This article describes an expert system for cash flow analysis called CFA--Cash Flow Analyzer. which uses knowledge based on ratio analysis and the budgetary statement of changes in cash flow. The system uses "If ••• Then ••• " rules to capture the expertise necessary to diagnose the source of cash flow problems and make recommendations on how to mitigate those problems. 1. AN EXPERT SYSTEM FOR...

The authors develop a conceptua] framework of the marketing-finance interface and discuss its implications for the theory and practice of marketing. The framework proposes that marketing is concerned with the task of developing and managing market-based assets, or assets that arise from the commingling of the firm with entities in its external environment. Examples of market-based assets includ...

This paper presents results from an in-depth analysis of the foreign exchange rate exposure of a large nonfinancial firm based on proprietary internal data including cash flows, derivatives and foreign currency debt, as well as external capital market data. While the operations of the multinational firm have significant exposure to foreign exchange rate risk due to foreign currency-based activi...

With currently depressed milk prices, many Michigan dairy operations are struggling to meet current cash flow commitments. This article, the first of a series of articles addressing cash flow problems, examines ways to manage debt. The other articles to follow will explore profitability of the Michigan dairy industry, other methods for improving cash flow (including income tax management), unde...

Reliability and efficacy of accruals and cash flows which are among the most important factors affecting dividend deviation have always been in question and subject to anomalies. The presence of these anomalies in accruals and cash flows and its effect on future returns and the consequences that they can have in country’s investments are the main motives to choose this issue for the current stu...

This paper proposes a dynamic risk-based model that captures the high expected returns on value stocks relative to growth stocks, and the failure of the capital asset pricing model to explain these expected returns. To model the difference between value and growth stocks, we introduce a cross-section of long-lived firms distinguished by the timing of their cash flows. Firms with cash flows weig...

I examine the impact of management cash flow forecasts on investors and analysts. The news in management cash flow forecasts is priced beyond total earnings news. Analysts revise earnings forecasts more for the news in these forecasts than for the news in accruals. I further find that the market’s higher pricing of cash flow forecast news is greater for firms 1) with bad earnings news, 2) in fi...