Conclusion and Recommendations for Future Research

Abstract

This final chapter provides a summary of the research developed by the study. Initially, this chapter discusses briefly the background and literature that motivated this study. Next, how to achieve its main objective: developing sound financial management strategies through a financial optimisation model is reviewed. Section 8.4 presents how this book achieves its specific aims which are: (1) determining the GCG practices, business risks and regulatory environments that should be incorporated into the financial management strategies of a company; (2) quantifying the policy and mechanisms of GCG practices and identifying the right proxy for them; (3) designing an integrated multi-period financial optimisation model based on managerial and financial accounting perspectives; and (4) using a FCF approach, which is believed to be the best approach, to quantify the economic benefits of GCG practice.