Working Capital Management

Hardcover | April 30, 2010

byLorenzo A. Preve, Virginia Sarria-Allende

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As soon as a firm starts operating and furthermore, the moment it starts to grow, it needs to come to a decision about how to invest funds, how much cash and inventory to hold on to, how much financing to provide to customers, how to obtain the necessary funds, how much debt to take on and inwhich terms - all the answers to these questions have serious consequences for a firm's cash flow and profitability. Working Capital Management is a hands-on look at the crucial decision of how to define and finance the operating investments of a business. Starting with an overview of the fundamental framework of corporate finance, the authors set out to define the central, and usually underestimated, role thatworking capital plays within this structure. They show not only how to prevent the losses that result from mishandling of working capital, but also how to fully exploit the strategic potential that intelligent, expert management of working capital allows. The book is the first to emphasize therelevance of the interplay between the investment and finance aspects of working capital, by discussing all of the main components of a firm's operating expenses from both an investment and finance perspective. After focusing on the varying aspects and themes of working capital, such as inventorymanagement, strategic accounting, trade credit, and short-term debt, the authors move on to identify the long-term implications and opportunities raised by this often overlooked aspect of corporate finance. Lorenzo Preve and Virginia Sarria Allende have at last provided a resource that identifies the impact of day-to-day business decisions, uncovering a highly influential, aspect of all firms' financial situation.

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As soon as a firm starts operating and furthermore, the moment it starts to grow, it needs to come to a decision about how to invest funds, how much cash and inventory to hold on to, how much financing to provide to customers, how to obtain the necessary funds, how much debt to take on and inwhich terms - all the answers to these quest...

Lorenzo Preve is an associate professor at IAE Business School, Universidad Austral. His main research interests are in corporate finance, with a special emphasis in corporate risk management, working capital management and restructuring and financial distress. He is also interested in the applications of corporate finance to emergi...
Format:HardcoverDimensions:192 pages, 9.25 × 6.13 × 0.98 inPublished:April 30, 2010Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:019973741X

ISBN - 13:9780199737413

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Table of Contents

PrefaceIntroduction1. Corporate Finance2. Working Capital3. Working Capital, Seasonality, and Growth4. Financial Analysis and Working Capital5. Cash Management6. Managing Account Receivables7. Managing Inventories8. Managing Account Payables9. Short-term Debt10. Working Capital and Corporate Strategy11. Working Capital Financing Costs12. Patterns in Working CapitalNotesReferencesIndex