the nature of the financial crisis and the corporate savings glut does in fact play an important role in such crises, then …

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 investigate the damage to real-sector investment spending and corporate financing activities … triggered by the failure of three major investment banks during the 2007-09 financial crisis. We find that firms characterized … by pre-crisis corporate investment banking relationships with troubled investment banks exhibit significantly lower post …