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2014 | OriginalPaper | Chapter

Introduction

Author : Grzegorz Michalski

Published in: Value-Based Working Capital Management

Publisher: Palgrave Macmillan US

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The scientific aim of this monograph is to present the essence of financial liquidity management under specific conditions faced by enterprises with risk and uncertainty. Enterprises differ from one another in risk sensitivity. This difference affects the area of taking decisions by the managers of those enterprises. The result of interactions between levels of liquidity and sensitivity to risk affects the managers of such enterprises (Altman 1984; Tobin 1958; Back 2001; Tobin 1969).

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