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Excerpt from Cash Management: A Systems Approach
Corporations maintain cash balances for essentially three reasons. Their inflow and outflow of cash payments are not per fectly Synchronized; therefore, an inventory of cash is necessary to buffer these flaws. Forecasts of cash flows and of interest rates are uncertain; therefore, corporations hold cash to insure themselves against unfortunate future events in their cash flows and in the fluctuations of interest rates. Thirdly, corporations use cash balances to coupensate their banks for a variety of services that may be provided. This article focuses on the problem of deter mining the Optimal level of cash balances needed to support a firm's banking system. The model described below determines the optimal level and inter-bank allocation of cash balances at which the total cost of the banking system is minimized. Total cost ih cludes the Opportunity cost of cash balances as well as any fees paid directly to the banks. In addition to determining the Optimal allocation of cash balances, the model determines the best allocation of the firm's checking and deposit activity within the system. As will be discussed later, the model is also extremely useful for e valuating proposed changes in the structure of the firm's banking system (e.g.adding or deleting banks).
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Cash Management: A Systems Approach (Classic Reprint)
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Paperback. Zustand: New. Print on Demand. This book delves into the complexities of corporate cash management, a crucial aspect of financial strategy often overlooked. The author explores the intricate web of services provided by banks to corporations, ranging from tangible activities like check processing to intangible services such as financial advice. The text emphasizes the importance of striking a balance between compensating banks for these services and maximizing the efficient use of corporate cash. By analyzing case studies and presenting a comprehensive model for optimizing cash management systems, the author provides valuable insights into how corporations can navigate the banking landscape, minimize costs, and enhance their financial performance. Ultimately, this book is a guide to understanding the interplay between banks and corporations, empowering readers to make informed decisions that optimize their financial strategies. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Bestandsnummer des Verkäufers 9781334408724_0
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