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Reasons of the Support of the Financial Liquidity in the Firm

Grzegorz Michalski
Wroclaw University of Economics



FINANSE I BANKOWOSC NR 11, D. Misinska, M. Myszkowska, eds., pp. 115-124, Wroclaw, 2003

Abstract:     
Industrial companies invest large sums in the support of financial liquidity. The article presents reasons of the support of the financial liquidity. They consist of the possibility of the saving on transaction costs, provisions before expensive and negative results of the lack of liquidity, possibilities of executing of unusually profitable sensitive investments on the time and the possibility of the use properly high-level of the liquidity in the aim of financing its own activity and the investment.

Note: Downloadable document is in Polish.

Keywords: Demand for Liquidity, Liquidity balances, Risk, Uncertainty, Real Options, Option Value of Liquidity, Short-Term Financial Management, Working Capital Management

JEL Classifications: G39, G32, G11, M11, D81, O16, P33, P34

Accepted Paper Series

Date posted: July 18, 2007 ; Last revised: August 05, 2007

Suggested Citation

Michalski, Grzegorz Marek, Reasons of the Support of the Financial Liquidity in the Firm. Available at SSRN: http://ssrn.com/abstract=1000471


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Contact Information

Grzegorz Marek Michalski (Contact Author)
Wroclaw University of Economics ( email )
Komandorska Street 118/120, p. Z-1, KFPiZW
Department of Corporate Finance & Value Management
Wroclaw , Lower Silesia 53-345
Poland
0048503452860 (Phone)
0048717181717 (Fax)
HOME PAGE: http://michalskig.ae.wroc.pl/
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