Topic
Cash flow forecasting
About: Cash flow forecasting is a research topic. Over the lifetime, 3523 publications have been published within this topic receiving 110817 citations.
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24 Jun 2016
TL;DR: Compared with the foreign companies with more developed capital market, the adjustment speed of cash holdings of listed companies in China is slower, which overall lags behind, and presents a special phenomenon of adjustment in continuous single direction.
Abstract: With the data of 435 non-financial listed companies of Shanghai and Shenzhen from 2007–2012, this paper compares the dynamic adjustment behaviors of cash holdings in the perspective of growth, which include the adjustment speeds and forms. We find that there is optimal level of cash holdings, and the average adjustment speed of cash holdings for high-growth sample companies is 0.356, which is faster than low-growth samples (0.329), while the adjustment form has a certain similarity. The results show that compared with the foreign companies with more developed capital market, the adjustment speed of cash holdings of listed companies in China is slower, which overall lags behind, presents a special phenomenon of adjustment in continuous single direction.
Posted Content•
01 Jan 2012
TL;DR: In this paper, the authors carried out the first formal estimation of the social cost of transactions in Costa Rica and found that the importance of costs stemming from cash use is high: depending of the assumptions used, their estimations suggest that they are at least as important as those stemming from card transactions.
Abstract: In this study we carry out the first formal estimation of the social cost of transactions in Costa Rica. The estimation considers transactions in cash and cards, covers the 2008- 2011 years and is based on the methodology applied by Bergman, Guibourg and Segendorf (2007) for Sweden, with adaptations specific for Costa Rica. We estimate that the social cost of transactions has remained relatively stable as a share of GDP during the years included. We assess that the importance of costs stemming from cash use is high: depending of the assumptions used, our estimations suggest that they are at least as important as those stemming from card transactions. We found that the decisions made by the consumers generate a sizable part of the social costs of using cash. Social costs per transaction are comparable to those calculated in the relevant literature, and they indicate that cash is generally less costly than cards. If the composition of private and social costs is analyzed, it can be seen that the components of the cost on which the BCCR could have more influence are associated with the withdrawal, holding and use of cash in transactions, all of which affect the private costs of consumers, banks and retailers. An institutional strategy to provide alternative electronic payment systems and to promote its use among consumers and retailers would result in a lower need to withdraw cash, in lower cash stocks to manage by banks and other companies, and in a lower opportunity cost for the cash held.
TL;DR: FICBAUER as discussed by the authors describes specifi c of a fi nancial management of holdings when managing cash-fl ow. The focus is on reasons of holding structure and usage of both theoretical and other models of managing cash such as Baumol model, Miller-Orr model and Beranek model.
Abstract: FICBAUER, D.: Specifi cs of fi nancial management of holdings when managing cash-fl ow. Acta univ. agric. et silvic. Mendel. Brun., 2010, LVIII, No. 6, pp. 673–680 Concentration and cooperation belong to the main attributes of the modern business life. Business competition makes the start of a new business more diffi cult. Just the moment of concentration and cooperation can make the break to the new business easier. This can be achieved by including new businesses into holding companies. Basically there are two ways how to do a business. These depend on whether company carries out many lines of business or on the amount of asset. The fi rst way is to cover everything with one enterprise and thus to create one accounting unit. The second way is based on a foundation of a holding structure with subsidiaries and the holder on the top. In fact holding is a specifi c way how to cover business by many subsidiaries. The goal of this article is to describe specifi cs of a fi nancial management of holdings when managing cash-fl ow. The focus is on reasons of holding structure and usage of both theoretical and other models of managing cash such as Baumol model, Miller-Orr model and Beranek model. As transfers within the holding organization belong to the main advantageous of holding, the way how to transfer fi nance from one subsidiary to other or from subsidiary to holder or reversely is handled here. holding, fi nancial management of holding, cash-fl ow, managing cash-fl ow, cash management