Strategic growth option, uncertainty, and R&D investment
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DOI: 10.1016/j.irfa.2017.03.002
Abstract: This paper investigates the effect of uncertainty on R&D investment. We find that firms invest more in R&D when they face higher uncertainty, as measured by idiosyncratic return volatility. We further show that the effect… read more here.
Keywords: strategic growth; growth option; uncertainty investment; uncertainty ... See more keywords
Political Uncertainty and Investment: Causal Evidence from U.S. Gubernatorial Elections
Sign Up to like & getrecommendations! Published in 2017 at "Journal of Financial Economics"
DOI: 10.1016/j.jfineco.2016.01.034
Abstract: I examine the link between political uncertainty and firm investment using U.S. gubernatorial elections as a source of plausibly exogenous variation in uncertainty. Investment declines 5% before all elections and up to 15% for subsamples… read more here.
Keywords: gubernatorial elections; uncertainty; political uncertainty; investment ... See more keywords