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The Role of Cash Balances in Firm Valuation

Published online by Cambridge University Press:  01 December 2009

James R. Morris
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Extract

In the world of practical finance, the management of working capital—cash, marketable securities, receivables, and inventories is, perhaps, the most pressing and most frequently encountered problem for financial managers. Yet, in the realm of theoretical finance, and even at the level of “textbook” finance, working capital is given minimal attention.

Type
Selected Papers from the 1983 Annual Conference
Information
Journal of Financial and Quantitative Analysis , Volume 18 , Issue 4 , December 1983 , pp. 533 - 545
Copyright
Copyright © School of Business Administration, University of Washington 1983

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