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The Impact of Perceived Expectations and Uncertainty on Firm Investment

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Author Info

  • Mark Koetse

    ()

  • Arno Vlist

    ()

  • Henri Groot

    ()

Abstract

This paper analyses the (differential) impact of perceived expectations and uncertainty on investment spending in small and large firms. We analyse two types of investment, viz. aggregate investment and investment in energy-saving technologies, using Dutch firm level data. The results show that expectations and uncertainty about input- and output prices and domestic demand have substantial but different effects on investment spending in firms of different sizes. Furthermore, we find evidence, at least for small firms, that there are important differences between the effects of uncertainty about input and output variables. Copyright Springer 2006

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File URL: http://hdl.handle.net/10.1007/s11187-005-3201-3
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Bibliographic Info

Article provided by Springer in its journal Small Business Economics.

Volume (Year): 26 (2006)
Issue (Month): 4 (05)
Pages: 365-376

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Handle: RePEc:kap:sbusec:v:26:y:2006:i:4:p:365-376

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Web page: http://www.springerlink.com/link.asp?id=100338

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  1. van Gelderen, Marco & Frese, Michael & Thurik, Roy, 2000. " Strategies, Uncertainty and Performance of Small Business Startups," Small Business Economics, Springer, vol. 15(3), pages 165-81.
  2. Lensink, Robert & Steen, Paul van & Sterken, Elmer, 2000. "Is size important for the investment-uncertainty relationship? : an empirical analyses for Dutch firms," Research Report 00E03, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
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Cited by:
  1. Mark J. Koetse & Henri L.F. de Groot & Raymond J.G.M. Florax, 2006. "The Impact of Uncertainty on Investment: A Meta-Analysis," Tinbergen Institute Discussion Papers 06-060/3, Tinbergen Institute.
  2. Vivek Ghosal & Yang Ye, 2013. "Business Decision-Making under Uncertainty: Evidence from Employment and Number of Businesses," CESifo Working Paper Series 4312, CESifo Group Munich.

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