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The Effects of Market Structure on Uncertainty-Investment Relationship: Evidence from Turkish Manufacturing Industry

Year: 2018

Type: article

Abstract: The broad aim of this study is to examine the impact of uncertainty on investment in Turkey. Our particular aim is to test Caballero’s (1991) theoretical claim that the negative relationship between investment and uncertainty is more pronounced in imperfectly competitive industries. With that aim in mind a panel of Turkish manufacturing industries for the years 1992-2001 is used to examine the effect of market structure on the investment-uncertainty relationship. Our estimation results show that uncertainty has a reductive effect on investment and that that effect becomes significantly stronger under imperfect competition conditions.

Source: Sosyoekonomi

DOI: 10.17233/sosyoekonomi.2018.03.10

Authors: Aytekin GÜVEN, Arzu AKKOYUNLU-WIGLEY

Institutions: Hacettepe University, Bolu Abant İzzet Baysal University

Language: English

Topic: Capital Investment and Risk Analysis

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: diamond

OpenAlex ID: W2883938727

FWCI:

Cites: 34

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Related to: 10