Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/311892 
Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] Review of Managerial Science [ISSN:] 1863-6691 [Volume:] 17 [Issue:] 5 [Publisher:] Springer [Place:] Berlin, Heidelberg [Year:] 2022 [Pages:] 1863-1898
Verlag: 
Springer, Berlin, Heidelberg
Zusammenfassung: 
Using a sample of comparably sized public listed and private firms from nine European countries, we show that public firms reduce their investments by about 50% more than private firms in response to an increase in policy-related uncertainty. We find suggestive evidence that this can be explained by public firms' management being typically subject to greater shareholder scrutiny than private firms' management. Furthermore, only public firms invest more efficiently when confronted with uncertainty. Thus, private firms may benefit from emulating the decision-making processes of public firms in uncertain times.
Schlagwörter: 
Uncertainty
Investment
Public versus private firms
Shareholder scrutiny
JEL: 
D80
D91
E22
E66
G38
Persistent Identifier der Erstveröffentlichung: 
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Dokumentart: 
Article
Dokumentversion: 
Published Version

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