We consider the optimal dividends problem for a company whose cash reserves follow a general Lévy process with certain positive jumps and arbitrary negative jumps. The objective is to find a policy which maximizes the expected discounted dividends until the time of ruin. Under appropriate conditions, we use some recent results in the theory of potential analysis of subordinators to obtain the c...

The economic situation in Indonesia has suffered a major hit various sectors since the end of 2019. This study aims to analyze Valuation Technology Company Shares listed on Stock Exchange using Dividend Discount Model and Free Cash Flow Equity. uses sample 8 companies from 35 technology Exchange. research data compares stock valuations 2019, 2020 2021 before, during after Covid 19. Statistical ...

In this paper,we consider a general Lévy riskmodelwith two-sided jumps and a constant dividend barrier. We connect the ruin problem of the ex-dividend risk process with the first passage problem of the Lévy process reflected at its running maximum. We prove that if the positive jumps of the risk model form a compound Poisson process and the remaining part is a spectrally negative Lévy process w...

From various empirical evidences conducted in parts of the world on factors that influence dividend policy, results show there are similarities or mutual support between one study and another. However, also among variables have a relationship with policy showing contradictory This can happen due to differences business characteristics, environment, culture legal regulations differ from country ...

In this paper, we develop an agency-theoretic extension of the Lucas asset pricing model and examine the resulting asset price dynamics. In the model, an agent of the firm can expand or contract the firm’s output and dividend payments in response to exogenous shocks, although expansions become increasingly costly for the agent to maintain. Analysis of numerical simulations shows that the time-s...

Despite a documented decline in the number of dividend payers in the UK it is found that aggregate real dividends paid by industrials actually increased between 1979 and 2000. This was attributed to the firms lost from the sample being generally small distributors of dividends whilst the growth in payments by large firms more than compensated for the effect of the former. As a result a concentr...

In this paper, Economic Order Quantity ( ) based model for non-instantaneous deteriorating items with imperfect quality, permissible delay in payments and inflation is proposed. We adopt a time-dependent demand function. Also, the effects of time value of money are studied using the Discounted Cash Flow approach. Moreover, we assume that orders may contain a random proportion of defective items...

In this note we consider a general equilibrium model with oligopolistic competition between firms who ignore the feedback effect of their dividend payments on demand. The outcome of this competition coincides with the perfectly competitive equilibrium solution, provided that firms have identical production technologies. I would like to thank Atsushi Kajii and two anonymous referees for helpful ...