Industry-wide versus firm-specific uncertainty and investment: British company panel data evidence

Andrew Henley; Alan Carruth; Andy Dickerson

doi:10.1016/S0165-1765(02)00169-6

Industry-wide versus firm-specific uncertainty and investment: British company panel data evidence

Andrew Henley, Alan Carruth, Andy Dickerson

Aberystwyth Business School

University of Kent

Research output: Contribution to journal › Article › peer-review

Abstract

This paper presents evidence on the prediction that the impacts of firm-specific and industry-wide uncertainty on investment will be different. Results show that these work in opposing directions and that the effect of industry-specific uncertainty is stronger in concentrated industries.

Original language	English
Pages (from-to)	87-92
Number of pages	6
Journal	Economics Letters
Volume	78
Issue number	1
DOIs	https://doi.org/10.1016/S0165-1765(02)00169-6
Publication status	Published - 01 Jan 2003

Keywords

Investment
Uncertainty
Irreversibility

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title = "Industry-wide versus firm-specific uncertainty and investment: British company panel data evidence",

abstract = "This paper presents evidence on the prediction that the impacts of firm-specific and industry-wide uncertainty on investment will be different. Results show that these work in opposing directions and that the effect of industry-specific uncertainty is stronger in concentrated industries.",

keywords = "Investment, Uncertainty, Irreversibility",

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AU - Dickerson, Andy

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AB - This paper presents evidence on the prediction that the impacts of firm-specific and industry-wide uncertainty on investment will be different. Results show that these work in opposing directions and that the effect of industry-specific uncertainty is stronger in concentrated industries.

KW - Investment

KW - Uncertainty

KW - Irreversibility

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DO - 10.1016/S0165-1765(02)00169-6

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SP - 87

EP - 92

JO - Economics Letters

JF - Economics Letters

IS - 1

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Industry-wide versus firm-specific uncertainty and investment: British company panel data evidence

Abstract

Keywords

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