Many firms face a problem of managing cash balances to maximize the availability of cash for investment and to avoid the risk of insolvency. In this paper, we consider a cash management model in which the two types of funds are available when a manager adjusts cash level. We suppose that the rate of utilizing the two funds for the amount of adjustment is constant. Our objective is to minimize t...

This paper provides an empirical analysis about the relationship of corporate governance and cash dividend policy in China. The results show that equity structure and the cash dividends are related. Other factors such as executive pay are related to cash dividends. This paper also analyzes the requirement of cash dividends on behalf of the corporate governance or big shareholders "Tunnel behavi...

Cash crop expansion has been a major land use change in tropical and subtropical regions worldwide. Quantifying the determinants of cash crop expansion should provide deeper spatial insights into the dynamics and ecological consequences of cash crop expansion. This paper investigated the process of cash crop expansion in Hangzhou region (China) from 1985 to 2009 using remotely sensed data. The ...

I explore the role of the Just-in-Time (JIT) inventory system in the increase of cash holdings among U.S. manufacturing firms. I first demonstrate the empirical importance of JIT in shaping cash policy. I then develop a model to analyze the mechanism through which JIT affects cash and quantify its impact. In the model, both cash and inventory can serve as working capital. As firms switch from t...

Introduction Recent public attention has spotlighted the use of reward programs for K-12 public school students. In districts such as Baltimore, Fulton County, Georgia, or New York City, the efforts of educators to structure reward systems are being met with support, skepticism and indignation. The programs use a variety of incentives such as cash or mp3 players as incentives to shape individua...

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Article history: Received 28 August 2009 Received in revised form 2 December 2010 Accepted 8 December 2010 Available online 15 December 2010 We examine the determinants of corporate cash management policies across a broad sample of international firms. We document that firms in countries with strong legal protection of minority investors are more likely to decrease their cash holdings in respon...

This paper addresses the prevalence of non-monetary gifts over more highly valued and e$cient monetary transfers in social relationships. We demonstrate that under a wide variety of circumstances, ine$cient non-monetary gifts will be o!ered by a donor in lieu of cash in order to signal the donor's quality of information about the recipient's preferences. This result emerges because gift giving ...

The Federal Reserve System of the United States is making changes to its cash recirculation policy to reduce depository institutions’ (banks’) overuse of its cash processing services. These changes will affect operating policies and costs at many institutions having large cash businesses and, in turn, impact cash transportation and logistics providers. This study provides the framework to study...