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The Management of Working Capital in an International Company

In: International Business Finance

Author

Listed:
  • Douglas Wood

    (Manchester Business School)

  • James Byrne

    (Manchester Business School)

Abstract

The underlying objective of a cash management programme is to ensure that the pattern of cash balance employed by a given company is justifiable in terms of overall profitability. In effect, this simply means that if cash-using activities are charged for the use of that cash at a rate which approximates to the current cost of capital to the company (including exchange cover) and activities which are (or could be) cash-generating are credited at a similar rate for their provision of cash, no greater profitability could be secured by rearranging cash balances.

Suggested Citation

  • Douglas Wood & James Byrne, 1981. "The Management of Working Capital in an International Company," Palgrave Macmillan Books, in: International Business Finance, chapter 5, pages 112-141, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-03120-7_5
    DOI: 10.1007/978-1-349-03120-7_5
    as

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