A model for multinational corporate money management

Martha S Hollis

Omega, 1980, vol. 8, issue 1, 95-103

Abstract: A centralized multiple-period money management model is developed and applied to the case of a simulated US based MNC with subsidiaries in the United Kingdom, Canada and West Germany. Only the first of three period's decisions are intended for implementation in the moving horizon model. The inclusion of two future periods permits current actions to be executed with imperfect but valuable information contained in forecasts of future spot exchange rates produced by moving-horizon least-squares generators. For the set of assumptions invoked it is seen that the centralized model provides significantly better profit results than zero-net exposure approaches.

Date: 1980
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