Uncertainty and growth of the firm

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Using data from a survey of 1,097 small and medium-sized non-listed Dutch firms we investigate the relation between growth of the firm and uncertainty. We focus on the impact of sales uncertainty on various types of investment. We find that sales uncertainty, measured by the conditional variance, has a mixed impact on various investment decisions. We include an analysis of the relevance of financial structure and firm size on the growth-uncertainty relation.

Originele taal-2English
Pagina's (van-tot)381-391
Aantal pagina's11
TijdschriftSmall Business Economics
Nummer van het tijdschrift4
StatusPublished - mei-2005

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