New working paper on the role of cash in firm investment after a financial crisis

In my new working paper “All you need is cash: Corporate cash holdings and investment after the financial crisis” Andi Joseph, Christiane Kneer and Jumana Saleheen show that cash is a critical asset to have when a financial crisis hits. It enables firms to continue to invest during the crisis when rivals cannot. This gives cash-rich firms a competitive edge that lasts far beyond the crisis years.