Dynamic optimal capital growth of diversified investment
نویسندگان
چکیده
منابع مشابه
Optimal Investment in Human Capital Under Uncertainty
In this paper we extend the standard human capital model with the probability of becoming unemployed and uncertainty about future earnings. Our analysis deviates from earlier human capital cum uncertainty models in assuming risk neutral decision-makers. This allows a straightforward comparison with the standard model and also facilitates calculations of unemployment and uncertainty accounted ra...
متن کاملHuman Capital Investment and Optimal Portfolio Choice
In this paper we analyze how an individual should optimally invest in human capital when he also has financial wealth. We treat the individual’s option to take more education as expansion options and apply real option analysis. We characterize the individual’s optimal consumption strategy and portfolio weights. The individual has a demand for hedging financial risk, labor income risk, and also ...
متن کاملOptimal Capital Taxation with Idiosyncratic Investment Risk
We examine the optimal taxation of capital in a general-equilibrium heterogeneousagent economy with uninsurable idiosyncratic investment or capital-income risk. Our framework combines elements from the Ramsey and the Mirrlees traditions, as we consider a linear tax but also introduce lump-sum transfers. The tractability of our model allows for an analytic characterization of the long run, as we...
متن کاملDynamic Investment, Capital Structure, and Debt Overhang
We model dynamic investment, financing and default decisions of a firm, which begins its life with a collection of growth options. The firm exercises them optimally over time, and finances the costs of investment by adjusting its capital structure, which trades off the tax benefits with the distress cost of debt and the agency cost of investment distortions from potential debt overhang. Conflic...
متن کاملMarket Growth as Influenced by Capital Investment
The manager, by evolving the policies that guide decision making, designs a corporate system. Such systems have a feedback loop structure that determines the growth and stability of the enterprise. The complexity of these systems usually precludes intuitive determination of how a policy change will affect the total system. A simulation model of the feedback structure and policies allows one to ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Applied Statistics
سال: 2014
ISSN: 0266-4763,1360-0532
DOI: 10.1080/02664763.2014.980783