Uncertainty determinants of firm investment

Christopher F. Baum; Mustafa Caglayan; Oleksandr Talavera

doi:10.1016/j.econlet.2007.05.004

Uncertainty determinants of firm investment

Christopher F. Baum, Mustafa Caglayan, Oleksandr Talavera

Research output: Contribution to journal › Article › peer-review

58 Citations (Scopus)

Abstract

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 language	English
Pages (from-to)	282-287
Journal	Economics Letters
Volume	98
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2007.05.004
Publication status	Published - 1 Mar 2008

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title = "Uncertainty determinants of firm investment",

abstract = "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.",

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AB - 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.

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DO - 10.1016/j.econlet.2007.05.004

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EP - 287

JO - Economics Letters

JF - Economics Letters

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Uncertainty determinants of firm investment

Abstract

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