Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...

Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...

Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...

Resum Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management mod...

This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for British firms, cash flow is informative about investment, although not about the level of R&D spending co...

This paper examines pricing policies for OPEC under the assumption that the cartel is composed of a block of s/~e~t/~r countries with large cash needs and a t.lock of .yuI’ercountrics with little immediate need for cash and a loHcr rate of discount. The decision problem for the twopart cartel is embodied in a game-theoretic framework and the optimal bargaining solution is computed using results...

The likelihood ratio test (LRT) and the related F-test, popularized in astrophysics by Eadie and coworkers in 1971, Bevington in 1969, Lampton, Margon, & Bowyer, in 1976, Cash in 1979, and Avni in 1978, do not (even asymptotically) adhere to their nominal 2 and F-distributions in many statistical tests common in astrophysics, thereby casting many marginal line or source detections and nondetect...

Discounted cash flow analysis provides a means of relating the magnitude of expected future cash profits to the magnitude of the initial cash investment required to purchase an asset or to develop it for commercial production. The objectives of discounted cash flow analysis are to determine: < The net present value of a stream of expected future cash revenues and expenditures. < The rate of ret...

This paper studies optimal monetary and fiscal policies in an economy à la Lucas and Stokey (1983) and Lagos and Wright (2005) with multiple cash and credit goods. We show that optimal policies are in general time inconsistent due to insufficient number of instruments to influence future government decisions. There are two important cases where time consistency can be restored. First, if taxes ...