Growth and Welfare Gains from Financial Integration Under Model Uncertainty

Luo, Yulei; Nie, Jun; Young, Eric

doi:10.2139/ssrn.3297824

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Volatility and Firm Growth1

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2021

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“…Loayza and Hnatkovska (2004) have found a negative impact of volatility on growth. In addition there are many other studies which show a causal relationship between volatility and firm growth (Luo, Nie & Young, 2016). Minton and Schrand (1999) have found that cash flow volatility is a significant negative determinant of investment.…”

Section: Volatility and Firm Growthmentioning

confidence: 99%

Impact of Volatility on Firm Sales Growth Some Insights from Pakistan

Rauf¹,

Rashid²

2021

BER

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This paper empirically investigates how firm level, industrial level, market level and macroeconomic volatilities influencePakistani non-financial firms’ sales growth. It also examines how interactions between different kinds of volatilities affect sales growth. The empirical analysis is carried out using unbalanced annual panel data set covering the period 1988-2017.The results indicate that although all types of volatilities assert negative impacts, the intensity of the impact is quite different across different volatilities. Macroeconomic volatility has the highest adverse impact followed by firm volatility. Unexpectedly, the results provide evidence that one type of volatility significantly reduces the adverse impact of other type of volatility. These findings imply that firms may design and implement more effective sales growth strategies in periods when they face more than on type of volatility.

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Section: Volatility and Firm Growthmentioning

confidence: 99%