On the investment sensitivity of debt under uncertainty

C.F. Baum, M. Caglayan, O. Talavera

Research output: Contribution to journalArticlepeer-review

14 Citations (Scopus)

Abstract

We investigate the impact of debt on a panel of U.S. manufacturing firms' capital investment behavior as the underlying firm-specific and market-level uncertainty changes. Our estimates show that the influence of leverage on capital investment may be stimulating or mitigating depending on the effects of uncertainty.
Original languageEnglish
Pages (from-to)25-27
JournalEconomics Letters
Volume106
Issue number1
DOIs
Publication statusPublished - 2010

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