[go: up one dir, main page]

IDEAS home Printed from https://ideas.repec.org/a/taf/apeclt/v29y2022i15p1369-1377.html
   My bibliography  Save this article

Policy uncertainty and intellectual capital investment

Author

Listed:
  • Khanh Hoang
  • Thanh Tat Tran
Abstract
This paper investigates the relationship between economic policy uncertainty (EPU) and corporate intellectual capital (IC) investment. The empirical results, which are based on a wide range of econometric tests, demonstrate a negative impact of EPU on IC investment, thus lending support to the notion that EPU hinders corporate IC investment. The analysis also indicates that the negative impact of EPU on IC investment varies cross-sectionally. It is prominent only in large firms and financially constrained firms, suggesting such firms reduce or delay IC investment during heightened EPU periods. EPU does not significantly affect the IC investment in small firms and firms with less financial constraints. Our findings are broadly consistent with existing studies in the literature and remain qualitatively unchanged after a battery of robustness and endogeneity tests.

Suggested Citation

  • Khanh Hoang & Thanh Tat Tran, 2022. "Policy uncertainty and intellectual capital investment," Applied Economics Letters, Taylor & Francis Journals, vol. 29(15), pages 1369-1377, September.
  • Handle: RePEc:taf:apeclt:v:29:y:2022:i:15:p:1369-1377
    DOI: 10.1080/13504851.2021.1934383
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13504851.2021.1934383
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/13504851.2021.1934383?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
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Qing He & Yaqin Liu & Qian Yu & Chao Wei, 2022. "Risk Dominance Analysis of R&D Investment Cooperation in Dynamic Option Game," Sustainability, MDPI, vol. 15(1), pages 1-21, December.
    2. Huynh, Nhan & Le, Quynh Nga & Tran, Quang Thien, 2024. "Firm-level political risk and intellectual capital investment: Does managerial ability matter?," International Review of Financial Analysis, Elsevier, vol. 91(C).

    More about this item

    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:taf:apeclt:v:29:y:2022:i:15:p:1369-1377. 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAEL20 .

    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.