Ocena efektywności modelu zarządzania środkami pieniężnymi wykorzystującego metodę Millera-Orra
Estimation of the efficiency of the cash management model using Miller-Orr method

Summary/Abstract: Liquidity management is of fundamental importance in business activity, espe¬cially in time of recession or stagnation. The subject of the article is connected with cash management. The goal of cash management is to maintain the minimum cash balance that will provide a firm with sufficient liquidity and to enhance its profitability without exposing it to undue risk. Some models may be applied to cash management. The decisions covered by the models deal with the size and timing of transfers between the cash and marketable securities. The goal of the article is to create the complex system of cash management and to show the way of using the theoretical cash management models in practice.

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