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Optimal size of business and dividend strategy in a nonlinear model with refinancing and liquidation value
2016
Mathematical Control and Related Fields
This paper investigates the optimal control problem with a nonlinear capital process attributed to internal competition factors. Suppose that the company can control its capital process by paying dividend, refinancing and changing the size of business. The transaction costs generated by the control processes as well as the liquidation value at ruin are considered. We aim at seeking the optimal control strategies for maximizing the company's value. The results show that the company should expand
doi:10.3934/mcrf.2017001
fatcat:uphbv6qfnveu3l4vft44x5j23q