文章基本信息

标题：The nexus between determinants of investment and firm performance moderated by economic policy uncertainty: Evidence from the energy sector of Pakistan
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作者：Abdul Quddus ; Drahomira Pavelkova ; Sarfraz Hussain 等
期刊名称：Academy of Accounting and Financial Studies Journal
印刷版ISSN：1096-3685
出版年度：2022
卷号：26
期号：2
页码：1-13
语种：English
出版社：The DreamCatchers Group, LLC
摘要：This study examines the nexus between determinants of investment and firm performance moderated by Economic Policy Uncertainty (EPU) with a sample of 43 chemical and pharmaceutical firms in Pakistan for 2013-2018. We are using two proxies of ﬁrm performance, such as Tobin’s Q and Return on Assets. We ﬁnd that the e�?ect of EPU on determinants of investment and ﬁrm performance is signiﬁcant and negative to Tobin’s Q and positive and signiﬁcant to ROA. To fix the endogeneity problem, the System-GMM estimate is used since unreported findings indicate heteroscedasticity and autocorrelation. This article also provides policy implications for potential investors and policymakers.
关键词：Investment;Economic Policy Uncertainty;Performance;Borrowing;Decision Makin