On the formal foundations of cash management systems
[EN]Cash management aims to find a balance between what is held in cash and what is allocated in other investments in exchange for a given return. Dealing with cash management systems with multiple accounts and different links between is a complex task. Current cash management models provide analyti...
| Autores: | , , , |
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| Tipo de recurso: | artículo |
| Estado: | Versión enviada para evaluación y publicación |
| Fecha de publicación: | 2019 |
| País: | España |
| Institución: | Consejo Superior de Investigaciones Científicas (CSIC) |
| Repositorio: | DIGITAL.CSIC. Repositorio Institucional del CSIC |
| OAI Identifier: | oai:digital.csic.es:10261/238905 |
| Acceso en línea: | http://hdl.handle.net/10261/238905 |
| Access Level: | acceso abierto |
| Palabra clave: | Finance Formal reasoning Graph theory Multiple accounts |
| Sumario: | [EN]Cash management aims to find a balance between what is held in cash and what is allocated in other investments in exchange for a given return. Dealing with cash management systems with multiple accounts and different links between is a complex task. Current cash management models provide analytic solutions without exploring the underlying structure of accounts and its main properties. There is a need for a formal definition of cash management systems. In this work, we introduce a formal approach to manage cash with multiple accounts based on graph theory. Our approach allows a formal reasoning on the relation between accounts in cash management systems. A critical part of this formal reasoning is the characterization of desirable and non-desirable cash management policies. Novel theoretical results guide cash managers in the analysis of complex cash management systems. |
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