The basic financial purpose of corporation is creation of its value. Liquidity management should also contribute to realization of this fundamental aim. Many of the current asset management models that are found in financial management literature assume book profit maximization as the basic...

Distinct from the existing literatures that most of them focussed on the case of a single change on issues related to structural change. This study addresses the practical advantage of hedging ratio when time varying structural breakings are considered. Data used in this study include daily...