This paper examines the effects of costly external financing on the optimal timing of a firm’s investment. By altering the optimal investment timing, costly financing affects current investment and the sensitivity of investment to internal cash flow. Importantly, the relation between the cost of external funds and investment-cash flow sensitivity is non-monotonic. Investment-cash flow sensitivi...

the paper determined optimum farm plan for food security among smallholder farmers in imo state, nigeria. data were collected with structured and validated questionnaire from 180 smallholder crops farmers in imo state. data were analyzed using descriptive statistics (mean, frequency distribution and percentages), budgetary analysis and linear programming model. results show that the mean age of...

Consider a single commodity inventory system in which the demand is modelled by a sequence of i.i.d. random variables that can take negative values. Such problems have been studied in the literature under the name cash management and relate to the variations of the on-hand cash balances of financial institutions. The possibility of a negative demand also models product returns in inventory syst...

calculating total cast of bank resources procurement methods which include current -free loan deposit, saving interest-free loan deposit, regular and net short-term investment deposit, long-term investment deposit and surety bond cash deposit and presenting their optimal integration require precise scientific studies. hence, this study is an attempt to know which methods are the best optimal in...

We find the optimal time for entering a joint venture by two firms, and the optimal linear contract for sharing the profits. Our dataset shows that in practice, many contracts are based on fifty/fifty profit sharing. In our model, that happens in the following cases: symmetric information and contracts which include fixed cash payments; asymmetric information, fixed cash payments included, and ...

In this paper we present CASH, a Compiler for Application Specific Hardware. CASH performs high-level synthesis, taking as input ANSI C programs, generating structural Verilog as output. The goal of this paper is to describe the research contributions incorporated in CASH, which advance the techniques of high-level synthesis in several directions. From the outset we set the goal for CASH to sup...

The paper investigates the optimization of ATM cash by means of genetic algorithm in order to produce optimal upload strategies able to minimize the daily amount of stocked money, still assuring cash dispensing service. We provide experimental evidence of benefits obtained by the proposed approach in terms of lower financial costs and more rational cash management. In particular we considered a...

This paper examines optimal portfolios with discounted stochastic cash inflows (SCI). The cash inflows are invested into a market that is characterized by inflation-linked bond, a stock and a cash account. It was assumed that inflationlinked bond, stock and the cash inflows are stochastic and follow a standard geometric Brownian motion. The variational form of Merton portfolio strategy was obta...

This paper investigates the connection between market valuation anda type of the merger (stock, cash) using real options setup. I solveexplicitly for the timing and terms of cash mergers in two deferent settingsto demonstrate that cash mergers generally occur at low marketvaluations, whereas stock mergers that may be observed at both low andhigh valuations; the result holds with some dierences ...