Chinese economic policy uncertainty and US corporate investment

被引：12

作者：

Lee, Kiryoung ^{[1
]}

Jeon, Yoontae ^{[2
]}

Samarbakhsh, Laleh ^{[2
]}

Kim, Insik ^{[3
]}

机构：

[1] Cheongju Univ, Cheongju, South Korea

[2] Ryerson Univ, Ted Rogers Sch Management, 350 Victoria St, Toronto, ON M5B 2K3, Canada

[3] Jeonju Univ, Jeonjui Si, South Korea

来源：

INTERNATIONAL REVIEW OF FINANCE | 2021年 / 21卷 / 04期

关键词：

Chinese economic policy uncertainty; corporate investment; global economy; POLITICAL UNCERTAINTY; IMPORT COMPETITION; MERGERS;

D O I：

10.1111/irfi.12335

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Prior findings suggest that firms reduce investment when they face a higher degree of domestic economic policy uncertainty. In this paper, we provide a new finding that corporate investment of U.S. firms also declines when Chinese economic policy uncertainty rises, after controlling for U.S. economic policy uncertainty. Additional analysis suggests that the result is stronger for firms located in states with larger exports to China, implying the importance of global supply chain link in understanding firms' investment decisions.

引用

页码：1519 / 1528

页数：10

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