The Effect of Risk on Investment: New Evidence
Previous results on the relation between risk and investment are mixed, partly due to endogeneity. To allievate the effects of this bias, we adopt a generalized method of moments (GMM) dynamic panel estimator to investigate the relation. We find that the puzzling positive sensitivity of investment...
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| Format: | Article |
| Language: | English |
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Tuwhera Open Access Publisher
2019-02-01
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| Series: | Applied Finance Letters |
| Online Access: | https://ojs.aut.ac.nz/applied-finance-letters/article/view/122 |