Role of download time as a key in Web cache management policies

This research investigates the opportunity cost as an indirect cost of financial distress from two perspectives. First, indirect cost is estimated using multi-stage financial distress and non-linear proxy of debt. Second, receivable and inventory management are studied as determinants of indirect cost. The sample includes ongoing Pakistani firms that were healthy in the previous year and documenting positive gross profit. Results showed that firms bear opportunity loss primarily due to leverage rather than multistage financial distress. However, a non-linear relationship is found between leverage and indirect cost. Results further explored the impact of multistage financial distress on internal operations, i.e., working capital policies. It is found that firms manage receivable and inventory simultaneously during the multistage financial distress. Results revealed that increasing receivables and decreasing inventory is suitable during the transition of healthy firms to initial stage of financial distress, i.e., profit reduction. However, decreasing receivables, along with holding more inventory, is recommended for healthy firms that face liquidity problems subsequently. It is concluded that managers can reduce the indirect cost after deploying the optimal debt ratio and recommended receivable and inventory management policies.

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The impact of institutional factors on corporate mechanism of cash adjustment – New evidence from emerging Asia

International Journal of Managerial Finance ◽

10.1108/ijmf-01-2021-0032 ◽

2022 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Santanu Das ◽

Ashish Kumar ◽

Asit Bhattacharyya

Keyword(s):

Financial Development ◽

Cash Holdings ◽

Content Type ◽

Adjustment Mechanism ◽

Management Policies ◽

New Evidence ◽

Corporate Cash Holdings ◽

Adjustment Dynamics ◽

Country Specific

PurposeThe purpose of this study is to understand how the business environment of a country has an impact on cash management policies of the firms and also to investigate if there is any asymmetry in cash adjustment dynamics when a firm deviates from its long-term target of cash holdings.Design/methodology/approachUsing a sample of seven emerging Asian countries in the period 2001–2019, the authors investigate the role of country specific variables in the corporate cash holdings and their cash adjustment mechanism. They use the panel data regression method to estimate the results.FindingsThe authors find that the overall financial development of a country has a significant impact on corporate cash holdings and cash adjustment dynamics. When a firm has excess cash, the speed of adjustment towards the target is faster as compared to when it has deficit cash holdings. Further, when a firm holds excess cash, it adjusts towards the target using cash from investments; in case of deficit cash holdings, the adjustment happens via cash from financing activities.Practical implicationsThe results of the study are helpful to corporate managers as these are important references to them to understand and design cash management policies by considering factors that are measured at the country level. It also provides them a clearer understanding about the role of corporate board and information asymmetry in cash holdings.Originality/valueThis is the first study which examines the role of country-specific variables on corporate cash holdings and their adjustment mechanism of firms in emerging Asia. Further, the study extends the literature by providing new evidence that there is asymmetry in cash adjustment dynamics of firms after controlling for the overall financial development of a country.

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The Role of Stakeholders’ Risk Perception in Water Management Policies. A Case-Study Comparison in Southern Italy

Smart and Sustainable Planning for Cities and Regions - Green Energy and Technology ◽

10.1007/978-3-030-57332-4_31 ◽

2021 ◽

pp. 435-449

Author(s):

Stefania Santoro ◽

Giulia Motta Zanin

Keyword(s):

Water Management ◽

Risk Perception ◽

Southern Italy ◽

Management Policies

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Surviving from garbage: the role of informal waste-pickers in a dynamic model of solid-waste management in developing countries

Environment and Development Economics ◽

10.1017/s1355770x06002853 ◽

2006 ◽

Vol 11 (3) ◽

pp. 371-391 ◽

Cited By ~ 31

Author(s):

ROCÍO DEL PILAR MORENO-SÁNCHEZ ◽

JORGE HIGINIO MALDONADO

Keyword(s):

Developing Countries ◽

Waste Management ◽

Solid Waste ◽

Dynamic Model ◽

Solid Waste Management ◽

Waste Collection ◽

Management Policies ◽

The Impact ◽

Waste Pickers

In developing countries, informal waste-pickers (known as scavengers) play an important role in solid waste management systems, acting in a parallel way to formal waste collection and disposal agents. Scavengers collect, from the streets, dumpsites, or landfills, re-usable and recyclable material that can be reincorporated into the economy's production process. Despite the benefits that they generate to society, waste-pickers are ignored when waste management policies are formulated. The purpose of this paper is to integrate the role of scavengers in a dynamic model of production, consumption, and recovery, and to show that, in an economy producing solid waste, efficiency can be reached using a set of specific and complementary policies: a tax on virgin materials use, a tax on consumption and disposal, and a subsidy to the recovery of material. A numerical simulation is performed to evaluate the impact of these policies on landfill lifetime and natural resource stocks. A discussion on the implementation of these instruments is also included.

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