‎in this paper‎, ‎we consider the optimal asset control of a financial company which can control its liquid reserves by paying dividends and by issuing new equity‎. ‎we assume that the liquid surplus of the company in the absence of control is modeled by the diffusion model‎. ‎it is a hot topic to maximize the expected present value of dividends payout minus equity issuance until the time of ba...

please cite this article as : heidarnia ma, ghaemian t, montazeri a, abadi ar. evaluation of the relation between poverty and health-related quality of life in the people over 60 years-old in the district 4 of tehran municipality in 2009-2010. novel biomed 2013;1:23-28. as the articles in recent years well indicate, more than all other factors, social determinants of health are involved in peop...

This paper examines the consequences for the term structure of stock market risk of the significance of demographics in capturing the time varying mean of the dividend-price ratio and in predicting stock market returns. A potential role for demographic variables has never been considered in the ongoing debate on the slope of the term structure of stock market risk. Intuitive reasoning, formal m...

social determinants, similar to equity, have been considered by policymakers in many countries. however, there is not a correct and complete understanding of them. this study aimed to analyze the systematic relationships among social determinants of health (sdh) and identify their prioritization in iran.this cross-sectional descriptive-analytical study was conducted in 2012. the target populati...

We analyze the regularity of the optimal exercise boundary for the American Put option when the underlying asset pays a discrete dividend at a known time td during the lifetime of the option. The ex-dividend asset price process is assumed to follow Black-Scholes dynamics and the dividend amount is a deterministic function of the ex-dividend asset price just before the dividend date. The solutio...

Based on the fundamental equations of equity valuation, we derive here the relationship between the equity risk premium, duration and dividend yield. Aside from providing a logical foundation for the difference between the ex-ante and ex-post measures of the risk premium, the work leads to other outcomes, namely, but not specifically, (1) that the current, effective dividend policy is a signall...

Due to the overwhelming international evidence that stock prices drop by less than the dividend paid on ex-dividend days, the ex-dividend day anomaly is considered a stylized fact. Two main approaches have emerged to explain this empirical regularity: the tax-clientele hypothesis and the microstructure of financial markets. Although the most widely accepted explanation for this fact relies on t...

Optimal dividend payment under a ruin constraint is a two objective control problem 1 which – in simple models – can be solved numerically by three essentially different methods. One 2 is based on a modified Bellman equation and the policy improvement method (see (2003)). In this 3 paper we use explicit formulas for running allowed ruin probabilities which avoid a complete search 4 and speed up...