Economic policy uncertainty and firm value: the mediating role of intangible assets and R&D

Richard Borghesi and Kiyoung Chang

Applied Economics Letters, 2020, vol. 27, issue 13, 1087-1090

Abstract: We explore the mechanisms by which intangible assets and R&D intensity mediate the relationship between global economic policy uncertainty and firm value. We find that firms in high intangible-intensity industries and those engaging in R&D suffer the most from restrictive governance policies when economic instability is high. However, when the economic environment is volatile, these same firms benefit the most from prior investments in corporate social responsibility. Results add nuance to prior literature exploring the CSR and corporate governance strictly during the Great Recession and also shed light on optimal governance and CSR policies in times of global economic policy uncertainty.

Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://hdl.handle.net/10.1080/13504851.2019.1661951 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:27:y:2020:i:13:p:1087-1090

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20

DOI: 10.1080/13504851.2019.1661951

Access Statistics for this article

Applied Economics Letters is currently edited by Anita Phillips

More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().