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Using tools from computational linguistics, we construct new measures of the impact of Brexit on listed firms in the … United States and around the world; these measures are based on the proportion of discussions in quarterly earnings …
Persistent link: https://www.econbiz.de/10012843867
We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual … volatility in a manner that is highly indicative of political risk. Firms exposed to political risk retrench hiring and … of sector and time fixed effects, nor by heterogeneous exposure of individual firms to aggregate political risk. The …
Persistent link: https://www.econbiz.de/10012866771
We adapt simple tools from computational linguistics to construct a new measure of political risk faced by individual … volatility in a manner that is highly indicative of political risk. Firms exposed to political risk retrench hiring and … political risk. The dispersion of this firm-level political risk increases significantly at times with high aggregate political …
Persistent link: https://www.econbiz.de/10012968153
Using tools from computational linguistics, we construct new measures of the impact of Brexit on listed firms in the … United States and around the world; these measures are based on the proportion of discussions in quarterly earnings …
Persistent link: https://www.econbiz.de/10012174656
Persistent link: https://www.econbiz.de/10012177023
Persistent link: https://www.econbiz.de/10014486425
We propose a text-based method for measuring and analyzing the international propagation of uncertainty shocks at the firm level. We apply this method to estimate the impact of Brexit-related uncertainty and find widespread reverberations on listed firms in 81 countries. International firms most...
Persistent link: https://www.econbiz.de/10013324715
Persistent link: https://www.econbiz.de/10012212822
[enter Abstract Body]Constructing a simple general equilibrium model, I examine the effect of local and international political uncertainty on financial flexibility and firm value. The model predicts that political uncertainty will have a negative effect on both. I then empirically examine the...
Persistent link: https://www.econbiz.de/10012835801
This study investigates the effects of firm-level political risk on corporate investments and operating efficiencies … for industrially diversified and focused firms. Using firm-level political risk data from Hassan et al.(2019), we document … that both political risk and diversification lead to reduced corporate investments and profitability. However, diversified …
Persistent link: https://www.econbiz.de/10012830887