• Abstract
  • Non-technical summar
  • 1 Introduction
  • 2 Data description
  • 3 ACW´s cash flow sensitivity of cash; the case of euro area firms
  • 4 Financial constraints and the cash policy
  • 4.1 Classification scheme
  • 4.2 Firms´ characteristics and financial constraint
  • 4.3 Cash flow sensitivity of cash holdings
  • 5 Conclusion
  • References
  • Tables and figures
  • Appendix - Data and sample selection
  • European Central Bank Working Paper Series