تأثیر قابلیت مقایسه صورت‌های مالی بر چسبندگی هزینه‌ها با تأکید بر نقش تعدیل‌گر عدم اطمینان محیطی و حاکمیت شرکتی

This study examines the impact of financial statement comparability on cost stickiness in companies listed on the Tehran Stock Exchange. Utilizing a sample of 83 manufacturing firms over the period 2020-2024 and applying panel data regression with random effects, the findings indicate a significant positive relationship between financial statement comparability and the degree of cost stickiness. This relationship is amplified under conditions of higher environmental uncertainty, measured by stock return volatility. Furthermore, supplementary tests reveal that strong corporate governance mechanisms, specifically board independence and institutional ownership, attenuate the positive effect of comparability on cost stickiness. The results suggest that within the studied context, the informational and facilitative learning benefits derived from comparable financial statements—which enhance managers' strategic decision-making and expectations regarding future demand—prevail over their monitoring role. This leads managers to adopt a more cautious approach towards resource reduction during sales declines, thereby increasing cost stickiness. The research contributes to the existing literature by elucidating a less-explored consequence of accounting comparability and demonstrating the contingent nature of its effect on a firm's operational environment and governance structure. However, given the study's focus on manufacturing firms listed on the Tehran Stock Exchange, the generalizability of the findings to other sectors, such as service and financial industries, should be interpreted with caution.