- 期刊
Chinese Economic Policy Uncertainty and Corporate Investment: Evidence from Taiwanese Firms with Chinese Operations
摘要
This paper examines how Chinese economic policy uncertainty (CEPU) influences corporate investment for Taiwanese companies with Chinese operations. Using a sample period of 1997 to 2018, we show that, when the degree of CEPU is higher, those Taiwanese firms with business operations in mainland Chinese markets stand to lower their investment. Our findings are robust to endogeneity tests using U.S. EPU as an instrumental variable. Using 2008 financial crisis as a proxy for CEPU also supports our findings.
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