where u1 is the proportion of the portfolio held in stocks, and u2 is the consumption rate. Evidently it is natural to take 0 ≤ u1 ≤ 1 and u2 ≥ 0, but in fact we shall allow −∞ < u1 <∞. If u1 > 1 then the cash part of the portfolio is negative, so we are borrowing money to buy stocks. If u1 < 0 then the stock part of the portfolio is negative, so we are so called shorting the stock. The goal is...

Spending the big bucks may seem inevitable to a cash-strapped city goer. This is especially true if you're a student pressed between a heavy load of school work and a tight budget. But have no fear ? the city that never sleeps offers a plethora of opportunities to learn, explore, and enjoy without blowing all your savings. You could start by checking out NYC: The Official Guide [2]. You can als...

Cash-flow Notation: We use (c0, c1, . . . , ci, . . . , cn) to denote the series of cash-flows where ci is received at time t = i . The length of a period, i.e. the interval of time between t = i and t = i + 1, will usually be understood from the context. Negative cash-flows refer to cash payments. The initial cash-flow, c0, will often be negative while the remaining cash-flows are positive. Th...

Pycnocycla spinosa Decne. ex Boiss. var. spinosa (Fam. Umbelliferae) is an essential oil-containing wild plant growing in central part of Iran. Hydroalcoholic extract of Pycnocycla spinosa has antispasmodic and antidiarrheal activity. The aim of this study was to further investigate antidiarrheal and small intestinal transit effect of P. spinosa extract for a comparison with loperamide and dicy...

Cash takeover bids financed from internally generated cash reserves could be a function of capital market imperfections (Myers and Majluf 1984) or symptomatic of “free-cash-flow” problems (Jensen 1986, 1988). We find that bids financed from cash reserves outperform those that use debt financing. Further, ‘free cash flow’ firms outperform ‘non-free cash flow’ firms. The majority of cash bids are...

The research on off-line electronic cash(e-cash) schemes has drawn much attention since Chaum etc [8] presented the first off-line anonymous electronic cash scheme in 1988. However, anonymous electronic cash schemes also facilitate fraud and criminal activities [32], such as money laundering, blackmailing and illegal purchases. Frankel etc [13]. first introduces the concept of fair electronic c...

Determination of normal gastric emptying time and small intestinal transit time are useful in detecting gastrointestinal motility disorders and partial obstructions of the pylorus or small intestine. This study was conducted to evaluate iodixanol as a contrast agent in the gastrointestinal tract in New Zealand White rabbit. Twelve clinically healthy adult rabbits were prepared and kept for two ...

The aim of this study was to investigate the relationship between growth opportunities, risks, and relative changes in the Company's cash assets. This study is a literature study and analysis was based on an analysis of panel data. In this study, a financial data of 112 companies listed in Tehran Stock Exchange during the period 2009 to 2014 have been reviewed. The results in relation to the fi...

This paper documents the short and long term balance sheet effect of cash flows. We show that cash savings in the short run and debt reduction in both the short and the long run account for a substantial fraction of cash flow use. Although, in the long run, investment exhibits substantial sensitivity to cash flows, investment does not absorb the entire cash flow shock. In fact, the tighter the ...