We investigate the effect of uncertainty on investment. We employ a unique dataset of 25000 Greek firms' balance sheets … uncertainty. The investment performance of 14 sectors is examined within a dynamic investment model. Robust GMM estimates of the … investment rate model reveal a high degree of heterogeneity among these sectors. Overall uncertainty affects negatively …

We investigate the effect of uncertainty on investment. We employ a unique dataset of 25000 Greek firms' balance sheets … uncertainty. The investment performance of 14 sectors is examined within a dynamic investment model. Robust GMM estimates of the … investment rate model reveal a high degree of heterogeneity among these sectors. Overall uncertainty affects negatively …

uncertainty aspect of their cash flows. These findings confirm that prior cash flow levels serve as a measure of uncertainty …

We present an integrated framework incorporating both exogenous liquidity risk in the secondary corporate bond market … values from empirical studies that volatility risk, together with deteriorating bond market liquidity, decrease both debt and …

that information uncertainty is the channel through which innovation affects idiosyncratic risk. The results are robust for …

about the relative effects of equity volatility and bond liquidity in the cross-section of corporate bond spreads. Our tests … reveal that while both volatility and liquidity effects are significant, volatility, representing ex-ante credit shock, has … the first-order impact, and liquidity represented by bond characteristics and price impact measure has the secondary …