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Multiple-criteria cash-management policies with particular liquidity terms

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Multiple-criteria cash-management policies with particular liquidity terms

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Nombre: Salas-Molna;Pla;G ...
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dc.contributor.author Salas-Molina, Francisco es_ES
dc.contributor.author Pla Santamaría, David es_ES
dc.contributor.author Garcia-Bernabeu, Ana es_ES
dc.contributor.author Mayor-Vitoria, Fernando es_ES
dc.date.accessioned 2021-06-03T03:32:18Z
dc.date.available 2021-06-03T03:32:18Z
dc.date.issued 2020-04 es_ES
dc.identifier.issn 1471-678X es_ES
dc.identifier.uri http://hdl.handle.net/10251/167209
dc.description.abstract [EN] Eliciting policies for cash management systems with multiple assets is by no means straightforward. Both the particular relationship between alternative assets and time delays from control decisions to availability of cash introduce additional difficulties. Here we propose a cash management model to derive short-term finance policies when considering multiple assets with different expected returns and particular liquidity terms for each alternative asset. In order to deal with the inherent uncertainty about the near future introduced by cash flows, we use forecasts as a key input to the model. We express uncertainty as lack of predictive accuracy and we derive a deterministic equivalent problem that depends on forecasting errors and preferences of cash managers. Since the assessment of the quality of forecasts is recommended, we describe a method to evaluate the impact of predictive accuracy in cash management policies. We illustrate this method through several numerical examples. es_ES
dc.language Inglés es_ES
dc.publisher Oxford University Press es_ES
dc.relation.ispartof IMA Journal of Management Mathematics es_ES
dc.rights Reserva de todos los derechos es_ES
dc.subject Cash flow es_ES
dc.subject Forecasting es_ES
dc.subject Optimization es_ES
dc.subject Multiple criteria decision-making es_ES
dc.subject Liquidity terms es_ES
dc.subject.classification ECONOMIA FINANCIERA Y CONTABILIDAD es_ES
dc.subject.classification ECONOMIA APLICADA es_ES
dc.title Multiple-criteria cash-management policies with particular liquidity terms es_ES
dc.type Artículo es_ES
dc.identifier.doi 10.1093/imaman/dpz010 es_ES
dc.rights.accessRights Abierto es_ES
dc.contributor.affiliation Universitat Politècnica de València. Departamento de Economía y Ciencias Sociales - Departament d'Economia i Ciències Socials es_ES
dc.description.bibliographicCitation Salas-Molina, F.; Pla Santamaría, D.; Garcia-Bernabeu, A.; Mayor-Vitoria, F. (2020). Multiple-criteria cash-management policies with particular liquidity terms. IMA Journal of Management Mathematics. 31(2):217-231. https://doi.org/10.1093/imaman/dpz010 es_ES
dc.description.accrualMethod S es_ES
dc.relation.publisherversion https://doi.org/10.1093/imaman/dpz010 es_ES
dc.description.upvformatpinicio 217 es_ES
dc.description.upvformatpfin 231 es_ES
dc.type.version info:eu-repo/semantics/publishedVersion es_ES
dc.description.volume 31 es_ES
dc.description.issue 2 es_ES
dc.relation.pasarela S\428885 es_ES
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