their destinies. Explores innovative investment strategies, from community capital and crowdfunding to local stock exchanges … their destinies. Explores innovative investment strategies, from community capital and crowdfunding to local stock exchanges …

Cash holdings at the onset of a financial crisis are a key determinant of investment by SMEs not only during the crisis … persistent and growing investment gap. The amplification effect was present for SMEs with both volatile and stable cash holdings …

In this paper, we use firm-level survey data to explore the determinants of SME investment activity and the extent to … which observed investment is in line with that suggested by economic fundamentals. In contrast to previous literature which … has focused on whether investment gaps exist at a more aggregate level, we find evidence that for SMEs actual investment …