U.K. economic policy uncertainty and innovation activities: A firm-level analysis
نویسندگان
چکیده
Our study investigates the effects of economic policy uncertainty (EPU) on firm-level innovation activities. Utilizing news-based government EPU index Baker et al. (2016) and a panel sample 213 UK largest non-financial firms over period 1999-2018, we find robust evidence that has caused substantial reduction in firms’ investment Moreover, our results further show such lower level corporate leads to decline their shareholder value, which forms triangle linkage among EPU, market value.
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ژورنال
عنوان ژورنال: Journal of Economics and Business
سال: 2023
ISSN: ['2621-5667', '2615-3726']
DOI: https://doi.org/10.1016/j.jeconbus.2022.106093