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the literature, our empirical findings reveal a negative impact of firm-specific uncertainty on investment. However … adjust their investment if the realized situation is better than expected, which suggests that the uncertainty effect …This paper analyzes how firm-specific uncertainty affects firms’ propensity to invest. We measure firm …
Persistent link: https://www.econbiz.de/10011445660
adjust investment if the realised situation is better than expected suggesting that the uncertainty component of the forecast …–2011 affect firms’ investment propensity. Understanding how forecast errors affect firm investment behaviour is key to mitigate … impact of absolute forecast errors on investment. Strikingly, asymmetries arise depending on the size and direction of the …
Persistent link: https://www.econbiz.de/10012203080
Persistent link: https://www.econbiz.de/10013168189
-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated … informed. Moreover, young firms tend to wait long before entering or exiting the market faced with high uncertainty about their …
Persistent link: https://www.econbiz.de/10012258487
. Fifth, our survey evidence suggests that elevated uncertainty is exerting only mild restraint on capital investment plans …We examine several measures of uncertainty to make five points. First, equity market traders and executives at … nonfinancial firms have shared similar assessments about one-year-ahead uncertainty since the pandemic struck. Both the one …
Persistent link: https://www.econbiz.de/10013186704
We study how the quality of investors' information across horizons influences investment. In our theory, managers care … about how investment is impounded in current stock prices. Because prices imperfectly reflect investment’s value, they under …
Persistent link: https://www.econbiz.de/10014236279
This study investigates the utility of business uncertainty indicators as predictive tools for forecasting economic … the dynamics of economic uncertainty and its impact on overall economic performance is of paramount importance. The study … the first half of 2024. Given the importance of uncertainty in shaping economic outcomes, the central research question of …
Persistent link: https://www.econbiz.de/10015396286
This paper explores how changes in macroeconomic uncertainty have affected the decision to reply to the European … Central Bank's Survey of Professional Forecasters (ECB's SPF). The results suggest that higher (lower) aggregate uncertainty … more individual uncertainty seem to have a lower likelihood of replying to the survey. Consequently, measures of …
Persistent link: https://www.econbiz.de/10011492744
This paper explores how changes in macroeconomic uncertainty have affected the decision to reply to the European … Central Bank’s Survey of Professional Forecasters (ECB’s SPF). The results suggest that higher (lower) aggregate uncertainty … more individual uncertainty seem to have a lower likelihood of replying to the survey. Consequently, measures of …
Persistent link: https://www.econbiz.de/10011550240
This paper sheds light on the impact of global macroeconomic uncertainty on the euro area economy. We build on the … methodology proposed by Jurado et al. (2015) and estimate global as well as country-specific measures of economic uncertainty for … to a wide range of historical events generally associated with heightened uncertainty. In addition, following Pier and …
Persistent link: https://www.econbiz.de/10012503567