On the investment sensitivity of debt under uncertainty

Baum, Christopher F., Caglayan, Mustafa and Talavera, Oleksandr (2010) On the investment sensitivity of debt under uncertainty. Economic Letters, 106 (1). pp. 25-27.

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Abstract

We investigate the impact of debt on a panel of U.S. manufacturing firms' capital investment behavior as the underlying firm-specific and market-level uncertainty changes. Our estimates show that the influence of leverage on capital investment may be stimulating or mitigating depending on the effects of uncertainty.

Item Type:	Article
Faculty \ School:	Faculty of Social Sciences > School of Economics
Depositing User:	Gina Neff
Date Deposited:	16 Nov 2010 16:01
Last Modified:	15 Jun 2023 15:30
URI:	https://ueaeprints.uea.ac.uk/id/eprint/10911
DOI:	10.1016/j.econlet.2009.09.015

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