Rivaud-Danset, Dorothée - In: Jahrbücher für Nationalökonomie und Statistik 221 (2001) 5-6, pp. 689-709
Summary Firms need flexibility, defined as the capacity to react to unexpected situations. Corporate flexibility improves with liquidity. For non-financial firms, sources of liquidity are twofold: internal, by keeping cash, and external, through a borrowing power, usually from banks. On the...