ciftci, M., & Mashruwala, R. (2014). The Moderating Effect of Prior Sales Changes on Asymmetric Cost Behaviour. Journal of Management Accounting Research, 26(2), 221–242.

Banker, R. D., & Byzalov, D. (2014). Asymmetric Cost Behaviour. Journal of Management Accounting Research, 26(2), 43–79.

Banker, R. D., Byzalov, D., & Chen, L. T. (2013). Employment Protection Legislation, Adjustment Costs and Cross-Country Differences in Cost Behaviour. Journal of Accounting and Economics, 55(1), 111–127.

Banker, R. D., Byzalov, D., Ciftci, M., & Mashruwala, R. (2014). The Moderating Effect of Prior Sales Changes on Asymmetric Cost Behaviour. Journal of Management Accounting Research, 26(2), 221–242.

Baumgarten, D., Bonenkamp, U., & Homburg, C. (2010). The Information Content of the SG&A Ratio. Journal of Management Accounting Research, 22(1), 1–22.

Bihan, H. L., & Matheron, J. (2012). Price Stickiness and Sectoral Inflation Persistence: Additional Evidence. Journal of Money, Credit and Banking, 44(7), 1427-1442.

Bradbury, M. E., & Scott, T. (2018). Do Managers Understand Asymmetric Cost Behaviour? Australian Journal of Management, 43(4), 538-554.

Brüggen, A., & Oliver, J. Z. (2014). SG & A Cost Stickiness and Equity-Based Executive Compensation: Does Empire Building Matter ? Journal of Management Control, 25, 169–192.

Bu, D., Wen, C., & Banker, R. D. (2015). Implications of Asymmetric Cost Behaviour for Analysing Financial Reports of Companies in China. China Journal of Accounting Studies, 3(3), 181–208.

Bugeja, M., Lu, M., & Shan, Y. (2015). Cost Stickiness in Australia: Characteristics and Determinants. Australian Accounting Review, 25(3), 248–261.

Calleja, K., Steliaros, M., & Thomas, D. C. (2006). A Note on Cost Stickiness: Some International Comparisons. Management Accounting Research, 17(2), 127–140.

Cannon, J. N. (2014). Determinants of “Sticky Costs”: An Analysis of Cost Behaviour Using United States Air Transportation Industry Data. The Accounting Review, 89(5), 1645–1672.

Chae, S., & Chung, K. (2015). The Effect of Human Resource Investment in Internal Accounting Control on Cost Stickiness. The Journal of Applied Business Research, 31(5), 1719–1732.

Chae, S., & Ryu, H. (2016). The Effect of Control – Ownership Disparity on Cost Stickiness. Journal of Distribution Science, 14(8), 51–57.

Chay, J. B., Park, S. H., Kim, S., & Suh, J. (2015). Financing Hierarchy: Evidence from Quantile Regression. Journal of Corporate Finance, 33, 147–163.

Chen, C. C., & Lee, H. (2019). Rigidity of Selling, General, and Administrative Costs and Managerial Incentives to Meet Earnings Thresholds: Evidence from Conglomerates. Review of Economics and Finance, 15(1), 46–56.

Cheng, S., Jiang, W., & Zeng, Y. (2018). Does Access to Capital Affect Cost Stickiness? Evidence from China. Asia-Pacific Journal of Accounting and Economics, 25(1–2), 177–198.

Cheung, J., Kim, H., Kim, S., & Huang, R. (2018). Is the Asymmetric Cost Behaviour Affected by Competition Factors? Asia-Pacific Journal of Accounting and Economics, 25(1–2), 218–234.

Chung, C. Y., Hur, S. K., & Liu, C. (2019). Institutional Investors and Cost Stickiness: Theory and Evidence. North American Journal of Economics and Finance, 47, 336–350.

Ciftci, M., Mashruwala, R., & Weiss, D. (2016). Implications of Cost Behaviour for Analysts’ Earnings Forecasts. Journal of Management Accounting Research, 28(1), 57–80.

Ciftci, M., & Salama, F. M. (2018). Stickiness in Costs and Voluntary Disclosures: Evidence from Management Earnings Forecasts. Journal of Management Accounting Research, 30(3), 211–234.

Ciftci, M., & Zoubi, T. A. (2019). The Magnitude of Sales Change and Asymmetric Cost Behaviour. Journal of Management Accounting Research, 31(3), 65–81.

Costa, M. D., & Habib, A. (2020). Trade credit and Cost Stickiness. Accounting & Finance, 60(5), 4845-4886.

Danu, I. M. (2014). Ajaran Weda dalam Filosofi Hindu (Tinjauan Konsep dan Aplikasinya). Penerbit Paramita.

Darmayasa. (2014). Bhagawad Gita (Nyanyian Tuhan) (9th ed.). Yayasan Dharma Sthapanam.

Emett, S. A., Guymon, R. N., Tayler, W. B., & Young, D. (2019). Controls and the Asymmetric Stickiness of Norms. Accounting Horizons, 33(4), 119–143.

Fitzgerald, D., & Haller, S. (2013). Pricing-to-Market: Evidence from Plant-Level Prices. Review of Economic Studies, 81(2), 761-786.

Golden, J., Mashruwala, R., & Pevzner, M. (2020). Labour Adjustment Costs and Asymmetric Cost Behaviour: An Extension. Management Accounting Research, 46, 1-10.

Gorodnichenko, Y., & Weber, M. (2016). Are Sticky Prices Costly? Evidence from the Stock Market. American Economic Review, 106(1), 165-199.

Gray, R., & Milne, M. J. (2015). It's not What You Do, It's the Way that You Do It? Of Method and Madness. Critical Perspectives on Accounting, 32, 51-66.

Guenther, T. W., Riehl, A., & Rößler, R. (2014). Cost Stickiness: State of the Art of Research and Implications. Journal of Management Control, 24(4), 301–318.

Habib, A., & Hasan, M. M. (2019). Corporate Social Responsibility and Cost Stickiness. Business & Society, 58(3), 453–492.

Habib, A., & Huang, H. J. (2019). Cost Stickiness in the New Zealand Charity Sector. International Journal of Accounting.

Hur, K. S., Kim, D. H., & Cheung, J. H. (2019). Managerial Overconfidence and Cost Behaviour of R&D Expenditures. Sustainability (Switzerland), 11(18), 1–13.

Ibrahim, A. E. A. (2018). Board Characteristics and Asymmetric Cost Behaviour: Evidence from Egypt. Accounting Research Journal, 31(2), 301–322.

Jiang, W., Wentao, Y., & Hu, Y. (2016). The Enforcement of the Minimum Wage Policy in China and Firm Cost Stickiness. China Journal of Accounting Studies, 4(3), 339-355,.

Kama, I., & Weiss, D. (2013). Do Earnings Targets and Managerial Incentives Affect Sticky Costs? Journal of Accounting Research, 51(1), 201–224.

Kaspereit, T., & Lopatta, K. (2019). Improving Predictions of Upward Cost Adjustment and Cost Asymmetry at the Firm-Year Level. Journal of Management Accounting Research, 31(3), 99–127.

Kim, J. B., Lee, J. J., & Park, J. C. (2019). Internal Control Weakness and the Asymmetrical Behaviour of Selling, General, and Administrative Costs. Journal of Accounting, Auditing & Finance, 34(4), 685-718.

Kim, M., & Prather-Kinsey, J. (2010). An Additional Source of Financial Analysts’ Earnings Forecast Errors: Imperfect Adjustments for Cost Behaviour. Journal of Accounting, Auditing and Finance, 25(1), 27–51.

Kitching, K., Mashruwala, R., & Pevzner, M. (2016). Culture and Cost Stickiness: A Cross-Country Study. International Journal of Accounting, 51(3), 402–417.

Krisnadewi, K. A., & Soewarno, N. (2020). Competitiveness and Cost Behaviour: Evidence from the Retail Industry. Journal of Applied Accounting Research, 21(1), 125–141.

Kuiate, C., & Noland, T. R. (2019). Attracting and Retaining Core Competency: A Focus on Cost Stickiness. Journal of Accounting and Organizational Change, 15(4), 678–700.

Lee, J., Park, J. H. H., & Hyeon, J. (2019). Co-CEOs and Asymmetric Cost Behaviour. Sustainability (Switzerland), 11(4), 1046.

Lee, W., Pittman, J., & Saffar, W. (2020). Political Uncertainty and Cost Stickiness: Evidence from National Elections around the World. Contemporary Accounting Research, 37(2), 1107–1139.

Li, W. L., & Zheng, K. (2017). Product Market Competition and Cost Stickiness. Review of Quantitative Finance and Accounting, 49(2), 283–313.

Li, W., Natarajan, R., Zhao, Y., & Zheng, K. (2020). The Effect of Management Control Mechanisms through Risk-Taking Incentives on Asymmetric Cost Behaviour. Review of Quantitative Finance and Accounting, 55(20), 219-243.

Liu, X. K., Liu, X., & Reid, C. D. (2019). Stakeholder Orientations and Cost Management. Contemporary Accounting Research, 36(1), 486–512.

Lopatta, K., Kaspereit, T., & Gastone, L. (2020). Managerial Style in Cost Asymmetry and Shareholder Value. Managerial and Decision Economics, 41(5), 800–826.

Loy, T. R., & Hartlieb, S. (2018). Have Estimates of Cost Stickiness Changed Across Listing Cohorts? Journal of Management Control, 29(2), 161–181.

Lu, M., Shan, Y., Wright, S., & Yu, Y. (2020). Operating Cash Flow Asymmetric Timeliness in Australia. Accounting & Finance, 60(S1), 587–627.

Maharaj, S. G. S. R. (2013). Pesan Abadi Veda. Media Hindu.

Martela, F. (2015). Fallible Inquiry with Ethical Ends-in-View: A Pragmatist Philosophy of Science for Organizational Research. Organization Studies, 36(4), 537-563.

McGhee, P., & Grant, P. (2017). The Transcendent Influence of Spirituality on Ethical Action in Organizations. Journal of Management, Spirituality and Religion, 14(2), 160–178.

Mennita, R., & Soeherman, B. (2019). Akuntabilitas Bisnis Villa dalam Ajaran Suluk Linglung. Jurnal Akuntansi Multiparadigma, 10(3), 516–536.

Merlo, A., Ortalo-Magné, F., & Rust, J. (2015). The Home Selling Problem: Theory and Evidence. International Economic Review, 56(2), 457-484.

Mohammadi, A., & Taherkhani, P. (2017). Organizational Capital, Intellectual Capital and Cost Stickiness (Evidence from Iran). Journal of Intellectual Capital, 18(3), 625–642.

Namitha, C., & Shijin, S. (2016). Managerial Discretion and Agency Cost in Indian Market. Advances in Accounting, 35, 159–169.

Nandram, S. S., Mourmont, G., Smith, E. N., Heaton, D. P., & Bindlish, P. K. (2018). Understanding Entrepreneurial Decision-Making by Objectivizing Subtle Cues. Journal of Management, Spirituality and Religion, 15(5), 398–423.

Niswatin, N., Noholo, S., Tuli, H., & Wuryandini, A. R. (2017). Perilaku Pengusaha Mikro Betawi Perantauan terhadap Cost Reduction. Jurnal Akuntansi Multiparadigma, 8(3), 427–443.

Özkaya, H. (2020). Sticky Cost Behaviour: Evidence from Small and Medium Sized Enterprises in Turkey. Eurasian Business Review, 10(4), 660-680.

Paik, T., & Koo, J. (2016). Relationship between Cost Stickiness and Agency Problem. International Journal of IT-Based Management for Smart Business, 3(1), 15–20.

Prabowo, R., Hooghiemstra, R., & Van, V. D. P. (2018). State Ownership, Socio-Political Factors, and Labour Cost Stickiness. European Accounting Review, 27(4), 771–796.

Priantana, R. D., Rohman, A., & Fuad. (2020). Attainment Discrepancy Level, Firm Resources Slack, and Sticky Cost. International Journal of Financial Research, 11(2), 97–110.

Rouxelin, F., Wongsunwai, W., & Yehuda, N. (2018). Aggregate Cost Stickiness in GAAP Financial Statements and Future Unemployment Rate. The Accounting Review, 93(3), 299–325.

Sankaracharya. (2014). Atmabodha – Pengetahuan Diri untuk Kedamaian Tertinggi. Media Hindu.

Sepasi, S., & Hassani, H. (2015). Study of the Effect of the Firm Size on Cost Stickiness: Evidence from Teheran Stock Exchange. International Journal of Applied Business and Economic Research, 13(6), 4143–4159.

Shubita, M. F. (2019). Specification of the Relationship between the Sales Expenses and the Sales in Jordanian Companies. Innovative Marketing, 15(4), 57–65.

Shust, E., & Weiss, D. (2014). Discussion of Asymmetric Cost Behaviour—Sticky Costs: Expenses versus Cash Flows. Journal of Management Accounting Research, 26(2), 81–90.

Silge, L., & Wöhrmann, A. (2019). Market Reaction to Asymmetric Cost Behaviour: The Impact of Long-Term Growth Expectations. Review of Managerial Science, 1–39.

Sun, R., Ho, K., Gu, Y., & Chen, C. (2019). Asymmetric Cost Behaviour and Investment in R&D: Evidence from China’s Manufacturing Listed Companies. Sustainability (Switzerland), 11(1785), 1–15.

Suriyankietkaew, S., & Kantamara, P. (2019). Business Ethics and Spirituality for Corporate Sustainability: A Buddhism Perspective. Journal of Management, Spirituality and Religion, 16(3), 264–289.

Tanasal, S., Randa, F., & Ng, S. (2019). Akuntabilitas Berbasis Mettā dan Kamma. Jurnal Akuntansi Multiparadigma, 10(3).

Tang, L., Huang, Y., Liu, J., & Wan, X. (2020). Cost Stickiness and Stock Price Crash Risk: Evidence from China. Emerging Markets Finance and Trade, 56(15), 1–26.

Uy, A. O. O. (2014). The Dynamics of Firm Competitiveness: Evidence from Cost Behaviour of Filipino firms. Academy of Accounting and Financial Studies Journal, 18(4), 84–95.

Venieris, G., Naoum, V. C., & Vlismas, O. (2015). Organisation Capital and Sticky Behaviour of Selling, General, and Administrative Expenses. Management Accounting Research, 26(2014), 54–82.

Via, N. D., & Perego, P. (2014). Sticky Cost Behaviour: Evidence From Small and Medium Sized Companies. Accounting and Finance, 54(3), 753–778.

Villiers, C. D., Dumay, J., & Maroun, W. (2019). Qualitative Accounting Research: Dispelling Myths and Developing a New Research Agenda. Accounting and Finance, 59(3), 1459-1487.

Vivekananda, S. (2015). Bhakti Yoga: Yoga Cinta dan Devosi. Jakarta: Media Hindu. Media Hindu.

Weiss, D. (2010). Cost Behaviour and Analysts’ Earnings Forecasts. The Accounting Review, 85(4), 1441–1471.

Wu, T. Z. C., Young, C. S., Yu, C. C., & Hsu, H. T. (2020). Are Governmental Expenditures also Sticky? Evidence from the Operating Expenditures of Public Schools. Applied Economics, 52(16), 1763–1776.

Xi, F., Liu, X., Wang, Q., & Liang, M. (2013). Empirical Research of the Cost Stickiness Behaviour under Opportunism Incentives. Information Technology Journal, 12(19), 5281–5285.

Xu, J., & Sim, J. W. (2017). Are Costs Really Sticky and Biased? Evidence from Manufacturing Listed Companies in China. Applied Economics, 49(55), 5601–5613.

Xue, S., & Hong, Y. (2016). Earnings Management, Corporate Governance and Expense Stickiness. China Journal of Accounting Research, 9(1), 41–58.

Yang, D. (2015). Mergers, CEO Hubris, and Cost Stickiness. Emerging Markets Finance and Trade, 51(sup5), S46–S63.

Yang, D., & Zhang, Z. N. (2017). Impact of Managerial Optimism on Cost Stickiness: Evidence from China. International Journal of Applied Business and Economic Research, 15(21), 373–383.

Yoon, S. M., & Moon, Y. Y. (2015). The Effects of Rebate Regulation on Cost Behaviour in the Korean Pharmaceutical Industry: Focusing on Cost Stickiness. International Journal of Applied Engineering Research, 10(2), 31163–31174.

Zanella, F., Oyelere, P., & Hossain, S. (2015). Are Costs Really Sticky? Evidence from Publicly Listed Companies in the UAE. Applied Economics, 47(60), 6519–6528.

Zhang, J., Yin, M., Han, J., & Aroskar, R. (2019). Why is Asset-Light Strategy Necessary? An Empirical Analysis through the Lens of Cost Stickiness. Tourism Management Perspectives, 32, 1-8.



  • There are currently no refbacks.

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.