ABSTRACT Cash management models are usually based on a set of bounds that complicate the selection of the optimal policies due to nonlinearity. We here propose to linearize cash management models to guarantee optimality through linear-quadratic multiobjective compromise programming models. We illustrate our approach through a reformulation of the suboptimal state-of-the-art Gormley-Meade’s model to achieve optimality. Furthermore, we introduce a much simpler formulation that we call the boundless model that also provides optimal solutions without using bounds. Results from a sensitivity analysis using real data sets from 54 different companies show that our boundless model is highly robust to cash flow prediction errors.

中文翻译：

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现金管理的无限多目标模型

摘要 现金管理模型通常基于一组边界，由于非线性，这些边界使最优策略的选择复杂化。我们在这里建议线性化现金管理模型，以通过线性二次多目标折衷规划模型来保证最优性。我们通过重新制定次优的最先进的 Gormley-Meade 模型以实现最优性来说明我们的方法。此外，我们引入了一个更简单的公式，我们称之为无限模型，它也提供了不使用边界的最佳解决方案。使用来自 54 家不同公司的真实数据集进行的敏感性分析结果表明，我们的无限模型对现金流预测错误具有高度稳健性。