Supporting payment management at a public university: a proposal for a multicriteria constructivist model
Abstract
This research intended to build a multicriteria constructivist decision-making support model to review performance and decision-making support related to payment management at the Federal University of Latin American Integration (UNILA) in Brazil. For this purpose, the Multicriteria Constructivist Decision-Making Support Method (MCDA-C) was selected. Using semi-structured interviews, 17 criteria (indicators) were laid down, which allowed an overall performance assessment and scored 21.89 points (on a 0-100 scale). In six of the 17 criteria, UNILA performs quite below the expectations of the decision-maker (Head of the Accounting and Finance Department). In order to show how the model can support payment management decision-making, the process of creating improvement actions is illustrated. The model created has incorporated unique aspects of UNILA, the expanding possibilities for performance review, and the support related to payment management decision-making, which was not considered in the literature.Downloads
References
Agundu, P. U. C., Okon, G. B., & Robinson, E. T. (2007). Cash management and revitalization of public medical centres in Nigeria: a strategic analysis. Journal Of Hospital Marketing & Public Relations, 18(1), 71-79. https://doi.org/10.1300/J375v18n01_06
Alves, V. T., Mairesse-Siluk, J. C., Neuenfeldt-Júnior, A. L., Soliman, M., & Dalla-Nora, L. D. (2015). Performance assessment of internal logistics for service companies. Revista Facultad de Ingeniería Universidad de Antioquia, (74), 188-199.
Azevedo, R. C., Lacerda, R. T. O., Ensslin, L., Jungles, A. E., & Ensslin, S. R. (2013). Performance measurement to aid decision making in the budgeting process for apartment-building construction: Case study using MCDA-C. Journal of Construction Engineering and Management, 139(2), 225-235. https://doi.org/10.1061/(ASCE)CO.1943-7862.0000587
Bar-Ilan, A., Perry, D., & Stadje, W. (2004). A generalized impulse control model of cash management. Journal of Economic Dynamics and Control, 28(6), 1013-1033. https://doi.org/10.1016/S0165-1889(03)00064-2
Bell, P. C., & Parker, D. C. (1985). Developing a visual interactive model for corporate cash management. Journal of the Operational Research Society, 36(9), 779-789. https://doi.org/10.1057/jors.1985.143
Bortoluzzi, S. C., Ensslin, S. R., & Ensslin, L. (2010). Performance evaluation of tangible and intangible aspects of the market area: A case study in a medium industrial company. Revista Brasileira de Gestão de Negócios, 12(37), 425-446. https://doi.org/10.7819/rbgn.v12i37.726
Bortoluzzi, S. C., Ensslin, S. R., & Ensslin, L. (2011). Multicriteria performance evaluation as an aid for management of companies: Implementation in a service company. Gestão e Produção, 18(3), 633-650. https://doi.org/10.1590/S0104-530X2011000300014
Castro, C. M. (1977). A prática da pesquisa. São Paulo: McGraw-Hill do Brasil.
Chaouch, B. A. (2018). Analysis of the stochastic cash balance problem using a level crossing technique. Annals of Operations Research, 1-16. https://doi.org/10.1007/s10479-018-2822-2
Chen, H. L. (2012). Empirical behavioral analysis of project contractors' supply-chain payment terms. Supply Chain Management, 17(3), 277-289. https://doi.org/10.1108/13598541211227117
Cheng, M.-Y., Tsai, H.-C., & Liu, C.-L. (2009). Artificial intelligence approaches to achieve strategic control over project cash flows. Automation in Construction, 18(4), 386-393. https://doi.org/10.1016/j.autcon.2008.10.005
Dutra, A., Ripoll-Feliu, V. M., Fillol, A. G., Ensslin, S. R., & Ensslin, L. (2015). The construction of knowledge from the scientific literature about the theme seaport performance evaluation. International Journal Productivity and Performance Management, 64(2), 243-269. https://doi.org/10.1108/IJPPM-01-2014-0015
Enow, S. T., & Kamala, P. (2016). Cash management practices of small, medium and micro enterprises in the Cape Metropolis, South Africa. Investment Management and Financial Innovations, 13(1), 230-236. https://doi.org/10.21511/imfi.13(1-1).2016.10
Ensslin, L., Dutra, A., & Ensslin, S. R. (2000). MCDA: a constructivist approach to the management of human resources at a governmental agency. International Transactions in Operational Research, 7(1), 79-100. https://doi.org/10.1111/j.1475-3995.2000.tb00186.x
Ensslin, L., Ensslin, S. R., & Pacheco, G. C. (2012). Um estudo sobre segurança em estádios de futebol baseado na análise bibliométrica da literatura internacional. Perspectivas em Ciência da Informação (Impresso), 17, 71-91. https://doi.org/10.1590/S1413-99362012000200006
Ensslin., L., Ensslin, S. R., & Pinto, H. de M. (2013). Processo de investigação e Análise bibliométrica: Avaliação da Qualidade dos Serviços Bancários. RAC — Revista de Administração Contemporânea, 17(3), 325-349. https://doi.org/10.1590/S1415-65552013000300005
Ensslin, L., Dutra, A., Ensslin, S. R., Longaray, A. A., & Dezem, V. (2016). Constructivist model of bank management support. Espacios, 37(9).
Ensslin, L., Ensslin, S. R., Rocha, S., Marafon, A. D., & Medaglia, T. A. (2013). Multi-criteria decision-aid constructivist model in the supplier evaluation process. Produção, 23(2), 402-421. https://doi.org/10.1590/S0103-65132012005000065
Ensslin, L., Giffhorn, E., Ensslin, S. R., Petri, S. M., & Vianna, W. B. (2010). Performance evaluation of third party companies using the methodology of multicriteria decision support-constructivist. Pesquisa Operacional, 30(1), 125-152. https://doi.org/10.1590/S0101-74382010000100007
Ensslin, L., Queiroz, S., Grzebieluckas, C., Ensslin, S. R., Nickel, E., Buson, M. A., & Junior, A. B. (2011). Identification of costumers needs in the products development process: An innovative proposal illustrated for the automotive industry. Produção, 21(4), 555-569. https://doi.org/10.1590/S0103-65132011005000052
Ensslin, S. R., de Carvalho, F. N., Gallon, A. V., & Ensslin, L. (2008). A multicriteria methodology (MCDA-C) to support the management of corporate intellectual capital. RAM. Revista de Administração Mackenzie, 9(7), 136-162. https://doi.org/10.1590/S1678-69712008000700007
Ensslin, S. R., Dutra, A., De Souza-Duarte, C., Bortoluzzi, S. C., & Ripoll-Feliu, V. M. (2014). The evaluation of performance as a proposal for the management of teams of the Brazilian program "family health strategy" (FHS). Revista Gerencia y Políticas de Salud, 13(26), 10-25.
Espinosa, F. F., & Salinas, G. E. (2013). Selection of improvement strategies for working condition for to maintenance function using constructivist multicriteria decision aid approach MCDA. Informacion Tecnologica, 24(3), 57-72. https://doi.org/10.4067/S0718-07642013000300008
Espinosa, F. F., & Salinas, G. E. (2015). Definition of the Information Requirements and Functions for Maintenance Management through a Process of Constructive Analysis. Información Tecnológica, 26(6), 65-76. https://doi.org/10.4067/S0718-07642015000600009
Ferreira, F. A. F., Spahr, R. W., Santos, S. P., & Rodrigues, P. M. (2012). A multiple criteria framework to evaluate bank branch potential attractiveness. International Journal of Strategic Property Management, 16(3), 254-276. https://doi.org/10.3846/1648715X.2012.707629
Khanzadi, M., Eshtehardian, E., & Mokhlespour Esfahani, M. (2017). Cash flow forecasting with risk consideration using Bayesian Belief Networks (BBNS). Journal of Civil Engineering and Management, 23(8), 1045-1059. https://doi.org/10.3846/13923730.2017.1374303
Knyazeva, E., Yuzvovich, L., Smordina, E., Fomenko, V., & Katochikov, V. (2016). Cash flow management at the insurance company aimed at provision of financial stability. American Journal of Applied Sciences, 13(6), 794-803. https://doi.org/10.3844/ajassp.2016.794.803
Lacerda, R. T. O., Ensslin, L., & Ensslin, S. R. (2011a). A performance measurement framework in portfolio management: A constructivist case. Management Decision, 49(4), 648-668. https://doi.org/10.1108/00251741111126530
Lacerda, R. T. O., Ensslin, L., & Ensslin, S. R. (2011b). A performance measurement view of IT project management. International Journal of Productivity and Performance Management, 60(2), 132-151. https://doi.org/10.1108/17410401111101476
Luo, M. M. (2011). A bright side of financial constraints in cash management. Journal of Corporate Finance, 17(5), 1430-1444. https://doi.org/10.1016/j.jcorpfin.2011.07.001
Lusa, A., Martínez-Costa, C., & Mas-Machuca, M. (2012). An integral planning model that includes production, selling price, cash flow management and flexible capacity. International Journal of Production Research, 50(6), 1568-1581. https://doi.org/10.1080/00207543.2011.558128
Machado, T. P. S. O., Ensslin, L., & Ensslin, S. R. (2015). Product development using the MCDA-C approach. Produção, 25(3), 542-559. https://doi.org/10.1590/0103-6513.625AO
Mao, J. C. T., & Sarndal, C. E. (1978). Cash Management: Theory And Practice. Journal of Business Finance & Accounting, 5(3), 329-338. https://doi.org/10.1111/j.1468-5957.1978.tb01046.x
Marcis, J., Bortoluzzi, S. C., de Lima, E. P., & da Costa, S. E. G. (2018). Sustainability performance evaluation of agricultural cooperatives' operations: a systemic review of the literature. Environment, Development and Sustainability. https://doi.org/10.1007/s10668-018-0095-1
Martins, V. A. (2015). Proposta de um Mapa Estratégico para uma Universidade Pública. Revista Evidenciação Contábil & Finanças, 3(2), 88-103. https://doi.org/10.18405/recfin20150206
Menyah, K. (2005). International Cash Management in the 21st century: Theory and Practice. Managerial Finance, 31(10), 3-17. https://doi.org/10.1108/03074350510769884
Miller, M. H., & Orr, D. (1966). A model of the demand for money by firms. Quarterly Journal of Economics, 80(3), 413-435. https://doi.org/10.2307/1880728
Moraes, M. B. d. C., & Nagano, M. S. (2013). Cash management policies by evolutionary models: a comparison using the Miller-Orr model. Journal of Information Systems and Technology Management, 10(3), 561. https://doi.org/10.4301/S1807-17752013000300006
Moussawi-Haidar, L., & Jaber, M. Y. (2013). A joint model for cash and inventory management for a retailer under delay in payments. Computers and Industrial Engineering, 66(4), 758-767. https://doi.org/10.1016/j.cie.2013.09.021
Pacheco, J. V. D., & Morabito, R. (2011). Application of network flow models for the cash management of an agribusiness company. Computers & Industrial Engineering, 61(3), 848-857. https://doi.org/10.1016/j.cie.2011.05.018
Ramos, P. R., & Loch, C. (2006). Using MCDA for a Water Resource Management? Application in Brazil. Journal of Decision Systems, 15(2-3), 197-213. https://doi.org/10.3166/jds.15.197-213
Reck, Â. B., & Schultz, G. (2016). Aplicação da Metodologia Multicritério de Apoio à Decisão no Relacionamento Interorganizacional na Cadeia da Avicultura de Corte. Revista de Economia e Sociologia Rural, 54(4), 709-728. https://doi.org/10.1590/1234-56781806-94790540407
Righetto, G. M., Morabito, R., & Alem, D. (2016). A robust optimization approach for cash flow management in stationery companies. Computers & Industrial Engineering, 99(C), 137-152. https://doi.org/10.1016/j.cie.2016.07.010
Rodrigues, A. P., Fernandes, M. L., Rodrigues, M. F. F., Bortoluzzi, S. C., da Costa, S. G., & de Lima, E. P. (2018). Developing criteria for performance assessment in municipal solid waste management. Journal of Cleaner Production, 186, 748-757. https://doi.org/10.1016/j.jclepro.2018.03.067
Roy, B. Decision science or decision-aid science? (1993). European Journal of Operational Research, 66(2), 184-203. https://doi.org/10.1016/0377-2217(93)90312-B
Salas-Molina, F., & Rodríguez-Aguilar, J. A. (2017). Data-driven multiobjective decision-making in cash management. EURO Journal on Decision Processes, 1-15.
Salas-Molina, F., Pla-Santamaria, D., & Rodriguez-Aguilar, J. A. (2016). A multi-objective approach to the cash management problem. Annals of Operations Research, 1-15.
Shapiro, A. C. (1978). Payments netting in international cash management. Journal of International Business Studies, 9(2), 51-58. https://doi.org/10.1057/palgrave.jibs.8490661
Silveira, M. M., Vianna, W. B., Cândido, A. C., & Petri, S. M. (2017). Estruturação de elementos formais para implantação de Gestão da Inovação em Bibliotecas. Informação & Sociedade, 27(3).
Su, M., & Hildreth, W. B. (2018). Does Financial Slack Reduce Municipal Short‐Term Borrowing?. Public Budgeting & Finance, 38, 95-113. https://doi.org/10.1111/pbaf.12189
Strydom, B., & Stephen, T. (2014). Financial management in non-profit organisations: An exploratory study. Mediterranean Journal of Social Sciences, 5(15), 55-66. https://doi.org/10.5901/mjss.2014.v5n15p55
Tahir, M. S., Alifiah, M. N., Arshad, M. U., & Saleem, F. (2016). Financial theories with a focus on corporate cash holding behavior: A comprehensive review. International Journal of Economics and Financial Issues, 6(3), 215-219.
Tasca, J. E., Ensslin, L., & Ensslin, S. R. (2012). Evaluation of training programs: A case study in public administration. Revista de Administração Pública, 46(3), 647-675. https://doi.org/10.1590/S0034-76122012000300002
Thiel, G. G., Ensslin, S. R., & Ensslin, L. (2017) Street Lighting Management and Performance Evaluation: Opportunities and Challenges. Lex Localis — Journal of Local Self-Government, 15(2), 303-328. https://doi.org/10.4335/15.2.303-328(2017)
Tran, H., & Carmichael, D. G. (2013). A contractor's classification of owner payment practices. Engineering, Construction and Architectural Management, 20(1), 29-45. https://doi.org/10.1108/09699981311288664
Tsamenyi, M., & Skliarova, D. (2005). International Cash Management Practices in a Russian Multinational. Managerial Finance, 31(10), 48-64. https://doi.org/10.1108/03074350510769910
Valmorbida, S. M. I., & Ensslin, S. R. (2017). Performance Evaluation of University Rankings: Literature Review and guidelines for future research. International Journal of Business Innovation Research, 14(4), 479-501. https://doi.org/10.1504/IJBIR.2017.087844
Yao, J. S., Chen, M. S., & Lu, H. F. (2005). A fuzzy stochastic single-period model for cash management. European Journal of Operational Research, 170(1), 72-90. https://doi.org/10.1016/j.ejor.2004.06.017
Wang, Z., Xu, G., Zhao, P., & Lu, Z. (2018). The optimal cash holding models for stochastic cash management of continuous time. Journal of Industrial & Management Optimization, 14(1), 1-17.
Zamcopé, F. C., Ensslin, L., & Ensslin, S. R. (2012). Construction of a model for corporate sustainability assessment: A case study in the textile industry. Gestão e Produção, 19(2),303-321. https://doi.org/10.1590/S0104-530X2012000200006