Advances in Working Capital Management / Edition 1

by Yong H. Kim

Overview

Volume 4 in this research series contains nine papers. Following the tradition of the earlier volumes, it is similar in style to the first three volumes and illustrates ongoing research thrusts on a variety of financial economics issues that are germane to working capital management. The papers have been logically divided into three parts. The first part of the volume focuses on the issues covering short-term interest rates, short-term financial management, and a cash balance model. Part two contains papers that examine the issue of trade credit analysis under a competitive pricing situation and an environment in which the level of sales fluctuates. Finally Part 3 departs from the traditional discussions on working capital management in that it explores dividend payouts and tax environment changes as a source of concern to treasury (and financial) managers. This fourth volume presents a rich variety of papers that address an expanding facet of working capital management. It is hoped that the papers are found to be informative and act to stimulate research and practice in the area of treasury/financial management.

Product Details

ISBN-13:	9780892329960
Publisher:	Emerald Group Publishing Limited
Publication date:	01/01/1992
Series:	Advances in Working Capital Management , #2
Pages:	326
Product dimensions:	6.30(w) x 9.06(h) x 1.06(d)

Table of Contents

Preface (Yong H. Kim). Part I: Valuation Framework and Liquidity. The value of short-term cash flow forecasting systems (T.W. Miller, B.K. Stone). Liquidity and the financing policy of the firm: an empirical test (E.O. Lyn, G.J. Papaioannou). Part II: Trade Credit: Efficient Market, Imperfect Information, and an International Perspective. A role for trade credit in an efficient market (R.E. Rouault, Jr., D.J. Kaufman, Jr.). Unbiased trade credit decisions under imperfect information (D.R. Fewings). An international accounts receivable management model (P. Ahtiala, Y.E. Orgler). Part III: Managing Cash: Behavioral and International Perspectives. Behavioral relations and the optimal cash discount (W. Beranek). Optimum cash balances for international firms (Jongmoo Jay Choi, D.K. Ghosh and Yong H. Kim). Determination of multicurrency cash balances: strong versus weak dollar cycles (L.A. Soenen, J. Madura). Swaps as a cash management tool (J.F. Marshall, V.K. Bansal and A.L. Tucker). A test of one-way arbitarge in the Canadian/U.S. dollar commercial paper markets (M. Anvari, A.H.R. Davis).