Investment Under Credit Rationing and Uncertainty: Evidence from South Africa

Posted: 2 Oct 2000

See all articles by David Fielding

David Fielding

University of Leicester - Department of Economics

Abstract

We construct an empirical model of corporate investment which allows for the various effects of uncertainty and credit market imperfections described in the theoretical literature. The model is estimated using cross-sectional data from the South African stock exchange. Evidence is found for some (but not all) of the predictions of the relevant theoretical models, and differences between firms in different sectors and of different sizes are noted.

JEL Classification: G31, G32

Suggested Citation

Fielding, David, Investment Under Credit Rationing and Uncertainty: Evidence from South Africa. Available at SSRN: https://ssrn.com/abstract=237672

David Fielding (Contact Author)

University of Leicester - Department of Economics ( email )

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Leicester LE1 7RH
United Kingdom
0116 252 3909 (Phone)

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