Development of Cash management policies using Hibrids computational models

• Grant number: 13/10693-3
• Support Opportunities: Regular Research Grants
• Start date: November 01, 2013
• End date: October 31, 2015
• Field of knowledge: Applied Social Sciences - Administration - Accounting
• Principal Investigator: Marcelo Botelho da Costa Moraes
• Grantee: Marcelo Botelho da Costa Moraes
• Host Institution: Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto (FEARP). Universidade de São Paulo (USP). Ribeirão Preto , SP, Brazil

Abstract

Manage the available cash balance is a constant problem in all types of organizations, thus there is a need to control financial resources in order to obtain the best result for the organization. Thus, the definition of cash balance now has a quantitative approach in order to promote the optimization of this financial stock in order to minimize the costs associated with the maintenance or absence of cash available. In perfect markets, the cash balance function is irrelevant as long as enough to pay off the commitments at maturity. So, this research project aims to answer the following problem: How to develop management policies of cash balance, considering the factors that affect cash, obtaining the minimum cost, through different levels of liquidity and financial exposure to risk, using cash flows projections with hybrid computational models? Results are expected as the identification of factors impact on the level of funds in cash and cash equivalents of Brazilian companies and the development of hybrid computational models able to obtain an optimal policy management of cash available. For this, the project proposes the use of evolutionary computing models with high complexity in their development, aiming to make possible the reduction of the limitations of current models, which do not consider aspects of liquidity and risk involved in the decision of cash management. Thus, making possible the increase of management policies, in organizations. (AU)