OPTIMAL CASH MANAGEMENT UNDER CONDITIONS OF UNCERTAINTY
研究如何管理由现金和有价证券组成的流动性资产组合，以应对已知金额但支付时间不确定的债务安排，总结了美国公司的现金管理实践和文献中的模型，并给出了Mao和Sarndal问题的优化解。
The cash management problem considered here is the management of a liquid assets portfolio, composed of cash and marketable securities. The policies of US corporations towards investing surplus cash as reported in published surveys are summarised and models for the management of cash and marketable securities as proposed in the literature are outlined. The optimal solution is then presented for a particular cash management problem, first introduced by Mao and Sarndal. The problem is how to manage a portfolio of cash and marketable securities in order to service a given debt schedule, where the amounts are known but the timing of the payments is uncertain.