, uncertainty reduces corporate investment and employment. Using a novel firm-level measure of cash flow uncertainty, we find … empirically that uncertainty has a strong negative impact on corporate employment and investment in both tangible and intangible …, investment in tangibles would increase by 1.54%, and investment in intangibles would increase by1.29%. Our findings are robust to …

We investigate the analytical and empirical linkages between cash flow, uncertainty, and firms' capital investment … important firm-specific variables, uncertainty is an important determinant of firms' investment behavior. Depending on the … measure of uncertainty used, investment may be stimulated or curtailed by the effects of uncertainty on its own or through its …