Search results for "Cash"

Financial Management as a Tool for Achieving Stable Firm Growth

2016

Abstract The purpose of this study is to show that financial management in the firm is a tool for achieving stable firm growth and long-term firm stability while problems in firm financial management lead to the inability of firms to ensure sustainable growth of their value. This problem is relevant for firms in all countries. The main objectives of this paper are: to analyse dynamics of value of the largest Latvian firms, to determine the drivers of these dynamics and to establish the main problems slowing the growth of firm value, which are related to the drawbacks in financial management, and to provide suggestions for solving these problems. This study analyses financial management proc…

Financing of Productive Investments: A Model with Coordinated Scenarios

2015

This research raises a company that knows the cash requirements to purchase capital equipments in order to satisfy the demand for the products of each of the proposed scenarios. The company is negotiating with credit institutions a series of loans at different interest rates. Also, the company can make capital increases. A model focused on the financial needs using scenarios allows us to combine funding sources to cover the costs of the acquisition of production equipment to meet the demand for each scenario. This combination remunerates own financing, settles interest and repays the borrowed capital. The results indicate that the model is robust and minimizes the financial cost of a possib…

Direct Compensation and Risk Management: A Key Study from the Insurance Sector

2019

This paper examines the business model of an Italian company (TIS) that manage the claims for non-life insurance companies with innovative solutions. When a policy-holder make a claim for a loss or damage, the insurer may decide either to repair, rebuild or replace the property or to offer a cash settlement. To provide these services, many insurance companies have started developing strategic relationships directly with building firms, repairers, specialist suppliers and project managers, in order to find reliable contractors that will repair or replace the policy holder’s property quickly, with high quality and at a low cost. Opposite to other EU Countries, in Italy many insurance companie…

A Model for Estimating Cash Flows in Firms Backed by Venture Capital

2013

Venture Capital only backs firms for a short period of time. When the time to exit arrives, the firm must inevitably be valued in order to obtain a basis for negotiating the exit price. Discounted cash flow is precisely one of the valuation methods that are used most by Small and Medium-sized Enterprises (SMEs).

Events and Trends Control in Diagnostics of Financial Capacity of Transportation Companies

2013

Investigating the impact rendered by financial capacity and its diagnostics efficiency upon the results of a company’s activity is the most important problem of modern management. The standard conventional methods and tools of the financial analysis have remained in the past. The top management of a modern company ever more often reflects on the alternative approaches for an assessment objectively capable of reflecting both the current situation and the near-term threats jeopardizing the company’s activity. One of such approaches is the business value appraisal method from the time perspective. The advantage of this approach is leading properties inherent in the indices. This article studie…

The World Bank's Early Reflections On Development: A Development Institution Or A Bank?

2008

Until the late 1960s, the World Bank presented itself as an institution devoted to making sound and directly productive project loans. Yet, during its early years, discussions took place within the Bank regarding the possibility of issuing different types of loans, namely (i) loans aimed at tackling social issues (‘social loans’), and (ii) loans aimed at providing foreign currency to address disequilibria in the balance of payments (‘impact loans’). This paper brings together historical analysis and theories of organization development to study the housing issue as a case in point. The analysis reveals that the Bank was unwilling to lend for housing programmes not because these were not sou…

STUDY REGARDING THE EVOLUTION OF THE FINANCIAL BALANCE IN THE PHARMACEUTICAL INDUSTRY

2015

Abstract This article aims at analysing the financial balance within the global pharmaceutical industry, starting from the assumption that „In the pharmaceutical industry there is sufficient liquidity to cover payment obligations”. The analysed companies are part of the exclusive group comprising the top 20 global companies, e.g. GlaxoSmithKline, Merck & Co., Sanofi-Aventis and Bayer. The research conducted is based on an analysis over time of the relationship between floating assets, floating assets requirement and net cash from 2006 to 2013, and highlights the main developments of the indicators before the onset of the financial and economic crisis and after its outbreak.

Incentive System Design Based on Accrual Accounting: A Summary and Analysis

2009

ABSTRACT: This paper provides a formal analysis on how to design accrual-based incentive systems so that a manager's and owner's interests are properly aligned. We introduce a general framework to summarize the literature, provide various extensions to it, and point to some of its limitations. We characterize the entire class of goal-congruent and preference-similar incentive systems when the owner has perfect as well as imperfect information about the manager's preferences. This allows us to show how compensation functions and performance measures are interrelated and to demonstrate what information should be incorporated into compensation functions and performance measures. We illustrate …

Front Cover: Valorisation of Cashew Nut Shell Liquid Phenolics in the Synthesis of UV Absorbers (Eur. J. Org. Chem. 30/2019)

2019

Functional data analysis for optimizing strategies of cash flow management

2015

The cash management deals with problem of automating and managing cash flow processes. Optimization of the management processes greatly reduces overall cash handling costs. The present analysis is an empirical study of cash flows, from and to bank branches, deriving an underlying theoretical framework, which can in a reasonable way be connected with the optimal strategy. Functional data analysis is considered an appropriate framework to analyse the dynamics of the time series behavior of cash flows: since the observations are not equally spaced in time and their number is different for each series, they are converted in a collection of random curves in a space spanned by finite dimensional …