significant amplifying role for market uncertainty in the relation between sentiment and aggregate investment. A one …-standard-deviation increase in uncertainty more than doubles the effect of sentiment on investment. Moreover, allowing uncertainty …The effects of sentiment should be strongest during times of heightened valuation uncertainty. As such, we document a …

announcement return is negatively correlated to future investment only if there is time-varying uncertainty. Consistent with the …We argue the earnings announcement premium is a measure of firm-specific uncertainty aversion. Our stylized model shows … earnings announcements, as pure news events, are priced only if investors are uncertainty averse; further, the earnings …

premium; we find that it increases the value of the real optionto delay an investment and, thus, influences investments … is more important for investment-grade firms, which have relatively higher exposureto systematic variance risk. This … premium helps us understand an otherwise surprisingpattern: investments are lower for investment-grade firms with better …

spectrum among the countries of this group because of the relevance of this information to investors, traders and policy makers …

This paper investigates the impact of economic policy uncertainty (EPU) on firms’ investment sensitivity to their peers …’ stock prices. We find that investment increasingly responds to the variation of peers’ prices during the high policy … uncertainty period in China. To deal with the increasing uncertainty, managers need more information when making investment …

financial market that features volatility uncertainty. To have a mathematical consistent framework we use the notion of G … uncertainty the market is not complete any more. We establish the interval of no-arbitrage prices for general European contingent … uncertainty ; G-Brownian motion stochastic calculus …