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 …

the last global financial crisis on the firms´ investment, considering its dependence of bank debt of institutions that …

We examine the long-standing question of whether firms derive value from investment bank relationships by studying how …

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 …

We examine whether investment bank-client relationships create valuable relationship-specific capital, using stock … address two questions: First, which investment bank services, if any, are associated with the creation of relationship … whether investment bank services are relationship-based or transactional and, more broadly, how financial intermediaries …

financial crisis and especially so during the recovery phase. This resulted in a persistent and growing investment gap between …

The Lehman Brothers event in 2008 created a large uncertainty shock that triggered an economic slowdown lasting a … explore corporate data to investigate how economic uncertainty affected investment, dividend payouts and cash holdings, based … of England. These data demonstrate that heightened economic uncertainty lowered investment even after controlling for …

outside the U.S. due to a greater decline of intangible investment and a much slower recovery. Tangible capital can be … investment relies on firms’ liquidity holdings that were drawn down in the crisis and can only be rebuilt gradually through … retained profits. We provide a unified account of the findings through a dynamic model of corporate investment and liquidity …

We examine firms' simultaneous choice of investment, debt financing and liquidity in a large sample of US corporates … future shortfalls in operating income. In contrast to earlier work, our joint estimation approach shows that cash flows … affect the corporate decisions of unconstrained firms more strongly than those of constrained firms. Investment-cash flow …

We show that credit supply shocks have a strong impact on firm-level as well as aggregate investment by applying the … are found to impair firm-level investment in all firms in our sample, but in particular for small firms and those with no … access to alternative financing sources. For the economy as a whole, granular shocks in the banking system account for around …