Abstract: In the current era of globalization,Chinese enterprises are increasingly expanding their operations overseas to better utilize global resources,enhance their core competitiveness,and achieve sustainable development. This trend is supported by China's national strategy to promote high-standard opening-up and to deepen international economic cooperation. However,the complex and volatile international economic environment,characterized by trade protectionism,geopolitical tensions,and macroeconomic uncertainties,poses significant challenges to the overseas operations of Chinese enterprises. Against this backdrop,understanding how overseas operations influence corporate expense decisions becomes crucial for ensuring the healthy and orderly development of enterprises and for implementing national strategies such as the Belt and Road Initiative. Expense decisions are a critical component of corporate management,directly affecting resource allocation and long-term development. When operating overseas,enterprises face a more complex and uncertain environment,making the scientific nature of expense decisions essential for the success of overseas operations. Previous research has shown that firms may adjust their expense structures in response to various external factors,such as market conditions,regulatory environments,and competitive pressures. However,the specific impact of overseas operations on expense decisions remains underexplored,especially in the context of Chinese firms. This gap in the literature motivates the current study,which aims to investigate how overseas operations influence corporate expense stickiness—a measure of how expenses adjust asymmetrically in response to changes in business conditions. Understanding this relationship is important for both theoretical advancement and practical application,as it provides insights into how firms optimizes their expense management strategies in a global context. The study employs a comprehensive dataset of Chinese A-share listed firms from 2008 to 2023 to empirically examine the relationship between overseas operations and corporate expense stickiness. The findings reveal several key insights:Firstly，The research shows that overseas operations significantly enhance a firm's ability to mitigate risks. By diversifying their operations across different markets,firms can better manage and hedge against various risks,leading to an increase in expense stickiness. This suggests that firms are more likely to maintain higher levels of expenses even when facing declines in revenue,as they anticipate potential future gains from their overseas activities. Secondly,the study further explores the impact of overseas operations in different regions. It finds that the effect of overseas operations on expense stickiness is morepronounced for firms operating in OECD countries and those operating in both OECD and non-OECD countries simultaneously. This indicates that the quality of the institutional environment and market conditions in OECD countries may play a significant role in influencing firms' expense decisions. Thirdly,The research also distinguishes between different types of expenses and finds that the impact of overseas operations is more significant on cost stickiness rather than on selling,general,and administrative (SG&A) expense stickiness. This suggests that the primary mechanism through which overseas operations influence expense stickiness is by affecting production and operational costs,rather than through changes in SG&A expenses. Finally,from the perspective of the moderating role of environmental factor,the study examines how the impact of overseas operations on expense stickiness is moderated by various environmental factors. It finds that the positive effect of overseas operations on expense stickiness is more evident during periods of high economic uncertainty,in industries with high competition,and in regions with high market segmentation. This implies that firms are more likely to adjust their expense structures in response to overseas operations when facing greater external challenges and uncertainties. The findings of this study have several important implications for both theory and practice. Theoretically,the study enriches the literature on the economic consequences of overseas operations by providing new insights into how these operations influence corporate expense decisions. It extends the understanding of expense stickiness by highlighting the role of overseas operations as a strategic tool for risk management and resource allocation. The study also contributes to the broader literature on international business by demonstrating the complex interplay between global expansion and internal financial management. Practically,the results offer valuable guidance for firms considering overseas expansion. They suggest that while overseas operations can enhance risk-mitigation capabilities and support long-term growth,they also require careful management of expenses to ensure financial sustainability. Firms should be aware of the potential increase in expense stickiness and adjust their strategies accordingly,especially in challenging economic environments. Additionally,the findings highlight the importance of considering regional differences and industry characteristics when making overseas investment decisions. In conclusion,this study provides a comprehensive analysis of how overseas operations influence corporate expense decisions,shedding light on the mechanisms and conditions under which these effects occur. It offers valuable insights for both researchers and practitioners interested in understanding the financial implications of global business expansion