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...

For a general class of risk models, the dividends-penalty identity is derived by probabilistic reasoning. This identity is the key for understanding and determining the optimal dividend barrier, which maximizes the difference between the expected present value of all dividends until ruin and the expected discounted value of a penalty at ruin (which is typically a function of the deficit at ruin...

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 ...

As the centerpiece of its “growth package,” the Bush Administration proposes to eliminate taxes that individuals pay on dividend payments they receive from corporations. These dividends would receive tax-free treatment to the extent that they have been paid from profits subject to the corporate income tax. For individuals who hold shares in companies that do not pay dividends, the proposal woul...

We develop a model where dividend payout, investment and financing decisions are made by managers who attempt to maximize the rents they take from the firm. But the threat of intervention by outside shareholders constrains rents and forces rents and dividends to move in lockstep. Managers are risk-averse, and their utility function allows for habit formation. We show that dividends follow Lintn...

This study aimed to determine the effects of operating cash flows and net income on dividend cash. The hypothesis taken was that H1 effect flow dividends H2 dividends. population this were food beverage companies registered in Indonesia Stock Exchange (IDX) 2015 – 2019. sampling method used purposive sampling, is sample selection with certain criteria. Eight met criteria obtained, so total size...