{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,20]],"date-time":"2026-03-20T18:31:10Z","timestamp":1774031470171,"version":"3.50.1"},"reference-count":61,"publisher":"Emerald","issue":"1","license":[{"start":{"date-parts":[[2024,10,9]],"date-time":"2024-10-09T00:00:00Z","timestamp":1728432000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IMDS"],"published-print":{"date-parts":[[2025,1,2]]},"abstract":"<jats:sec><jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title><jats:p>Global business practices show that during periods of demand volatility, manufacturing firms often engage in asymmetric cost management (ACM), a behavior in which costs increase faster than they decrease when demand decreases by the same amount. However, whether managing asymmetric costs will enhance or impede firm resilience remains an open question. We aim to investigate the impact of ACM on firm resilience and its boundary conditions.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title><jats:p>Using unbalanced panel data of 2,273 Chinese manufacturing listed companies from 2002 to 2021, we conduct an empirical analysis using a double fixed effects model.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings<\/jats:title><jats:p>Our findings reveal that ACM has a negative effect on firm resilience. This suggests that in coping with external environmental fluctuations, ACM fails to fulfill its expected role effectively. Instead, it manifests as a severe agency problem affecting firm resilience. Further, we find that managerial myopia and digitalization diminish the negative effect, while customer instability exacerbates it.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title><jats:p>This study contributes to the literature on the organizational resilience of manufacturing firms by providing an in-depth understanding of cost management and emphasizing the need to consider agency issues carefully when managing asymmetric costs.<\/jats:p><\/jats:sec>","DOI":"10.1108\/imds-05-2024-0425","type":"journal-article","created":{"date-parts":[[2024,10,8]],"date-time":"2024-10-08T12:15:20Z","timestamp":1728389720000},"page":"143-167","source":"Crossref","is-referenced-by-count":6,"title":["Better safe than sorry? The effect of asymmetric cost management on firm resilience in manufacturing firms"],"prefix":"10.1108","volume":"125","author":[{"ORCID":"https:\/\/orcid.org\/0000-0001-5522-7585","authenticated-orcid":false,"given":"Ke","family":"Du","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-9830-121X","authenticated-orcid":false,"given":"Fu","family":"Jia","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-4229-7194","authenticated-orcid":false,"given":"Lujie","family":"Chen","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"140","published-online":{"date-parts":[[2024,10,9]]},"reference":[{"issue":"3","key":"key2024122007363132100_ref001","doi-asserted-by":"publisher","first-page":"1","DOI":"10.1080\/09638180.2022.2121739","article-title":"Cost stickiness and stock price delay","volume":"33","year":"2021","journal-title":"European Accounting Review"},{"issue":"1","key":"key2024122007363132100_ref002","doi-asserted-by":"publisher","first-page":"47","DOI":"10.1111\/1475-679X.00095","article-title":"Are selling, general, and administrative costs \u2018sticky\u2019?","volume":"41","year":"2003","journal-title":"Journal of Accounting Research"},{"issue":"1","key":"key2024122007363132100_ref003","doi-asserted-by":"publisher","first-page":"328","DOI":"10.1109\/TEM.2020.3016988","article-title":"A systematic literature review of supply chain resilience in small-medium enterprises (SMEs): a call for further research","volume":"70","year":"2023","journal-title":"IEEE Transactions on Engineering Management"},{"issue":"2","key":"key2024122007363132100_ref004","doi-asserted-by":"publisher","first-page":"442","DOI":"10.1287\/isre.2022.1159","article-title":"Brand crisis and customer relationship management on social media: evidence from a natural experiment from the airline industry","volume":"34","year":"2023","journal-title":"Information Systems Research"},{"issue":"3","key":"key2024122007363132100_ref005","doi-asserted-by":"publisher","first-page":"839","DOI":"10.2308\/accr-50661","article-title":"Demand uncertainty and cost behavior","volume":"89","year":"2014","journal-title":"The Accounting Review"},{"issue":"6","key":"key2024122007363132100_ref006","doi-asserted-by":"publisher","first-page":"1740","DOI":"10.5465\/amj.2012.1091","article-title":"Paying the price? The impact of controversial governance practices on managerial reputation","volume":"58","year":"2015","journal-title":"Academy of Management Journal"},{"key":"key2024122007363132100_ref007","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2023.109037","article-title":"Estimating resilience of manufacturing plants to physical disruptions: model and application","volume":"266","year":"2023","journal-title":"International Journal of Production Economics"},{"issue":"2","key":"key2024122007363132100_ref008","doi-asserted-by":"publisher","first-page":"501","DOI":"10.1093\/rof\/rfv014","article-title":"Reputation and loan contract terms: the role of principal customers","volume":"20","year":"2016","journal-title":"Review of Finance"},{"key":"key2024122007363132100_ref009","doi-asserted-by":"publisher","DOI":"10.1016\/j.frl.2022.103510","article-title":"Digital transformation and firm cost stickiness: evidence from China","volume":"52","year":"2023","journal-title":"Finance Research Letters"},{"issue":"1","key":"key2024122007363132100_ref010","doi-asserted-by":"publisher","first-page":"252","DOI":"10.1111\/j.1911-3846.2011.01094.x","article-title":"The agency problem, corporate governance, and the asymmetrical behavior of selling, general, and administrative costs","volume":"29","year":"2012","journal-title":"Contemporary Accounting Research"},{"issue":"2","key":"key2024122007363132100_ref011","doi-asserted-by":"publisher","first-page":"665","DOI":"10.1007\/s11142-019-09491-2","article-title":"A contextual analysis of the impact of managerial expectations on asymmetric cost behavior","volume":"24","year":"2019","journal-title":"Review of Accounting Studies"},{"key":"key2024122007363132100_ref012","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2021.108082","article-title":"Supply chain leadership and firm performance: a meta-analysis","volume":"235","year":"2021","journal-title":"International Journal of Production Economics"},{"issue":"4","key":"key2024122007363132100_ref013","doi-asserted-by":"publisher","first-page":"277","DOI":"10.1108\/IJOPM-04-2021-838","article-title":"The role of digital transformation to empower supply chain finance: current research status and future research directions (guest editorial)","volume":"41","year":"2021","journal-title":"International Journal of Operations and Production Management"},{"key":"key2024122007363132100_ref014","doi-asserted-by":"publisher","DOI":"10.1016\/j.irfa.2023.102900","article-title":"Short-termism in financial decision-making: uncovering the influence of managerial myopia on corporate financial asset\u00a0allocation through MD&A textual analysis","volume":"90","year":"2023","journal-title":"International Review of Financial Analysis"},{"issue":"3","key":"key2024122007363132100_ref015","doi-asserted-by":"publisher","first-page":"404","DOI":"10.1002\/joom.1207","article-title":"The impact of governmental COVID-19 measures on manufacturers' stock market valuations: the role of labor intensity and operational slack","volume":"69","year":"2023","journal-title":"Journal of Operations Management"},{"issue":"3","key":"key2024122007363132100_ref016","doi-asserted-by":"publisher","first-page":"708","DOI":"10.1287\/mnsc.2013.1777","article-title":"Resource flexibility and capital structure","volume":"60","year":"2014","journal-title":"Management Science"},{"issue":"12","key":"key2024122007363132100_ref017","doi-asserted-by":"publisher","first-page":"1918","DOI":"10.1002\/smj.2313","article-title":"Top management conservatism and corporate risk strategies: evidence from managers' personal political orientation and corporate tax avoidance","volume":"36","year":"2015","journal-title":"Strategic Management Journal"},{"issue":"2","key":"key2024122007363132100_ref018","doi-asserted-by":"publisher","first-page":"1","DOI":"10.1007\/s10479-022-04735-y","article-title":"Investigating the relationship between digital technologies, supply chain integration and firm resilience in the context of COVID-19","volume":"327","year":"2022","journal-title":"Annals of Operations Research"},{"issue":"4","key":"key2024122007363132100_ref019","doi-asserted-by":"publisher","first-page":"1434","DOI":"10.1177\/0149206317708854","article-title":"Bouncing back: building resilience through social and environmental practices in the context of the 2008 global financial crisis","volume":"45","year":"2019","journal-title":"Journal of Management"},{"issue":"15","key":"key2024122007363132100_ref020","doi-asserted-by":"publisher","first-page":"5472","DOI":"10.1080\/00207543.2022.2127961","article-title":"Exploring the role of artificial intelligence in building production resilience: learnings from the COVID-19 pandemic","volume":"62","year":"2024","journal-title":"International Journal of Production Research"},{"key":"key2024122007363132100_ref021","doi-asserted-by":"publisher","first-page":"446","DOI":"10.2139\/ssrn.3042815","article-title":"Economic resilience of the firm: a production theory approach","volume":"208","year":"2019","journal-title":"International Journal of Production Economics"},{"key":"key2024122007363132100_ref022","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2020.107762","article-title":"Operational resilience, disruption, and efficiency: conceptual and empirical analyses","volume":"229","year":"2020","journal-title":"International Journal of Production Economics"},{"key":"key2024122007363132100_ref023","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2022.108652","article-title":"Linking resource slack to operational resilience: integration of resource-based and attention-based perspectives","volume":"254","year":"2022","journal-title":"International Journal of Production Economics"},{"issue":"3","key":"key2024122007363132100_ref024","doi-asserted-by":"publisher","first-page":"331","DOI":"10.1108\/IJOPM-07-2021-0425","article-title":"Addressing modern slavery in supply chains: an awareness-motivation-capability perspective","volume":"42","year":"2022","journal-title":"International Journal of Operations and Production Management"},{"issue":"10","key":"key2024122007363132100_ref025","doi-asserted-by":"publisher","first-page":"4703","DOI":"10.1287\/mnsc.2019.3345","article-title":"The political economy of labor employment decisions: evidence from China","volume":"66","year":"2020","journal-title":"Management Science"},{"key":"key2024122007363132100_ref026","doi-asserted-by":"publisher","first-page":"52","DOI":"10.1016\/j.jbusres.2020.01.035","article-title":"Corporate social responsibility, overconfident CEOs and empire building: agency and stakeholder theoretic perspectives","volume":"111","year":"2020","journal-title":"Journal of Business Research"},{"issue":"9","key":"key2024122007363132100_ref027","doi-asserted-by":"publisher","first-page":"1409","DOI":"10.1108\/IJOPM-06-2022-0363","article-title":"Supplier\u2013supplier coopetition and buyer innovation: a perspective of learning and competitive tension within the focal buyer's supplier network","volume":"43","year":"2023","journal-title":"International Journal of Operations and Production Management"},{"key":"key2024122007363132100_ref028","doi-asserted-by":"publisher","DOI":"10.1016\/j.jcorpfin.2021.101936","article-title":"Do facilitation payments affect earnings management? Evidence from China","volume":"68","year":"2021","journal-title":"Journal of Corporate Finance"},{"issue":"2","key":"key2024122007363132100_ref029","doi-asserted-by":"publisher","first-page":"291","DOI":"10.2308\/TAR-2017-0342","article-title":"Financial reporting discretion, managerial myopia, and investment efficiency","volume":"97","year":"2022","journal-title":"The Accounting Review"},{"key":"key2024122007363132100_ref030","doi-asserted-by":"publisher","DOI":"10.1016\/j.irfa.2022.102196","article-title":"Firms' digitalization and stock price crash risk","volume":"82","year":"2022","journal-title":"International Review of Financial Analysis"},{"issue":"3","key":"key2024122007363132100_ref031","doi-asserted-by":"publisher","first-page":"497","DOI":"10.1002\/joom.1236","article-title":"The effect of customer and supplier concentrations on firm resilience during the COVID-19 pandemic: resource dependence and power balancing","volume":"69","year":"2023","journal-title":"Journal of Operations Management"},{"issue":"6","key":"key2024122007363132100_ref032","doi-asserted-by":"publisher","first-page":"1872","DOI":"10.1287\/mnsc.2015.2392","article-title":"Does corporate governance matter more for high financial slack firms?","volume":"63","year":"2017","journal-title":"Management Science"},{"issue":"5","key":"key2024122007363132100_ref033","doi-asserted-by":"publisher","first-page":"913","DOI":"10.1080\/09638180.2021.1976662","article-title":"The effect of cost stickiness on peer-based valuation models","volume":"30","year":"2021","journal-title":"The European Accounting Review"},{"issue":"2","key":"key2024122007363132100_ref034","doi-asserted-by":"publisher","first-page":"131","DOI":"10.1080\/09537287.2017.1391346","article-title":"An exploration of \u2018sticky\u2019 inventory management in the manufacturing industry","volume":"29","year":"2017","journal-title":"Production Planning and Control"},{"issue":"2","key":"key2024122007363132100_ref035","doi-asserted-by":"publisher","first-page":"305","DOI":"10.1093\/rof\/rfz012","article-title":"Managerial short-termism and investment: evidence from accelerated option vesting","volume":"24","year":"2020","journal-title":"Review of Finance"},{"issue":"10","key":"key2024122007363132100_ref036","doi-asserted-by":"publisher","first-page":"2703","DOI":"10.1002\/smj.2929","article-title":"CEO career horizon, corporate governance, and real options: the role of economic short-termism","volume":"39","year":"2018","journal-title":"Strategic Management Journal"},{"issue":"3","key":"key2024122007363132100_ref037","doi-asserted-by":"publisher","first-page":"384","DOI":"10.1002\/joom.1176","article-title":"Breaking out of the pandemic: how can firms match internal competence with external resources to shape operational resilience?","volume":"69","year":"2023","journal-title":"Journal of Operations Management"},{"key":"key2024122007363132100_ref038","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2023.108931","article-title":"The role of financial slack on the relationship between demand uncertainty and operational efficiency","volume":"262","year":"2023","journal-title":"International Journal of Production Economics"},{"issue":"6","key":"key2024122007363132100_ref039","doi-asserted-by":"publisher","first-page":"1975","DOI":"10.1111\/poms.13952","article-title":"Customers' managerial expectations and suppliers' asymmetric cost management","volume":"32","year":"2023","journal-title":"Production and Operations Management"},{"issue":"3","key":"key2024122007363132100_ref040","doi-asserted-by":"publisher","first-page":"1741","DOI":"10.1002\/csr.2653","article-title":"Impacts of digital transformation on corporate green technology\u00a0innovation: do board characteristics play a role?","volume":"31","year":"2023","journal-title":"Corporate Social-Responsibility and Environmental Management"},{"issue":"8","key":"key2024122007363132100_ref041","doi-asserted-by":"publisher","first-page":"3114","DOI":"10.1177\/0149206318777589","article-title":"In the eye of the beholder: top managers' long-term orientation, industry context, and decision-making processes","volume":"45","year":"2019","journal-title":"Journal of Management"},{"issue":"1","key":"key2024122007363132100_ref042","doi-asserted-by":"publisher","first-page":"486","DOI":"10.1111\/1911-3846.12389","article-title":"Stakeholder orientations and cost management","volume":"36","year":"2019","journal-title":"Contemporary Accounting Research"},{"key":"key2024122007363132100_ref043","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2021.108321","article-title":"The diverse impact of heterogeneous customer characteristics on supply chain finance: empirical evidence from Chinese factoring","volume":"243","year":"2022","journal-title":"International Journal of Production Economics"},{"key":"key2024122007363132100_ref044","doi-asserted-by":"publisher","first-page":"330","DOI":"10.1016\/j.indmarman.2020.05.018","article-title":"Risk, uncertainty, ignorance and myopia: their managerial implications for b2b firms","volume":"88","year":"2020","journal-title":"Industrial Marketing Management"},{"key":"key2024122007363132100_ref045","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2022.108628","article-title":"Data-driven digital transformation for emergency situations: the case of the UK retail sector","volume":"250","year":"2022","journal-title":"International Journal of Production Economics"},{"key":"key2024122007363132100_ref046","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2019.107577","article-title":"Does supplier stability matter in initial public offering pricing?","volume":"225","year":"2020","journal-title":"International Journal of Production Economics"},{"issue":"4","key":"key2024122007363132100_ref047","doi-asserted-by":"publisher","first-page":"957","DOI":"10.1177\/0149206320902528","article-title":"CEO greed, corporate social responsibility, and organizational resilience to systemic shocks","volume":"47","year":"2021","journal-title":"Journal of Management"},{"key":"key2024122007363132100_ref048","doi-asserted-by":"publisher","DOI":"10.1016\/j.frl.2022.103083","article-title":"Managerial myopia and firm productivity: evidence from China","volume":"49","year":"2022","journal-title":"Finance Research Letters"},{"issue":"1","key":"key2024122007363132100_ref049","doi-asserted-by":"publisher","first-page":"16","DOI":"10.1016\/j.jom.2018.08.001","article-title":"Inventory agility upon demand shocks: empirical evidence from the financial crisis","volume":"62","year":"2018","journal-title":"Journal of Operations Management"},{"issue":"4","key":"key2024122007363132100_ref050","doi-asserted-by":"publisher","first-page":"1441","DOI":"10.2308\/accr.2010.85.4.1441","article-title":"Cost behavior and analysts' earnings forecasts","volume":"85","year":"2010","journal-title":"The Accounting Review"},{"issue":"2","key":"key2024122007363132100_ref051","doi-asserted-by":"publisher","first-page":"733","DOI":"10.5465\/annals.2015.0134","article-title":"Organizational response to adversity: fusing crisis management and resilience research streams","volume":"11","year":"2017","journal-title":"Academy of Management Annals"},{"issue":"5","key":"key2024122007363132100_ref052","doi-asserted-by":"publisher","first-page":"2017","DOI":"10.1287\/mnsc.2018.3281","article-title":"Data analytics, innovation, and firm productivity","volume":"66","year":"2020","journal-title":"Management Science"},{"issue":"3","key":"key2024122007363132100_ref053","doi-asserted-by":"publisher","first-page":"242","DOI":"10.1002\/joom.1023","article-title":"An empirical analysis of supply chain finance adoption","volume":"65","year":"2019","journal-title":"Journal of Operations Management"},{"key":"key2024122007363132100_ref054","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2023.109078","article-title":"Intelligent manufacturing for strengthening operational resilience during the COVID-19 pandemic: a dynamic capability theory perspective","volume":"267","year":"2024","journal-title":"International Journal of Production Economics"},{"key":"key2024122007363132100_ref055","doi-asserted-by":"publisher","DOI":"10.1016\/j.jclepro.2021.127104","article-title":"Evaluating the impact of carbon emissions trading scheme on Chinese firms' total factor productivity","volume":"306","year":"2021","journal-title":"Journal of Cleaner Production"},{"key":"key2024122007363132100_ref056","doi-asserted-by":"publisher","DOI":"10.1016\/j.jcorpfin.2023.102356","article-title":"The bright side of the internal labor market: evidence from the labor cost stickiness of firms affiliated with privately owned business groups in China","volume":"78","year":"2023","journal-title":"Journal of Corporate Finance"},{"issue":"4","key":"key2024122007363132100_ref057","doi-asserted-by":"publisher","first-page":"803","DOI":"10.1108\/SCM-09-2022-0352","article-title":"The role of technology in supply-chain decarbonisation: towards an integrated conceptual framework","volume":"28","year":"2023","journal-title":"Supply Chain Management: An International Journal"},{"issue":"3","key":"key2024122007363132100_ref058","doi-asserted-by":"publisher","first-page":"1259","DOI":"10.1111\/1467-8551.12651","article-title":"The impact of supplier instability on corporate social responsibility performance over the firm lifecycle: a social systems theory perspective","volume":"34","year":"2023","journal-title":"British Journal of Management"},{"issue":"3","key":"key2024122007363132100_ref059","doi-asserted-by":"publisher","first-page":"665","DOI":"10.5465\/amj.2007.25527425","article-title":"Rivalry between multinational enterprises: an event history approach","volume":"50","year":"2007","journal-title":"Academy of Management Journal"},{"issue":"8","key":"key2024122007363132100_ref060","doi-asserted-by":"publisher","first-page":"855","DOI":"10.1002\/joom.1162","article-title":"Competition and slack: the role of tariffs on cost stickiness","volume":"68","year":"2022","journal-title":"Journal of Operations Management"},{"key":"key2024122007363132100_ref061","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2023.108817","article-title":"Impact of supply chain digitalization on supply chain resilience and performance: a multi-mediation model","volume":"259","year":"2023","journal-title":"International Journal of Production Economics"}],"container-title":["Industrial Management &amp; Data Systems"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IMDS-05-2024-0425\/full\/xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/www.emerald.com\/insight\/content\/doi\/10.1108\/IMDS-05-2024-0425\/full\/html","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,7,24]],"date-time":"2025-07-24T21:52:18Z","timestamp":1753393938000},"score":1,"resource":{"primary":{"URL":"http:\/\/www.emerald.com\/imds\/article\/125\/1\/143-167\/1244731"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2024,10,9]]},"references-count":61,"journal-issue":{"issue":"1","published-online":{"date-parts":[[2024,10,9]]},"published-print":{"date-parts":[[2025,1,2]]}},"alternative-id":["10.1108\/IMDS-05-2024-0425"],"URL":"https:\/\/doi.org\/10.1108\/imds-05-2024-0425","relation":{},"ISSN":["0263-5577","1758-5783"],"issn-type":[{"value":"0263-5577","type":"print"},{"value":"1758-5783","type":"electronic"}],"subject":[],"published":{"date-parts":[[2024,10,9]]}}}