A multi-objective approach to the cash management problem

[EN] Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in r...

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Detalles Bibliográficos
Autores: Salas-Molina, Francisco|||0000-0002-1168-7931, Pla Santamaría, David|||0000-0003-1563-3997, Rodriguez Aguilar, Juan Antonio
Tipo de recurso: artículo
Fecha de publicación:2016
País:España
Institución:Universitat Politècnica de València (UPV)
Repositorio:RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
Idioma:inglés
OAI Identifier:oai:riunet.upv.es:10251/82639
Acceso en línea:https://riunet.upv.es/handle/10251/82639
Access Level:acceso abierto
Palabra clave:Cash management
Multi-objective decision-making
Risk preferences
ECONOMIA FINANCIERA Y CONTABILIDAD
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spelling A multi-objective approach to the cash management problemSalas-Molina, Francisco|||0000-0002-1168-7931Pla Santamaría, David|||0000-0003-1563-3997Rodriguez Aguilar, Juan AntonioCash managementMulti-objective decision-makingRisk preferencesECONOMIA FINANCIERA Y CONTABILIDAD[EN] Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management model based on compromise programming that allows cash managers to select the best policies, in terms of cost and risk, according to their risk preferences. The model is illustrated through several examples using real data from an industrial company, alternative cost scenarios and two different measures of risk. As a result, we provide cash managers with a new tool to allow them deciding on the level of risk to take in daily decision-making.Work partially funded by projects Collectiveware TIN2015-66863-C2-1-R (MINECO/FEDER) and 2014 SGR 118.Springer Verlag (Germany)Centro de Investigación en Gestión de Empresas (CEGEA)Departamento de Economía y Ciencias SocialesEscuela Politécnica Superior de AlcoyGrupo de Investigación de Economía Internacional y DesarrolloMinisterio de Economía y CompetitividadGeneralitat de CatalunyaRepositorio Institucional de la Universitat Politècnica de València Riunet20162016-11-01journal articlehttp://purl.org/coar/resource_type/c_6501VoRhttp://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/articleapplication/pdfapplication/pdfhttps://riunet.upv.es/handle/10251/82639reponame:RiuNet. Repositorio Institucional de la Universitat Politécnica de Valénciainstname:Universitat Politècnica de València (UPV)InglésengMinisterio de Economía y Competitividad http://dx.doi.org/10.13039/501100003329 TIN2015-66863-C2-1-R COLLECTIVEWARE: TECNOLOGIAS PARA POTENCIAR COLECTIVOS HUMANOS EN LA RED ELECTRICA INTELIGENTEGeneralitat de Catalunya Generalitat de Catalunya 2014 SGR 118open accesshttp://purl.org/coar/access_right/c_abf2Reserva de todos los derechoshttp://rightsstatements.org/vocab/InC/1.0/info:eu-repo/semantics/openAccessoai:riunet.upv.es:10251/826392026-06-13T07:49:27Z
dc.title.none.fl_str_mv A multi-objective approach to the cash management problem
title A multi-objective approach to the cash management problem
spellingShingle A multi-objective approach to the cash management problem
Salas-Molina, Francisco|||0000-0002-1168-7931
Cash management
Multi-objective decision-making
Risk preferences
ECONOMIA FINANCIERA Y CONTABILIDAD
title_short A multi-objective approach to the cash management problem
title_full A multi-objective approach to the cash management problem
title_fullStr A multi-objective approach to the cash management problem
title_full_unstemmed A multi-objective approach to the cash management problem
title_sort A multi-objective approach to the cash management problem
dc.creator.none.fl_str_mv Salas-Molina, Francisco|||0000-0002-1168-7931
Pla Santamaría, David|||0000-0003-1563-3997
Rodriguez Aguilar, Juan Antonio
author Salas-Molina, Francisco|||0000-0002-1168-7931
author_facet Salas-Molina, Francisco|||0000-0002-1168-7931
Pla Santamaría, David|||0000-0003-1563-3997
Rodriguez Aguilar, Juan Antonio
author_role author
author2 Pla Santamaría, David|||0000-0003-1563-3997
Rodriguez Aguilar, Juan Antonio
author2_role author
author
dc.contributor.none.fl_str_mv Centro de Investigación en Gestión de Empresas (CEGEA)
Departamento de Economía y Ciencias Sociales
Escuela Politécnica Superior de Alcoy
Grupo de Investigación de Economía Internacional y Desarrollo
Ministerio de Economía y Competitividad
Generalitat de Catalunya
Repositorio Institucional de la Universitat Politècnica de València Riunet
dc.subject.none.fl_str_mv Cash management
Multi-objective decision-making
Risk preferences
ECONOMIA FINANCIERA Y CONTABILIDAD
topic Cash management
Multi-objective decision-making
Risk preferences
ECONOMIA FINANCIERA Y CONTABILIDAD
description [EN] Cash management is concerned with optimizing costs of short-term cash policies of a company. Different optimization models have been proposed in the literature whose focus has been only placed on a single objective, namely, on minimizing costs. However, cash managers may also be interested in risk associated to cash policies. In this paper, we propose a multi-objective cash management model based on compromise programming that allows cash managers to select the best policies, in terms of cost and risk, according to their risk preferences. The model is illustrated through several examples using real data from an industrial company, alternative cost scenarios and two different measures of risk. As a result, we provide cash managers with a new tool to allow them deciding on the level of risk to take in daily decision-making.
publishDate 2016
dc.date.none.fl_str_mv 2016
2016-11-01
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
VoR
http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://riunet.upv.es/handle/10251/82639
url https://riunet.upv.es/handle/10251/82639
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.relation.none.fl_str_mv Ministerio de Economía y Competitividad http://dx.doi.org/10.13039/501100003329 TIN2015-66863-C2-1-R COLLECTIVEWARE: TECNOLOGIAS PARA POTENCIAR COLECTIVOS HUMANOS EN LA RED ELECTRICA INTELIGENTE
Generalitat de Catalunya Generalitat de Catalunya 2014 SGR 118
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Reserva de todos los derechos
http://rightsstatements.org/vocab/InC/1.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Reserva de todos los derechos
http://rightsstatements.org/vocab/InC/1.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Springer Verlag (Germany)
publisher.none.fl_str_mv Springer Verlag (Germany)
dc.source.none.fl_str_mv reponame:RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
instname:Universitat Politècnica de València (UPV)
instname_str Universitat Politècnica de València (UPV)
reponame_str RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
collection RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,300719

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