-worst strategy in a discounted payback period framework is applied to examine the effect of uncertainty on the time horizon and … investment. The model shows that increasing uncertainty will reduce the time horizon as well as investment. Moreover, the …

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 …

We investigate the analytical and empirical linkages between cash flow, uncertainty and firms' capital investment … behavior. Our empirical approach constructs measures of own- and market-specific uncertainty from firms' daily stock returns … important firm-specific variables, uncertainty is an important determinant of firms' investment behavior. Depending on the …

We investigate the impact of measures of uncertainty on firms' capital investment behavior using a panel of U.S. firms …-based uncertainty has a positive impact. …

We study the interactions of banks and ?rms within a leverage cycle to understand how capacity utilisation and capital … investment interact with funding costs, leverage by banks and ?rms, and liquidity. We show in a simulation study that when ?rms … levels, the real economy cycles around a leverage cycle. …

related to investment and leverage regressions. The estimators perform well in Monte Carlos calibrated to resemble the data …

, ultimate lenders and financial intermediaries. The model is used to investigate the impact of uncertainty about the likelihood … of governmental bailouts on leverage, interest rates, the volume of defaults and the real economy. The distinction … between risk and uncertainty is implemented by applying the multiple priors framework to beliefs about the probability of …

, ultimate lenders and financial intermediaries. The model is used to investigate the impact of uncertainty about the likelihood … of governmental bailouts on leverage, interest rates, the volume of defaults and the real economy. The distinction … between risk and uncertainty is implemented by applying the Gilboa-Schmeidler maxmin with multiple priors framework to lenders …

demand conditions (the accelerator effect) but financial factors and heightened uncertainty have also played a role. In …