Cash management strategies and firm financial performance

Cash(liquidity) management is at the heart of a firm’s financial management. It is a silver lining between the bankruptcy and the success story of a company. Therefore, this study intends to contribute some insights into cash management practices and how firms can use them to achieve sound financial performance. This study provides a comprehensive literature review on existing theories and cash management practices that are useful in decision making. After the analysis of the available literature, the study highlights important theories including trade-off theory (TOT), transaction model, precautionary measures, financial hierarchy, and cash flow theory. Furthermore, management practices such as stochastic cash management model, speeding up cash collections, centralization & decentralization of management, asset portfolio diversification, and cash disbursement are discussed. The study suggests that a sound financial performance can be achieved through a hybrid approach and through adaptation and embracing innovations in cash management systems.

Linkable Ring Signature Scheme Using Biometric Cryptosystem and NIZK and Its Application

Biometric encryption, especially based on fingerprint, plays an important role in privacy protection and identity authentication. In this paper, we construct a privacy-preserving linkable ring signature scheme. In our scheme, we utilize a fuzzy symmetric encryption scheme called symmetric keyring encryption (SKE) to hide the secret key and use non-interactive zero-knowledge (NIZK) protocol to ensure that we do not leak any information about the message. Unlike the blind signature, we use NIZK protocol to cancel the interaction between the signer (the prover) and the verifier. The security proof shows that our scheme is secure under the random oracle model. Finally, we implement it on a personal computer and analyze the performance of the constructed scheme in practical terms. Based on the constructed scheme and demo, we give an anonymous cryptocurrency transaction model as well as mobile demonstration.

Distributed Energy IoT-Based Real-Time Virtual Energy Prosumer Business Model for Distributed Power Resource

Smart energy technologies, services, and business models are being developed to reduce energy consumption and emissions of CO2 and greenhouse gases and to build a sustainable environment. Renewable energy is being actively developed throughout the world, and many intelligent service models related to renewable energy are being proposed. One of the representative service models is the energy prosumer. Through energy trading, the demand for renewable energy and distributed power is efficiently managed, and insufficient energy is covered through energy transaction. Moreover, various incentives can be provided, such as reduced electricity bills. However, despite such a smart service, the energy prosumer model is difficult to expand into a practical business model for application in real life. This is because the production price of renewable energy is higher than that of the actual grid, and it is difficult to accurately set the selling price, restricting the formation of the actual market between sellers and consumers. To solve this problem, this paper proposes a small-scale energy transaction model between a seller and a buyer on a peer-to-peer (P2P) basis. This model employs a virtual prosumer management system that utilizes the existing grid and realizes the power system in real time without using an energy storage system (ESS). Thus, the profits of sellers and consumers of energy transactions are maximized with an improved return on investment (ROI), and an intelligent demand management system can be established.

Students’ perceptions of visibility in physical education

The purpose of this study is to explore students’ perceptions of visibility in physical education (PE) using a single cumulative case study approach. Data were generated from the descriptive field notes of seven participant observations ( n = 77), individual semi-structured interviews ( n = 13) and five focus group interviews ( n = 18) with ninth-grade students (ages 14–15 years) from three classes in a public lower secondary school in Norway. The findings show that students perceive visibility differently depending on the context; some students like being visible in PE, while others dread it. Perceptions change rapidly and are situation-specific, influenced by the lesson content, the way the teacher facilitates the lessons, self-perception shaped by past experiences, the presence, actions, and attitudes of fellow students, body pressure and societal body ideals. The findings actualise the relevance of the transaction model of stress and coping ( Lazarus and Folkman, 1984 ) in determining when visibility in PE is and is not perceived as stressful. Consequently, the organization of the PE environment benefits from these insights.