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Decision Models in Engineering and Management pp 11–28Cite as

Stochastic Cash Flow Management Models: A Literature Review Since the 1980s

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Abstract

Defining cash balance is a classic problem in firms’ financial management. For this reason, the aim of this study is to carry out a literature review, presenting the main cash flow management models from the Baumol and Tobin models in 1950s, to Miller–Orr model in 1960s and their development since the 1980s, focused essentially in stochastic models, with publication in economic, financial, and operation research journals. Thus, this chapter provides a review on cash balance management models in order to obtain a more consistent model on a par with investment analysis, observing the characteristics associated with cash maintenance, as well as diversification of financial applications and resources and the lack of literature in stochastic models for this problem.

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Authors and Affiliations

  1. School of Economics, Business Administration and Accounting, University of São Paulo, 3900 Bandeirantes Av., 14040-905, Ribeirão Preto, SP, Brazil

    Marcelo Botelho da Costa Moraes

  2. School of Engineering of São Carlos, University of São Paulo, 400 Trabalhador Sãocarlense ave, Centro, 13566-590, São Carlos, SP, Brazil

    Marcelo Seido Nagano

  3. Faculty of Economics, Management and Accounting, University of Brasília, Campus Darcy Ribeiro - FACE North Wing, 70910-900, Brasília, DF, Brazil

    Vinicius Amorim Sobreiro

Authors
  1. Marcelo Botelho da Costa Moraes
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  2. Marcelo Seido Nagano
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  3. Vinicius Amorim Sobreiro
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Corresponding author

Correspondence to Marcelo Botelho da Costa Moraes .

Editor information

Editors and Affiliations

  1. Faculdade de Economia, Administração e Contabilidade, University of Brasilia, Brasília, Brazil

    Patricia Guarnieri

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da Costa Moraes, M.B., Nagano, M.S., Sobreiro, V.A. (2015). Stochastic Cash Flow Management Models: A Literature Review Since the 1980s. In: Guarnieri, P. (eds) Decision Models in Engineering and Management. Decision Engineering. Springer, Cham. https://doi.org/10.1007/978-3-319-11949-6_2

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  • DOI: https://doi.org/10.1007/978-3-319-11949-6_2

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-11948-9

  • Online ISBN: 978-3-319-11949-6

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