|The response of corporate investments in the US to oil price changes: the role of asymmetries
|Maghyereh, A. I. and Awartani, B.
This paper investigates the influence of oil price changes on corporate investment in the US using a large sample of 15,411 companies from 1984 to 2017. It adds to the literature by showing an asymmetric response of capital investments to oil price changes for non-oil companies. Particularly, positive oil price changes have a larger adverse impact on investments than the positive impact created by negative oil price changes. These results are important in assessing the impact of energy price fluctuations on the long-term investment decisions of US companies.
|Applied Finance Letters
|9, pp. 11-24
|Tuwhera Open Access Publisher
CC BY-NC-ND 4.0
File Access Level
Open (open metadata and files)
|Digital Object Identifier (DOI)
|12 Feb 2020