期刊名称：International Journal of Economics and Empirical Research (IJEER)
印刷版ISSN：2311-3871
电子版ISSN：2310-5232
出版年度：2016
卷号：4
期号：3
页码：124-132
出版社：The Economics and Social Development Organization (TESDO)
摘要：Purpose: This study investigates the relationship between uncertainty and firm’s level investment by using the data from Pakistani textile sector for period of 2000 to 2013. Methodology: The data is collected from financial statements of companies and official website of Karachi stock exchange. Uncertainty is divided into three dimensions e.g. firm level uncertainty, market level uncertainty and economic level uncertainty. Uncertainties are measured by volatility of firm’s specific stock returns, volatility of market returns, and exchange rate volatility respectively. The collected data was measured through random effect model. Findings: The results showed that firm level uncertainty and market level uncertaintyare significantly andpositively related to firmlevel investment, but economic level uncertainty is found negatively related to firm level investment. Recommendations: The policies should be made for long term to secure firms from macro level uncertainty.
关键词：: Uncertainty; Investment; Random effect model
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