haku: @indexterm CURRENT ASSETS / yhteensä: 2
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| Tekijä: | Stark, A. W. |
| Otsikko: | On the observability of the cash recovery rate. |
| Lehti: | Journal of Business Finance and Accounting
1987 : SPRING, VOL. 14:1, p. 99-108 |
| Asiasana: | RATE OF RETURN FINANCIAL MODELS CURRENT ASSETS CASH FLOW |
| Kieli: | eng |
| Tiivistelmä: | It is asserted that the cash recovery rate,as defined in the model-building exercises of Jiri (1978 and 1979) and Salamon (1982 and 1985),is unobservable if firms have current asset balances. This implies that the cash recovery rate used empirically (the ECRR) is only a proxy for the true cash recovery value (the TCRR). Using a model similar so that of Salamon (1985),extended to explicitly recognize current assets,it is found that the ECRR converges to a constant and its relationship with the TCRR is investigated. Not under all circumstances will the ECRR be a good proxy for the TCRR. |
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