Liquidity Management (Liquidity Risk Control) とは? 流動性管理を英語で学ぶ





Purpose of Liquidity Management

Liquidity management in business refers to the strategic handling of a company’s cash flow and its ability to meet short-term financial obligations. The primary purpose is to ensure that a company has enough readily available funds to cover operational expenses, pay debts, and capitalize on emerging opportunities. By effectively managing liquidity, businesses can maintain financial stability, weather economic uncertainties, and position themselves for sustainable growth.



Consequences of Poor Liquidity Management

Poor liquidity management can lead to various financial challenges for a company. If a business lacks the necessary funds to meet its short-term obligations, it may struggle to pay suppliers, meet payroll, or cover unexpected expenses. This can result in damaged relationships with stakeholders, lowered credit ratings, and even insolvency. In times of economic downturns or unforeseen crises, poor liquidity management can amplify the negative impact, making it challenging for the business to navigate through turbulent periods.



Measurements for Liquidity Management

Several key ratios and metrics are used for liquidity management:

  1. Current Ratio:
    Current Ratio=Current Assets/Current Liabilities
    This ratio measures a company’s ability to cover short-term obligations with its short-term assets. A ratio above 1 indicates the company has more assets than liabilities in the short term.
  2. Quick Ratio (Acid-Test Ratio):
    Quick Ratio=(Current Assets – Inventory)/Current Liabilities
    Similar to the current ratio, the quick ratio excludes inventory to provide a more conservative measure of short-term liquidity.
  3. Cash Ratio:
    Cash Ratio=Cash and Cash Equivalents/Current Liabilities
    This ratio specifically focuses on a company’s ability to cover short-term liabilities with its cash and cash equivalents.

These metrics provide insights into different aspects of a company’s liquidity position, helping businesses make informed decisions to manage their cash flow effectively.



  1. 流動比率(Current Ratio):
  2. クイック比率(Acid-Test Ratio):
    クイック比率=(流動資産 – 在庫)/流動負債
  3. キャッシュ比率(Cash Ratio):


Key Factors for Effective Liquidity Management

Effective liquidity management requires a holistic approach that considers various factors:

  1. Forecasting: Accurate cash flow forecasting is crucial for anticipating liquidity needs. Businesses should regularly update their forecasts, considering factors such as seasonality, market trends, and economic conditions.
  2. Diversification of Funding Sources: Relying on a single funding source can be risky. Businesses should diversify their funding sources, including lines of credit, loans, and potentially equity financing.
  3. Working Capital Efficiency: Efficient management of working capital, including receivables and payables, contributes to improved liquidity. Shortening the cash conversion cycle can free up cash for other uses.
  4. Contingency Planning: Developing contingency plans for unforeseen events ensures that businesses are prepared to navigate challenging situations without significant disruptions to their liquidity.
  5. Regular Monitoring and Adjustment: Liquidity management is an ongoing process. Regularly monitor key liquidity indicators, and be prepared to adjust strategies based on changing circumstances.



  1. 予測: 正確なキャッシュフローの予測は、流動性ニーズを予測するために重要です。企業は季節性、市場トレンド、経済状況などを考慮して、定期的に予測を更新する必要があります。
  2. 資金調達源の多様化: 単一の資金調達源に頼ることはリスクが伴います。企業はクレジットライン、ローン、おそらくは株式調達を含む資金調達源を多様化するべきです。
  3. 適切な運転資本管理: 売掛金や買掛金を含む運転資本の効果的な管理は、流動性の向上に寄与します。キャッシュ変換サイクルを短縮することで、他の用途のために資金を確保できます。
  4. 非常時対応計画: 予測できない事態に対する非常時対応計画を策定することで、企業は流動性への大きな影響なしに困難な状況を乗り越える準備ができます。
  5. 定期的なモニタリングと調整: 流動性管理は継続的なプロセスです。主要な流動性の指標を定期的にモニタリングし、変動する状況に基づいて戦略を調整する準備を整えておく必要があります。

Additional Considerations

Effective communication within the organization is crucial for successful liquidity management. All relevant stakeholders, including finance teams, executives, and operational staff, should be aware of the company’s liquidity goals, strategies, and current status. Additionally, staying informed about regulatory requirements, market conditions, and industry trends is essential for making informed decisions that align with the broader economic landscape.