Organization size and the optimal investment in cash

Miller & Orr (1966, Q. J. Econ., 80, 413–435) formulate a cash management model under which an organization’s cash flow evolves in terms of a stationary random walk. This, in turn, implies that the organization’s demand for cash will not grow over time. However, as organizations grow one would e...

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Bibliographic Details
Main Authors: Andrew Higson, Yoshikatsu Shinozawa, Mark Tippett
Format: Default Article
Published: 2010
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