The Edge of Risk Menu 搜索
New thinking on corporate risk and resilience in the global economy.
Economy

在Covid-19世界中,现金决策基于生存

自财务专业人员(AFP)协会首先开始通过该数据开始收集数据公司现金指示器®(CCI),前提是,当美国企业部署其现金储备时,他们正在通过资本支出投资他们的公司并增加招聘。这些被认为是良好的经济指标。但在目前的环境中,减少现金的公司主要是188bet滚球投注这样做,以便保持可行。

Cash Deployment on the Rise

Each quarter, AFP asks senior treasury and finance professionals about their company’s cash holdings. According to the latest CCI, companies are increasingly tapping into their cash reserves. More than a third of the 156 survey respondents said they plan to reduce their holdings in the coming quarter, while 28% did so in Q2.

虽然总有一些异常值,但相对少量的公司正在减少其现金储备来发展他们的业务。相反,减少现金和短期投资持有的主要司机是商业绩效的恶化(58%,用于部署现金Q2的公司和51%的公司计划在第三季度这样做)。四分之一的受访者表示,他们正在卸货以减少债务。

Source: Association for Financial Professionals

Cash Accumulation

While more organizations accumulated cash than decreased it in Q2 — 48% to be exact — most did so as a defensive measure. The quarter-over-quarter index reading was +20, while the year-over-year indicator was +29.

展望未来,现金积累可能是decline over the summer, as only about 24% of businesses indicated that they would be adding to their cash reserves in Q3. Those planning to amass more cash are doing so to guard against what they anticipate will be very challenging months. On a slightly encouraging note, about 46% of the companies that are planning to build cash in Q3 said they are doing so due to improved business performance.

If organizations are using cash holdings to stay afloat, it will likely be quite a while before we see any signs of treasury and finance leaders investing in their businesses.

此外,Q2中观察到的一些现金增加是工资核算保护计划(PPP)的直接结果。随着国会的额外刺激,看起来有问题,24%的组织预期增加现金的增加可能证明是对本季度的估计过高。

安全第一

公司在第二季度继续保守姿态,优先于产量的安全性和流动性。20%的组织更加保守,季度短期投资,季度短期投资,而只有3%的侵略性程度更为侵略性。对投资强调的谨慎立场强调金融专业人员对经济状态的不确定性。

Analysis and Economic Outlook

Covid-19继续在美国的重要令人担忧。随着冠状病毒案件的一些州,冠状病毒病例的增加,当经济安全地将妥善重新开放业务时,没有明确的迹象表明。188bet投注网站虽然失业数量最近反映了一些改进,但非常困难预测我们是否会在其他关键指标中看到这些数字或改进的持续增加。此外,危机是全球性的,因此旅行限制正在影响这些组织的行动。

The effects of the pandemic have been truly devastating. Some industries, such as hospitality, were more severely impacted, but virtually all sectors saw an impact. If organizations are using cash holdings to stay afloat, it will likely be quite a while before we see any signs of treasury and finance leaders investing in their businesses.

Companies continue to look to their governments for assistance. In the U.S., the Coronavirus Aid, Relief and Economic Security (CARES) Act was enacted as a response to the economic fallout. In the European Union, member states agreed to distribute funds to assist the bloc. But more government assistance will be needed around the globe as the crisis continues to take its toll on individuals and businesses.

金融专业人士无法确定what the next few months have in store for their organizations, creating a tremendous sense of unease. What we know for certain is that the next few months will be extremely challenging for businesses globally, and repercussions on most economies will be severe.

James A. Kaitz

President and CEO of Association for Financial Professionals @jkaitzafp.

Jim Kaitz是总裁兼首席执行官法新社, an association that represents over 16,000 treasury and financial professionals located around the world. He was formerly executive vice president and chief operating officer of Financial Executives Institute, a professional association of over 14,000 senior financial executives representing 8,000 companies in the United States.

边缘的日常通讯提供关于企业风险和弹性的新思路。 Subscribe