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Polish and Silesian Non-Profit Organizations Liquidity Strategies

Listed author(s):
  • Grzegorz Michalski
  • Aleksander Mercik

The kind of realized mission inflows the sensitivity to risk. Among other factors, the risk results from decision about liquid assets investment level and liquid assets financing. The higher the risk exposure, the higher the level of liquid assets. If the specific risk exposure is smaller, the more aggressive could be the net liquid assets strategy. The organization choosing between various solutions in liquid assets needs to decide what level of risk is acceptable for her owners (or donors) and / or capital suppliers. The paper shows how, in authors opinion, decisions, about liquid assets management strategy inflow the risk of the organizations and its economical results during realization of main mission. Comparison of theoretical model with empirical data for over 450 Silesian nonprofit organization results suggests that nonprofit organization managing teams choose more risky aggressive liquid assets solutions than for-profit firms.

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File URL: http://arxiv.org/pdf/1301.3825
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Paper provided by arXiv.org in its series Papers with number 1301.3825.

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Date of creation: Jan 2013
Publication status: Published in Statistika 2011 48(4), 45-61
Handle: RePEc:arx:papers:1301.3825
Contact details of provider: Web page: http://arxiv.org/

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  1. Fernandez, Pablo, 2009. "Market risk premium used in 2008 by Professors: A survey with 1,400 answers," IESE Research Papers D/796, IESE Business School.
  2. Kim, Chang-Soo & Mauer, David C. & Sherman, Ann E., 1998. "The Determinants of Corporate Liquidity: Theory and Evidence," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 33(03), pages 335-359, September.
  3. Fernandez, Pablo & del Campo, Javier, 2011. "Market risk premium used in 2010 by professors: A survey with 1,500 answers," IESE Research Papers D/911, IESE Business School.
  4. Michalski, Grzegorz, 2008. "Value-Based Inventory Management," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(1), pages 82-90, March.
  5. Isabelle Huault & V. Perret & S. Charreire-Petit, 2007. "Management," Post-Print halshs-00337676, HAL.
  6. Fernandez, Pablo & Aguirreamalloa, Javier & Corres, Luis, 2011. "Market risk premium used in 56 countries in 2011: A survey with 6,014 answers," IESE Research Papers D/920, IESE Business School.
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