Electoral Uncertainty and Corporate Investment: Evidence from European Countries
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F21%3A43920115" target="_blank" >RIV/62156489:43110/21:43920115 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.31577/ekoncas.2021.06.05" target="_blank" >https://doi.org/10.31577/ekoncas.2021.06.05</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.31577/ekoncas.2021.06.05" target="_blank" >10.31577/ekoncas.2021.06.05</a>
Alternative languages
Result language
angličtina
Original language name
Electoral Uncertainty and Corporate Investment: Evidence from European Countries
Original language description
The aim of the paper is to identify whether electoral uncertainty affects corporate investment, which may cause cyclical fluctuations in European countries. More specifically, the paper focuses on the development of a net fixed-asset investment from 2006 to 2015. Electoral uncertainty is associated with the parliamentary election term since this is the most common election type. The paper is focused on 268,000 firms within the secondary sector (NACE Rev. 2 Sections C - F; Amadeus database). The results suggest that electoral uncertainty may have a negative impact on investment in the secondary sector. Comparing individual industries shows that the negative impact may occur in the construction industry, whereas the effect is statistically inconclusive in the case of manufacturing. Considering the size of the enterprises, electoral uncertainty has a greater impact on SMEs, generally in the secondary sector and, more specifically, in construction. Extending the topic of the economic consequences of the political cycle, including the impact of electoral uncertainty on corporate investment across sectors and business sizes, can be considered as the main contribution of the article.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50206 - Finance
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2021
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Ekonomický časopis
ISSN
0013-3035
e-ISSN
0013-3035
Volume of the periodical
69
Issue of the periodical within the volume
6
Country of publishing house
SK - SLOVAKIA
Number of pages
20
Pages from-to
647-666
UT code for WoS article
000697125800005
EID of the result in the Scopus database
2-s2.0-85139974213