dividend policy has long been an issue of interest in the financial literature. to date, a number of studies published on agency costs and dividend policy but most of them are on developed markets, it is well known that the emerging markets are quite different from developed markets in all respects. so, the existing published evidence is of limited relevance in identifying the influence of agen...

L Finitely many growth options 30 L.1 Optimal policy in the waiting period . . . . . . . . . . . . . . . . . . . . . . 31 L.2 Optimal strategy for a firm with a growth option . . . . . . . . . . . . . . . 34 L.3 Proofs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 L.4 Solution to Problem 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 L.5 Solu...

This article describes an expert system for cash flow analysis called CFA--Cash Flow Analyzer. which uses knowledge based on ratio analysis and the budgetary statement of changes in cash flow. The system uses "If ••• Then ••• " rules to capture the expertise necessary to diagnose the source of cash flow problems and make recommendations on how to mitigate those problems. 1. AN EXPERT SYSTEM FOR...