This paper considers the optimal dividend payment problem in piecewise-deterministic compound Poisson risk models. The objective is to maximize the expected discounted dividend payout up to the time of ruin. We provide a comparative study in this general framework of both restricted and unrestricted payment schemes, which were only previously treated separately in certain special cases of risk ...

Significant time-varying risk premia exist in the foreign currency futures basis, and these risk premia are meaningfully correlated with common macroeconomic risk factors from equity and bond markets. The stock index dividend yield and the bond default and term spreads in the U.S. markets help forecast the risk premium component of the foreign currency futures basis. The specific source of risk...

effects of dividend policy on corporate financial growth, is a major concern of most entities. whether dividends have an influence on the value of the firm, is an important question in dividend policy. this study aimed at investigating the effects of dividend policy on financial growth of media firms. the study was conducted in nairobi at the nation media group headquarters. respondents were se...

Consider two insurance companies (or two branches of the same company) that have the same claims and they divide premia in some specified proportions. We model the occurrence of claims according to a Poisson process. The ruin is achieved if the corresponding two-dimensional risk process first leave the positive quadrant. We consider different kinds of linear barriers. We will consider two scena...

This study aims at analyzing the relationship between firm R&D intensity and market risk using crosssectional data of 333 firms of the Indian industries from 2005 to 2009. For this, a theoretical model has been developed. The results of the theoretical model show that there is an inverse relationship between firm R&D intensity and market risk. The empirical results show that after controlling f...

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...

This paper analyzes the debt ratio and the scale of cash dividend among the internationalized and domestic electronic industries in the US from 1999 to 2008 as the reference for financing strategies and decision. The evidence shows that the debt ratio and the payout cash dividend ratio in the internationalized electronic firms are lower than those in domestic electronic firms. Due to the unique...