Industry-wide versus firm-specific uncertainty and investment: British company panel data evidence

被引：20

作者：

Henley, A

Carruth, A

Dickerson, A

机构：

[1] Univ Wales, Sch Business & Management, Aberystwyth SY23 3BY, Ceredigion, Wales

[2] Univ Kent, Dept Econ, Canterbury, Kent, England

来源：

ECONOMICS LETTERS | 2003年 / 78卷 / 01期

基金：

英国经济与社会研究理事会;

关键词：

investment; uncertainty; irreversibility;

D O I：

10.1016/S0165-1765(02)00169-6

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper presents evidence on the prediction that the impacts of firm-specific and industry-wide uncertainty on investment will be different. Results show that these work in opposing directions and that the effect of industry-specific uncertainty is stronger in concentrated industries. (C) 2002 Elsevier Science B.V. All rights reserved.

引用

页码：87 / 92

页数：6

共 8 条

[1] Options, the value of capital, and investment [J].