REVIEW OF FINANCIAL MANAGEMENT IN PRIVATE FIRMS: UNLOCKING THE CASH MANAGEMENT MODEL

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F22%3A63554558" target="_blank" >RIV/70883521:28120/22:63554558 - isvavai.cz</a>

Výsledek na webu

<a href="https://ijek.org/index.php/IJEK/article/view/172" target="_blank" >https://ijek.org/index.php/IJEK/article/view/172</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.37335/ijek.v10i2.172" target="_blank" >10.37335/ijek.v10i2.172</a>

Jazyk výsledku

angličtina

Název v původním jazyce

REVIEW OF FINANCIAL MANAGEMENT IN PRIVATE FIRMS: UNLOCKING THE CASH MANAGEMENT MODEL

Popis výsledku v původním jazyce

Financial management is a complex body of knowledge that is still evolving without any successful template for its practice, especially in private firms. This paper reviews research on actual financial management in private firms to see if cash management models critical to working capital management are incorporated. The approach is to review all the models in extant literature used for cash management, itself a component of working capital. However, search results show that only Pugmire (1952) outlines the activities involved in actual financial management practice for local schools in the United States. He identified the generalizable constituents of the financial management process, including budgeting, accounting, auditing, records and reports, and cost analysis. The choice of cash as the review focus is because it is the essence of financial management in private firms: determining and sourcing capital as cash and utilizing it by allocation process to generate more cash and maximize the firm&apos;s value to stakeholders. Therefore, this paper contributes to financial management literature by extending Pugmire&apos;s (1952) template for public schools with cash management models in extant literature that can also be adapted for private firms, with potential for further research.

Název v anglickém jazyce

REVIEW OF FINANCIAL MANAGEMENT IN PRIVATE FIRMS: UNLOCKING THE CASH MANAGEMENT MODEL

Popis výsledku anglicky

Financial management is a complex body of knowledge that is still evolving without any successful template for its practice, especially in private firms. This paper reviews research on actual financial management in private firms to see if cash management models critical to working capital management are incorporated. The approach is to review all the models in extant literature used for cash management, itself a component of working capital. However, search results show that only Pugmire (1952) outlines the activities involved in actual financial management practice for local schools in the United States. He identified the generalizable constituents of the financial management process, including budgeting, accounting, auditing, records and reports, and cost analysis. The choice of cash as the review focus is because it is the essence of financial management in private firms: determining and sourcing capital as cash and utilizing it by allocation process to generate more cash and maximize the firm&apos;s value to stakeholders. Therefore, this paper contributes to financial management literature by extending Pugmire&apos;s (1952) template for public schools with cash management models in extant literature that can also be adapted for private firms, with potential for further research.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

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OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2022

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Journal of Entrepreneurial Knowledge

ISSN

2336-2952

e-ISSN

2336-2960

Svazek periodika

10

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

12

Strana od-do

95-106

Kód UT WoS článku

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EID výsledku v databázi Scopus

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