企业财务管理--现金管理.pptxVIP

Chapter Outline28.1 Reasons for Holding Cash28.2 Determining the Target Cash Balance28.3 Managing the Collection and Disbursement of Cash28.4 Investing Idle Cash28.5 Summary Conclusions28.1 Reasons for Holding CashTransactions motiveCompensating balances28.2 Determining the Target Cash BalanceThe Baumol ModelThe Miller-Orr ModelOther Factors Influencing the Target Cash BalanceTotal cost of holding cashOpportunity CostsTrading costsCosts of Holding CashCosts in dollars of holding cashTrading costs increase when the firm must sell securities to meet cash needs.The investment income foregone whe