Note—The Bierman-Hausman Credit Granting Model: A Note
指出Bierman-Hausman信用授予模型在考虑时间价值时假设过于理想化，并提出了一个简单修正以纳入更现实的现金流时间假设。
To date, the Bierman-Hausman (Bierman, H., Jr., W. H. Hausman. 1970. The credit granting decision. Management Sci. 16 B519–B532.) model remains the most rigorous normative effort in credit granting. This note points out that the procedure suggested by Bierman and Hausman for considering the time value effect is valid only under the extremely unrealistic assumption of a firm being able to simultaneously collect its receivables and make payments to its suppliers. A simple modification is presented to incorporate more realistic cash flow timing assumptions.