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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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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