Centralization of Treasury Management in Multinational Companies and the Role of Regional Treasury Centres
Centralization of treasury activities offers companies the ability to achieve higher efficiencies, greater transparency and access to real time information across a broad geographic area, multiple time zones, and many entities. There are different phases in the centralization of treasury management from the decentralized treasury towards fully centralized cash and treasury management. Many firms start with the centralization of foreign exchange and interest rate risk management as the first step towards centralization of treasury activities, and then proceed through cash and liquidity management up to fully centralized treasury. The location of the treasury centre of an international grouping is a very strategic and hence important matter. The decision depends on numerous factors, such as the corporate tax treatment in the hands of the treasury centre itself, the applicable withholding tax rates and corresponding eligibility- to foreign tax credits.
centralization of treasury management outsourcing regional treasury centre global treasury centre JEL Classification Code G15
Petr Polak
Faculty of Business, Economics and Policy Studies Universiti Brunei Darussalam Gadong BE1410, Brunei Darussalam
国际会议
海口
英文
501-505
2011-07-15（万方平台首次上网日期，不代表论文的发表时间）