第二十八章现金管理.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 Conclusions 28.1 Reasons for Holding CashTransactions motiveCompensating balances 28.2 Determining the Target Cash BalanceThe Baumol ModelThe Miller-Orr ModelOther Factors Influencing the Target Cash Balance Costs of Holding CashOpportunity CostsTrading costsTotal cost of holding cashC*Costs in dollars of holding cashSize of cash balanceThe investment income foregone when holding cash.Trading costs increase when the firm