investment irreversibility amplify the negative effect of uncertainty. The inverted U-shaped curve of the uncertainty effect …In this paper, we analyze the effect of financial uncertainty on corporate investment using firm-level panel data from … the Republic of Korea. We find that financial uncertainty has a significant negative effect on corporate investment, and …

constraints and investment irreversibility amplify the negative effect of uncertainty. The inverted U-shaped curve of the …In this study, we analyse the effect of financial uncertainty on corporate investment using firm-level panel data from … the Republic of Korea. We find that financial uncertainty has a significant negative effect on corporate investment, and …

explore this possibility, I develop a theory that unifies models of investment choice, informal risk sharing, and formal … inefficiencies. First, borrowers free-ride on their partners, making risky investments without compensating partners for this risk …. Second, the addition of peer-monitoring overcompensates, leading to sharp reductions in risk-taking and profitability. Equity …

investment and expected returns. In imperfectly competitive industries, a firm's exposure to systematic risk is jointly affected … by its own investment strategy and the investment strategies of its industry peers, such that the dynamics of its …

This study examines how the effect of uncertainty on capital investment varies between focused firms and conglomerate … frictions, I find that uncertainty, measured by industry-level stock return volatility, has a negative effect on investment … (statistically insignificant) relationship between uncertainty and investment among the conglomerate firms that trade at a discount …

Using a news-based index of geopolitical risk (GPR), we document a strong negative relationship between firm …-level corporate investment and GPR. When the GPR index doubles, investment rate in the next quarter declines by 14% of its sample mean …. The effect is more pronounced for firms with more irreversible investment or higher market power, confirming the real …

dispersion of idiosyncratic investment returns. An increase in uncertainty delays cross-border flows to the affected country. Yet …This paper studies the impact of uncertainty on cross-border investments. We build a data set of firm-level outward … Foreign Direct Investments between 2000 and 2015. We create a time and country varying measure of uncertainty based on the …