title: Economic policy uncertainty under the conditions  of sanctions: Impact on the Russian companies’ cash holdings
metadata.name: dc.contributor.author
metadata.value: Naidenova, Iuliia N.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Shalaeva, Ekaterina V.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-06-20T18:21:19Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-06-20T18:21:19Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2022-12
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Naidenova I. N., Shalaeva E. V. 2022. Economic policy uncertainty under the conditions  of sanctions: Impact on the Russian companies’ cash holdings. Russian Management Journal 20 (4): 482–497. https://doi.org/10.21638/spbu18.2022.402 (In Russian)
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/spbu18.2022.402
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/41645
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: Goal: to analyze the impact of economic policy uncertainty on cash holdings of Russian manufacturing companies and the factors that moderate this impact, taking into account sanctions restrictions.
  
  Methodology: during the study, regression models were evaluated based on data from more than 1 400 Russian manufacturing companies for the period 2014–2020, using the least square method on the transformed data (within estimators).
  
  Findings: it was found that the uncertainty of economic policy leads to an increase in cash holdings, which means a decrease in the level of investment in the development of the company and payments to owners, while this effect is stronger for companies subject to sanctions and companies without state participation, while large companies are less sensitive to policy uncertainty than medium-sized enterprises.
  
  Originality and contribution of the authors: the study for the first time examined the impact of economic policy uncertainty on cash holdings of Russian companies, taking into account the imposed sanctions.
metadata.lang: en_GB
metadata.name: dc.description.sponsorship
metadata.value: This paper is an output of a research project implemented as part of the Basic Research Program at the 
  National Research University Higher School of Economics (HSE University).
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Russian Management Journal;Volume 20; Issue 3
metadata.lang: -
metadata.name: dc.subject
metadata.value: economic uncertainty
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: policy uncertainty
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: cash holdings
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: sanctions
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: Russian companies
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Economic policy uncertainty under the conditions  of sanctions: Impact on the Russian companies’ cash holdings
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 02.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/41645/1/02.pdf
resources.format: Adobe PDF
resources.size: 749,35 kB