IDEAS home Printed from https://ideas.repec.org/a/ags/polgne/359101.html
   My bibliography  Save this article

Wpływ niepewności makroekonomicznej na oszczędności przedsiębiorstw

Author

Listed:
  • Nehrebecka, Natalia
  • Brzozowski, Michał

Abstract

The article aims to verify the impact of macroeconomic uncertainty and idiosyncratic shocks on corporate savings and the cash holdings of companies in Poland. The analysis is based on an unbalanced panel data for companies with at least 10 workers for the 1995–2012 period, as provided by Poland’s Central Statistical Office (GUS) in its GUS F-02 reports. To verify the impact of macroeconomic uncertainty on savings, models were estimated using the GMM estimator with HAC, and the influence of idiosyncratic shocks on corporate savings was identified with use of a robust system GMM estimator. The study shows that Polish companies tend to adapt their savings and cash resources to the level of macroeconomic uncertainty. The findings also indicate that companies maintain a security buffer in the form of accumulated savings as a precaution for fear of idiosyncratic shocks.

Suggested Citation

  • Nehrebecka, Natalia & Brzozowski, Michał, 2016. "Wpływ niepewności makroekonomicznej na oszczędności przedsiębiorstw," Gospodarka Narodowa-The Polish Journal of Economics, Szkoła Główna Handlowa w Warszawie / SGH Warsaw School of Economics, vol. 2016(5), October.
    • Handle: RePEc:ags:polgne:359101
    DOI: 10.22004/ag.econ.359101
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/359101/files/Brzozowski.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.359101?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:polgne:359101. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/irsghpl.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.