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Ethical Cash Management ?
San-José, Leire
San-José, Leire
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no33-sanjose.pdf
Adobe PDF, 497.68 KB
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"To respond to this problem, we need a change in corporate financial culture, which in our view can only optimize overall cash holdings and generate value for all if financial strategies rest on one basic pillar, namely mutual trust. Situations of illiquidity, insolvency and bankruptcy in which companies find themselves must be analysed not only from the point of view of their own corporate management, but from a broader perspective that takes account of the (essentially adverse) impact on the entire group of stakeholders. Thus, and from the point of view trust among interest groups, it may be considered that improved results - social as well as economic - can be achieved for all those involved if cash-holding techniques are based on the notion of mutual benefit and the common good."(pg 59)
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2009
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With permission of the license/copyright holder