TY  - JOUR
T1  - The Impact of Economic Policy Uncertainty on Corporate Investment Decisions
AU  - Khan, Muhammad Shafiq
AU  - Bashir, Malik Fahim
AU  - Akram, Muhammad
PY  - 2025
DA  - February
Y2  - 2025
DO  - 10.26650/JEPR1593045
JF  - İktisat Politikası Araştırmaları Dergisi
JO  - JEPR
PB  - Istanbul University
WT  - DergiPark
SN  - 2148-3876
SP  - 195
EP  - 217
VL  - 12
IS  - 1
LA  - en
AB  - The purpose of this research work is to explore the impact of economic policy uncertainty on corporate investment across developed and developing economies. The study also investigates the impact on investment of firms having different ownership arrangements, financial system development, leadership status and capital intensity. The study employs Generalised Method of Moments technique to analyse a comprehensive dataset of 25 countries for the period from 2008 to 2021, comprising 11,718 firm-level observations. The results show that EPU has a significant negative effect on corporate investment, particularly in developed countries, developed financial systems, nonstate-owned enterprises, capital-intensive entities, and firms with CEO duality and dispersed ownership structures. On the other hand, EPU has an insignificant impact on investment made by firms in developing economies, underdeveloped financial markets, firms with state and concentrated ownership, and non-CEO duality. The results accentuate the complex interaction between EPU and firms’ investment, indicating the need for customised policy approaches to mitigate the negative effects across diverse economies, markets, ownership, and leadership structure.JEL Classification : E22 , G18 , G30
KW  - Economic policy uncertainty
KW  - corporate investments
KW  - developed and developing economies
KW  - ownership structure
KW  - capital intensity
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UR  - https://doi.org/10.26650/JEPR1593045
L1  - https://dergipark.org.tr/en/download/article-file/4401774
ER  -