Multinational Cash Management in Europe Towards Centralisation and Disintermediation: The Philips Case
Liberalisation and deregulation of financial markets, lower currency volatility and the introduction of the euro have reduced transaction and bankruptcy costs for multinationals in Europe. Internal European transfers of cash have become easier and cheaper. This has enabled the centralisation of cash...
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| Veröffentlicht in: | Managerial finance 2005-10, Vol.31 (10), p.65-74 |
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| container_title | Managerial finance |
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| creator | Wester man, Wim von Eije, Henk |
| description | Liberalisation and deregulation of financial markets, lower currency volatility and the introduction of the euro have reduced transaction and bankruptcy costs for multinationals in Europe. Internal European transfers of cash have become easier and cheaper. This has enabled the centralisation of cash management activities. The centralisation at headquarters of multinational enterprises has also opened the road to financial disintermediation. These trends may have helped to create conglomerate benefits in Europe. The case of the cash management at the Netherlands-based Royal Philips Electronics is used to illustrate these tendencies. |
| doi_str_mv | 10.1108/03074350510769929 |
| format | Article |
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| fulltext | fulltext |
| identifier | ISSN: 0307-4358 |
| ispartof | Managerial finance, 2005-10, Vol.31 (10), p.65-74 |
| issn | 0307-4358 1758-7743 |
| language | eng |
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| source | Emerald ejournals Premier; Emerald |
| subjects | Banking industry Banks Case studies Cash flow forecasting Cash management Centralisation Centralization Conglomerate discounts Currency Deregulation Disintermediation Electronics industry Euro European Monetary Union European Union Eurozone Foreign exchange controls Hedging Liberalisation Liberalization Money markets Multinational corporations Multinationals Securities markets Trade liberalization Trends |
| title | Multinational Cash Management in Europe Towards Centralisation and Disintermediation: The Philips Case |
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