Firms' investment decisions in response to demand and price uncertainty

Vermeulen, Philip; Fuss, Catherine Isabelle

[journal article]

dc.contributor.author	Vermeulen, Philip	de
dc.contributor.author	Fuss, Catherine Isabelle	de
dc.date.accessioned	2011-04-01T03:44:00Z	de
dc.date.accessioned	2012-08-29T23:07:57Z
dc.date.available	2012-08-29T23:07:57Z
dc.date.issued	2008	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/24057
dc.description.abstract	We investigate the effect of demand and price uncertainty on firms' planned and realized investment from a panel of manufacturing firms. Uncertainty measures are derived from firms' own expectations about demand and prices and firm's sales. We find that demand uncertainty at the time of planning depresses planned and subsequent realized investment. Firms do not revise their plans due to demand uncertainty at the time of spending, suggesting that reducing demand uncertainty will only have lagged effects on investment. We do not find any effect of price uncertainty. Our results are consistent with the behavior of monopolistic firms with irreversible capital.	en
dc.language	en	de
dc.subject.ddc	Wirtschaft	de
dc.subject.ddc	Economics	en
dc.subject.other	investment; uncertainty; real options; survey data; panel data
dc.title	Firms' investment decisions in response to demand and price uncertainty	en
dc.description.review	begutachtet (peer reviewed)	de
dc.description.review	peer reviewed	en
dc.source.journal	Applied Economics	de
dc.source.volume	40	de
dc.publisher.country	USA
dc.source.issue	18	de
dc.subject.classoz	Management Science	en
dc.subject.classoz	Political Economy	en
dc.subject.classoz	Management	de
dc.subject.classoz	Volkswirtschaftslehre	de
dc.identifier.urn	urn:nbn:de:0168-ssoar-240571	de
dc.date.modified	2011-04-04T10:40:00Z	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	en
ssoar.gesis.collection	SOLIS;ADIS	de
ssoar.contributor.institution	http://www.peerproject.eu/	de
internal.status	3	de
dc.type.stock	article	de
dc.type.document	journal article	en
dc.type.document	Zeitschriftenartikel	de
dc.rights.copyright	f	de
dc.source.pageinfo	2337-2351
internal.identifier.classoz	1090401
internal.identifier.classoz	1090300
internal.identifier.journal	21	de
internal.identifier.document	32
internal.identifier.ddc	330
dc.identifier.doi	https://doi.org/10.1080/00036840600959909	de
dc.description.pubstatus	Postprint	en
dc.description.pubstatus	Postprint	de
internal.identifier.licence	7
internal.identifier.pubstatus	2
internal.identifier.review	1
internal.check.abstractlanguageharmonizer	CERTAIN
internal.check.languageharmonizer	CERTAIN_RETAINED

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Volkswirtschaftslehre (allgemein)
Political Economy (general)
Management
Management Science

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