Open AccessTopics In Finance Part IX Working Capital Management
Author(s) -
Judy Laux
Publication year - 2012
Publication title -
american journal of business education
Language(s) - English
Resource type - Journals
eISSN - 1942-2512
pISSN - 1942-2504
DOI - 10.19030/ajbe.v5i6.7386
Subject(s) - finance , shareholder , financial management , structured finance , money management , perspective (graphical) , financial capital , corporate finance , working capital , capital (architecture) , focus (optics) , business , agency (philosophy) , economic capital , capital market , accounting , economics , corporate governance , human capital , financial crisis , sociology , computer science , macroeconomics , economic growth , history , social science , physics , archaeology , artificial intelligence , optics
The final topic in a series looking at financial management from a theoretical perspective, working capital management provides the focus of the current article. We investigate how three key axiomsthe risk-return tradeoff, agency conflicts, and stockholder wealth maximizationrelate to this activity that occupies much of the financial managers time.