In this paper we investigate how demand and output price uncertainty affect investment plans of Belgian manufacturing … survey and investment plans from the half-yearly investment survey. Using investment plans instead of realised investment … features of the decision formation process and, therefore, it is most closely related to economic theory. Business investment …

We test whether firms with a single bank are better shielded from loss of credit and investment cuts in periods of … adverse cash flow shocks than firms with multiple bank relationships. Our estimates of the cash flow sensitivity of investment … shocks. In these periods, firms incur lower cuts in investment expenditures when they can obtain extra credit. In periods of …

We use the recent financial crisis period to analyse the effect of bank credit tightening on real firm investment. We …, investment falls substantially more in bank-dependent industries …

firm level investment and high-frequency identified monetary policy shocks. We show that the reaction of firms' investment …