• Abstract
  • Non-technical summary
  • 1 Introduction
  • 2 Related literature on bank relationships
  • 3 Data
  • 4 Adverse cash flow shocks, investment and bank relationships
  • 5 How do firms manage periods of adverse liquidity shocks as a function of bank relationships
  • 6 What explain the probability of obtaining extra bank debt in periods of adverse cash flow shocks
  • Conclusio
  • Reference
  • Appendix
  • European Central Bank Working Paper Series