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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Main Authors: | Andrew Higson, Yoshikatsu Shinozawa, Mark Tippett |
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Format: | Default Article |
Published: |
2010
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Online Access: | https://hdl.handle.net/2134/10161 |
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