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Driver, Ciaran, Yip, Paul and Dakhil, Nazera (1996) 'Large Company Capital Formation and Effects of Market Share Turbulence : Micro-data Evidence from the PIMS Database.' Applied Economics, 28 (6). pp. 641-651.

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Abstract

The possible effect of demand uncertainty on company investment decisions is investigated at the micro level. A standard investment function is employed and modified to incorporate demand uncertainty. The data comes from the PIMS data base on business units of large firms in concentrated markets. In dynamic panel data estimation, significance was found for a variable representing market share turbulence. In a number of industries, this variable causes a depressing effect on capital investment either on its own or in combination with indicators of vertical integration, which indicate insulation from demand uncertainty. The results constitute some of the best available evidence that demand uncertainty constraints capital investment.

Item Type: Journal Article
SOAS Departments & Centres: Departments and Subunits > School of Finance & Management
Legacy Departments > Faculty of Law and Social Sciences > School of Finance and Management
ISSN: 00036846
DOI (Digital Object Identifier): https://doi.org/10.1080/000368496328380
Date Deposited: 15 Aug 2015 15:35
URI: https://eprints.soas.ac.uk/id/eprint/20516

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