490
Views
3
CrossRef citations to date
0
Altmetric
Research Article

Economic policy uncertainty, corporate diversification, and corporate investment

ORCID Icon, ORCID Icon & ORCID Icon

References

  • Aivazian, V. A., M. M. Rahaman, and S. Zhou. 2019. “Does Corporate Diversification Provide Insurance against Economic Disruptions?” Journal of Business Research 100 (March 2018): 218–233. doi:10.1016/j.jbusres.2019.03.044.
  • Baker, S. R., N. Bloom, and S. J. Davis. 2016. “Measuring Economic Policy Uncertainty.” Quarterly Journal of Economics 131 (4): 1593–1636. doi:10.1093/qje/qjw024.
  • Berger, P. G., and E. Ofek. 1995. “Diversification’s Effect on Firm Value.” Journal of Financial Economics 37 (1): 39–65. doi:10.1016/0304-405X(94)00798-6.
  • Caldara, D., M. Iacoviello, P. Molligo, A. Prestipino, and A. Raffo. 2020. “The Economic Effects of Trade Policy Uncertainty.” Journal of Monetary Economics 109: 38–59. doi:10.1016/j.jmoneco.2019.11.002.
  • Chen, P. F., C. C. Lee, and J. H. Zeng. 2019. “Economic Policy Uncertainty and Firm Investment: Evidence from the U.S. Market.” Applied Economics 51 (31): 3423–3435. doi:10.1080/00036846.2019.1581909.
  • Davis, S. 2016. “An Index of Global Economic Policy Uncertainty.” National Bureau of Economic Research 22740. doi:10.3386/w22740.
  • Gulen, H., and M. Ion. 2016. “Policy Uncertainty and Corporate Investment.” Review of Financial Studies 29 (3): 523–564. doi:10.1093/rfs/hhv050.
  • Hadlock, C. J., and J. R. Pierce. 2010. “New Evidence on Measuring Financial Constraints: Moving beyond the KZ Index.” Review of Financial Studies 23 (5): 1909–1940. doi:10.1093/rfs/hhq009.
  • Hoang, K., C. Nguyen, and H. Zhang. 2021. “How Does Economic Policy Uncertainty Affect Corporate Diversification?” International Review of Economics and Finance 72: 254–269. doi:10.1016/j.iref.2020.11.008.
  • Ilyas, M., A. Khan, M. Nadeem, and M. T. Suleman. 2021. “Economic Policy Uncertainty, Oil Price Shocks and Corporate Investment: Evidence from the Oil Industry.” Energy Economics 97. doi:10.1016/j.eneco.2021.105193.
  • Kuppuswamy, V., and B. Villalonga. 2016. “Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2007-2009 Financial Crisis.” Management Science 62 (4): 905–923. doi:10.1287/mnsc.2015.2165.
  • Martin, J. D., and A. Sayrak. 2003. “Corporate Diversification and Shareholder Value: A Survey of Recent Literature.” Journal of Corporate Finance 9 (2): 37–57. doi:10.1016/s0929-1199(01)00053-0.
  • Matvos, G., and A. Seru. 2014. “Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates.” Review of Financial Studies 27 (4): 1143–1189. doi:10.1093/rfs/hhu005.
  • Rajan, R., H. Servaes, and L. Zingales. 2000. “The Cost of Diversity: The Diversification Discount and Inefficient Investment.” Journal of Finance 55 (1): 35–80. doi:10.1111/0022-1082.00200.
  • Rosenbaum, P. R., and D. B. Rubin. 1983. “The Central Role of the Propensity Score in Observational Studies for Causal Effects.” Biometrika 70 (1): 41–55. doi:10.1093/biomet/70.1.41.
  • Stein, J. C. 2003. “Chapter 2 Agency, Information and Corporate Investment.” In Handbook of the Economics of Finance 1: 111–165. doi:10.1016/S1574-0102(03)01006-9.
  • Suh, H., and J. Y. Yang. 2021. “Global Uncertainty and Global Economic Policy Uncertainty: Different Implications for Firm Investment.” Economics Letters 200: 109767. doi:10.1016/j.econlet.2021.109767.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.