ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Cash Management in a Developed Economy

Cash Management in a Developed Economy Surendra S Singhvi John A Kaupisch The purpose of this' paper is to establish the relationship between the thoughts of the academic world and the practical management of cash by corporations. The problem, as considered by both views, is; "How do corporations manage their cash and why?" The paper is divided into three parts: the first part of the paper deals with the academic view of cash management; the second part presents cash management policies and practices of three large United States corporations; and the last part compares the academic with the practical approach "FOR the purpose of the present text, we shall broaden the concept somewhat by defining finance as that administrative area or set of administrative functions in an organisation which have to do with the management of the flow of cash so that the organisation will have the means to carry out its objective as satisfactorily as possible, and at the same time meet its obligations as they become due.''1 This quote shows the importance of cash management and, to an extent, the reason why this topic has been chosen as one worthy of expanded thought. First, it is believed that the term "cash management" must be expanded to "cash items management" because, in recent years, short-term liquid paper as well as actual money have both been called cash. Therefore, cash has two forms

The Indian Manager of the 1980s

Arabinda Ray The history of Indian industrial management in the period since Independence has made it quite clear that while we had a strong family and hierarchical tradition, we, unlike Japan, did not choose to exploit it in building our industrial, including management, relation patterns. Instead we chose to adopt norms of the Western world as the massive amount of American management literature that has been absorbed in this country in the last two decades will testify.

Re-incarnations Too Soon

Economic Forecasting Phiroze B Medhora Cost-of-Capital Framework for Management Control S K Bhattacharyya Cash Management Surendra S Singhvi John A Kauplsch Term Finance for Industry V V Bhatt Indian Manager of the 1980s Arabinda Ray Parsi Seths as Entrepreneurs Amalendu Guha Review of Management is published four times a year, on the last Saturday of February May, August and November.

Parsi Seths as Entrepreneurs, 1750-1850

Amalendu Guha This paper traces the growth of the Parsi business community over a period of 100 years till 1850. The author suggests that in the favourable circumstances then prevailing, a modern shipbuilding industry should have been me natural outcome of Parsi enterprise but for the hostility of the then ruling power Which by discouraging the incipient shipbuilding and navigation industry halted and distorted a potential industrialisation process.

A Cost-of-Capital Framework for Management Control

for Management Control S K Bhattacharyya The focus of most if not all mangement control system in use is only on the performance, of operating managers. The top managers are, by and large, left out of the control and evaluation pro- cesses.

Without Camouflage

Too General Issues H B Shivamaggl Water Management Donald A Williams Mechanisation and Rural Employment Martin H Billings Arjan Singh Tenancy in Dynamic Setting V S Vyas Rajasthan's Land Policies N S Jodha Capitalist Farmer Ashok Rudra Review of Agriculture is published four times a year, on the last Saturday of March, June, September and December.

Mechanisation and Rural Employment-With Some Implications for Rural Income Distribution

With Some Implications for Rural Income Distribution Martin H Billings Arjan Singh This paper attempts to infer the influence of technological changes in farm production methods on employment and income distribution among cultivators and agricultural labourers from a physical projection model. Although a less-than-perfect vehicle for such analysis, the model can provide insight into the pattern of labour displacement, its possible rate and the composition of displaced farm workers.

FROM THE CHAIR-Indo-Burma Petroleum Records Highest Sales

of Agricultural Economics, January- March 1963. 5 Following the step method, we note that the HYV alone will bring about a 13 per cent increase in demand for human labour above what it otherwise would have been using the conventional technology, the successive changes reduce this new level by 32 per cent. Pumps reduce the level by 9 per cent; threshers 7 per cent; cane crushers and corn shellers by 3 per cent; tractors 10 per cent and reapers by 3 per cent.

In Search of the Capitalist Farmer

Ashok Rudra The first two instalments of this report on a sample survey of large farms in Punjab appeared in the Reviews of Agriculture of September 27 and December 27, 1969. Certain average characteristics of large scale farming in Punjab were presented in these two articles. However, the purpose of the survey was to study not just large-scaleif such a category could be scientifically defined and identified empirically. pick out farmers having certain characteristics and to study the possible them. [The statistical work involved inFarm Management Centre of Visva IN our preceding two reports on the survey (carried out by the Agro-Economic Research Centre of the University of Delhi) among the large farmers of Punjab, defined as farmers cultivating more than 20 acres of land, we presented certain average characteristics of large-scale farming. However, as we mentioned in the first of the two above-mentioned articles, we had set out to study not just large-scale farming but capitalist fanning, if such a category could be defined scientifically and identified empirically. The reason why we took a sample of large farms rather than capitalist farms is that to draw a sample we have to have a definition of the population and we did not have at our disposal any operational definition of a capitalist farmer with the help of which we could identify capitalist farmers and draw up a list of such fanners in each village drawn in the first stage sampling. The reason why we have drawn a sample of large farmers as a surrogate for capitalist farmers is that we have assumed the intersection of the set of capitalist farms and the set of large farms to contain most of the elements of the set of capitalist farms. Which, of course, does not mean that most large-scale farms are capitalist farms; though it docs mean that most capitalist farms are (assumed to be, in Punjab) large.

Tenancy in a Dynamic Setting

V S Vyas The tenant is taken, by researchers as well as by policy-makers, to be a small ill-equipped farmer, rack-rented and otherwise exploited by the landowner. There is much validity in this description of landowner-tenant relations in a stagnant, traditional agrarian system. But once this situation changes and some dynamism is injected into the agricultural sector, this description and the policy prescription implicit in it


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