Uncertainty determinants of firm investment

Christopher F. Baum, Mustafa Caglayan, Oleksandr Talavera

    Research output: Contribution to journalArticlepeer-review

    53 Citations (Scopus)


    We investigate the impact of measures of uncertainty on firms' capital investment behavior using a panel of U.S. firms. Increases in firm-specific and CAPM-based measures have a significant negative effect on investment spending, while market-based uncertainty has a positive impact.
    Original languageEnglish
    Pages (from-to)282-287
    JournalEconomics Letters
    Issue number3
    Publication statusPublished - 1 Mar 2008


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