The economic crisis in recent years has brought significant challenges in almost all business and shown that exogenous factors act as catalysts in markets. As a consequence of such a result, there is a need to highlight the importance of implementing models for analyzing potential future...

Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis but also during the recovery period. Cash-rich SMEs could maintain their capital stock during the global financial crisis, while cash-poor rivals reduced theirs. This gave...