Value-Based Working Capital Management Determining Liquid Asset Levels in Entrepreneurial Environments

Abstract

Scientific aim of the monograph is to present the essence of financial liquidity management under specific conditions, faced by enterprises with risk and uncertainty. Enterprises differ one from another in risk sensitivity. In this monograph the research hypothesis is the claim that more risk sensitive enterprises are so different from less risk sensitive, that different approach to managing their working capital and resulting from that managing corporate liquidity is reasonable. The monograph discusses the behavior of enterprises and the relationships between them and other actors in the market, occurring in the management process under the conditions of limited resources.