Dynamic Investment and Financing with Internal and External Liquidity Management


We develop a theoretical model of dynamic investments, dividend payouts, debt borrowing, external equity financing/bankruptcy, and risk management for financially constrained firms. The model characterizes the central... [ view full abstract ]


  1. Nan Chen (The Chinese University of Hong Kong)
  2. Yuan Tian (Ryukoku University)
  3. Jiahui Ji (The Chinese University of Hong Kong)

Topic Areas

Capital Requirements , Debt Service , Liquidity


WE-P-B1 » Optimal Control and Optimal Investment 2 (14:30 - Wednesday, 18th July, Beckett 1)

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