| Issue |
E3S Web Conf.
Volume 253, 2021
2021 International Conference on Environmental and Engineering Management (EEM 2021)
|
|
|---|---|---|
| Article Number | 03054 | |
| Number of page(s) | 5 | |
| Section | Environmental Equipment Engineering Management and its Technical Application | |
| DOI | https://doi.org/10.1051/e3sconf/202125303054 | |
| Published online | 06 May 2021 | |
Political uncertainty and corporate investment: Empirical evidence from China
School of Economics and Management Beihang University Beijing, China
* Corresponding author: lvmiaochen0130@buaa.edu.cn
Using data of Chinese listed companies and local officials’ turnover, this paper examines the impact of political uncertainty on corporate investment in China. Results show that during the change of officials, companies will significantly reduce investment, despite the different measures of political uncertainty. This situation is more obvious for external appointment, state-owned enterprises and capitalintensive firms. Moreover, this paper creatively finds that this influence of provincial political uncertainty is more pronounced than that of municipal political uncertainty. Besides, the volatility of corporate investment increase with political uncertainty.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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