Optimal dividend and capital structure with debt covenants

DOI10.1007/s10957-020-01760-4zbMath1465.91126OpenAlexW3016379773MaRDI QIDQ2025293

Vathana Ly Vath, Etienne Chevalier, Alexandre F. Roch

Publication date: 11 May 2021

Published in: Journal of Optimization Theory and Applications (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1007/s10957-020-01760-4

zbMATH Keywords

optimal stoppingviscosity solutionsbankruptcysingular controlssystem of variational inequalitiesdebt covenants

Mathematics Subject Classification ID

Stopping times; optimal stopping problems; gambling theory (60G40) Viscosity solutions to Hamilton-Jacobi equations in optimal control and differential games (49L25) Corporate finance (dividends, real options, etc.) (91G50) Credit risk (91G40)

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Cites Work

• Liquidity management with decreasing returns to scale and secured credit line
• Liquidity risk and optimal dividend/investment strategies
• A mixed singular/switching control problem for a dividend policy with reversible technology investment
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• AN OPTIMAL DIVIDEND POLICY WITH DELAYED CAPITAL INJECTIONS
• A Diffusion Model for Optimal Dividend Distribution for a Company with Constraints on Risk Control
• Optimal Financing of a Corporation Subject To Random Returns
• Optimization of the flow of dividends
• Convergent Numerical Scheme for Singular Stochastic Control with State Constraints in a Portfolio Selection Problem

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