Abstract We derive a consistent valuation approach that integrates the interdependent effects of cash dividends, share repurchases and active debt management while considering personal taxes. The is based on assumption predetermined proportion flow to equity used for instead dividends. Additionally, we examine cost by deriving appropriate adjustment formulae. Furthermore, run simulations invest...

In this paper, we consider the optimal dividend strategy under the diffusion model with regime switching. In contrast to the classical risk theory, the dividends can only be paid at the arrival times of a Poisson process. By solving an auxiliary optimal problem, we show that the optimal strategy is the modulated barrier strategy. The value function can be obtained by iteration or by solving sys...

Equity Payout is ‘Net dividends of nonfarm, nonfinancial business’ (Table F.102, line 3), plus ‘Net dividends of farm business’ (Table F.7, line 24), minus ‘Net increase in corporate equities of nonfinancial business’ (F.101, line 35), minus ‘Proprietors’ net investment of nonfinancial business’ (F.101, line 39). Debt Repurchase is the negative of ‘Net increase in credit markets instruments of ...

this world; though all the discussions are focused on the causal relationships in allthe scientific arguments. One of the methods to study the designed causal relationshipsobjectively is Granger causality test. This paper aims to investigate the longtermcausal relationship between the stock price and dividends. The statisticalpopulation includes 180 active companies in Stock Exchange of Tehran ...

The advantages of the estimated value net assets are substantiated, factors affecting their and possible options for increasing identified

In this short paper, we show how fluctuation identities for Lévy processes with no positive jumps yield the distribution of the present value of dividends paid until ruin in a Lévy insurance risk model with a dividend barrier.

The purpose of this study was to test the effect empirically influence growth and earnings management on dividend payment policies company value in as many 40 banking companies listed Indonesian stock exchange 2015-2019. research method is explanatory with secondary data, based documentation data processing using Structural Equation Model test. results showed that asset had a negative insignifi...

An algorithm describes a sequence of operations for solving a computational problem. There are often several algorithms for solving a problem and we are interested in analyzing the computational resources required to calculate the Myerson value. The complexity of a problem is the order of computational resources which are necessary and su¢cient to solve the problem. The algorithmic complexity i...

In many applications of cooperative game theory to economic allocation problems, such as river games, polluted river games and sequencing games, the game is totally positive (i.e., all dividends are nonnegative), and there is some ordering on the set of the players. A totally positive game has a nonempty core. In this paper we introduce constrained core solutions for totally positive games with...