Liquidity management with decreasing returns to scale and secured credit line
نویسندگان
چکیده
منابع مشابه
Liquidity management with decreasing returns to scale and secured credit line
This paper examines the dividend and investment policies of a cash constrained firm, assuming a decreasing-returns-to-scale technology and adjustment costs. We extend the literature by allowing the firm to draw on a secured credit line both to hedge against cash-flow shortfalls and to invest/disinvest in productive assets. We formulate this problem as a bi-dimensional singular control problem a...
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ژورنال
عنوان ژورنال: Finance and Stochastics
سال: 2016
ISSN: 0949-2984,1432-1122
DOI: 10.1007/s00780-016-0312-4