financial frictions arising from asymmetric information, proxied by firms? liquidity and degree of uncertainty. Measures of … intrinsic and extrinsic uncertainty are derived from firms? daily stock returns and S&P 500 index returns along with a CAPM …. Financial frictions captured by interactions between firms? cash flow and both intrinsic and CAPM-based measures of uncertainty …

-level data from Denmark, this paper argues that the high leverage, which was build up by some firms before the crisis … significant effect of high leverage is present also in subsamples defined by industry, liquidity ratio, and geography. The effect … a separate leverage or 'balance sheet' channel in addition to the effects of other variables conventionally included in …

faced by corporates between investment and leverage. It also suggests that, should the estimated gap in net revenues …

countries. Using firm-level data from 2005-2014, we postulate a non-linear corporate leverage-investment relationship and derive … thresholds beyond which leverage has a negative and significant impact on investment. The investment sensitivity of debt …

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 … negative effect of uncertainty than are mediumsized firms. The negative effect of uncertainty on large firms slightly declined …

The real options tradition originally predicted a decreasing relationship between uncertainty and investment, through … the positive effect of higher uncertainty on the trigger level for revenue relative to costs. An opposing effect on the …

many core economies. Focusing on the four largest euro-area countries, this paper investigates the role of uncertainty for … investment dynamics. By doing so, we compare five prominent uncertainty proxies put forward in the recent literature: the … uncertainty, and two indicators taking up the concept of (econometric) unpredictability. Although all uncertainty measures show …

lower exchange rate bound vis-à-vis the Euro. This unexpected change of regime induced a temporary uncertainty about future … the source of uncertainty and disentangle first and second moment effects. We find that price uncertainty affects … and suggest the use of disaggregated investment data to deepen our knowledge on the relationship between uncertainty and …