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The Impact of Perceived Expectations and Uncertainty on Firm Investment

  • Mark Koetse

    ()

  • Arno Vlist

    ()

  • Henri Groot

    ()

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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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
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100338

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  1. Marco van Gelderen & Roy Thurik & Micheal Frese, 2000. "Strategies, uncertainty and performance of small business startups," Scales Research Reports H200001, EIM Business and Policy Research.
  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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