A global capital strategy should be the product of a philosophy, a policy, a plan, and a clear process for implementation: A well-conceived philosophy addresses cash and debt, approach to cash balances and investments, and approach to risk. A good policy defines scope, sets authority, focuses on risk management, offers boundaries, and prescribes actions. An effective plan defines and documents treasury goals and specific tactics for achieving them. Effective implementation requires a four-stage process in which three preliminary stages--evaluate, develop, and monitor--precede the actual implementation stage.
CITATION STYLE
Blake, J. W., & Jordahl, E. A. (2010). Managing risk through a global capital strategy. Healthcare Financial Management : Journal of the Healthcare Financial Management Association, 64(7), 62–69.
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